Every few years the U.S. public is treated to an economic wrestling match in a big steel ring. First, the nation's steelmakers, usually citing wage increases, begin to talk about raising their prices. Then from the U.S. Senate come powerful protests; Republican Robert Taft led the crusade against one of the first postwar hikes in steel prices in 1948, and Democrat Estes Kefauver fought the last one in 1958 by rising to complain in 13 out of 14 consecutive Senate sessions.
This year the familiar match took a new turn: President John F. Kennedy himself stepped in to warn steelmen...
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