VTECH i i = IN < Wy ry. ere = Bibliothey 2 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 re- lation to our production of raw steel :— HOME CONSUMPTION OF IRON & STEEL (Millions of Tons.) Production of steel in- gots 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 in- dustry 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 cessa- tion of Government requirements threw the industry back on its own resources with an enormous increase in pro- ductive capacity, while its normal trade relations had f J)