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This article talks about international trade in the period between 1862-1879, or the greenback period. F.W. Taussig, a professor, concluded in 1917 that with the U.S., which was using inconvertible paper money as monetary standard, borrowing heavily and continuously from Great Britain, which was using gold as basis, there will be increased sterling supply in New York and lowered cost, in U.S. paper, of imported commodities. The author noted that when both countries are on a gold basis, there will be an influx of gold from Great Britain in the U.S. and general prices will rise, while they fall in Great Britain. He concluded that the large borrowing operations of the U.S. in the 1860s was an important factor in the disturbance of the normal course of trade.

Presents various econometric models of different countries. Problem of stabilization policy in underdeveloped countries; Productivity and comparative costs of Great Britain and the U.S. in international trade.

This article studies the image of the United States in the British Press. The author says that if the British press is accused of sensationalism or degeneration it is said to have been Americanized by a process of both good and bad general imitation. In a recent survey it was revealed that of some 520 representative and influential Britons, 410 relied upon the British press to keep them informed about the U.S. British school children's primary source was the cinema, which was apparently six times more effective than the next source, British newspapers. Student opinion was evenly divided on the statement, "British newspapers should print more news about the United States." America is more strongly represented in news-gathering agencies in Great Britain than Great Britain is in the United States. There are ten or more American papers and seven news services with offices in London, England. American crime receives more space than all the crime of all the rest of the world, and so does American sex-life.

The purpose of Part I of this paper is to place the contribution of Guttentag-Lindsay in historical perspective and in particular to relate the entire controversy concerning the uniqueness of commercial banks to the nineteenth century dispute regarding the uniqueness of the Bank of England. My objective will be accomplished primarily by showing how closely the Guttentag-Lindsay model parallels the framework used by Bagehot. Bagehot's objectives in Lombard Street (1873) were to disabuse the politicians and the financial community of the view that the Bank of England was not unique (i.e., that it was "like any other bank"), to show in what ways the Bank was unique, and to draw the implications of the Bank's uniqueness for Bank policies. [ABSTRACT FROM AUTHOR]

The basic hypothesis of this paper is that occupational group ties are stronger in Britain than in the United States. A number of test implications are inferred from this hypothesis and the relevant evidence on each of these, to be found in existing comparative studies, is presented. Occupations in the two countries are first compared as independent collectivities with respect to their autonomy, socialization, colleague relationships, deviance, and occupational identity. They are then considered within their normal organizational environment, and the differences between the two countries in the relationship between these occupational groups and the administration of the organization are compared. Three types of organization are distinguished: where one group forms a large majority, where two groups are approximately equal, and where one or more groups form a small minority. Some proposals are made for future research. [ABSTRACT FROM AUTHOR]

This article focuses on the British Press Inquiry. The importance of the media of mass communication for the successful functioning of democratic government has perhaps been more discussed in the U.S. than in Great Britain. The fact is that newspapers are bigger business in England than in any other country. The inter-relationship of the basic elements, circulation, advertising and revenue, is not essentially different from that in the press of the U.S., but certain conditions not existing in equal degree elsewhere have facilitated a concentration and grouping of ownership quite without precedent. The press of a nation of newspaper readers is evidently in for a thorough going-over. Between parliamentary sessions the Cabinet decided to leave the motion for an inquiry to open vote of the House of Commons. This, under the circumstances, assured an investigation, though it kept the Government skirts free in theory of the charge of interference with the press.

This article compares the efficiency of the coal-fired steam-generated electricity in Great Britain, the U.S. and France in 1970. The authors selected this industry for close examination because it had experienced rapid technological progress, its output is homogeneous and the data available are comparatively good. They found that the average level and rate of growth of fuel productivity in Great Britain industry were less than in France and in the U.S. The authors were careful to state, however, that technological backwardness was not the only interpretation of this result. They were aware that partial productivity measures could be very misleading because the contribution of other inputs, particularly capital, is ignored. Furthermore, this paper shows that the percentage increase in output in Great Britain from 1949-63 was higher than that in France and in the U.S., while the percentage increase in capital, measured by generating capacity, was much lower than in France or the US. This difference could be interpreted as implying that the productivity of capital in Great Britain industry was rising relatively to that in France and in the U.S. and thus that the industry in Great Britain was technologically forward. However, there are other interpretations, because capital productivity is also a partial measure of productivity. Thus, this paper suggests that there is a need a measure of productivity which reflects the simultaneous influence of all inputs and output and a production function provides such a measure. This article also estimates production functions for this industry.

This article presents comments on the research paper by Joseph Aschheim entitled "Supplementary Security-Reserve Requirements Reconsidered." Presented are comments on how the volume of bank deposits is regulated in Great Britain. The author states that Aschheim's analysis is "limited to supplementary security-reserve requirements with the objective of insulating bank-held government debt, in whole or in part, from the impact of restrictive monetary policies on the private credit market." Comments on the liquidity ratio in Great Britain are also provided.

The article presents the author's comparison of the patterns of publicity, privacy, and secrecy between the U.S. and Great Britain. In Great Britain, the equilibrium of publicity, privacy, and secrecy is more stable, and its deviations from the normal state are smaller than they are in the U.S. The British governmental papers which are not published at the time as part of government policy, are opened to scholarly inspection only after a very long lapse of time and even then with restrictions. On the other hand, in the U.S., government documents are made available to historians without long delay.

This paper shows that suicides increase immediately after a suicide story has been publicized in the news papers in Britain and in the United States, 1947-1968. The more publicity devoted to a suicide story, the larger the rise in suicides thereafter. The rise in suicides after a story is restricted mainly to the area in which the story was publicized. Alternative explanations of these findings are examined; the evidence indicates that the rise in suicides is due to the influence of suggestion on suicide, an influence not previously demonstrated on the national level of suicides. The substantive, theoretical, and methodological implications of these findings are examined. [ABSTRACT FROM AUTHOR]

This paper analyzes the empirical utility of consensual and conflictual theories in explaining the social cohesion of the liberal democracies of Britain and the United States. After clarifying conceptual problems of value consensus theory and Marxist theory, it examines the forms and extent of value-commitment in these countries. The conclusion is that both theories grossly overstate the amount of both value consensus between individuals and value consistency within individuals that actually exists. Cohesion in liberal democracy depends rather on the lack of consistent commitment to general values of any sort and on the "pragmatic acceptance" by subordinate classes of their limited roles in society. Suggestive evidence is also found for the existence of some "false consciousness" among subordinate classes. [ABSTRACT FROM AUTHOR]

The article analyzes the existence of an eight-year generating cycle in the U.S. agricultural system. According to the author, the eight-year cycle in the crops have persisted from 1760 to 1918, which have induced derived cycles of prices which are reflected and verified in the century of Sauerbeck index numbers of general wholesale prices. Pieces of evidence presented by the author include the analysis of a century of prices and a paper on "A Comparison of the Fluctuations in the Price of Wheat and in the Cotton and Silk Imports Into Great Britain," by J. H. Poynting.

Presents information related to several articles related to economics and statistics. Statistical discrepancies in the Great Britain national income estimates; Issues related to postal finance in the United States; Problems of time-stream evaluation.

In this paper we examine the effects of the policies of wage and price restraint that have at various times been employed in Britain since 1945. We have taken the two-equation model that has been studied extensively in the context of data for both the United Kingdom and the United States,[2] and have assumed that, although far from perfect, this model will be a good enough statistical description of wage and price inflation to allow it to catch any major influence of wage and price restraints. In order to see how the potential effects of incomes policies should be specified in this two-equation model, we are forced to examine the derivation of the equations in some detail. In this process we discover that shift dummies which have been used by other investigators[3] to catch the effects of incomes policies are inappropriate and that their use can give rise to misleading results. After conducting tests more satisfactory than those employing shift dummies, we conclude that the data are not inconsistent with the view that wage and price restraints have usually been ineffective in restraining inflation, and also that the restraints have sometimes actually had the effect of raising the rate of inflation above what it would otherwise have been. This perverse effect is very noticeable in the most recent periods of "restraint" since 1966. [ABSTRACT FROM AUTHOR]

Statistical data which may be useful to students of economic change are presented in this paper. It interprets long-run statistical series on the growth of educational employment in the United States, Great Britain, and Germany, and provides information on the changes in the relative importance of employment in public schools to total governmental employment and to total employment over the long run. Finally, an analysis of the statistical record indicates that some potentially interesting interrelationships exist between the different proportions of school-age population attending public school, teacher-student ratios, and different ratios of school-age populations to total employment in these countries. [ABSTRACT FROM AUTHOR]

Empirical estimates of marginal tax rates have frequently been made in the U.S., but much less commonly in Great Britain. The need for such information would seem to be just as great and so it may be the complications of British tax arrangements, the form in which the British data are presented or the relatively greater frequency of tax rate changes in that country which have deterred investigators in the past. This paper presents the first results of some investigations into the marginal rate of personal income tax, including surtax. It is hoped to follow up these results with those for other taxes at a later date, but personal income tax is a sufficiently important element in the Great Britain's tax structure for the conclusions to stand on their own. The method is to make estimates of marginal tax rates on the basis of time series and to check these by their predictive power. Subsequently cross-section data are analyzed and the possibilities of using the U.S. methods with the data of Great Britain or of using quarterly data are explored.

Most of the existing studies on the international capital market are based on a segmented market approach. This approach treats the different national capital markets as separated entities, hardly related to each other. For this reason (under the assumption of market segmentation), comparable capital assets may differ in their return on different national markets. Although market segmentation enjoys a surprisingly large following, it is not the only possible interpretation of the international capital market. The alternative hypothesis, i.e., that prices of capital assets in the international capital market behave as if there is one multinational perfect capital market, should be considered. The one market hypothesis has the advantage of being consistent with much of the accepted economic theory. Also the one market hypothesis is unambiguous where market segmentation can stand for any number of specific imperfect market formations. Market segmentation is widely accepted as the only possible structure of the international capital market. Different currency areas, separated political organizations and trade barriers have been given as a priori evidence for the segmentation of the international capital market. This, however, is not necessarily the case. An examination of the behavior of capital asset prices reveals that the price behavior is consistent with the one market hypothesis. It should be noted, however, that a certain body of data can be consistent with both the one market hypothesis and any one of several specific forms of market segmentation. But as the main theme of this study is to show the validity of the one market approach to the multinational equity market, it is sufficient to show that one cannot reject the one market hypothesis with regard to this market. [ABSTRACT FROM AUTHOR]

The article focuses on a hypothesis that resource endowment influences the composition of industries of long-term foreign investments. It examines Great Britain, which doesn't have much in the way of natural resources, and the United States, which is less dependent on importing raw materials from abroad, and examines how companies in these nations differ in their investment strategies. It states that there is a positive relationship between portfolio and direct investment in Great Britain, and a degree of domestic capacity utilization, while in the United States portfolio and direct investments are negatively related to domestic capacity utilization.

The article discusses issues concerning the agreement on the cessation of nuclear tests. The cessation of nuclear weapons tests has attracted wide public attention around the world. Negotiations on test cessation between the U.S. and Great Britain has started in autumn of 1959. At the course of the negotiations, it is cited that the representatives of the Western powers systematically procrastinating the negotiations and trying to divert them from the real purpose of the conference. It is believed that the proposals of the U.S. government to stop test explosions on the surface of the ground and in the atmosphere, are meant to avoid agreement on nuclear test cessation.

The article focuses on an aspect of confederate finance during the American Civil War. The attitudes of France and Great Britain toward the American Civil War were important to both the South and the North; and these attitudes also had a bearing on any European financial operations involving the disunited states. At the beginning of the war, the ruling classes of both France and Great Britain were in sympathy with the Confederacy. Because of his colonial plans in the western hemisphere, French President Louis Napoleon was in favour of intervening on the side of the South, but he could not do so without the concurrence of Great Britain with whom France was joined in an entente. Great Britain was unwilling to undertake such an overt action, partly because a large segment of English liberals and English working men saw the Civil War as a struggle of free versus slave labour and hence supported the North even though southern cotton was wanted for English mills. Although France and Great Britain both issued proclamations of neutrality, thus according to the South, the status of a belligerent nation rather than an internal territory in rebellion, neither they nor any European nation ultimately took the further step of granting diplomatic recognition to the Confederacy.

One means by which planning agencies may "hear" the constructive views of the public is the questionnaire technique. "A questionnaire is not just a list of questions. . .. It is essentially a scientific instrument for measurement and for correlation of particular kinds of data . . . it has to be specially designed." (Oppenheim). This paper considers the problems of questionnaire design, a number of examples of the use of the questionnaire in the United States and Britain, and attempts to draw lessons and profit from experience for those people committed to the use of the technique in exercises of public participation in the planning process. [ABSTRACT FROM AUTHOR]

In a previous paper [12], an attempt was made to show how spectral techniques could be used to compare the effects of two seasonal adjustment procedures on the series to which they were applied. The two procedures compared were: (a) the technique currently used by the Bureau of Labor Statistics for seasonally adjusting employment, unemployment, and labor force monthly statistics, and (b) the so-called "residual" method, proposed by Brittain [2], Samuelson [16], and others. Spectra of the original and the seasonally adjusted series and the cross spectrum of the two were used to aid in the assessment of whether either procedure removed more than could be considered seasonal, introduced spurious regularities, and/or distorted temporal relationships. It was concluded that both techniques removed more than seasonal effects from, and produced some temporal distortion in, the series to which they were applied. Neither method appeared to be superior to the other. It is the purpose of this paper to carry the previous analysis one step further and to compare the BLS procedure with a modified version of the regression method of seasonal adjustment suggested by Cowden [3] and Mendershausen [11], and recently revived by Harman [9, 10] in an exceptionally sophisticated form. In addition to Hannan's work along the lines suggested, Nettheim [13] and Rosenblatt [15] have made studies. Rosenblatt [15] has carried out analyses similar to those reported here. [ABSTRACT FROM AUTHOR]

The article discusses documents regarding U.S. history contained in the British Public Record Office. The author discusses the consolidation of several record storage offices as well as the British State Paper Office and notes the creation of the British Record Repository. He comments on his efforts to assist American diplomat George Bancroft in his research on U.S. history and describes historical documents related to U.S. in the Public Record Office, including colonial charters, papers from the British Board of Trade and correspondence with British secretaries of state in America. The chronological ordering of the records and the inaccuracy of some documents written by former British secretary of state Joseph Williamson are discussed.

The article focuses on asset valuation in dividend decisions. The law is greatly concerned with keeping intact the amount of capital contributed by stockholders so that most of the general corporation statutes prohibit the payment of dividends from that contribution. This limits the source of such corporate distributions to surplus, which is the excess of the assets over liabilities and capital. In order to determine whether or not a corporation has a surplus, it is necessary to value the assets so that a comparison may be made with the total of the liabilities and the capital stock. The paper reviews the Great Britain and the U.S. dividend decisions involving asset valuation with the object of learning what assets are recognized and how they are valued by the courts when they compute the amount of surplus available for dividend purposes. In the valuation of corporate assets, money due but not actually received may be considered if there is no reasonable question of payment. Among the receivables recognized in the dividend decisions are accounts, notes, overdrafts, loans, bonds and guaranties.

This paper explores the role of intergenerational wealth transmission in economic inequality. A British study in the twenties by Josiah Wedgwood related the probated wills of a sample of wealthy men to the wills of their fathers, it was followed a generation later by a similar study by C. D. Harbury. He portrayed the father-son wealth association by displaying the wealth distribution of fathers of a given group of wealthy sons. Harbury and Wedgwood present bivariate percentage frequency distributions which make possible a two-variable regression analysis. The only special problem confronting a U.S. analysis is the decentralized location of fathers' wills. However, Harbury found county court officials very cooperative in searching files and sending photocopies of wills. Other important factors are mother's and in-laws' wealth, and the actual amounts inherited individually by each decedent son. The wealth of the decedent could be interpreted as a proxy for the advantages offered to prospective heirs by favorable environment, educational opportunity, gifts, etc., made possible by family wealth. A strong association would explain, for example, the apparent feebleness of estate and inheritance taxes in reducing inequality. Another important contribution that could be made by a match-up of estate tax returns with heirs' income tax returns is to isolate the importance of the direct material inheritance and the effect of the tax on the estate.

The article discusses the trend of public employment in Great Britain and the U.S. During the last half-century, governments almost everywhere have become far stronger influences in economic life. The paper attempts to provide a quantitative picture of certain aspects of this powerful drift. It is primarily concerned with Great Britain, but it includes some comparisons with the U.S. The measure of size, which has been studied, is the number of persons employed by governments in Great Britain considered in relation to the size of the British labor force. These data are traced for a sixty-year period. They are analyzed so as to distinguish employment at central and local levels and in various functions and they are compared with similar measures for the U.S. In 1891, less than 4 per cent of the working population was employed by government at all levels, central and local, in both civilian and military capacities in Great Britain. A period of rapid expansion in the size of government was opening. Nevertheless, 1890 does not represent the beginning of the development from which the structure of the modern British state emerged. That development started well over a century before and in some of its aspects, of course, much earlier still.

As war prosperity brought an end to the worst depression in history, there was general agreement that preparations should be made to prevent a similar disaster in the future. Even the wartime government of Great Britain, despite its basically conservative character, accepted as one of their primary postwar aims and responsibilities the maintenance of a high and stable level of employment in the 1944 White Paper on Employment Policy. In the U.S., the same movement led to the passage of the Employment Act of 1946, with its obligation to promote maximum employment, production, and purchasing power. Although one of the things to be contained in the economic report provided for by the act is a review of economic conditions during the preceding year, there is nothing else in the act which specifies the period to which recommendations are to apply. But the author believes that most economists have from the start felt that the basic function of the council was to prevent serious depressions such as that which struck in 1929.

This paper describes the results obtained in administering a modified Terman intelligence test to 327 Greek children aged from 7 to 12 years. A negative correlation between intelligence and family size was obtained. The results are compared with those obtained in similar inquiries in Britain and the U.S.A. [ABSTRACT FROM AUTHOR]

In this paper the author stresses the importance of the time factor as a fundamental variable in the process of attitude change, as shown in national voting trends in Sweden, Norway, Great Britain, and the United States. More specifically, he asks: Why do these Voting trends tend to take the shape of smooth time series? He suggests alternative reasons, which he labels the "stimulus" and the "response" hypotheses, and devotes particular attention to an explanation and elaboration of the latter. [ABSTRACT FROM AUTHOR]

The present paper is a report of the help patterns among older people and their adult children in three countries—Denmark, Britain, and the United States. The data come from interviews conducted in mid-1962 with nationwide probability samples of approximately 2,500 persons aged 65 and over in each of the three countries. Family help patterns in old age in Denmark, Britain, and the United States differ by the social class position of the older person. The class position of old people effects primarily the size of their immediate families, their family structure, and their living arrangements. While the social class of the old person effects the magnitude and direction of parent-child help, persons in every social class report that they help their children and that their children help them. [ABSTRACT FROM AUTHOR]

Variation in market organizations among countries has attracted the attention of few economists. This paper compares concentration ratios in the U.S. and Great Britain. The hypothesis tested is whether differences in concentration can be explained by differences in market size. A separate but related question is whether the concentration ratios of paired American and British industries are correlated. The last section of the paper determines whether industries with high concentration in the U.S. are also highly concentrated in Great Britain.

It has been said of personnel managers that they are an introspective lot¹; so too apparently are those who teach industrial relations. Recently a symposium in a learned journal was concerned with the problem 'Are Labour Courses Obsolete?'--a question which seemed to have been posed by the fall-off in the enrolment of students in the United States since the post-war peaks.² The object of this paper is to stimulate further discussion on the nature and content of courses in industrial relations, particularly those now being offered in business schools. It seeks to do this first by reflecting on the scope of industrial relations as a field for study and then by evaluating one approach to it. [ABSTRACT FROM AUTHOR]

Presents information related to several articles on economics. Economic growth and productivity in the United States, Canada, Great Britain, Germany and Japan in the post war period; Dividend policies of electric utility firms; Relationship between the quantity of materials imported by the United States and the level of industrial production and prices of imports.

This article analyses the utility of Yalta Conference during the World War II attended by British Prime Minister Winston Churchill and U.S. President Franklin D. Roosevelt. Here it is advisable to point out that, for the past forty years, diplomatic documents have been in bad odor. This is not the first time the taxpayers have been given a mutilated edition of diplomatic transactions of Great Powers. The colored books of the warring governments of the First World War were a scandal that provoked a storm of criticism. After the publication of the secret treaties made by Great Britain, France and Russia during the years 1914-17, no one should be so simple as to place a prima facie value upon what is tendered in the way of state papers. Such is the case in this instance also. Surely it is not to be imagined that Roosevelt was conversant with the secret dealings of Great Britain and France, and later, after the Nazi attack, with Russia. He would be a simple-minded person who thought for a moment that our President was a student of the secret diplomacy of the First World War. Also, the author doubt whether there was one of his advisers who had taken the trouble to learn how the prospective spoil was to be shared by the victors after the peace settlements were made.

Death rate variations for the United Kingdom and the United States are spatially compared by means of maps. The data mapped include death rates from all causes, and infant mortality. In the United Kingdom, the association between high death rates and areas of industrialization, exploitation, and dense population is very marked. Such an association is somewhat less definite in the United States where the high rates associate more easily with areas of poor socio-economic circumstances such as Indian reservations, Spanish-American districts, and most particularly, the high-proportion Negro areas of the South. In both countries, however, longevity in rural areas and in urban places of limited industry is likely to be greater than in areas not having these attributes. The quality, of biostatistics in the United Kingdom has been superior to the United States. The recently launched National Health Survey, however, promises to greatly improve the biostatistic position of the United States. The special contribution of medical geography is the mapping technique and the interpretations which potentially it allows. At the national scale the sensitivity limits of such an approach must be recognized and there can be no simple explanation of apparent mortality patterns. Such maps as these are designed to focus on areas where detailed studies may be of benefit in substantiating cause-and-effect relationships. [ABSTRACT FROM AUTHOR]

The article provides information related to international defense and strategy. A written agreement on missile bases was signed by the U.S. and Great Britain in Washington on February 22, 1958. The British government has issued an annual White Paper on Defense on February 13, 1958, which states that Great Britain would use nuclear weapons if any attack occurs in the country. John A. Wheeler, professor of physics, urged the Advanced Projects of the Defense Department to form a national defense research center which would pool the best talent working on the service's missile programs, nuclear weapons, and electronic programs.