Production Looking Up
There was a stronger and more confident note in Mr. Attlee's voice when he spoke at the Lord Mayor's dinner at the Mansion House on Monday. He spoke of production, and the latest news about production is good. Coal output at nearly 4,250,000 tons last week—the first fruit of the decision of the miners to work over- time—was nearly high enough to revive the almost dead hope of 200,000,000 tons this year. Steel production at an annual rate of 14,316,000 tons in October, the highest monthly level in history, gives good hope of the achievement of the 1948 objective and of progress to still better things. Mr. Attlee's catalogue of the other industries —notably aluminium, chemicals and vehicles—which have made great advances, was familiar but none the less welcome. What good news there is must be properly advertised. But the qualifications must not be forgotten. A fairly general seasonal rise in industrial pro- duction is usual at this time of the year. Coal production is still not nearly high enough for prosperity, recruitment at the moment is flagging and the welcome effort of the miners contrasts with the less noble endeavours of their union leaders to remind the public that the suspension of the five-day week is strictly temporary and that the demands for higher pay irrespective of output are by no means ended. The buoyant steel production has its counter- part in strains on transport and on supplies of scrap, pig-iron and coke. Nevertheless the industry is looking forward once again to a further development plan in which the place of the present large provision for renewals will be taken by a larger proportion of re- sources devoted to new development projects. This is the right spirit. The latest news about production is provisionally good. It will not be possible to describe it. as good without qualification until there is evidence that the improvement will be sustained.
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