New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-07
From The London Economist.

will be effected by the war IN
~ the steel group Of trades.
Home manufacturing processes ana
international competitive conditions
will be profoundly changed. British
industry will receive a new lease OF
life. To-day, in spite Of the large
number of men in the army, we are
producing and working up into nm
ished goods steel at rate Of nearly
100000 tons a year more than ever
we did before the war. Not only IS
our manufacturing capacity being
largely increased by new plants and
machinery, but managers are adopt
ing improved methods, skilled men
are speeding themselves up, unskilled
men are acquiring skill and women
are developing wonderful efiici-
ency. Work is being standardized.
Labor is being subdivided and spe-
cialized. Both employers and work
men are coming TO see the advan-
tages Of large-scale production. Brit
ism steel trade prospects are exceed
ingly bright.
With regard to the probable de-
nand for iron, steel and engineering
products after the war, it may be
pointed out, first, that the worlds
agriculture, which is the chief indus
try, employing more people than all
manufacturing trades put together,
is enjoying unprecedented prosper
ity. This prosperity will be reflected
in a huge demand for all kinds Of
non and steel goods.
In the next place, we may conf
IDENTIFY look for great activity in rail-
way building, and this will create a
big demand for steel. On the Con-
tinent Of Europe there will be much
damage and destruction to make
good. In Asia, especially in China
and India and parts of Russia, vast
railway extensions will be under
taken. India alone requires another
10000 miles of railroad. The pros
perity that has come to agriculture
will mean the opening out of vast
new areas, and consequent rail
way building, in many parts Of the
world. Before the war many neces-
sary railroad extensions were be-
midland in nearly all parts of both
North and South America. Eco
nomic conditions and necessities Will
compel the spending of enormous
sums of money on railroad develop
ment and equipment, and this means
huge demand for steel, just as the
arrears in merchant ship construc-
ton and the losses and wastages
Of war do. Our shipbuilders-the
worlds shipbuilders, in fact-will be
extremely busy for at least a few
years. In other words, spell of
activity in the iron, steel and en-
gineering trades is assured.
The world. as just observed, is
still chiefly agricultural. For the
great bulk Of its manufactures, Of
which the chief are now those of
steel, the world depends-or has
hitherto depended-upon three coun-
tries, America, Britain and Ger
many. These three countries. be-
tween them, produce fully so per
cent of the worlds steel goods, and
the demand for steel goods increases
more rapidly than the demand for
any other important class Of COM
modities.
Britain's Lost
Supremacy
Turning now to the question of
competition for the trade in iron,
steel and engineering, what do we
find? The probability is that Brit
ain will regain her recently lost SUI
premacy in the expectation of steel
and steel products The race is be-
tween three countries America
Britain and Germany. America and
Germany, being great agricultural
countries, are in no way largely de
pendent upon the expectation of
manufactures. We are absolutely
| dependent upon such expectation.
Yet, before the war, we had permit
ted ourselves TO be beaten by Ger
many, even in the expectation of
steel-by Germany, almost a self
contained and self-supporting coun-
try, which employed 100000 per
sons in agriculture. against our
2,250,000. Germany, which only eX-
ported 100000 tons of iron and steel
in 1900, against our 100000 tons,
exported in the last twelve months
before the war over 100000 tons,
against our 100000. In the last
three years before the war German
exports were Of the following values :