OUTLAY OF ARMS
HUGE AND INCREASING BURDEN
THREAT TO EXISTENCE OF DEMOCRACIES DISTORTION OF INDUSTRIAL STRUCTURE By Telegraph —Press Association. Copyright. WASHINGTON, October 3. The Foreign Policy Association, in a survey, revealed that world armament expenditure in 1938 was 17,581,300,000 dollars compared with 3,783,700,000 in 1933. The association comments: “Now that the Munich agreement has postponed war, virtually every industrial nation is confronted with the question of how long its national economy can stand such expenditure. “For the democracies the ultimate cost of unlimited armament competition may undermine democracy itself. “Recent history has demonstrated that huge armament spending leads almost inevitably to dictatorship or Government intervention.” Declaring that the British industrial structure is being distorted, the association points out that direct Government expenditure cn shadow factories, warship and aircraft equipment for 1937-38 exceeds the value of houses in the United Kingdom.
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Wairarapa Times-Age, 4 October 1938, Page 7
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141OUTLAY OF ARMS Wairarapa Times-Age, 4 October 1938, Page 7
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