The late nineteenth century is often described as an era of innovation in managerial practice, including accounting. However, despite rich case studies of individual firms, we have little quantitative knowledge of average practices. This paper uses errors and omissions in balance statements to estimate the prevalence of double-entry bookkeeping and depreciation at Massachusetts corporations between 1875–1895. In 1875, 62 percent of firms balanced their returns, but by 1895 this number exceeded 96 percent. The proportion considering depreciation increased from 18 to 24 percent over the period. Firms using these techniques survived longer on average.

In 1636 the Kingdom of Castile implemented a royal monopoly that made the manufacture, sale, and distribution of tobacco the exclusive, though alienable, prerogative of the Crown. This new device—politically palatable because it was not levied on a “necessity of life,” and fiscally attractive because tobacco seemed to enjoy inelastic and ever-expanding demand—soon extended to the other kingdoms in Spain and throughout Europe. So it is not surprising that most of the nine essays in this collection concern how the renta de tabaco, as the royal monopoly was known by the eighteenth century, affected the behavior of consumers, suppliers, investors, and royal officials in Spain and beyond.

Since 1951 the population, social structure, and economy of Norristown, Pennsylvania, have been the focus of study of an interdisciplinary research seminar at the University of Pennsylvania. Under the over-all theme of technological change and social adjustment, a variety of investigations have been conducted to discover the ways in which the processes of industrialization and urbanization in the twentieth century have operated dynamically to bring about changes in the social and economic structure of the Norristown community.

When in 1872 the English Reverend Alexander King, Secretary of the Freedmen's Mission Aid Society, returned to Blackheath (London) from his travels in the American West, he wrote a letter to the editor of the London Observer. Said he: “I believe our great national problem … must be solved by … the British occupation of America. Emigration, on a grand scale, to the trans-Mississippi regions will prove the destiny of the Anglo-Saxon people, and our cheapest and most effectual remedy for some of our most formidable national evils.”

This article deals with the interrelations between the economyand the government of the expanding Spanish empire in the era of overseas expansion during the fifteenth and sixteenth centuries. Specifically, it attempts to show how the government reacted to the phenomenon of the growing empire. In a full treatment it would be necessary to show how the various Spanish territories of the Peninsula were unified by the process of the “reconquista” and by the marriage policy of the Catholic Icings; how during the sixteenth century Navarre and Portugal were joined; how the overseas expansion of Spanish power, beginning in the late Middle Ages, continued during the sixteenth century; and how Spain, as a consequence of Hapsburg marriage policy, built an important bridge of possessions from the Netherlands to Italy. Obviously, these questions cannot be dealt with in detail in one article, but they form the background for the following discussion.