National Production and the Supply of Steel
Calls for Expansion of Basic Steel Capacity
The long-continued postwar shortage of steel has given rise to sharp controversy over the ability and the willingness of the American steel industry to meet the requirements of an economy geared to full production and full employment. The industry attributes the shortage to an abnormal and temporary demand resulting from war-time dislocations. It hesitates to expand its productive capacity on anything like the scale called for by its critics because of the risk that steel demand will collapse in a postwar recession two or three years hence.
Uninterrupted production from existing facilities [Walter S. Tower, president of the American Iron and Steel Institute, said in June] should be more than capable of bringing ...