The interesting thing about the Royal Steel barrels on L.C. Smiths, they were the cheapest barrel offered. On their F Grade hammer gun in 1906, it was offered with three barrels types, Royal Steel at $20.00, English Stub Twist at $23.00 and Good Damascus at $25.00. So even though they were steel, apparently they weren't as good as the others. (plus I'm sure it had to do with man hours to make and to import)

David