THE AGE OF STEEL.

Putaruru Press, Volume VII, Issue 270, 10 January 1929, Page 1

THE AGE OF STEEL.

A RECORD OUTPUT. The year 1928 bids fair to record the outrun and consumption of over one hundred million tons of steel in the world, writes an American paper. The pre-war use of steel amounted to around three-fourths of that volume. The most impressive feature of this use of steel is that it is almost entirely for the use of peace, since little is now going into war- 1 ships, armament and projectiles. I Half the world’s steel is made in the | United States. The outturn of Great Britain has increased but little, that of Germany has been maintained despite loss of coal and iron mines, the production of France has doubled. The steel exports of France and Belgium have increased; those of Great Britain, Germany and the United j States have declined. I The outstanding difference be- [ tween the United States and Europe I lies in the home demand. Europe j must seek abroad annually export outlets for a relatively large part of her outturn. We prize steel exports, to he sure, but the export trade is relatively much less important than in Europe. It is for this reason 'that the steel cartels seem indispensible in Europe. That Great Britain remains outside the cartels has its explanation largely in the trade relations with the dominions of the Empire. Steel is relatively cheap, which, with wider adaptations of uses, explains the greatly expanded outturn of the world. MM— MTOg—n—■ I