STEEL: Land of Plenty

The tragic irony of the U.S.'s steel shortage was underscored last week by a new report on how much steel the U.S. can now produce. According to the American Iron & Steel Institute, U.S. steel capacity (conservatively rated a good 2½% below all-out capacity) was stepped up 628,350 tons in the first half of 1942 to a colossal 89,198,320-ton total. The increase alone meant enough ingots to build twelve more Victory ships or 1,200 medium tanks every month, and the new total represents 50% of all the world's steel and almost half again as much as the U.S. had at...

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