BANK OF INTERNATIONAL SETTLEMENTS
ANNUAL REPORT PRESENTED COMMENT ON ARMAMENT EXPENDITURE [United Press Association—By Electric Telegraph—Copyright] LONDON, 3rd May. The Bank of International Settlements’ annual report draws attention to the fact that armament expenditure comes at the wrong phase of the business cycle, tending to stimulate wrong trades, namely those already benefiting from general business recovery. It adds that the world’s armament expenditure is now thrice that of 1913.
'The bank’s profit is nine million Swiss gold francs, and the dividend 6 per cent.
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Nelson Evening Mail, Volume LXXI, 4 May 1937, Page 5
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84BANK OF INTERNATIONAL SETTLEMENTS Nelson Evening Mail, Volume LXXI, 4 May 1937, Page 5
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