STEEL CONSUMPTION
Snt,—In his article on Professor Cole's pamphlet Why Nationalise Steel? which appears in your issue of June 25th, Mr. Taplin points out that Professor Cole has arrived at a figure of 20 million tons of steel for post- war home requirements by merely projecting the rate of increase between 1927 and 1937. He says it is all very simple and it is the sort of thing which gives statistics a bad name. Mr. Taplin might have been even more severe in his criticism since the figures used are incorrect. Professor Cole states that in 1927 home consumption of steel was about 61 million tons and had risen by 77 per cent. to 111 million tons in 1937. It is this rate of increase which he projects forward. But the actual consumption in 1927 was 91 million tons, so that if Professor Cole had made his calculation on accurate figures he would have got an increase between the two dates of 22 per cent., and not 77 per cent., and would have arrived at a figure for the post-war period far below the 20 million tons calculated on the basis of erroneous figures. Mr. Taplin dislikes the crudity of the calculation. He might have reinforced his comment by
also disliking its inaccuracy.—Yours faithfully, R. M. SHONE. Reform Club, Pall Mall, S.W.r.
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