An interesting and instructive article on “The Co-relation of Economics and Accounting,” by Mr Victor V. Branford, M.A., which appeared in ‘The Accountant’ on 25th May 1901, contains the following passages bearing on the origin of capital and revenue accounts. In similarly generalised scientific phraseology, the readers might say that the compilation of revenue accounts is an essentially historical process; and moreover, since revenue accounts deal with successive records of economic values, these documents ought to be claimed as his special property by the student of historical economics. The principle of accounting is accepted by the law in Great Britain in the case of Joint Stock Companies, because their intentions, or rather the objects for which these companies are formed, are solemnly declared and known to all persons interested before they begin to do business, and also because legal safeguards are provided against any sudden or improper change of intention.