of capitalist interests—would seem to pervade the industry 
at the present time. For we have no hesitation in assert- 
ing 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 organis- 
ing 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 con- 
clusion that this great basic industry is in danger of its 
resources being wasted and its potentialities lost by a com- 
bination of adverse forces represented by political ex- 
pediency 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