Search

The article discusses two court cases in which the defendants were charged of indecent assault at the Court of Appeal in Great Britain. One of the defendants was convicted of indecent assault against a female aged 15 years old in May 2004. The other defendant was acquitted of raping teenage girls at his home but was convicted of indecent assaults. The court dismissed the latter's appeal on the grounds that separate count had been added to the indictment.

Child and adolescent mental health (CAMH) services in the UK have a long history of multiagency working. In this article, we explore the difficulties in agreeing an evidence-base for interagency work, and describe some of the challenges this poses for practitioners and service planners. We use current literature to outline the barriers and facilitators to good multi-agency practice and explore the outcomes of integrated professional work with children and young people, the development of "comprehensive CAMHS" positions, and CAMH work as an exemplar of a multi-agency service.

A British university developed an institutional framework for identifying and rewarding excellence in teaching, using essential criteria (teaching excellence, peer reputation, dean's support, academic leadership) and desirable criteria (research, scholarship, publication, consultancy, external liaison, and administration). Results included a new promotions policy, a research/writing group, and a higher profile for teaching and learning. (SK)

In recent years, numerous articles have addressed management strategies aimed at assisting forests to adapt to climate change. However, these seldom take into account the practical and economic implications of implementing these strategies, notably, supply of forest plants and seed. Using semi-structured interviews with practitioners involved in the plant and seed supply chain in Great Britain, we highlight a series of practical and economic bottlenecks commonly encountered in the supply of locally sourced seed and domestically produced planting stock for native woodland and hedging markets. We find that adoption of alternative seed sourcing strategies, designed specifically to account for directional climate warming, is likely to exacerbate existing problems by adding further complexity to decisions nurseries make about tree species and seed origins to produce. The lack of long-term market predictability brought about by the current configuration of forestry grants and regulations and, in particular, the administrative systems for processing grant applications is identified as a major impediment to having a sustainable and competitive supply of home-grown and currently adapted planting stock. Finally, the time and effort it takes to supply healthy plants for native woodland creation projects deserves much wider recognition throughout the industry and will be crucial if planting objectives are to be met sustainably. [ABSTRACT FROM AUTHOR]

Introduction: Hospital-based optometrists are undertaking extended roles across ophthalmology that may require them to perform advanced skills (AS). Moorfields Eye Hospital (MEH) is the largest UK employer of hospital-based optometrists, it was sought to investigate which AS are being performed at this centre and how they align to the four pillars of advanced clinical practice (ACP)., Methods: An online survey was sent to MEH optometrists in May 2022 that asked about professional status, sub-specialties worked, qualifications, acquisition and validation of AS, research and leadership., Results: Ninety-six optometrists with mean post-qualification experience was 16.2 years (SD 10.4) responded to the survey. There were 84 AS that covered clinical, leadership and research, with respondents achieving a mean of 11.8 (SD 10.3). Those with independent prescribing (IP) qualifications (n = 52) had a higher number of AS compared to non-IP optometrists (p = 0.03). There were 68 clinical AS across the sub-specialties (23 clinical AS were common in ≥2 sub-specialties), 49 out of 120 clinical AS could be performed by at least 60% of staff. Twenty-six optometrists identified with leadership, 56 had undertaken research/audit, 27 had published within a peer-reviewed journal and half of the time spent in active research was funded., Conclusion: AS are being performed by optometrists within a tertiary eye hospital that supports ACP. IP optometrists had higher self-reported AS but current educational frameworks don't accommodate for some AS. Targeted AS courses with competency-based sign-off may further support high-quality patient care. Further research is required on how advanced care practitioners can support workforce transformation., (© 2023. The Author(s), under exclusive licence to The Royal College of Ophthalmologists.)

The early twentieth century saw the British capital market reach a state of maturity before any of its global counterparts. This coincided with more women participating directly in the stock market. This study analyses whether these female shareholders chose to invest independently of men. Using a novel dataset of almost 500,000 shareholders in some of the largest British railways, it shows that women were much more likely to be solo shareholders than men. There is also evidence that they prioritized their independence above other considerations such as where they invested or how diversified they could be. [ABSTRACT FROM AUTHOR]

There have been claims that British capital was not well deployed in Victorian Britain. There was, allegedly, a lack of support for new and dynamic companies in comparison to the situation in Germany and the US. We find no evidence to support these claims. The London Stock Exchange welcomed young, old, domestic, and foreign firms. It provided funds to firms in old, existing industries as well as patenting firms in 'new‐tech' industries at similar costs of capital. If investors did show a preference for older and foreign firms, it was because those firms offered investors better long‐run performance. In addition, we show some evidence that investors who worked in the same industry and lived close to the firm going public were allotted more shares in high‐quality initial public offerings. [ABSTRACT FROM AUTHOR]

The involvement of “people with experience” in research has developed considerably in the last decade. However, involvement as co-analysts at the point of data analysis and synthesis has received very little attention—in particular, there is very little work that involves people living with dementia as co-analysts. In this qualitative secondary data analysis project, we (a) analyzed data through two theoretical lenses: Douglas’s cultural theory of risk and Tronto’s Ethic of Care, and (b) analyzed data in workshops with people living with dementia. The design involved cycles of presenting, interpreting, representing and reinterpreting the data, and findings between multiple stakeholders. We explore ways of involving people with experience as co-analysts and explore the role of reflexivity, multiple voicing, literary styling, and performance in participatory data analysis. [ABSTRACT FROM AUTHOR]

After the Bank Charter Act in 1833, English banks could branch nationally without legal or geographical restriction. It has been previously thought that despite this freedom, early English jointstock banks predominantly began as single units. Drawing upon a new data set, this article maps the growth of branch banking, the size of bank networks and their geographical location and spread. It demonstrates that banks pursued branching strategies energetically against the intentions of regulators and were successful in forming large and complex networks. However, ultimately, before 1880 the majority settled for local, district and multi-regional structures, as opposed to national structures. [ABSTRACT FROM AUTHOR]

Abstract: Existing series suggest wages in London were higher than in other European cities from 1650 to 1800. This article presents new evidence from the construction sites that supplied the underlying wage data, and uncovers the contractual and organizational context in which they were recorded. Institutional records of wages were profoundly affected by structural changes in the seventeenth century, particularly the emergence of large‐scale building contractors. The actual wages paid to London building workers were substantially below current estimates. [ABSTRACT FROM AUTHOR]

This article examines the long-run evolution of local bias by UK investors between the 1870s and the 1930s. It uses a large sample of nearly 30,000 shareholders based on 197 sets of share records, a large and representative database of the investor population across sectors and time. It investigates the structure and the evolution of local investment preference between shareholders and the companies in which they invested, as measured by the distance between where they lived and corporate headquarters. The study offers evidence of strong initial local investment preference, which declined over time for non-Londoners, but remained strong for Londoners until the 1930s. Local investment preference of security holders was related to the size of the board of directors and, for wealthy investors, was related to the age of the firm. For large firms, local networks between investors and directors appear stronger when director shareholdings and voting rights were important. This study supports the analytical hypothesis of local informal trust networks between investors and directors as a means to overcome informational asymmetries and weak legal protection, and provides evidence that local preference was a means to curb insider opportunism and private benefits of control. [ABSTRACT FROM AUTHOR]

Who financed the great expansion of the Victorian equity market, and what attracted them to invest? Using data on 453 firm-years and over 172,000 shareholders, we find that the largest providers of capital were rentiers, men with no formal occupation who relied on investment income. We also see a substantial growth in women investors as time progressed. In terms of clientele effects, we find that rentiers invested in large firms, whilst businessmen were the venture capitalists of young, regional enterprises. Women and the middle classes preferred safe investments, whilst financiers and institutional investors were speculators in foreign companies. Our results may help to explain the growth of new types of assets catering for particular clienteles, and the development of managerial policies on dividends and share issues. [ABSTRACT FROM AUTHOR]

This article documents the stark differences in the legal regulation of corporations in the United States compared to Britain and other Western European countries in the nineteenth century. The lack of alternative ways of obtaining ‘corporate’ advantages in common-law countries made the corporate form much more politically fraught than in civil-law countries. In the United States, general incorporation laws came after the attainment of universal white manhood suffrage and were part of a broader egalitarian movement to ensure that elites did not have advantages over everyone else. As a result, they were highly prescriptive, limiting corporations’ size and duration and also mandating specific governance rules. In Great Britain, by contrast, general incorporation laws were passed in a context where only a small fraction of the population could vote. Because the interests at stake in the legislation were those of the business and financial elite, British company law (like the less politically controversial statutes enacted on the European continent) left the rules governing corporations largely to the contracting parties themselves. This paper also argues that understanding the patterns in general incorporation laws requires scholars to move beyond cross-country regressions to study the political economic processes that unfolded in these different settings. [ABSTRACT FROM PUBLISHER]

The enthusiasm of British portfolio investors for US industry in the late 1880s has been seen as evidence of the liberalism of the London Stock Exchange and the conservatism of the New York Stock Exchange. Based on a study of Anglo- American brewing issues on the London market between 1888 and 1892, in this article it is argued that such an interpretation cannot be sustained. For these issues, securing access to the London market proved more demanding than accounts of its liberalism would lead us to expect: in fact, Anglo- American brewing companies submitted to strictures from London that were more constraining than those of the New York market. Promoters accepted London's constraints to take advantage of the high valuations assigned to Anglo- American brewing securities there, which reflected the city's success in building demand based on financial machinery that did not exist in New York. That machinery included underwriting syndicates, accounting standards, and the London Stock Exchange's listing rules, although, from this perspective, it was the rigour of the exchange's rules that was important. Still, vetting securities for quotation was not the same as for investment, as the disappointing performance of the Anglo- American brewing securities soon revealed. [ABSTRACT FROM AUTHOR]

Corruption by office holders in eighteenth-century British institutions, from state to local level, played an instrumental role in the emergence of modern bureaucracy, and the development of accountable, professionalized systems of administration. Due to the similarities between the institutional culture of eighteenth-century Britain and those within many contemporary developing societies, social scientists have also sought to draw lessons from Britain's historical experience of corruption. Yet little is known about the extent, impact, and causes of corruption by eighteenth-century office holders. This article presents the first detailed research into the topic. It utilises the rich administrative and financial records associated with the institution charged with funding and undertaking the maintenance of London Bridge-the Bridge House-to conduct a systematic qualitative and quantitative study of corruption by office holders. The article identifies an ingrained culture of corruption amongst Bridge House officers, and provides quantitative evidence of the substantial impact corruption had on the organization's finances. However, contrary to existing studies on corruption, this article concludes that, although extensive and significant, corruption did not perform a functional role in the context of this institution. The article also provides a methodology and comparator for future studies into this topic. [ABSTRACT FROM AUTHOR]

Using ownership and control data for 890 firm-years, this article examines the concentration of capital and voting rights in British companies in the second half of the nineteenth century. We find that both capital and voting rights were diffuse by modern-day standards. However, this does not necessarily mean that there was a modern-style separation of ownership from control in Victorian Britain. One major implication of our findings is that diffuse ownership was present in the UK much earlier than previously thought, and given that it occurred in an era with weak shareholder protection law, it somewhat undermines the influential law and finance hypothesis. We also find that diffuse ownership is correlated with large boards, a London head office, non-linear voting rights, and shares traded on multiple markets. [ABSTRACT FROM AUTHOR]

The article analyses the role of private equity (PE) in restructuring the UK corporate economy. It develops a theoretical synthesis to show that the evolution of the PE industry and firms in which it invested were governed by the relations of corporate governance between investor and investee companies. Effective governance relations were a necessary condition for success and complement firm specific resources to create competitive advantage. Four case studies are used to show the contrasting effects of these determining factors, Industrial and Commercial Finance Corporation (ICFC) and Slater Walker, and the two waves of buy-out centred restructuring that developed with the maturity of the PE industry after 1980. In contrast to the evolutionary approach, the periodisations utilised in this study show that structural breaks associated with points of institutional reform are also necessary to make firm specific resource and governance determinants of competitive advantage operable. [ABSTRACT FROM PUBLISHER]

A bibliography on the subject of the economic and social history of Great Britain and Ireland is presented, which includes the books "The English Country House: Explained," by T. Yorke, "The Plantation of Ulster," by J. Bardon, and "English Country House Eccentrics," by D. Evans.

PurposeCicatrising conjunctival disorders are uncommon, and are difficult to diagnose and manage. This study was designed to assess the annual incidence and underlying diagnosis of patients with cicatrising conjunctivitis (CC) within the United Kingdom.MethodsClinical data of newly diagnosed cases of CC were reported via the British Ophthalmological Surveillance Unit at diagnosis and at 12 months follow-up.ResultsA total of 50 (61%) ocular mucous membrane pemphigoid (OcMMP), 16 (20%) Stevens-Johnson syndrome/toxic epidermal necrolysis (SJS-TEN) and 16 (20%) other causes of CC, equating to an incidence of 0.8, 0.2, and 0.2 per million, respectively, were reported. Although diagnosis of SJS-TEN was usually within a median of 7 days of symptom-onset, that for OcMMP and other CC was a median 225 days for both. At diagnosis, 64/163 (39%) eyes had moderate/severe conjunctival inflammation, and 102/164 (62%) had symblepharon formation. Although 43/82 (52%) patients were commenced on immunosuppression or had this therapy modified, at follow-up there was an increase in the number of symblepharon, despite control of inflammation (P<0.001). Mortality only occurred in the SJS-TEN group (4/16 (25%)).ConclusionCC has a substantial morbidity and for non-SJS-TEN causes, diagnosis is frequently delayed. The proportion of patients given immunosuppressive therapy to prevent disease progression may be less than optimal. These data highlight the need for developing patient access to specialist-designated centres with expertise in CC. [ABSTRACT FROM AUTHOR]

We examine the international propagation of the financial crisis of 2008, and compare it with that of the crisis of 1931. Both crises featured a flight to liquidity and safety. We argue that the collateral squeeze in the United States, which became intense after the failure of Lehman Brothers, was an important propagator in 2008; in 1931 the acceptances granted by London banks to central European borrowers propagated the crisis to the UK. In both crises, central banks' reserve management actions contributed to the liquidity crisis. And in both crises, the behaviour of creditors towards debtors, and the valuation of assets by creditors, were very important. However, there was a key difference between the two crises in the range and nature of assets that were regarded as liquid and safe: central banks in 2008, with no gold standard constraint, could liquefy illiquid assets on a much greater scale. [ABSTRACT FROM PUBLISHER]

PurposeOcular mucous membrane pemphigoid (OcMMP) is a sight-threatening autoimmune disease in which referral to specialists units for further management is a common practise. This study aims to describe referral patterns, disease phenotype and management strategies in patients who present with either early or established disease to two large tertiary care hospitals in the United Kingdom.Patients and MethodsIn all, 54 consecutive patients with a documented history of OcMMP were followed for 24 months. Two groups were defined: (i) early-onset disease (EOD:<3years, n=26, 51 eyes) and (ii) established disease (EstD:>5years, n=24, 48 eyes). Data were captured at first clinic visit, and at 12 and 24 months follow-up. Information regarding duration, activity and stage of disease, visual acuity (VA), therapeutic strategies and clinical outcome were analysed.ResultsPatients with EOD were younger and had more severe conjunctival inflammation (76% of inflamed eyes) than the EstD group, who had poorer VA (26.7%=VA<3/60, P<0.01) and more advanced disease. Although 40% of patients were on existing immunosuppression, 48% required initiation or switch to more potent immunotherapy. In all, 28% (14) were referred back to the originating hospitals for continued care. Although inflammation had resolved in 78% (60/77) at 12 months, persistence of inflammation and progression did not differ between the two phenotypes. Importantly, 42% demonstrated disease progression in the absence of clinically detectable inflammation.ConclusionsThese data highlight that irrespective of OcMMP phenotype, initiation or escalation of potent immunosuppression is required at tertiary hospitals. Moreover, the conjunctival scarring progresses even when the eye remains clinically quiescent. Early referral to tertiary centres is recommended to optimise immunosuppression and limit long-term ocular damage. [ABSTRACT FROM AUTHOR]

Unlike their English counterparts, Scottish partnership banks during the Industrial Revolution operated under partnership law which was similar to the French societe en commandite. The article suggests that the definitive feature of this partnership law was that it permitted partnerships to separate ownership from control and stock to be traded. Archival evidence also suggests that Scottish partnership banks had mechanisms to ameliorate potential insider opportunism arising from the separation of ownership from control. The available evidence also suggests that the ability of Scottish banks to separate ownership from control may have contributed to the relative stability of the banking system. [ABSTRACT FROM AUTHOR]

Companies in Victorian Britain operated in a laissez-faire legal environment from the perspective of outside investors, implying that such investors were not protected by the legal system. This article seeks to identify the alternative mechanisms that outside shareholders used to protect themselves by examining the dividend policy and governance of over 800 publicly traded companies at the beginning of the 1880s. We assess the importance of these mechanisms by estimating their impact on Tobin's Q. Our evidence suggests that dividends and well-structured and incentivized boards of directors may have played a role in protecting the interests of outside investors. [ABSTRACT FROM AUTHOR]

Industrialisation brought paradigm changes to the British economy and triggered the growth of family capitalism. Research over the years has viewed family businesses as both a negative and positive contributor to the nineteenth century economy. This article explores documents relating to the Fowkes of Stafford, whose chemist business passed down four generations during the nineteenth century to see what they reveal about this family's priorities and aspirations, how these influenced their business goals and how the evidence found relates to theories put forward to explain the success or failure of family firms during this period. As the survival rate of early nineteenth century businesses is generally agreed to have been poor, a service based business that passed down several generations of the same family is somewhat unusual. It concludes that no individual theory can be used to effectively explain the longevity of the Fowke business, although aspects of individual theories may apply at different times. [ABSTRACT FROM AUTHOR]

This article uses the records of nineteenth-century Scottish banks in an attempt to understand investor behaviour in the early British capital market. It presents four main findings, some of which do not conform to the basic assumptions of standard asset pricing theories. First, in an era when efficient portfolio diversification was not possible, the intrinsic risk of an equity security was an important input into investor decision-making. Second, our evidence suggests that businesspeople initially regarded bank stock as a consumption good, as being a stockholder gave them privileged access to bank finance. When bank lending practices changed in the middle of the century, this access-to-credit advantage associated with owning bank stock largely disappeared. Third, investors typically exhibited a bias towards banks that conducted business in the areas where they resided. Fourth, a sizeable proportion of investors were stockholders in more than one bank. [ABSTRACT FROM AUTHOR]

This article explores the widening ownership of stocks and shares in Great Britain between 1870 and 1935. It demonstrates the extent of that growth and the increasing number of small investors. Women became more important in terms of the number of shareholders and value of holdings. Factors that encouraged this trend included the issue of less risky types of investments, and legal changes relating to married women's property. We examine the 'deepening' importance of stocks and shares for wealth holders, arguing that the growing significance of these kinds of financial assets was as important as the growth in the investor population. [ABSTRACT FROM AUTHOR]

The contribution of women to the economy as investors has an increasing profile, but sources of information on women's economic activity in the nineteenth century are limited. However, shipping registers provide new avenues for exploring this largely hidden perspective. Women investors in shipping are revealed here to be more consistently active across the century with a close involvement with their investment. They were a significant factor in enabling smaller port communities to remain self-sufficient in their industry funding until the dominance of steam in the 1880s caused the sailing vessel to become increasingly obsolete. [ABSTRACT FROM AUTHOR]

The joint-stock banks that established after the liberalizing legislation of 1826 were periodically criticized during the nineteenth century for their low-quality and rapidly deteriorating shareholder constituencies. The quality of a bank's shareholding constituency was of paramount importance because of unlimited shareholder liability. Using archival records, this article examines the quality of bank shareholder constituencies over the nineteenth century. The main finding is that shareholder constituencies did not deteriorate in quality until the introduction of limited liability. The non-deterioration of constituencies is attributed to bank deeds which locked in the aggregate quality of shareholder constituencies by empowering directors to vet all share transfers. [ABSTRACT FROM AUTHOR]

Using statistics, documentary evidence and commentary from academics and academic trades unions, this article analyses the key features of U.K. government policy towards higher education in England since 1979. The focus is on England because the details of policy and policy implementation vary between the four nations of the U.K. My findings support the view that, over the whole period, successive governments established increasing central control over the higher education system and mobilised it to meet goals compatible with government interpretations of the national interest. In the process, the total number of students in U.K. higher education has trebled, the average cost of a student place has almost halved and the proportion of income from public funds has fallen to 55% (Universities UK 2007). [ABSTRACT FROM AUTHOR]

This article discusses the origins of the speculative configuration that has come to characterize English banking. It criticizes Gerschenkron's view that early nineteenth-century English banking developed relatively autonomously from manufacturing. Pointing out that he misunderstood the specific nature of English finance and the reasons that explained the later shift towards speculation, it shows how Gerschenkron and his followers have consistently underestimated the role of the state in shaping the nature of English finance. The main argument of the article is that state intervention was a decisive factor in shaping the nature of English finance. It proved crucial in initiating the divergence between English and continental finance, and contributed to the rise of modern banking in England. Finally, I argue that the speculative configuration of finance often associated with England was a late development of the nineteenth century that again reflected changes in the form of financial and monetary regulation. [ABSTRACT FROM AUTHOR]

(The place of publication is London and the date 2006 unless otherwise stated.) [ABSTRACT FROM AUTHOR]

Many commentators have contended that British banking lacked competition for much of the twentieth century. This article examines a range of evidence relating to English clearing banks in the middle decades of the century, when the banking ‘cartel’ was believed to be at its strongest. Data on interest rates charged and paid, rate spreads, profitability and expenses ratios, including new evidence from archival sources, are considered. Some propositions about cartels are supported, others contradicted, and some left unresolved. We conclude that the banking ‘cartel’ can be described as ‘soft’, rather than ‘hard’ – that is, one which agreed strict output quotas and profits shares among its members. Beaucoup de commentateurs ont soutenu que les opérations bancaires britanniques manquaient de concurrence durant la majeure partie du vingtième siècle. Nous examinons une gamme de preuves concernant les banques anglaises de compensation dans les décades du milieu du siècle, lorsque le ‘cartel’ bancaire était sensé être à son plus fort. Nous considérons des données sur les taux d''intérêt pris et payés, sur la progression des impôts, sur les proportions entre rentabilité et dépenses, y compris de nouvelles preuves provenant de sources d''archives. Quelques propositions sur les cartels sont supportées, d''autres contredites, et certaines non résolues. Nous concluons que le ‘cartel’ bancaire peut être décrit comme un cartel ‘doux’, plutôt qu''un cartel ‘dur’ – c''est à dire un cartel dont les membres se sont mis d''accord sur des quotas stricts de rendement et de partage des profits. Viele Kommentatoren behaupten, daß es der britischen Bankwirtschaft während des 20. Jahrhunderts an Konkurrenz mangelte. Wir untersuchen eine Fülle von Beweisen in Verbindung mit englischen Ausgleichsbanken, die während der Mitte des 20. Jahrhunderts bestanden, als das Bankenkartell angeblich am stärksten ausgeprägt war. In Betracht gezogen wurden Daten über Zinssätze, den Zinsumfang, die Rentabilität und das Ausgabenverhältnis, sowie neues Beweismaterial aus Archiven. Einige Feststellungen über Kartelle werden bestätigt, anderen werden widersprochen und einige bleiben ungelöst. Wir schlußfolgern, daß das Bankenkartell eher ‘weich’ als ‘hart’ war, das heißt, es war ein Kartell, welches strikte Ausgabenquoten und Gewinnanteile mit seinen Mitgliedern teilte. Muchos comentaristas han mantenido que la banca británica estuvo falta de competición durante la mayor parte del siglo veinte. Examinaremos una variedad de pruebas relacionadas con bancos de compensación ingleses en las décadas de mediados de siglo, cuando se creía que el ‘cartel’ bancario era más fuerte. Se consideran dato sobre los porcentajes de interés pagados y cobrados, la proliferación de los porcentajes, las proporciones de rentabilidad y de gastos, incluyendo nuevas pruebas de fuentes de archivo. Algunas proposiciones sobre carteles reciben apoyo, otras se contradicen, y algunas no se resuelven. Concluimos que el ‘cartel’ bancario puede describirse como ‘suave’, más que ‘duro’ – con ello queremos decir, uno que acordó cuotas de rendimiento estrictas y acciones de beneficios entre sus miembros. [ABSTRACT FROM AUTHOR]

Friendly societies date from the seventeenth century and have been the subject of statutory recognition and regulation since 1793. These societies developed rapidly in the nineteenth century as a mechanism of self-help for the emerging industrial working class. This article embraces an historical examination of the social, economic and political contexts within which a discourse on the issue of their regulation took place and reveals the ideologies underpinning the disciplinary framework that was constructed. Ideas of the philosophical radicals were influential in making friendly societies the subject of closer regulation. This development came at a time when laissez-faire as a guide to government action gave ground to the acceptance of the need for state control in the endeavour to enhance the common good. The concepts of paternalism and financial safety are found to have influenced the decision to regulate friendly societies, and the disciplinary framework constructed is located within the range of provisions applying to organizational entities operating in nineteenth-century Britain. [ABSTRACT FROM AUTHOR]

Examines the effects of private contracts for naval warships in Great Britain from 1889 to 1914 on the profitability of the businesses concerned. Discussion on the increased use of the private sector in shipbuilding; Companies which provided shipbuilding services; Evidence of returns on capital employed in private shipyards; Analysis of resulting profits available to equity.

The Eurodollar market, which was established in the City of London in the 1950s, can be considered the progenitor of the global financial system which exists today, for it marked the beginning of a movement away from the restrictions placed by the Bretton Woods system on international capital movements, and a return to the liberal internationalism and laissez-faire order of the private and central bankers that ended with the collapse of the gold standard in 1931. Explanations as to why this development should have taken place in London rely, for the most part, on two contending theses: (1) that it was the direct consequence of the market mechanism inevitably overcoming official obstruction, or 'friction'; (2) that deliberate state action created the conditions which allowed the market to evolve and operate. Adherents of the former claim that the Eurodollar was the innovation of the City's merchant and overseas bankers, looking to finance the rapid increase in international trade that took place at the end of the 1950s, in a world still constrained by the restrictions imposed as a consequence of placing the international economy on a war footing in 1939. Adherents of the latter claim that it was a direct consequence of deliberate action taken by the British state to re-establish the City of London as the world's foremost international financial centre. This article, which is based on archival evidence and interviews with state and private sector figures involved in the development of the Euromarkets, argues that the City's position at the centre of the Eurocurrency system was a direct consequence of it having evolved within an institutional framework established over 100 years earlier. This seeks to challenge simple state/market dichotomies and suggests that the origins of the Euromarkets can be better understood with reference to the 'governance of regulatory space'- whether by states, markets or various associational forms. Only by examining the historical occupation of 'regulatory space' can we have a more realistic view of how financial innovation evolves. [ABSTRACT FROM AUTHOR]

Questions whether the domestic industry was protected by the geographical and functional segmentation of the Victorian capital market, from the redirection of scare capital resources towards overseas investment, with emphasis made to the non-ferrous mining industry. When large-scale finance of the British non-ferrous metal-mining industries began; Argument that the ownership of productive and profitable domestic mining companies was retained by knowledgeable local insiders.

Examines the comparison drawn between the financial provisions made by English and continental European banks for industrial companies, during the half-century before 1939. Examination of evidence on the history of banks and bank lending; Main elements of the historical and theoretical comparisons made between English and continental European banks; Analysis of research on historical developments in countries that developed universal banking.

This article focuses on commercial banking in a market-oriented financial system in Great Britain between the wars. The inter-war years, particularly, have been identified as a period of missed opportunities and hesitant structural change in an economy still dominated by export industries whose main markets were fast disappearing. In Britain the banks represented one source of external finance for industrial companies. They operated within a sophisticated system of financial intermediation which had evolved in such a way that the transfer of ownership or the provision of large amounts of investment capital was not a function of banks, but of the specialist markets and institutions which existed for precisely those purposes. The banks' role within the British market-oriented financial system developed as one of providing credit rather than investment capital. Not only did this generate different asset and liability structures from those of the universal banks, but the banks' observance of the consequent responsibilities towards both their depositors and their borrowers meant that they provided considerable levels of support to indebted customers.

Examines the relationships between brewing companies and banks in Great Britain from 1880 to 1913. Comparison of British banking with German banking; Revisions in banking policy as a result of changes in the structure of British banking; Contribution of banks to industrial finance.

The article focuses on the demand for goods exported from Great Britain during the period from 1870 to 1913. It outlines the relevant facts and hypotheses emerging from the literature on the determination of British exports before proceeding to specify and estimate an export demand function. It is well established that international trade has played a key role in determining the character and development of the British economy. In the half century before 1914 this factor is often given special emphasis and Britain is frequently described as an "export economy." It is sometimes argued that the growth of industrial production depended uniquely on the performance of major export industries, and since some 30 per cent of industrial output was exported there is inevitably a close link between the two. Perhaps more firmly established than the relationship between exports and growth is that between fluctuations in exports and cyclical variations in economic activity. This dominance in world trade indicates that variations in demand almost anywhere in the world would have affected demand for British exports. Britain was uniquely dependent on the pattern and rate of industrialization in different regions of the world as well as on the development of natural resources and the expansion of agriculture in the non-industrial regions.

The article comments on economist P. Temin's model of the phenomenon of capital outflow from Great Britain during the period 1870 to 1914. Temin opts for the view that the capital exports were a rational economic response on the part of Victorian investors to differences in rates of return and risks between domestic equities and foreign bonds, and he attempts to fortify his stand with a macroeconomic model of the capital market. He also appears to subscribe to the view that a diversion of some of the capital from exports to the domestic market would have been beneficial to the British economy. His policy prescription of a tax on the returns from foreign bonds suggests as much. According to the author, Temin's diagnosis of the problem is at variance with his policy prescription. The model Temin presents to explain capital outflows is elegant and succinct, but unfortunately the complex nature of the international economy of the nineteenth century renders it sterile. It is not clear that restraints on such capital flows would necessarily have been to the advantage of the domestic economy.

Considers the impact of the international and global higher education movement on groups in Great Britain which have been excluded from higher education. Five significant trends of the movement; Different conceptions of equal opportunities; Strengths and weaknesses in equal opportunities policy-making; Equality issues for students and for staff; Equality and management issues.

The article focuses on town planning in Great Britain. It discusses the role of town planning in advanced capitalist societies. It examines various issues related to the nature and purpose of state intervention in terms of planning in the British economy. It investigates relationship between state intervention and class demands and interests with reference to the British Housing and Town Planning Act of 1909. The act enabled local authorities to prepare town planning schemes for the development of new housing areas and intervened in the land market through the compensation and betterment proposals. No extra powers were given to the local authorities to develop land themselves. The local authorities had to receive the consent of the Local Government Board for the preparation of schemes and the Board was responsible for approving them. The town-planning legislation must be seen in context of the Finance Bill of 1909. The bill proposed the survey and valuation of all land and introduced four types of duties on land. These legislative bills reflect the interests and values of those with power and influence and their attempts to deal with the class demands which confront them.