ABSTRACT
Since 1921 the workers of Britain have suffered net wage decreases of over £10 millions a week. But this had no result in solving the problem, and, indeed, for all industries that were manufacturing for the home market and for agriculture it only made the situation worse, because those whose wages were reduced were often the best customers of the industries. In the sphere of urban industry more far-reaching steps have been taken by industrialists, particularly in Europe, to solve the post-war production crisis on capitalistic lines, i.e. without disturbing the existing system of ownership. Under the forced draught of Governmental necessities during the war, production had outstripped normal demand by a considerable margin. There is little reason to believe that the tendency for the demand for iron and steel to increase has ceased, though it has been held in check by certain post-war conditions.
