The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-02-02
Great POWERS
BROKE, BUT CAN
BUILD DEFENSES
Armies Swallow Finances;
Forces Larger Than
in 1914.
BY WILLIAM PHILIP SIMMS
serIpps- Howard FOREIGN Editor

ScrippS-hoWard Foreign EDITOR
At back-breaking cost, thirteen
years after the war that was to end
war, there are more men under
arms than there was in 1914-this
in a world wherein nations are de-
faulting On their last war debts on
a plea of poverty.
Such is the amazingly unbusi-
nesslike situation today among the
fifty-odd countries meeting in &C.
neva in the forlorn hope that
maybe they can work a miracle and
disarm.
The war department, at Wash
ington, estimates that there are
now approximately 100000 effec-
tives in the various land, sea and
air services Of the world and an
other 100000 in reserve.
Defense Cost Is Up
Thus a total of 100000 men,
at cost of $5,OOO,OOOOOO a year,
now are modified or within easy
call, ready for war at drop of the
hiatt per cent Of the earth's entire
male population.
The seven leading military powers
alone-Britain, France, Russia, ia
pan, Germany and the United
States-are spending $4,000 100000
a year, or 81 per cent more than in
1913.
Omitting Germany-Disarmed by
the Treaty of Versailles-the re-
naming six powers are spending
$4,000, 100000 annually on their war
budgets, an increase of approx
mately IS per cent above pre-war
expenditures.
Making allowances for the rise in
price levels, the increase would still
be in the neighborhood of 40 per
cent.
All this is happening among ma
tons not one of which is able to
make ends meet. All are living on
borrowed money, in some instances
without much chance of ever paying
it back.
None Can Pay Debts
Russia, of course, long since has
repudiated her war debts, and Brit
ain, France, Italy and others are
said to be contemplating similar
steps.
Market quotations listing foreign
government bonds show prices
ranging as low as from 7 to 30 cents
on the dollar.
Great Britain is spending $780,
100000 annually on armaments-
AZ per cent more than when she
declared war on Germany-but she
can not pay the United States the
$l6O,000000 year due on her war
debt.
France is spending $547 900 900
annually on armamentS-30 per
cent more than at the commence
ent OF the war-and yet she says
she can not pay the United States
the $50,000000 due on hers.
U. S. Needs Money
Italy last year spent $330000,000
on ornaments, but the $15,000,000
due the United States on money
borrowed to run her last war re-
mains unpaid.
And so it goes.
Altogether the allies this year
failed to pay $244,000,000 borrowed
during the World war. But they
roicod o,1d Grant nIOco - 60 mn
100000 in preparation for the next.
The United States is hard put to
pay its bills. 1t is living beyond it's
means to the tune of $1,500,0OO, 1000
a year. It is talking of slashing
wages; and heavy tax increases are
as certain as tomorrows sun. Still
1t finds it necessary to spend about
$7o0,000000 a year on national de-
Tense because the world has become
more than ever an armed camp.
Defense Needs Relative
Beyond question the feeling of
majority of the delegates at Geneva
is that national defense is one of the
most legitimate of all public ex-
penses, when kept within bounds.
The official position of the United
States is that all armament needs
are relative. If other powers agree
to reduce their ornaments, our
needs will diminish, too.
But the blind fear of invasion,
which is the bugaboo of some ma
tions, and the unsatisfied longing
for place in the sun of others, may
throw a monkeywrench into the
disarmament works at Geneva and
prevent anything more than face
saving OIItcOnoe-if that