DEFENCE EXPENDITURE.
HUGE WORLD TOTAL. According to the tenth edition of the Armaments Year-book of the League of Nations, which was published recently, it is difficult to arrive at comparable figures for world military expenditure owing to marked exchange fluctuations in many countries during the last few years, states the Geneva correspondent of the London Times. A table is given, however, which, based on the lire-1932 parity of exchange in various countries, suggests that expenditure on defence was higher in 1933 than at any time since 1925 (the first year quoted). The amount given in this table is 4,399,000,000 gold dollars, against 4,158,000,000 in 1932, and 3,522,000,000 in 1925. Another table, based on the mean annual rates on New York, puts the 1933 figure at 3,471,000,000 gold dollars, against 3,510,000,000 in 1932. The compilers of the Year-book suggest that the true curve of expenditure lies between the limits in the two tables.
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Manawatu Standard, Volume LIV, Issue 286, 31 October 1934, Page 2
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152DEFENCE EXPENDITURE. Manawatu Standard, Volume LIV, Issue 286, 31 October 1934, Page 2
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