Position of Steel in 1948

STEEL is the basic metal, the main metallic prop of the modern industrial world, a good gage for measuring the state of our complex economy. Any who had doubts on that score should have had them dispelled by the many evidences of public concern over the affairs of the steel industry in recent months. I do not need to relate the various criticisms of the industry, nor the questions about its policies and performance which have come in a rising flood, especially from unthinking and irresponsible sources. But judged from the standpoint of production, or from plans to improve and expand facilities, or from technical progress, the facts about the steel industry are proof of