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Regulatory control of entry (exit) in banking is implemented by varying entry standards, i.e., of capital requirements and minimum levels of applicant competence and character. If regulation of entry is to promote norms of industry performance, this form of control may be neither adequate nor desirable. In this paper, we formulate a model of the market for bank charters in order to evaluate alternative methods of entry control. The first section considers salient properties of bank charters, the demand for and supply of charters, and entry, exit and equilibrium in the charter market. This discussion proceeds as if unit-banking prevailed universally. In addition, complications posed by the fragmentation of regulatory responsibilities are circumvented by proceeding as if there were but one bank regulatory agency. In the second section, we explore the model's implications for maintenance of industry stability, for interpretation of the "capital adequacy" question, and for regulating entry and exit by controlling banking industry profits instead of varying entry standards. In addition, we adduce rudimentary empirical evidence in support of the feasibility of profits control. [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 He comments on his efforts to assist American diplomat George Bancroft in his research on U.S. history and describes historical documents related to U.S. in the Public Record Office, including colonial charters, papers from the British Board of Trade and correspondence with British secretaries of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 the establishment of a Connecticut land bank chartered in 1732 by the Connecticut assembly under the title of New London Society United for Trade and Commerce. It is evident from the language of the charter that the intention of the Assembly was to permit the formation of a joint stock company, in which the members should participate in proportion to the amount of their investments. The alleged purposes of the society are sufficiently indicated in its title. The generally accepted account of the career of this society is that the society was formed in 1730, being legalized and patronized by the colonial government, and went into immediate operation. The Assembly also dealt with the subject of protecting the rights of possessors of the society bills. An act was passed appointing a court of chancery to hear and determine according to equity all controversies about said bills and the doings of said society and the several officers and members thereof. The preamble opens with a statement that sundry persons have of late mortgaged their lands to John Curtiss, treasurer of the late New London Society for Trade and Commerce, and to his successor, or to Daniel Coit, with a design to form themselves into a society for trade and commerce.

The article discusses the system of public finance as established under Alexander Hamilton, former head of the U.S. Department of Treasury. It discusses the qualification of Hamilton and the huge work that was put forward. It discusses how he went about formulating a plan for a financial system based on experience of earlier financial systems, mainly the English financial system. Features of Hamilton's system of finance which are similar to those of the English system are his scheme for funding domestic debts, his plan for a sinking fund and the charter of the first Bank of the United States.

The article discusses the Institute of Medicine of the National Academy of Sciences. The article implies that it has been ten years since the organization existed to be able to be the representative and a prestigious body of health professionals and sciences. The organization started to conduct studies relating to health problems in the United States and created position papers on cardiac transplantation and on physician's assistants. It is stated that the writing of a Charter and Bylaws is regarded as the most significant contribution of the organization. The article investigates the present condition of the instituion including its membership aspect.

Periodically for more than a hundred years business interests have campaigned to transform this old New England town into a city. Displaying contempt for the venerable town-meeting form of government, leaden have utilized propaganda techniques in an endeavor to succeed. Although frustrated, they have achieved "big government" through adoption of the manager system and other important policy decisions. Conflict continues, even though the alternatives for obtaining the political goal have remained the same during the past century. The local newspaper has supported the movement, but its techniques have varied widely over the century. Unorganized majorities have opposed each attempt to obtain a city charter. Now, however, a more determined minority, mostly nonnative, plans a new attempt. Behind the public hierarchy is a social elite whose zeal for reform resembles a crusade. [ABSTRACT FROM AUTHOR]

This article presents the role of the American Accounting Association's Committee on Cost Accounting Concepts and Standards. The Committee on Cost Accounting Concepts and Standards has a somewhat different position in the Association hierarchy than has the Committee on Accounting Concepts and Standards. The latter committee has received from the Association essentially what amounts to a charter. Once the general committee has arrived at certain conclusions, the Committee's work will receive rather automatic approval for publication. On the other hand, the Cost Committee has never had any such understanding with the Executive Committee. The Executive Committee may, at its discretion, publish or not publish its findings. The Committee on Cost Accounting Concepts and Standards will retain its position as an exploratory and experimental committee. Since this Committee works with data that is, for the most part, a step removed from the firing line of law and tradition, it should have a freer and less official position within the Association.

The article discusses the problems of the charter of the International Trade Organization (ITO) signed in Havana, Cuba in March 1948. The Charter of the International Trade Organization, which was signed by fifty-three nations at Havana in March, 1948, is certainly the most comprehensive international agreement on foreign trade ever negotiated. In both the Havana Charter and the Geneva Agreement there has been developed an approach to the problem of multilateral tariff reductions which gives promise of being more successful than anything hitherto attempted in this field. Previous multilateral tariff negotiations have generally broken down over the difficulty of agreeing on a formula for over-all reductions which would be acceptable to both high-tariff and low-tariff countries. In the ITO Charter, no such formula has been sought. On the contrary, reliance is placed on a broadened application of the type of bilateral bargaining which has been successfully employed in the American Trade Agreements Program. The Havana Charter lays down the general rule that ITO members shall not employ quantitative restrictions on either imports from or exports to other members. The exceptions to this rule, however, are so extensive that it is not easy to weigh the significance of the general commitment.

The article presents the official charters granted to representatives of one division, one federation and twenty-two chapters of the Council for Exceptional Children in several states in the U.S. The division, federation and chapters includes, (1) Division for Children with Communication Disorders, (2) No. 458 Saskatchewan Federation, (3) No. 55 North Metropolitan Chapter, Michigan, (4) No . 91 Alamo Chapter, Texas, (5) No. 147 Charlotte Mecklenburg, Chapter, North Carolina, (6) No. 247 E. George Payne Chapter, New York, (7) No. 256 San Mateo County Chapter, Alberto, (8) No. 270 San Francisco State College Chapter, California, (9) No. 344 Shasta Chapter, California, (10) No. 346 Kappa Chapter, Pennsylvania, (11) No. 379 Central New Jersey Chapter, New Jersey, and (12) No. 414 Northwest Washington Chapter, Washington.

Presents an abstract of the article "The Photographing and Reproduction of Manuscripts," by J. Viellaird, published in the October 1954 issue of the periodical "UNESCO Bull." Possibility of international cooperation due to technical microfilming resources; Submission of views on the need for international library regulations by twenty-six countries; Usage of microfilm to make consultation of manuscripts and documents in libraries easier.