Ashburton Guardian Magna est Veritas et Prævalebit. MONDAY, APRIL 10, 1933. BRITISH IRON AND STEEL.

Ashburton Guardian, Volume 53, Issue 153, 10 April 1933, Page 4

Ashburton Guardian Magna est Veritas et Prævalebit. MONDAY, APRIL 10, 1933. BRITISH IRON AND STEEL.

The iron and steel industry of Britain is so representative, even basic, that the news of a further step toward re-establishment of its prosperity is of great importance and interest. For a long period the industry has been in difficulty. Broadly speaking, it is located in what are now the most depressed areas of Britain, and its average of unemployment —since it is one ot the greatest of labour - employing industries —has been much higher than the general average of all industries taken together. The position has persisted from 1924, and fn 1930, for the first time, imports exceeded exports. A still deeper decline took place in 1931, and it was not until the middle of last year that the downward tendency was arrested. Earlier efforts to put the industry on a better basis were commendably energetic. ' They included the formation of a confederation of iron and steel trades, a development intended to meet the successful competition of such foreign producers as the United Steel Corporation of America and the huge steel merger of Germany. It was realised, however, that something else was necessary. The foreign competition was so intense —it was conducted regardless of production at an economic levelthat without some measure of tariff protection the outlook would continue to be unpromising. Representatives of employers and employed urged the taking of this step. Satisfactory reorganisation of the industry was declared by them to be contingent on it. But their request was met hesitatingly, in the natural fear that an industry producing the raw material for so many other industries might be profited at their loss. Last year, however, under the Import Duties Act a protective duty totalling per cent, was placed on a wide range of semifinished iron and steel products, with a similar duty on pig iron. In an industry so diversified, when its many branches of manufacture are considered, there is necessity for patient handling of intricate problems. This consideration weighed with Mr Runciman when the Government was first pressed to give the industry a large measure of protection. There are two objects in view —a secure home market and a supply of cheap and good materials to users in Britain. The imposition of tariff duties must be viewed as a means to an end, not as an end in themselves. The new association, which has been assured of whatever Government support is necessary, has before it a wide and important field in facilitating amalgamations, promoting exports and negotiating with foreign governments. In proportion as it avails itself of its opportunities will the industry be benefited.