DEVELOPMENT OF THE INDUSTRY, 1870-1930 59
From the above a slowing down of the general rate of industrial
development in Britain is indicated. The pig iron figures show
that consumption per capita ceased to increase soon after the turn
of the century. The steel figures also suggest a retardation of develop-
ment if it can be assumed that the upward leap prior to 1913 was
due to pre-war rearmament. The decline in the pig iron figure
after 1920 is probably due to the greatly increased use of scrap
while the lack of any expansion in the post-1913 steel figures supports
the suggestion of a serious slowing down in the general level of
industrial development. In other words, the demand for steel
remained static in the post-war decade, indicating a relative stag-
nation of the steel industry compared with industry in general. In
contrast we may note there was a heavy re-equipment of industry
in Germany after 1920, and in the U.S.A. the steel industry de-
veloped on the basis of making capital goods for export.
CONSUMPTION PER CAPITA. FINISHED IRON AND STEEL (INGOT EQPWAI-ENT)
Britain Germany France Belgium
Tear Ib. Ib. Ib. Ib.
1913 330 405 238 326
1924-25 363 332 266 246
1929 400 396 363 418
6. BRITISH HOME MARKET AND FOREIGN TRADE
(a) Pig Iron.—Table 8 shows that pig iron consumption rose
steadily from 1870 to 1913, increasing, by approximately 75 per cent.
After the war it fell, being about the same in 1920 as in 1900,
and from 1925-30 approximately the same as in 1880.
Exports of pig iron were broadly speaking just above i million
tons per annum from the beginning of the period to 1913. Expressed
as a percentage of the home market, therefore, they steadily de-
clined from approximately 20 per cent to 11 per cent. In the decade
1920-30 exports fell precipitately, being 7*5 per cent of consump-
tion in 1925 and 5 per cent in 1930.
It may be concluded from the stationary position of pig iron
exports, in spite of a rapidly rising world demand, that the home
industry was not strong enough to compete with the development
of the overseas industries. The position in the decade 1920-30
particularly suggests internal weakness.
Quantitatively, exports were maintained, but they fell in relation
both to output and consumption. At the same time, however,