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It is interesting also to note that of the total products: 3 ‘
of 1929 the producing countries found absorption ‘in th Y 5 /
own home markets for about 88 per cent. of that produc * Kiel x
tion. As regards the British market, while there are no “<
axact figures of iron and steel consumption available, the
following table sufficiently indicates its importance in relation
 to our production of raw steel :—

HOME CONSUMPTION OF IRON & STEEL
(Millions of Tons.)

Production of steel ingots
 and castings
* Imports of iron and
steel CO ..
Total  .. 2s
* Less exports of iron
and steel .. Lo.

Home consumption

1018

7:66

2.01 |

9-67 |

3-84 |

E.Qo |

1927

1928

1920

1980

9:10 |

88.59

9:85

~.80

3.80

2.78

2.67 |

2.60

12-90

11-80

12-82 | 9-90

3-86 | 8.81

3.83 | 2.84

0:04! 749! 8.491 7.06

* Excluding pig iron and ferro-alloys.

We have previously indicated that some of the main
causes of the present situation in the iron and steel industry
 were outside its control. These have arisen from
the War and the financial policy of this country.

The industry played a vital part in the conduct of that
campaign, but it left an aftermath of difficulties which,
while they have been considerably modified. have not yet
disappeared.

During the War the entire activities of the industry
were directed to meeting the needs of the country, and in
the last three years of that period the most intense effort
was made to increase productive capacity, with the result
that, as already disclosed, British capacity for production
of raw steel was increased by 50 per cent. There would
have . been a development of productivity had the War
not have taken place, but the extent of this would have
borne a truer relation to the normal increase in demand
tor iron and steel.

As it was, the termination of the War and the cessation
 of Government requirements threw the industry back
on its own resources with an enormous increase in productive
 capacity, while its normal trade relations had

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