Iron and keel .
It is not Often that we hear a great captain of industry declaring that there: must be some form Of Government control (temporary) before the industry can fully recover. But that was what Sir William Firth, ehairnian of the management committee, said at the London Iron and Steel Exchange dinner last Tuesday. Presumably he was not thinking of Government ownership or direct management, but of statutory organization 'which- would compel owners to shut down onVof-date works and submit to central control. We have heard a great deal about the progress of the rationalization scheme' With' a view to that reorganization which, the Govern- ment assured us, must be carried Out if the iron and- steel trade were to continue to reap the benefit of Pro- tection. Under that shelter their production has increased dining the last year, and more iron and steel has been provided for the home market. But is the scheme contemplated a real national scheme, which will not only eliminate price competition in the home market, but also reduce the cost of production, and so facilitate exports? Sir William Firth says No. If he is right, the owners, who have received their tariff, are not carrying out their side of the undertaking.
* *
Previous page
