Addressing the British Chamber of Commerce, Charles M. Schwab advocated increased cooperation in the international steel trade, and suggested that steel-producing nations serve the nearest territories by a system of mutual allocation, and thus avoid cut-throat and ruinous competition. This radical suggestion was apparently made from his fears of future German competition, based upon superior efficiency and lower wages. His " world pool " in steel would include particularly England, France and this country.
After-dinner speeches are rarely an important source of business policies, and must not be judged too severely. Nevertheless,...
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