Evening star., 1931-12-27

THESE figures show a continued in
crease over the 30-year period. start
ing with a minimum production of
100000 tons and running I'D to a
maximum in 1929 of 56,433,OOO tons,
Admitting that this last represented a
boom year and taking only the average
OF the years 1921 '28 29- 80, we find an
average production of over $4,000, 900
TONS, which 1 think We are safe in as
sumng represents a normal consump-
tlon for our present population,
On this basis, therefore, 1881 with
Its production of only 25,0OO,OOO tons
Is definitely Sub-normal and to find its
equivalent in tons we must go back 81
years to 1910 when the steel production
was 26,Oo0,000 tons At that period our
population was slightly over 90 600 900,
while at the present time it is more
than 123,00O,O0O. or an increase of
about 33 per cent. During this period
great development has occurred in the
varied uses of steel, the automobile
standing out most prominently In 1910
there were produced only $4,000 auto
mobiles and in 1929 over $500, coo cars
were turned out in our great factories.
These figures plainly show the mar
Velous development of the automotive
industry, one of the largest consumers
of steel, and certainly no one will deny
the permanency of this industry nor the
fact that the people not only of the
United States but the who'll world are
becoming increasinly automobile mind
ed. and that it is one of our great naces-
stiles. Many other uses of steel have
increased per capita over this same
period, and it is an unusual year that
does not furnish some number of new
articles produced from steel.
ppccin1iSr1 f1o rf Ho
steel industry is only the result of a
lack of knowledge or consideration of
the facts That the demand will con-
tinue to expand in the future as it has
done in the past, and to at least the
same degree. can well be assumed. be-
cause no other basic material is of
greater Importance in tho increasing
necessities of growing population of
the type we have in the Unitod States.
This is a rich country and its wealth
Is increasing with each passing decade.
We have a people who are ambitious
not only in production. but in consun1p-
ton They are determined to secure for
themselves those material comforts that
make life pleasant and worth living.
Never again will our people go back to
the. days. not so very far removed, of
limited daily existence when they we're
denied not only necessary comforts, but
practically all luxuries Efficiency has
been increased to the point of where
the individual is justified in expecting
as a. result of his work a standard of
living higher in the future than in the
past.
If these facts ere correct, then .hera
Is no question as to continued IN
crease on a large scale in the consunp-
ton of steel and in the prosperity of the
steel industry We will have temporary
periods of depression. as at present,
which, as a rule, follow excessive de-
velopment such as we had in 1929, but
these periods pass away naturally. The
law of averages finds us moving upward
In production and consumption, also in
the standard Of living.
As to what may be expected for 1882,
nothing definite can be put forward at
the present time. The country Is well
1iquidated. prices are low inventories
have been almost exhausted. mainte-
nance has been below normal and the
requirements for mpterial of all kinds
could well be, in 1882. much in excess Of
the average of 192n-1931. However iust
as financial dov"loo~eote r'0"r'v ha""
dominotod b-sine-s dr~inr Tho n2et 81.
or eight weeks. so can this factor rom
tinue to prevail for some months to
come
Until our financial situation is clear,
and money is available for the carrying
on of business and the natural develop
ment that the country requires. see
no possibility Of return to normal
conditions, but do think we have made
% much progress IN the matter OF liqui-