Radio Corporation of America (RCA) estimated that 5 million homes already had radios while 21 million remained to be equipped. If programming of importance and highest quality were made available, all would want to buy. Therefore RCA, as the world's largest distributor of radios, had a stake in providing such programming. For this reason this "instrument of great public service" was being created. It would broadcast, throughout the United States, every event of national importance. Fine programs would be made available to stations coast to coast—not only those of RCA and its associates. An Advisory Council of distinguished citizens would watch over the service. The network's position was fortified a month later by passage of the Radio Act of 1927. This law has often been cited as establishing the commercial broadcasting system, but it scarcely did so. The new law seemed to signal an era of stability and prosperity. Major corporations flocked to the new network.