Britain will need vast additions to the amount of steel she can produce. Germany vastly surpasses Britain, and her only hope of matching Germany lies in importing 18,000,000 additional tons annually. America must be Britain's steel. arsenal. foresee a crisis in steel by this coming spring. "They insist decisions be made to increase basic steel production by 15 to 20 per cent.
In the World War, 60 per cent. of US. steel capacity was being devoted to the Governments needs. In the World War Britain was less dependent on the United States.
Moreover, domestic civilian steel demands in everything from autos to electric refrigerators will increase with the, bigger national income.
With demand increasing from three directions (1) domestic defence, (2) export to Britain, and (3) civilian use, the nation today has an ingot capacity of about 83,000,000 tons a year. (normal civilian needs take 58,000,000 tons).
With the higher national income expected in 1941, domestic civilian needs by themselves alone could absorb the prescht steel output, it is asserted.
But Britain needs 27,000,000 tons annually to give her equality with Germany, not superiority.
On a rule-of-thumb, "50-50" basis, mentioned by President Roosevelt, an equal amount, or 27000000 tons, would be reserved for America's own defence needs. This would leave only 29,000,000 tons for civilian use. This would be increased to 46,000,000 tons under the proposal to increase steel facilities by 20 per cent.
Text read from the printed page and cleaned; old type leaves the occasional error.