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...list of nations modernizing their armed forces appears endless. According to a Brookings Institution study, even the Royal Brunei Navy has spent several million dollars upgrading its signal network. The international trade in nonnuclear arms now tops $18 billion annually???up from a mere $300 million in 1952, and a jump of more than 550% since 1964.* Moreover, this represents only a fraction of total military expenditures: in 1973 the nations of the world spent $240 billion to train, equip and maintain their armed forces. Until a few years ago, nations usually
...rapidly than at any time since the Korean War, but profits before taxes have fallen from $88 billion in 1968 to an estimated annual rate of $84 billion in this year's first half. Workers have won many extortionate wage raises?labor costs have been rising more than 7% annually???but since 1968 the real weekly earnings of the American wage earner have inched up from an average $90.67 to only $91.96. In the past 2½ years alone, inflation has cut the value of the dollar by 12¢ and the once-prized greenback is now the weakest major currency...
...immigrant remittances and tourist spending the U. S. disperses roughly one billion dollars annually???or did for the five years 1923-28 covered by the League survey...
...acres planted 16 years ago and now in full production. To reclaim the 1,000,000 acres of present Firestone jungle, 350,000 Liberians will be needed at a cost of $100,000,000. The tracts if fully developed should produce 400,000,000 pounds of rubber annually??? about half the rubber consumed this year...
Reduction in the public debt saves interest payment of $30,000,000 annually???"good pay," said the President, "for a sound policy...
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