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Heretofore little attention has been paid to the early history of the business corporation in America. John Cadman throws sharp light on the development of one of the most important of American institutions by investigating in detail the history, from 1791 to 1875, of chartered business corporations in the state of New Jersey, which became notorious as the most “liberal” incorporating jurisdiction in the United States. Students and teachers of legal and financial history will find his study very valuable.