Pearlite with its lamellae oriented mainly parallel to the longitudinal direction was prepared by Bolling's method of transformation in a steep temperature gradient. The Fe-0.7 pct Mn-0.9 pct C pearlite was drawn into wire and also into strip in dies designed to minimize macroscopically nonuniform deformation. Cross sections of the drawn wires and strip were examined by conventional and high-voltage transmission electron microscopy and were analyzed by quantitative metallography for a) average interlamellar spacing, b) distribution of interlamellar spacings, and c) orientation relationship between the cementite lamellae and the slip systems in the ferrite. The strength of pearlite is proportional to the reciprocal square root of the average interlamellar spacing, and the proportionality constant analogous to the Hall-Petch constant (k) is related to the strength of the cementite lamellae. If the stress for the propagation of slip through the cementite is assumed constant, a Hall-Petch type of equation can be derived for the strengthening of the pearlite against slip in the ferrite by piled-up groups of dislocations. Evidence for the plastic deformability of cementite is presented; sufficiently thin cementite plates were fully plastic. The exponential strain hardening of drawn pearlitic wires and of rolled pearlite is explained in terms of locally inhomogenous deformation revealed by the lack of fragmentation of the lamellae.