Jeremiahs had predicted it. Last week they turned out to be right. OPM officially admitted that almost half the world's steel capacity was not enough for the U.S. It admitted an 1,000,000-ton shortage for the current year. Accordingly the No.1 defense metal was slapped under 100% mandatory priorities.
Thus ended the long Battle of Steel between U.S. defense and production men. Last summer, shortage-predictors looked like crackpots; few but New Dealers were for expansion of steel capacity. In December, OPM's William Loren Batt predicted rationing if expansion did not take place....
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