Crossing the atlantic

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  • The following pages have been written at the request of many old friends, some of them co-workers in the cause of permanent British rule over the larger part of the Great Northern Continent of America. In 1851 I visited Canada and the United States as a mere tourist, in search of health. In 1861 I went there on an anxious mission of business; and for some years afterwards I frequently crossed the Atlantic, not only during the great Civil War between the North and South, but, also, subsequent to its close. In 1875 I had to undertake another mission of responsibility to the United States....

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  • Of all that has been written, or is to be written, by Americans concerning the tragedy overwhelming the Old World, much must naturally be descriptive of conditions in France, since that country is, among those affected by military occupation, most accessible and most closely in sympathy with American ideals and American history.

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  • The laws of continental Europe and those of the USA are substantially distinct. The general difference between common law, as practiced in the US, and civil law, as practiced in continental Europe, is widely accepted, even if it is not always fully understood. American court rulings, for instance, can be extreme in the eyes of Europeans, who are not familiar with concepts such as punitive damages.

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  • When the American colonies declared their independence in 1776, it took 48 days for the news to cross the Atlantic. The arrival of the telegraph in 1843 and the telephone in 1876 meant that news could get to anywhere in the world almost instantly. The beginning of radio communication in 1896 meant tha sounds could travel vast distances without the need for cables. When television arrived in 1936, moving pictures and sounds had the capability to be seen by millions at the same time anywhere in the world....

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  • The Britannia, 125 feet long. Number of persons on board: 27 engaged on the vessel, including the Captain, two mates, two cooks, two stewards and a carpenter, with nine passengers, making, with 152 steerage passengers, a total of 188. The Captain, Wm. Sketchley, an experienced seaman having crossed the Atlantic 132 times—very attentive to the wants of the steerage. List of passengers: Mr. Bassnett from Preston, has been a good deal in Canada, also in the West Indies and Holy Land. Mr. Hamilton, a clergyman of the Irish Epis., decrepit easy Christian. Mr.

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  • We compare the predicted values with actual correlations for the sample firms and investigate the cross-sectional relation between them to assess the extent to which the simple model described in the previous section fits the data. First, we report the average values of the predicted serial-and cross-correlations among earnings changes, operating cash flow changes and accrual changes.

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  • The dependent variable leverage is one minus the ratio of equity over assets in market values. It therefore includes both debt and non-debt liabilities such as deposits. The argument for using leverage rather than debt as the dependent variable is that leverage, unlike debt, is well defined (see Welch, 2007). Leverage is a structure that increases the sensitivity of equity to the underlying performance of the (financial) firm.

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