of capitalist interests—would seem to pervade the industry
at the present time. For we have no hesitation in asserting
 that no great industry in this country is more. €ertile
in resources and none more potential in its possibilities
for healthy expansion.
Raw materials in abundance are still available; the
skill, experience and general capacity of the workpeople
are, at the lowest estimate, equal to those of any other
nation; the genius of our engineers, research workers and
inventors is unquestioned and the industry has certain
natural advantages which do not apply to the same extent
in the countries of its competitors. The world demand
for the products of the industry advances from decade to
decade in ever-increasing volume and in variety of uses.
The scientific discoveries and inventions of the present
century have created entirely new fields of endeavour in
economic production and in consumption of iron and steel.
Moreover, the opening up of the continents of Africa and
Asia now proceeding on the lines of Western civilisation,
the rebuilding of our great cities, and the new requirements
of vast populations provide scope for our metallurgical
industries never contemplated less than half a century ago.
Nor can we disregard in this connection the immense
advantage to be derived from a bold scheme of national
distribution of electrical energy such as is now before the
country.
There remains to be added one factor vital to success,
namely, the right quality of industrial leadership and
organisation. In that connection the Balfour Committee
on Industry and Trade in its Survey of Metal Industries
makes the following interesting comment :—
“The ability of the British iron and steel industry
to retain its place as one of the leading iron and steel
ndustries of the world will be conditioned by many
‘actors ; but, perhaps, above all, by its power to enlist
men of inventive genius, as well as men of outstanding
capacity as organisers. . . . It is for the industry to
make sure that it possesses men of the necessary
calibre who will be able to reassert in the future the
position of the British industry as a leader among
the iron and steel industries of the world.”
We are convinced that the problem is not that the
mndustry is lacking in resources of leadership and organising
 ability, but that it is one of means or method whereby
that quality can be mobilised and given authority to act.
Reviewing the situation over the post-war period and
as it stands to-day, we feel justified in arriving at the conclusion
 that this great basic industry is in danger of its
resources being wasted and its potentialities lost by a combination
 of adverse forces represented by political expediency
 on the one hand and on the other the incapacity
of multifarious interests steeped in a nineteenth-century
‘ndividualism and outlook to evolve a sufficient decree of

( 6