Iron and-Steel The scheme of reorganization, as it is at
present understood by the iron and steel industry, does not appear to go as far as the least that the Government and the nation 'have the right to expect—which is that waste should be eradicated, redundant and obsolete plant closed 'down, and free elbow room provided for the most • efficient producers.' This will not be attained by a plait to. fix • prides 'in the home .market, prevent by means Of qUOtas an -increase in production, and actually reduce the output, of' many efficient units. To reorganize the industry in • that spirit.would be to fossilize it. It would enable uneconomic !and 'unbalanced production to continue,ut.the expense of progressive works, which, as the-Chairman of the Whitehead Iron and Steel Company has said, can find an ample .margin in present prices to earn a good profit.. • It might squeeze money out of the home consumer, but it would never restore our export trade.
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