Steel  especially  is  in  demand,  and  it  is  probable  that  the  steel  pro-
duction of  this  year  will  exceed  that  of  last  year.  There  is  also
special  activity  in  the  production  of  iron  for  iron  ships,  English  and
Scotch  shipyards  being  very  busy,  and  requiring  large  quantities  of
both  iron  and  steel.  The  improved  foreign  demand  within  the  past
two  years  for  British  iron  and  steel  products  of  all  kinds  is,  of
course,  the  main  cause  of  the  prosperity  that  the  British  iron  and
steel  industries  are  now  experiencing,  but  during  these  two  years
there  has  also  been  a  partial  revival  of  general  industrial  activity  in
Great  Britain  herself  which  has  contributed  to  the  prosperity  of  the
particular  industries  mentioned.  The  only  unsatisfactory  feature  of
the  British  iron  trade  that  now  exists  and  is  worthy  of  notice  is  the
large  accumulation  of  pig  iron  beyond  the  demands  of  the  domestic
and  foreign  markets ;  but  England  and  Scotland  had  so  largely  ex-
ceeded in  1880  the  production  indicated  by  legitimate  orders  and
ordinary  British  foresight  as  sufficient  for  the  time  that  this  accu-
mulation, while  productive  of  low  prices,  should  not  be  permitted  to
obscure  the  fact  that  the  sales  of  pig  iron  by  Great  Britain  this  year
will  be  far  beyond  the  average  annual  sales  of  the  last  ten  years.
