ECONOMICS: Cornerstone of Steel

After four months of debate the Allied Control Council laid the cornerstone of Germany's future economy: Germany will be allowed a maximum production of 5,800,000 tons of steel a year, about 25% of the prewar level. The figure was a compromise among the Big Four, much closer to the original Russian figure (3 million tons) than to the British (12 million).

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!