It has been clearly demonstrated in both the first, as well as in the last world conflict, that a nation's ability to wage as well as win a war is primarily a function of its industrial, and particularly its steel making capacity, provided both are directed to munition production.The Axis gambled on their pre-war policy of bullets before butter giving them sufficient initial advantage to decide the issue before the Allies had time to gear their industries to war production.Fortunately for us, Hitler and his advisers apparently underestimated Russia's war potential, although they must have known that Russia was, in 1939, the third largest steel making country in the world, as shown by the following figures: