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This edition-the eleventh-ofDr S. Evelyn Thomas' text has been prepared with the objective of the earlier editions in mind-namely, the production of a work which "seeks to deal within the confines of one volume with the theory and practice of commerce and to do so in sufficient detail and at such a high standard that reference to other sources of information is made unnecessary". The tenth edition has been revised in its entirety: some of its chapters have been omitted from this new edition; some have been reduced in size; others have been rewritten so as to include fresh material. Several new chapters, reflecting aspects of today's commercial scene have been included, e.g., the use of the computer in commerce, employment legislation and the functions, channels and structure of distribution. New statistical material has also been included.
Although the book's title refers to the theory and practice of commerce, the accent is on practice. Where theoretical matters are touched upon they are considered within the context of commercial practice. Some useful advice tendered in the early nineteenth century by a writer in a very different sphere of activity has been kept in mind: "In the same way as many plants only bear fruit when they do not shoot too high, so in the practical parts the heoretical leaves and flowers must not be made to sprout too far, but kept near to experience, which is their proper soil."
The book is intended to serve the needs of candidates for the higher examinations in commerce and finance of the London Chamber of Commerce and the Royal Society of Arts and of students working for examinations involving commerce and business administration set by accountancy, secretarial, banking and insurance bodies. Additionally, students preparing for the business and commercial affairs modules of the Business Education Council schemes should find the text of assistance.
Thanks are due to the following for kind permission to reproduce material: Her Majesty's Stationery Office, the Co-operative 'Union, Barclays Bank, the National Westminster Bank and the Bank of England.