STEEL. By. J. T. Walton Newbold, C. S. Stevens and
M. Philips Price. (Labour Publishing Company. 2s. 6d. net.) THIS new volume of the " Studies in Labour and Capital " produced by the " Labour Research Department " is a fairly dispassionate account of the wonderful steel industry that has been built up by private enterprise in this country, with a supplementary chapter on France and Germany. The authors lay undue stress on the Warprofits and on the post-War depres- sion ; they appear to resent The transformation of old family concerns into companies owned by thousands of small share- holders, though this change enables the steel workers, if they choose, to become part owners of the 'firms which eniploy them.
" A great new demand for steel " is very far from being im- possible ; nothing indeed is more likely in the near future, if past experience is any guide. The relations between employers and employed are rightly_ shown to be most amicable.
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