The Cordova daily times., 1923-01-26
EUROPE SPENDS MUCH MONEY ON WAR EQUIPMENT

 the nations O: Europe are spending approximately one-fifth of their to- tai revenues for the maintenance, equipment and training of standing armies ~ " .' '.-s e.YE~ ,+.' These figures are official, and they do not include Soviet Russia, which maintains probably the greatest body of armed men in the world today. They were gathered by American diplomats and agents abroad, trans mitted to the State Department and then sent to the Senate, where they probably will provide the basis for volley of oratory aimed at Euro. pean militarism."
 No Navy Figures
 Figures are not available on what Europe is spending in the upkeep of navies. The naval expenditures are considerably less than for arm ies, but are sufficinet, nevertheless to make it safe to say that Eurorean nations are spending one-third of their annual revenues for the main tenance, equipment and training of fighting forces.
 Reduced to terms of dollars and cents, the figures appear fantastic because of the sadly deflated cur rencies of many Europeon nations But, at the pre-war rate of exchange, the State Departments report shows Europe spending the stupendous sum of approximately $14,5O0, 100000 a year for purposes of land arma- ment. This sum would discharge Europe's debt to the United States in single year, with accrued inter- est, and leave a balance of some s3,5OO, 100000 besides.
 Here Are Figures
 The amount each nation in Europe is spending for military purposes and the proportion of it's annual revenue represented, as revealed by their 1922 budgets, follows.
 Austria-47S77,8 ,821 kronen; 16 per cent.
 Belgium-676, 100000 francs; 10 per cent.
 crowns; 16 per cent.
 Esthonia-1, ,324 ,OOO,OOO marks; 20 per cent
 F'inland-306, 100000 marks; I, per cent.
 Franca - 3,f2G,o0O,oo0 francs; Il per cent.
 Great 2.OOo,Oo0 pounds; per cert
 Greece -?l:?o0oo)o 2rachmas; C3 per cent.
 Hungary-.2. .I9o o4c.2t) crowns; A per cent
 1taly-187 876.oooooo lire; 21 per cent.
 Latvia-1 ,233 100000 rubles; 15 per cent.
 Lithuania-491, 100000 marks; 53 per cent,
 Poland-152 100000 marks; 15 per cent.
 Rumania-1157,OOO lei: Ii per cent.
 Should there be added to these figures the amounts each Govern ment is laying out annually in war pensions, food grants and war re construction of various kinds it probably would reveal, according to Government experts, that easily threefourths of European income is devoted to paying for the last war and preparing for the next.
 Britain Spends Least
 Of all the nations of the Old World Great Britain is spending least for purely military purposes The winds of government economy struck the British Government about the same time they did the American Govern ment and resulted in a colossal cutting down in military establish ment.
 The nation that spent most for war purposes in 1922. in proportion to it's annual revenue, was Greece. Prosecuting their unsuccessful war against the Turks cost the Greeks 2142,00O,OOO drachmas, or about 63 per cent of their total governmental revenue for 1922. This figure is purely an estimated one, based on the Crock Governments budget for 1922, according to American obser vors, and probably the cost of this country's military operations for 1923 will run much higher.
 In comparison with the European average, the American Government is devoting approximately 10 per cent of it's annual revenue to military expenditures. This figure is likely to be misleading, however, according