The research report Paper Example | Topics and Well Written Essays - 3500 words

The report - Research Paper Example By June 20th, the secondary research and presentation of the research proposal was completed, and the project was headed for the next steps that included conducting interviews on the respondents chosen for the purposes of this study before documenting and analyzing the data obtained. Following your approval to conduct the research amongst residents of Beverly, the National Association of RELATORS was instrumental in providing the primary data for homebuyers who used various purchase methods to buy their homes. You also approved the proposal to conduct interviews on residents of Beverly, who had recently used one of the investigated purchase options to acquire property and those who had the intention to purchase a home in due time and were having one of the options in mind. The purchase options that were investigated for the purposes of this study include mortgage financing, lease purchase, FHA loans, VA loans and purchase in cash. After the data analysis, the project required a PowerPoint presentation of the report progress which was completed by the 26th of June this year. It is worth mentioning that the primary data was gotten from the certified website of the National Association of RELATORS. This was because the company had been assisting homebuyers in making decisive decisions on what purchase options best suits their circumstances. In the process, the company documented the number of buyers who used various purchase options. As a result, the project was able to obtain dependable data that played a significant role in the completion of this research project. In addition to that, I should not go without mentioning the fact that the respondents chosen for the purposes of this study were corporative and for this reason the project was able to obtain the intended results. My research revealed that it was imperative for potential

Lucas v Dole Essay Example for Free

Lucas v Dole Essay In the Fall of 1987, plaintiff Julia Lucas appeals the dismissal of her job discrimination suit. Lucas, a white woman, argues that she was the victim of reverse discrimination when Rosa Wright, a less qualified black woman, was promoted to the Quality Assurance and Training Specialist position at her job. The judge dismissed the claim, finding that Lucas did not make out a prima facie case (Open Jurist, 2011). Statement of the Problem Both Julia Lucas, a white woman, and Rosa Wright, a black woman, work for the Federal Aviation Administration (FAA). They both applied for Quality Assurance and  Training Specialist (QATS) positions at the Flight Service Station in Leesburg, Virginia. Both women, along with nineteen other applicants, were qualified for the two positions that were available. Edward Dietz, the official who interviewed the top four applicants, selected Rosa Wright and another woman named Sharon Hall as the best candidates to fill the positions. Edward Dietz did not consider Julia Lucas. Lucas believed she was reverse discriminated and took the case to court (Open Jurist, 2011). Findings of Fact It was verified that although FAA determined that all nineteen applicants were ualified, Wright did not have a current Pilot Weather Briefing Certificate at the time of her selection, a QATS job requirement. Lucas presented other evidence in order to show discrimination. She testified to the subjective nature of the interviewing process, which consisted of five general questions concerning the QATS position. She presented Lucas v. Dole 3 evidence that her answers were detailed and job specific, while Wrights were broad and could apply to many jobs. Evidence also showed that in July 1985, Wright was given a temporary position involving education and training of students learning about the air raffic control system. The temporary position was not advertised to other workers in the customary way, and Wright was selected before some workers knew of the opening. Five other employees also testified that race may have been a factor in the selection of Wright and in other situations at the Leesburg facility. Favoritism there had helped create poor labor-management relations, although it is not clear whether the favoritism was racially motivated. The last piece of evidentiary support Lucas had was the comparison of her own professional experience and qualifications with those of Wright (Open Jurist, 2011). Impact in the Workplace Reverse discrimination is a controversial form of discrimination against members of a dominant or majority group, including the city or state, or in favor of members of a minority or historically disadvantaged group† (Wikipedia, 2011). Whether discrimination is reversed or not, Conclusions The judge dismissed the case, finding that Julia Lucas did not make out a prima facie case. In other words, it was not â€Å"based on the first impression; nor was it accepted as correct until proven otherwise† (Wikipedia, 2011). A prima facie case of unequal treatment by direct or indirect evidence of discrimination is under the McDonnell Douglas framework. To establish a prima facie case under the McDonnell Douglas framework, a plaintiff must show (1) she is a member of a protected group; (2) she applied and was qualified for a job that was open; (3) she was rejected, and (4) the job remained vacant. Lucas satisfies the basic requirements of McDonnell Douglas, except that the job did not remain open. In her testimony, Lucas admitted that she scored in the bottom third among the interviewees, and that those above her included blacks, whites and Hispanics. In conclusion, there was no evidence that racial discrimination was involved in Rosa Wright’s promotion. (Open Jurist, 2011).

Deep Sea Fishing :: Personal Narrative Essays

Deep Sea Fishing Wow! I love going deep sea fishing on our boat. I was excited when my dad had asked me if I wanted to go this weekend. We departed that Saturday morning after almost a week of sheer anticipation, our destination, Port Canaveral, home of of some of the best fishing on the east coast of Florida. The sea is a very dangerous place when riled by a storm, even a mild one, so we always made sure the day would be at least close to perfect before we ventured out into the blue darkness of the open sea. My dad and I had seen the destruction careless boaters could get themselves into, and we did our best to avoid it. That Saturday, though, looked as if it were a perfect offshore fishing day. The sky was clear as glass, with a couple straggling cirrus clouds, but nothing worth paying attention to, and above that, the fish were supposedly hitting offshore. All-in-all, the long awaited perfect fishing day had come, at least in our minds it had. In the meantime, my dad backed the boat into the salty murky water as I got the boat ready for our day long journey. I set the navigation system to a favorite fishing spot of ours which was about twenty-five miles out called the Pelican Flats. We headed out on the gently, quiet, rolling blue monster's back as our twenty-two foot vessel handled the one to two foot ocean swells with sheer ease. Finally, after an hour long haul, and fifteen fishing minutes later, we ran into our first sign of action. "Fish on starboard!!" screamed my younger brother. "Fish on stern, grab 'em!", bellowed by dad from the steering wheel. Instinctly, my brother and I had quickly grabbed the poles as the line screamed off and the tips bent almost to the water. Soon enough, both of us had fish on, very large fish from the feel. About half an hour of sweat and a good workout, we finally got the fish to give up their fight for life. That was the first time we had ever encountered a double hook-up, which happens when two fish of a considerable size are hooked simultaneously, and it happened in less than fifteen minutes. We ended up fishing for about four more hours and landed an incredible number of large fish, and we wanted more. The three of us scanned the surface for more action, and found nothing of interest but what looked like a storm cloud moving towards us at an unknown velocity about

Governments advance Essay

As man advances in his everyday life, the governments advance in warfare technology too1. New sophisticated weaponry changed warfare tactics and warfare became a vastly advanced art. The crude techniques were quickly replaced with refined ones. The increase in damage and death commensurate with the increase in technology leading to very high death counts, and leaving a myriad maimed for life. The technological inventions were self- defeating to man. Man staged war with himself. The very inventions he made became a thorn in his own flesh! WW1 saw the advent of tanks and gas as some of the new technologies. For instance the British mark 1 tank was first used in September 19162. The tanks had their limitations such as getting stuck in the mud and toppling over. They were mechanically unreliable. The tanks were not the war winning weapons as the generals hoped they would be3. The German on the other hand were the first to use chlorine gas at Ypress in 1915. The chlorine gas is a lung irritant. Symptom such as bright red lips and blue face denote gas poisoning. Chlorine gas poisoning killed its victims a slow death of suffocation. It caused long diseases such as emphysema. The civilians suffered from this too. In 1915 the Germans added phosgene, which was more suffocating. The effects of phosgene caused bleeding that corrupted the lungs. Mustard gas, which was also used, burnt the entire layer of skin from the face and body. This was dangerous as its effects were not noticed, burnt the skin and ripped out the lining of the lungs. Gas had a rippling effect like atomic bomb had in world war2. Their uniqueness was in the fact that they were air-borne, had the risk of causing mass destruction and there effects agonizing. We can have an overview of what the weapons looked like and the technologies they espoused. â€Å"New weapons revolutionized combat in war1†4. It gave the war an altogether new model. For instance, trench warfare. The factories of industrial Europe were held culprit for this new war technologies that were destructive and ruinous. We can divide the first war and weaponry in to a number of categories: Artillery: These were new and improved cannons. British soldiers fired approximately 170 millions but the German scientist did not accept to be left behind. They developed the biggest artillery ever known. It was called the Big Bertha. It was such a powerful weapon. New high-explosive shells were developed as well and made more efficient. Artillery fire killed thousands of men and made aiding more difficult as it blew the ground. 5 Communication: as we have indicated WW1 was a trench warfare radios and telephones were the main ways of communication and was very essential ways of communication and was very essential for the troops in trenches. Messengers gave dogs and other like pigeons were gradually being faced out. Machine guns: the effectiveness of machine guns reached frightening new levels in the WW1 they could fire 600 bullets a minute which was estimated t be equivalent of 250 men with rifles. With this kind of ability machine guns were deemed to be weapons of mass destructions. Gas grenades: we have looked at chlorine, phosgene and mustard gas. Which burned the lung of the inhaler leaving them to die in agony. Has masks that were issued to everyone in German were of so effective therefore leaving many people dead6 Tanks: also known as the chariots of god. As we have seen at first they were not very reliable but scientist kept making new improved tanks such that by 1918, the Anglo-American mark 8th could carry up to 8 men and fire 208 shells and up to 13,000 bullets. Another weapon of mass destruction! An armored car was developed and could travel up to 8 kilometers and had 8 machine guns. Transportation: transportation of troops in to battlefields became vital necessitating the increase in more efficient transportation needs. Trains, taxis and lorries were used to ferry soldiers to battlefields and other places. Planes: they epitomized the new types of weapons used in advanced technology warfare huge blimp-like bombers called zeppelins were used7. Their speed and efficiency killed thousand of people

Historical Background and Status

Historical background and status of textile engineering industry By: S. Chakrabarty Preamble Industrial Revolution in U. K. during 1750 – 1850 gave birth to Textile Machinery. The dominance of India in the field of cotton textiles produced by very skilled manpower was disturbing the British. Systematic development of textile industry with spinning and powerloom machinery was initiated in Lancashire and Manchester to discourage the Indian weavers. Rest is however known to everybody how the machinery industry was developed and nurtured by the respective Governments in the UK and later by Germany and Switzerland followed by others in Europe.In India, machinery manufacture started in the 50s, continued and progressed during 60s & 70s and thereafter. The Government policy to ban expansion of the organized weaving sector during late 60s created/ supported the decentralized powerloom sector. Too much of importance to handlooms and low level technology power looms in the subsequent ye ars, keeping a large list of reserved items for handlooms, throttled the mill industry which lost its initiative for creativity as well as production for the masses. Low level of production in handlooms and low quality production in powerlooms made us uncompetitive in the subsequent years.The Government’s regulative pressures on the Mill Industry continued to play havoc for the weaving industry till the introduction of 1985 Textile Policy and finally revolutionary Industrial Policy in 1991. Development and technology growth in the TEI The Textile Engineering Industry (TEI) during the late 60s, 70s and 80s had received some Government support in the form of foreign collaboration approvals, import assistance by way of phased manufacturing programme and concessional customs duty certification for imported parts and components for manufacture of specified textile machinery.Import duty on components and parts in general was very high at 85% excluding CVD and not conducive for indi genous development. The concessional duty on imported parts, components etc. mentioned above did help the Industry. The then Government’s policy was also supportive that no import of machinery was allowed if there was adequate indigenous production. The local textile industry therefore had no choice but to buy the Indian machinery. This policy helped the TEI to develop and manufacture spinning machinery in the country of the desired quality and quantity. There was no competition from outsider.Internal competition among various players made the development easier and faster. Foreign manufacturers had no choice but to enter into collaborations with local manufacturers. This happened not only in spinning but also in processing machinery. The following collaborations are worth mentioning: Sr. No. 1 2 3 4 5 6 7 8 Names of Foreign Collaborators M/s. Textile Machinery Makers Ltd. U. K. , Platt Bros. , U. K. M/s. Whitin Machine Works, U. S. A. M/s. Howa, Japan M/s. Zinser, Germany M/ s. Marzoli, Italy M/s. Hispani Suiza (Suisse) S. A. , Switzerland M/s. Rieter, Switzerland M/s. Schubert & Salzer, Germany Names of IndianManufacturers M/s. National Machinery Mfrs. Ltd. , Bombay* M/s. M M C. , Calcutta M/s. Texmaco, Calcutta* M/s. Texmaco, Calcutta* M/s. M M C, Bangalore* M/s. Indequip Engineering Ltd. , Ahmedabad M/s. LMW, Coimbatore M/s. New Standard Engg. Items Produced Spinning – Cards, Draw Frame, Speed Frame, Ring Frame Spinning – Carding Engines and RH Can Fed Inter Frames Spinning – Flat Revolving Carding Engines, Draw Frame, Speed Frames Spinning – Narrow Gauge Ring Frame Spinning – Entire Range Spinning – Ring Frame Spinning – Entire range Spinning – Blow Room, Cards, 9. M/s. Zinser, Germany M/s. Trutzschler, Germany M/s. Toyota, Japan 10 11 2 M/s. Suessen, Germany * Presently not in operation Co. Ltd. , Mumbai* M/s. Padmatex Engg. , Baroda* M/s. Trumac, Ahmedabad M/s. Kirloskar Toyoda Textile Machin ery Pvt. Ltd. , Bangalore M/s. Suessen Asia, Pune Draw Frames Spinning – H. S. Draw Frame Spinning – Blow Room, Cards, Draw Frames Spinning – Ring Frame Spinning – Ring Frame Due to acute and long recession in the Textile Industry, initial higher import content coupled with high rate of import duty, non-transfer of latest technology under collaboration agreements leading to import of machinery etc. , the following Indian Companies were closed down during 80s and early 90s.These are M/s. MMC, Kolkata and Bangalore; M/s. Texmaco, Kolkata; M/s. Indequip Engineering, Ahmedabad; M/s. New Standard Engg. Co. Ltd. , Mumbai; M/s. Mafatlal Engg. Co. Ltd. Mumbai; M/s. Textool Co. Ltd. , Coimbatore; M/s. Jeetstex Engg. Ltd. Coimbatore etc. while M/s. LMW, M/s. Trumac, M/s. Zinser India, M/s. Suessen Asia, M/s. Kirloskar Toyoda could manage to stay in production. Why we are better in spinning machinery? There was Government support by way of†¢ †¢ †¢ Res tricted import of spinning machinery – virtually no import of spinning machinery of the same technology available indigenously was allowed.No import of second hand spinning machinery was allowed. Import duty concession on raw materials, parts, components & accessories for production of specified machinery as the import duty in general, was very high. Besides, competition among the machinery manufacturers resulted in production of better quality machines. Reasons for non-development in the Weaving Machinery Sector While the Textile Engineering Industry took up manufacturing of Spinning machinery in full swing with the adequate Government's supportive measures mentioned above, the same did not happen in case of weaving machinery.During 60s (prior to 1970) the Industrial Policy prohibited the organized mill sector to expand their weaving capacity. This was perhaps to support employment generation in the villages by the decentralized and dispersed handloom sector. It was due to t his wrong policy, the unauthorized powerloom clusters started gaining grounds. Even many of the handloom clusters started converting into powerlooms. Since the domestic demand for fabrics was growing fast due to the population growth, the powerloom sector in different parts of the country started growing fast while the handloom sector started shrinking in reality. The fact is still not accepted by the Government). Today, there are over 20 lakh powerlooms but handlooms, may not be more than 8 lakh, if not less! During 70s the organized mill sector was allowed to replace ordinary powerlooms by automatic looms and shuttleless looms on 4:1 basis. However, compulsory manufacture of controlled cloth by the mills sector dampened the spirit of the mills sector. Controlled cloth scheme was done away with during 80s. Expectation of a good demand due to replacement policy prompted the manufacture of automatic looms by M/s.Cimmco, Gwalior in collaboration with M/s. Sakamoto, Japan and M/s. Mafa tlal Engineering Co. in collaboration with M/s. Ruti, Switzerland during 70s. In the late 70s M/s. Lakshmi Automatic Loom Works Ltd. (LALW) started manufacturing Ruti `C’ Type of automatic loom in collaboration with M/s. Ruti, Switzerland. M/s. Cimmco as well as M/s. Mafatlal Engineering Co. tried to manufacture shuttleless looms in collaboration with M/s. Dornier, Germany, Toyoda, Japan and M/s. SACM, France respectively during early 80s. M/s. LALW also started making shuttleless rapier and airjet looms during 80s.During 80s, the powerloom population which was hardly 7 lakh had grown to more than 10 lakhs. The policy of scrapping of powerlooms of the mill industry after replacement or closure failed miserably, all these powerlooms found their way to the decentralized sector. The Government had no option but to regularize all unauthorised powerlooms due to political pressure after announcement of 1985 Textile Policy and subsequent Textile Control Order 1986, doing away with t he age old powerloom permit system. The textile strike during 1980s crippled the Textile mill industry in Mumbai and Maharashtra.During this period the composite structure of the mill industry broke almost completely. While the spinning sector prospered with the modern machinery, the number of working looms in the organized mills sector shrunk considerably and most of the mills found it profitable to close down their weaving section due to bad market condition, high cost of labour, low productivity and tough competition from the powerloom sector. As a result, there was practically no demand for the shuttleless looms manufactured by the two Companies mentioned above which prompted them to close down their shutters one by one.In the meantime, due to the pressure from the decentralized powerloom sector the Government was forced to allow import of second hand weaving machinery which added to the woes of indigenous manufacturers of shuttleless looms. M/s. LALW also had to discontinue the production of shuttleless looms subsequently. During 80s and upto 1991 there was protective market for spinning and processing machinery but not for the weaving machinery due to high production cost and import of second hand looms. Initiatives discouraged after liberalizationThe Industrial Policy announced in 1991 liberalised the Industry in general to a considerable extent. The market became open to the foreign manufacturers and there was tough competition. The spinning machinery makers came of age technologywise and capacitywise and there was also very high demand for spinning machinery. The weaving machinery could not prosper due to the onslaught of import of second hand machinery. There was no restriction on import of second hand weaving machinery before and after 1991. After 1992, there was no support of the Government either for development of weaving machinery or any other textile machinery.In this regard, the only commendable fact was that we became self-sufficient in Weavi ng Preparatory Machinery viz. High Speed Sectional Warping, Direct Warping and Sizing matching with world class technology. M/s. Rabatex Industries, Ahmedabad; M/s. Prashant Gamatex Pvt. Ltd. , Ahmedabad, M/s. Amritlakshmi Machine Works, Mumbai and M/s. Jupiter Engineering Co. , Ahmedabad are the most reputed domestic manufacturers. This could happen because there was less import of second hand machinery and the cost differential between domestic and imported machinery was large and the machines were custom built.The indigenous shuttleless looms (older technology) which have been developed during the late 90s and early 2000, however, could not find a good market due to the adverse policy of the Government i. e. import of second hand shuttleless looms under concessional duty and also under concessional rate of interest under TUF. The situation continues. However, indigenous machinery manufacturers viz. M/s. Aalidhra Weavetech Pvt. Ltd. , Surat; M/s. Bhavin Sales Corporation, Surat; M /s. Dynamic Loom Mfg. Co. , Ahmedabad; M/s. Dinkier Sokerjee Machines, Surat; M/s. Friends Engg.Works, Panipat; M/s. Himson Textile Engg. Inds. Pvt. Ld. ; Surat; M/s. Industrial Engg. Works, Bangalore; M/s. Lakshmi Automatic Loom Works Ltd. , Coimbatore; M/s. Laxmi Textile Stores, Ahmedabad; M/s. Lifebond Machines Pvt. Ltd. , Surat etc. have developed and are producing crank beat up type shuttleless looms with a speed between 450 – 500 mpm. All latest generation shuttleless looms i. e. Airjet, Waterjet, Projectile & Rapier of European and Japanese origin are high speed, high tech, high productive and energy efficient running at a speed of 500 rpm and above.This machinery, though at a higher cost, is economically viable due to its quality and productivity, cost of fabric per meter being less than second hand machinery. Since last 4/5 years, all new large textile units as well as existing reputed textile units expanding capacity had been importing these kinds of machinery to ma ke them commercially viable, e. g. Alok Industries, Welspun, GHCL, Vardhman Group, Century, Raymonds, etc. Therefore, machinery, if made/developed indigenously need to be cost competitive in all respects and cost of production per meter of fabric should be same or less with equivalent quality standard.Then only the manufacturing would be viable and accepted by the Mill Industry/ Organized Sector. Unless there are disincentives for second hand machinery, there is no hope that the decentralized powerloom sector would go in for new machinery. Processing & Finishing Machinery Sector The history of the processing machinery manufacturing sector was somewhat different. During 70s and 80s there were a number of foreign collaborations : M/s. Mather & Platt, U. K. M/s. Reggiani, Italy M/s. Stork, Holland M/s. Gerber, M/s. Menzel and M/s. Eduard Kusters, GermanyMather & Platt (I) Ltd. * SBM Engg. * ATE (Stovec/Stormac*) Calico Indl. Engineers* M/s. Artos & Benninger, Germany M/s. Famatex, Germ any M/s. Obermeaier, Germany M/s. Toshin Kogyo, Japan * Presently not in operation T. Maneklal* Famatex India Ltd. * Dalal Engg. Star Indl. Engg. * Some Companies developed machinery by copying the imported technology viz. M/s. Harish Textile Engineers, M/s. SM Engg. etc. As mentioned earlier, composite structure of the textile industry broke in Europe during 70s. The same happened in India during 80s. This affected the processing sector.While spinning industry became more organized, competitive and export- worthy, the weaving and processing sectors became uncompetitive, decentralized and export unworthy. Since the Government encouraged low technology for the weaving sector (handlooms and ordinary powerlooms), the organized weaving sector in the mill industry could not come up. Similarly, the decentralized processing sector, which started with second hand machinery from the composite mill industry, did not modernize the units in course of time. The domestic manufacturers which had o llaboration prior to 1991 could not continue with their collaborators after 1991 as the market became open and the foreign manufacturers found it easier to market their machines in India rather than making the same under collaboration. During 80s as well as 90s strenuous efforts were put in by some of the Companies to develop machinery by way of re-engineering. Some of them became successful. However, some of the Companies had to close down their shutters due to tough competition in the open market after 1991. Many manufacturing units came into existence to produce low technology cheap machinery to bridge the gap between demand and supply.This had resulted in manufacture of poor quality machines and poor quality processing of textiles thereof. The encouragement given by the Government to the hand processing sector was misused and low technology prevailed. The prominent processing machinery makers who developed quality machines during 80s and 90s were: 1. M/s. Calico Indl. Engineers, Mumbai* 2. M/s. Dalal Engg. Pvt. Ltd. , Mumbai 3. M/s. Devrekha Engineers, Surat 4. M/s. Harish Textile Engineers Ltd. , Mumbai 5. M/s. Mather & Platt (I) Ltd. , Mumbai* 6. M/s. Primatex Machinery Ltd. , Mumbai* 7. M/s. SLM Maneklal Ind. Ltd. , Mumbai* 8. M/s.SM Energy & Electronics, Mumbai 9. M/s. Standard Fabricators (I) Pvt. Ltd. , Mumbai 10. M/s. Stovec Industries Ltd. , Ahmedabad 11. M/s. Texprint Engineers Pvt. Ltd. , Ahmedabad * Presently not in operation In the latter half of 90s again saw acute demand recession from the Textile Industry which continued upto 2002. During this period the Textile Engineering Industry started looking beyond the domestic demand. Export which was never more than Rs. 100 crore until 1988-89 started increasing and reached the level of Rs. 406 crore during 2002-03. There were exports of spinning as well as processing machinery.Some of the manufacturers could compete with the European manufacturers in processing machinery abroad with their high qual ity machines. Improved Demand The demand for textile machinery started picking up slowly after 2002 as the Technology Upgradation Fund Scheme became popular by then. The Textile Industry was also expecting a better market after the st liberalized Quota Free Regime under WTO from 1 January, 2005. Major demand for machinery started after 2004 which has prompted the Textile Engineering Industry to increase its production from the level of Rs. ,341 crore during 2003-04 to Rs. 2,780 crore during 2006-07. However, this happened mainly in spinning machinery and weaving preparatory machinery and to some extent in weaving and processing machinery. The weaving and processing machinery sectors though increased their capacity to a considerable extent, has a long way to go. The processing sector started competing with foreign manufacturers since 1991 though sporadically. They have improved their technology and their machines are now capable of producing fault free processed fabrics in short as w ell as continuous lots.The domestic demand for such machinery has also increased. M/s. Dhall Enterprises & Engineers Pvt. Ltd. , Ahmedabad, M/s. Harish Enterprises Pvt. Ltd. , Mumbai, M/s. Tex-Fab Engineers (India) Pvt. Ltd. , Navi Mumbai produced continuous dyeing plants with latest technology for long length of fabric processing which are running successfully in the mills. The following manufacturers have exported their processing machines and earned a good name: 1. 2. 3. 4. 5. 6. 7. M/s. Dalal Engineering Pvt. Ltd. , Mumbai M/s. Devrekha Exports (Bhagyarekha Engineers Pvt. Ltd. ), Surat M/s.Dhall Enterprises & Engineers Pvt. Ltd. , Ahmedabad M/s. Harish Enterprise Pvt. Ltd. , Mumbai M/s. Kusters Calico Machinery (P) Ltd. , Vadodara M/s. Lakshmi Card Clothing Mfg. Co. Pvt. Ltd. , Coimbatore M/s. Yamuna Machine Works Pvt. Ltd. , Mumbai These manufacturers are in a position to make many high quality processing machines and compete with foreign manufacturers. Knitting/Hosiery Machine ry Knitting/Hosiery Industry as well as Garment Industry was reserved for the small scale sector. Both these sectors thrived initially with imported second hand machinery.Both Woven Garment and Hosiery Garment put together the total export of the country was only Rs. 5 crore during 1970-71. The exports increased to Rs. 500 crore in 1980 and today it is above Rs. 17,000 crore, thanks to the removal of quota shackles under WTO, implemented by the Government couple of years back. Decentralised character of the Garment industry did not enthuse the TEI to take up the manufacture of knitting machinery. As such this sector remained neglected altogether. Some efforts were made to manufacture knitting machinery by two Companies viz. M/s.Lakshmi Automatic Loom Works Ltd. , Coimbatore and M/s. Himson Textile Engineering Industries Pvt. Ltd. , Surat in late 80s. However, after liberalization of the Industrial Policy in 1991, imported machines became cheaper technology wise than the Indian machi nes due to which obviously there was no demand. Therefore, manufacture of knitting machinery had to be discontinued. Testing & Monitoring Equipments Sector As regards the Testing & Monitoring equipments are concerned, the textile industry was dependent on imported testing and monitoring equipments in 60s and early 70s.The Textile Engineering Industry started developing such testing & monitoring equipments in the late 70s and today all kinds of high quality latest generation testing and monitoring equipments are being manufactured in the country. Some of the items are: †¢ †¢ †¢ †¢ †¢ Air Jet Weaving Machine Controller Centralised Computerised Operation of Group of dyeing Machines with Dyeing Data Management Software Package Fully Automatic High Volume Fibre Tester for Length, Strength, Micronaire, Colour, Trash and Maturity module Multi-Channel Pre-Set Yarn Length Indicator & Controller for Winding/Texturising/TFO Machines with Software PackageYarn Evenness T ester Some names of the Companies manufacturing different categories of such instruments are under:†¢ †¢ †¢ †¢ †¢ †¢ Paramount Instruments Pvt. Ltd. Pioneer Instruments & Innovations Premier Evolvics Pvt. Ltd. Semitronik Instruments Tex Lab Industries Thymas Electronic Pvt. Ltd. Growth of the Parts & Accessories Sector The growth of the textile industry along the length and breadth of the country initiated the manufacture of parts and accessories for their machinery. Today, barring a few critical items of equipments and accessories lmost all kinds of parts and accessories of high quality are manufactured in the country. The number of such manufacturers could be around 800. Some of the important items manufactured here are: Blow Room beaters, card clothing, cross-roll attachment for cards, top rollers for high speed draw frame, flyers for speed frames, rings, spindles, inserts, cots and aprons and variable drives for ring frame, production of monitoring data in spinning and weaving online quality checking systems, cloth guides, web straighteners in processing, etc. etc.The TEI not only fulfills the demand for spares from the domestic textile industry but also exports its products to Asia, Africa, the Middle East, Far East, Europe, America and other countries as well. The following table shows data on production of Textile Machinery Parts & Accessories during the last 15 years: Year 1985-86 1990-91 1999-2000 2004-05 2006-07 Rs. in Crores 83. 43 208. 59 288. 79 276. 44 339. 68 Synthetic Yarn and Fabric Processing Machinery Sector Synthetic weaving sector of the textile industry which was scattered in different parts of the country in early 70s became localized in Surat, Bhiwandi, Belgaum.During 80s and 90s the synthetic sector was dominantly established in and around Surat, Gujarat. This simultaneously necessitated the development of synthetic yarn and fabric processing machinery. As a result the Textile Engineering Industry located in and around Surat and Mumbai developed draw texturising machines, draw twisters, two-for-one twisters for filament yarn, zero-twist filament sizing machines, rewinders, precision cone winding machines, etc. etc. More successful manufacturers are M/s. Himson Textile Engineering Industries Pvt. Ltd. , M/s. Aalidhra Textile Engineers Pvt. Ltd. Meera Industries, etc. The synthetic mechanical processing machinery was being imported during 70s and 80s. However, with the development of such machinery indigenously, we are not only catering to the domestic demand but also exporting the same. More and more developments are taking place due to the demand for such machinery. Conclusion Thus the Textile Engineering Industry could develop all types of textile machinery except garment machinery, high speed sophisticated knitting machinery, high speed shuttleless loom (rapier and air jet) and some of the latest generation processing and finishing machinery.The reasons for not developing these mac hinery have been categorically explained in the foregoing paras. What the TEI expects and aspires Under the above background it is felt that there is a real need to develop and manufacture all kinds of textile machinery in the country as per the existing and expected demand. Government should encourage these efforts and should come forward to help this Rs. 3,000- 4,000-crore capacity industry in a comprehensive and systematic manner with short and long term policy measures. It should take note of the developments of textile machinery made by China during the last 10 years.What China did? 1. Forced the foreign manufacturers to start manufacturing their brands in China by not allowing the import of machines from abroad. 2. Financed the domestic manufacturers for setting up the complete plants with large capacities. 3. No second hand machinery import 4. Incentives given for replacement of old machinery with new machinery. Incidentally, it may be mentioned that China had 6 lakhs ordinar y powerlooms/automatic looms prior to 2002. Today, they have shuttleless looms (2, 50, 000 to 3,00,000 approx. ). There may be few ordinary powerlooms in villages and automatic shuttle looms in some corners.No estimate of such looms is available. They have installed large machinery manufacturing capacities and are also exporting all kinds of textile machinery at a cheaper price. Therefore, the following measures are needed to improve the present condition of the Indian TEI A) Policy Measures †¢ †¢ Scheme for Modernisation, technology upgradation and productivity advancement of the Textile Engineering Industry (TEI). The interest remission under the scheme should be 5% with one time 10% Capital Subsidy over & above interest remission (Similar Schemes are available for the Textile Industry).Scheme to support Research & Development. o o †¢ †¢ †¢ †¢ †¢ †¢ †¢ Suitable capital grants and annual recurring grants for the existing R Centre at IIT, Powai, Mumbai. Suitable capital grants for the R Institutions located at Surat, Ahmedabad, Coimbatore, Delhi, Panipat and Ludhiana willing to take up R for textile machinery. Capital grant for indigenous development of machinery to the new projects as well as existing projects which got delayed due to lack of funds. Tax break/holiday for the manufacture of High Speed Shuttlelesss Looms/High-tech processing and finishing machinery for a period of five years.To allow import of complete sophisticated machinery in CKD/ SKD condition at concessional rate of import duty for a minimum period of three years without any restrictions for manufacturing textile machinery under collaboration/joint venture/import of designs and drawings or by way of reengineering. Ban import of machinery where similar technology machines are available indigenously e. g. shuttleless rapier loom â€Å"crank beat-up type†, water jet Looms (800 rpm) etc. Import of textile machinery in second hand condition sh ould not be allowed under the Technology Upgradation Fund Scheme/20% CLCS Scheme.Ban on import of second hand shuttleless looms with weft insertion rate less than 800 mtrs. per minute. Revival of TIFAC scheme for development of textile machinery with 90% loan component and softer rate of interest of 3%. B) Fiscal Measures †¢ †¢ †¢ †¢ †¢ †¢ Reduction of excise duty from 14% to 8% Excise duty on parts, components and accessories of the machines be reduced to 8%. Maintaining the floor level customs duty on textile machinery at 7. 5% without any exemptions Uniform rate of customs duty for complete machinery and raw materials, parts, components & accessoriesUniform treatment to the domestic suppliers of machinery to EPCG license holders. 150% weighted Income Tax deduction for R expenditure made by the Textile Engineering units. If the above measures are taken seriously, the TEI aspires to make available modern machinery and equipment both in quantum and qual ity to meet the future needs of the textile industry at short delivery periods coupled with effective and prompt after-sales-service. About the Author: The author is the Secretary of The Textile Machinery Manufactures Association.

The Culture and Healing of Traditional Chinese Medicine Essay Example

The Culture and Healing of Traditional Chinese Medicine Essay Example The Culture and Healing of Traditional Chinese Medicine Essay The Culture and Healing of Traditional Chinese Medicine Essay The Yellow Emperor’s Classic of Internal Medicine, it states, when one masters the mystery of the yin yang principle, one can even enjoy life as long as nature itself. Another important principle of TCM is the five elements: wood, fire, earth, metal, and water. The five-element theory describes the relationships between the human body and the external environment and the physiological and pathological interactions among the internal organs within the body (Lao 1999).Metal is associated with the color white and represents grief and sadness. The sense organ is the nose and the taste associated with metal is spicy. It represents autumn with a dry climate. Illnesses that accompany those who are at an imbalance with metal include frequent colds and flus, coughs that are dry, moist, and productive, dry mouth and throat, weight loss, breathlessness, phlegm, and hot sensations within the palms of hands and soles of feet. Earth is associated with the color yellow and represents sympathy. The sense organ is the mouth and it represents late summer with a damp climate.Fire represents the color red along with joy and love. The sense organ is the tongue that can taste bitterness. It represents summer with a hot climate. Fire is associated with the heart and small intestine. Illnesses associated with fire include tiredness, palpitations, cold extremities, sweating during the day and night, swelling in legs, anxiety, disturbed sleep, poor memory, dizziness, dry mouth and throat, and red tongue tissue. Water is associated with the color black and represents fear and phobias. The sense organ is the ear and the taste associated with it is salty.Black represents winter with a cold climate. Wood is associated with the color green and embodies the emotions of anger and irritability. The sense organs are the eyes and the taste associated with it is sour. Wood represents spring with a windy climate. Illnesses that represent imbalance in wood include problems where the liver channel passes through the body, problems in women’s breasts, the abdomen, genital area, and eyes, headache, irritability, numbness, and tremors (Benedict 56). Holism and differentiation are the other principles in TCM.The concept of holism considers the individual person as being comprised of and subject to the elements and forces of nature as a whole. Each individual is considered as an interconnected whole that embodies the mind, body, and soul as a unified piece. This will lead to TCM practitioners considering the physical, mental, and emotional state of the patient and their relativity to the environment. The principle of differentiation allows a practitioner to distinguish between signs and symptoms of specific illnesses. Different pathologic factors and their mechanisms are responsible for or contribute to disease formation.However, each illness may be unique to each individual, thus differentiation allows the practitioner to administer the appropriate treatment, be it herbs, acupuncture, dietary therapy, or massages. As a result, TCM diagnoses and treatments are much more individualized. If balanced in unity, these four principles come together to form the well being of an individual, leading to Qi. Qi is the term used to describe how human physiological functions are maintained. It is the basic unit of movement and heat in the body that is a matter without form, invisible, subtle, activating, warming, moving, and energizing (Benedict).This vital energy flows through the channels, or meridians, of the body and participates in the homeostatic regulation of bodily functions (Gould-Martin). Qi flows through 12 primary and eight additional meridians. Each 12 meridians (qing luo) are major channels that connect us to our immediate surroundings and promote the integrated function of all organ systems (Benedict 55). The extra eight channels allow for the overflow of abundant energy (Benedict 55). There are 360 points distributed along the meridians that serve as signs of both disorder and loci for acupuncture treatment (Lao et al).Qi can be accessed at any of these given points so that disturbances both within the channel and the associated internal organs can be treated; each pressure point is associated with a therapeutic action. When the normal flow of Qi through a meridian is obstructed along its pathway, symptoms occur and physiological health is put in jeopardy. In conclusion, Qi can be thought of as a circulatory system with no anatomical or physiological basis for the channels that conducts vital force throughout the body just like blood supplies oxygen and nutrients.If one is healthy, their qi pathways are not obstructed. If movement of Qi is slowed or blocked, yin or yang dominates the other. To heal obstructed pathways, acupuncture is used. Acupuncture is a form of therapy that has its origins for over 2000 years (Pearson). Whenever Qi is stuck, accumulation of heat occurs because Qi is naturally warm. Where the circulation of qi is blocked, fluids, blood, and waste can accumulate and produce swelling. The absence of qi produces the presence and dominance of yin. Acupuncture treatment aims to reopen the meridians and restore the flow of Qi.The method of acupuncture consists of inserting thin needles into one or multiple corresponding points along the meridians according to the illness. Each point along the channels corresponds to a therapeutic action. There are two purposes of acupuncture: to release tension and pressure of accumulating heat or alleviate swelling by energizing the cells to process the waste and thus get rid of it. If the individual is generally healthy overall, the insertion of acupuncture needles usually resolve symptoms quickly because the specific acupuncture points directly influence the healing of the affected organ(s).However, in some individuals, when organ systems are deprived of a strong, even flow of Qi over a long period of time, chronic health problems arise. Acupuncture therapy heals pain, nausea and vomiting, immune system response, hemodynamic functions, addiction and substance abuse, agitation and restlessness, and rheumatoid arthritis (Sutherland 41). The 12 main channels each correspond to a specific organ. The upper limb channels represented by yin include the lung, heart, and pericardium. The three represented by yang are the large intestine, small intestine, and san jiao (the thoracic and abdomino-pelvic cavities).In the lower limb, the three channels represented by yin are the spleen, liver, and kidney. The channels represented by yang are the stomach, urinary bladder, and gall bladder (Pearson). Another method of healing in TCM is by the use of medicinal herbs. Herbs are used to achieve an optimum balance of Qi. China’s first emperor, Huang Ti, and his cabinet members developed techniques to diagnose diseases at to use herbs in their treatment. Many herbal formulations, consisting of four to 12 individual herbs, have been recorded in Chinese medical literature from the earliest known Shen Nung Ben Tsao Jing (Lee 516).In another literature with an unknown author, The Herbal Classic of the Divine Plowman, contains three volumes describing 365 drugs – one for each day of the year. Among them, 252 are plant derived, 67 from animals, and 46 from minerals. The herbal components in a mixture can be ranked into four types. The first type is the imperial herb; it is the chief herb and main ingredient of a formula that serves the biggest function. The second is the ministerial herb, which augments and promotes the action of the imperial herb. The assistant herb reduces the side effects of the imperial herb and the servant herb is the last component.It harmonizes or coordinates the action of all the other herbs. The change in composition of one herb combination induces different pharmacological actions. Examples of common herbs include Echinacea, feverfew, garlic, gingko, ginseng, palmetto, and St. John’s wort. Figure 1. A traditional Chinese herbal shop in Hong Kong selling medicinal herbs. Aside from medicine, exercise is used to maintain a healthy and balanced Qi. Qigong is a form of exercise and health care practice that acts on bettering posture, breathing, and mental focus.Qigong can be categorized as martial, medical, and spiritual. Leading back into Taoist and Buddhist tradition, qigong was believed by ancient Chinese monks to be a way to bridge together the powers of the mind, body, and universe through body movements, meditation, and deep concentration. When Qi becomes blocked through emotional pain or physical illness (i. e. , stress, over-work, poor diet, lack of sleep, insufficient exercise, and excess sadness/joy/fear/anxiety/anger) qigong may heal though specific breathing patterns, movements, visualization, and meditation (Lin).The slow, rhythmic movements allow consistency and improve the vital energy life force. Tui na massage is a hands-on form of healing in TCM and has been in practice for more than four thousand years (Mercati 10). The term tui means to push and na means to grasp; together, this massage works to relieve not only muscles and joints but to penetrate each meridian that frees blocked and stagnant Qi (Mercati 10). Tui na involves active communication between the giver and the receiver. The receiver acts as the sick role, in informing the healer where to treat and the amount of pressure to use (Mercati 11).Together, this is another method in TCM of restoring Qi balance when emotional, physical, and external factors are out of balance. Acupressure is another way to balance the body’s qi by applying pressure to specific points along our body’s energy channels. However, the term pressure may be misleading because acupressure is usually given in a light touch. The effectiveness of the work does not depend on the amount of force put onto the therapy, rather the location of contact is the method of healing. A practitioner may use various tools to assess the strength of the 12 meridians.After pressing down on the point(s), a practitioner can sense a pulse caused by Qi flow. If there is no pulse, however, those are the areas that are though to have blocked meridians. There are different types of points along the channel that serve different functions. Comfort points, located along the bladder and gallbladder meridians, relieve tension, restlessness, and frustration because the gallbladder meridian is associated with relaxation. Alleviation points are on the foot and relate to the kidney and liver meridians.Jogging and walking help relax the body in that part because when those points are stimulated, it reduces pain, tension, and sleeplessness. Potent points are near the nail beds on fingers and toes. They are effective in healing weakness, fatigue, listless, and faintness because of affecting illnesses (Sutherland 41). The final way of healing in TCM is moxibustion – the application of heat on specific pressure points from the burning of a small bundle of tightly bound herbs. The herbs are bound together with a variety of dried leaves such as mugwort or wormwood plants that have been formed into a cigar-like cone, called a moxa.Direct moxibustion is burning the cone right on the acupuncture point of the skin. This method is less popular because it often produces pain and scarring. The more common method is the indirect method, which involves either burning moxa above the skin or on top of an acupuncture needle that has been left in place. Other practitioners place a layer of ginger, garlic, or salt on the patient’s skin with the burning moxa on top of it. The radiant heat produced is intended to penetrate the body, thus restoring the balance of flow of vital life energy.TCM is a naturalistic medical belief that diagnoses based on imbalance due to the environment. Ancient Chinese healing base health on the balance of Qi. Any deviation or imbalance can be cured by a variety of medical methods, diets, and exercise. ? Au, Derrick Kit-Sing. 2011 Mix of Medicines. Visual Anthropology 24: 189-202 Benedict, Martha with Heller, Lyra. 1999 The Enduring Elements of Traditional Chinese Medicine. Total Health 21(2): 54-57. Flesch, Hannah. 2013 A Foot in Both Worlds: Education and the Transformation of Chinese Medicine in the United States.Medical Anthropology: Cross Cultural Studies in Health and Illness 32(1): 8-24. Gould-Martin, Katherine. 1978 Hot Cold Clean Poison and Dirt: Chinese Folk Medicine Categories. Social Science and Medicine 12: 39-46. Hesketh, Therese with Zhu, Wei Xing. 1997 Health in China: Traditional Chinese Medicine: One Country, Two Systems. British Medical Journal 315(7100): 115-117. Huang, Kee C. 1999 The Pharmacology of Chinese Herbs, Second Edition. Florida: CRC Press LLC. Jingfeng, Cai. A Historical Overview of Traditional Chinese Medicine and Ancient Chinese Medical Ethics.China Academy of Traditional Chinese Medicine. Kam, P. C. A. with Liew, S. 2002 Traditional Chinese Herbal Medicine and Anesthesia. Anaesthesia 57: 1083-1089. Lao, Lixing, Xu, Ling, Xu, Shifen. 2012 Traditional Chinese Medicine. Integrative Pediatric Oncology. Lee, Kuo-Hsiung. 2002 Research and Future Trends in the Pharmaceutical Development of Medicinal Herbs from Chinese Medicine. Public Health Nutrition 3(4A): 515-522. Louie, Allison. 2007 Qigong’ Takes the Test: The Science Behind Chinese Healing Arts. Science Spirit. Mercati, Maria. 997 The Handbook of Chinese Massage: Tui na Techniques to Awaken Body and Mind. Vermont: Healing Arts Press. Shinnick, Phillip. 2006 Qigong: Where Did it Come From? Where Does it Fit in Science? What Are the Advances? The Journal of Alternative and Complementary Medicine 12(4): 351-353. Sutherland, Judith A. 2000 Getting to the Point. The American Journal of Nursing 100(9): 40-45. American Cancer Society. Moxibustion. Accessed at cancer. org/treatment/treatmentsandsideeffects/complementaryandalternativemedicine/manualhealingandphysicaltouch/moxibustion on May 29, 2013.

Should America Abolish the Federal Reserve System Essay Example

Should America Abolish the Federal Reserve System Essay Example Should America Abolish the Federal Reserve System Essay Should America Abolish the Federal Reserve System Essay Should the United States Abolish the Federal Reserve System? The Federal Reserve System was instituted on December 23rd, 1913 by an act of Congress and serves as the central bank of the United States (â€Å"Federal Reserve System†). It is made up of twelve Reserve Banks with its headquarters in Washington D. C. The Board of Governors consists of seven members and two of them are designated and confirmed Chairman and Vice Chairman. The Chairman and Vice Chairman serve for four year terms while the other members serve fourteen year terms (The Structure of the Federal Reserve System). The responsibility of the Federal Reserve System is to conduct the nations monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U. S. government, and foreign official institutions (Bachman, Jess). Henry Ford once said, â€Å"It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be revolution before tomorrow morning. (Conspiracies of the Federal Reserve†¦. † There are but a few persons who truly know about the Federal Reserve System. What people must realize is that the Federal Reserve System virtually controls the monetary system of the United States, yet it is accountable to no one. It has no budget, it is subject to no audit and no Congressional Committee knows of, or can truly supervise its operations. Therefore, the United States of America should abolish the Federal R eserve System simply because it lacks transparency, it caters to the rich and wealthy of the nation instead of the poor and middle class and it is not a government institution or a bank. If this is the case then why should a private institution be in control of the government funds and why should an institution that is not a bank serve as the central bank of a nation? There are many who question the Federal Reserve and why it is not transparent like other central banks in developed countries and also whether or not this lack of transparency will affect the economy. For many years the Federal Reserve has explicitly defended secrecy and opposed full disclosure. They believe that fuller disclosure will promote unnecessary volatility in financial markets, benefit certain speculators and interfere with the execution of money policy(Bachman, Jess). The fact is that secrecy of the monetary policy will increase financial market uncertainty, unvolatility, and larger uncertainty premiums in interest rates. According to the President of the Federal Reserve Bank in Kansas City, a potential solution to the problem of lack of transparency is â€Å"advancing how they use the minutes†(Grurdman, Don J. . He believes that forcing the Federal Reserve System to be more honest and open when crisis occur, allowing them to be questioned on the economic policy and giving wide publicity to their decisions will help bankers and investors make wise and safe decisions that can help the market to grow, but since the Federal Reserve was created it has always operated in the shadows, without sufficient scrutiny or oversight of its operations. In one instance, the Federal Reserve can enter into agreements with foreign central banks and foreign government yet the Government Accountability Office is prohibited from auditing or even seeing these agreements(Conspiracies of the Federal†¦. ). If the Federal Reserve System cannot operate in openness then why should it be in operation? The Federal Reserve was always in favour of the rich of the country. There are three financial forces that keep the poor and middle class working hard and struggling financially. These forces are taxes, debt and inflation and retirement (Kiyosaki, Robert T. ). It is important to understand that these forces are kept alive by the Federal Reserve System’s license to print money. America was basically tax-free in the early days. In 1862 the first income tax was used to pay for the Civil War. In 1895, the Supreme Court ruled that income tax was unconstitutional but however, in 1913 when the Federal Reserve System was created, income tax was made permanent. By this the rich could put their hands in the people’s pockets via taxes permanently. Also, inflation which is caused by the Federal Reserve printing money to pay the government’s bills makes the cost of living very expensive for the poor and middle class but the rich get richer since they are the ones who own the big businesses. Additionally, in 1974 the U. S. Congress passed the ERISA and this forced Americans to invest in the stock market for their retirement through mediums such as 401(k). Such investments normally have high fees, high risks and low returns. Because of this, today many people do not have enough money to retire because they have lost all their wealth in the stock market crash (Kiyoskai, Robet T. ). When we look at the relationship between the Federal Reserve and the three forces we can indeed conclude that the poor and middle class have not been served justice. If the Federal Reserve System is one that is biased and caters to only one class in the American society then it should without a doubt be abloished. Thomas Jefferson, declared, If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered†(Supinski, Ron). From the beginning it was persons like Thomas Jefferson who knew that the idea of allowing private banks to control the nation’s funds would not to be beneficial to the American society and this is why the Federal Reserve System should be abolished. It is a privately owned bank. In the Federal Reserve decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government (Brown, Ellen). The shareholders of the Federal Reserve are private banks. In fact 100% of its shareholders are private banks and none is owned by the government (Brown, Ellen). By law, ownership of a certain amount of stock is a condition of membership so if the government is not a member of this institution, why is it in charge of the nation’s monetary system? Shouldn’t this be one aspect the government should have the ultimate say in? In the case of John L. Lewis/Appellant vs. The United States of America/Apellee, it was held: It is clear from this that in some circumstances, the Federal Reserve Bank can be considered a government instrumentality, but cannot be considered a federal agency, because the term carries with it the assumption that the federal government has direct oversight over what the Fed does. Of course it does not, because most people who know about this subject know that the Fed is politically independent. (Court Rules Federal Reserve is Privately Owned) Because of this ruling, the United States government was not entitled to pay John Lewis for the injuries he received from an accident that involved a vehicle belonging to the Federal Reserve. It is quite evident now that the Federal is indeed a private institution and because of this it should not control the United States’ monetary system and it should be abolished. Up to this present day many Americans still argue that it was the Federal Reserve System that saved the United States from the Panic of 1907. It was believed that the United States unlike European states was vulnerable without a central bank and if the Federal Reserve hadn’t come along to extend the supply of money during periods of low cash reserves, the country was going to undergo the most severe and far reaching money panic in its history. Sadly, the Federal Reserve still failed in preventing the even worse bank failures in the Great Depression. What Americans must understand is that the Panic of 1907 was not caused because the United States did not have a central bank. The main cause of the crash was stock market and real estate speculation (Flodvary, Fred). This shows that if there was a central bank established, there may have been the same results since there is no proof of the Federal Reserve being the one to save the economy of the United States during that time. I must remind the audience that from the beginning when idea of the Federal Reserve came into existence it was always a big secret where everyone was left in the dark. Many secret meetings were held on Jerkyll Island where banking ideas were discussed and the plan eventually became the Federal Reserve System (Foldvary, Fred). The Federal Reserve System did not come into existence to help the Americans overcome the panic of 1907 but it was created with the interest of its creators in mind. Even when the Federal Reserve Act was passed in Congress, there were only three members present. This was because there were many persons who really knew what the future of the American economy in the hands of the Federal Reserve looked like and they had opposed it. The monetary system is not what Americans are led to believe. The creation of money has been privatized, or taken over by private money lenders and Thomas Jefferson called them â€Å"bold and bankrupt adventurers just pretending to have money† (Brown,Ellen). The banking system has been contrived by the Federal Reserve so that big banks always get bailed out by the taxpayers from their risky ventures. The deceptions of the Federal Reserve concerning the money scheme has been unraveled and a crystal clear picture is presented of the financial abyss towards which America has been led to. There is workable alternative to the Federal Reserve, one that was tested in colonial America and is grounded in the best of American economic thought, including the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln. This alternative is a federal agency owned by the government that can be subject to an audit, has a buget, accountable to someone and in a position where its operations can be truly supervised. This idea has already been thought out by America’s greatest minds. It is now that time for the American government to take those ideas in order to continue in the best interest of its people and abolish the Federal Reserve System for good! Bachman, Jess. A Visual Guide to the Federal Reserve System. (2009). Brown, Ellen. The Web of Debt: The Shocking Truth about Our Money System. Third Millennium Press, 2008. - . Who owns the Federal Reserve? The South Florida Business Journal (2008): 73-75. Conspiracies of the Federal Reserve System. Perf. Ron Paul. 2008. Court Rules Federal Reserve is Privately Owned. No. 04-2357. United States Courts of Appeal. 28 April 2005. Federal Reserve System. 2010. 20 October 2010 lt;www. britannica. comgt;. Foldvary, Fred E. The Panic of 1907. 1 May 2007. 12 October 2010 lt;www. freerepublic. com/focusgt;. Grurdmann, Don J. The Truth about the Federal Reserve- The Biggest Financial Crime in the History of the United States. (n. d. ): 1-2. Kiyosaki, Robert T. Rich Dads Conspiracy of the Rich. New York: Business Plus and CASHFLOW Technologies, Inc. , 2009. Supinski, Ron. The Federal Reserve System is a Private Bank. 8 October 1992. 15 October 2010 lt;www. the7thfire. com/Politics%20and%20History/Federal-Reserve. htmlgt;. The Structure of the Federal Reserve System. 3 July 2003. 2 November 2010 lt;www. federalreserve. govgt;.