Commercial bank

A commercial bank is a type of bank that provides services, such as accepting deposits, giving business loans and basic investment products. Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to individual members of the public (retail banking). In the US the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the great depression, through the GlassSteagall Act, the U.S. Congress required that commercial banks only engage in banking activities, whereas investment banks were limited to capital markets activities. This separation was mostly repealed in the 1990s.

Origin of the word

The name bank derives from the Italian word banco "desk/bench", used during the Renaissance era by Florentine bankers, who used to make their transactions above a desk covered by a green tablecloth.[1] However, traces of banking activity can be found even in ancient times. Some have suggested, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are derived. As a moneychanger, the merchant at the bancu did not so much invest money as merely convert the foreign currency into the only legal tender in Rome that of the Imperial Mint.[2]

The role of commercial banks

Commercial banks engage in the following activities:

processing of payments by way of telegraphic transfer, EFTPOS, internet banking, or other means issuing bank drafts and bank cheques accepting money on term deposit lending money by overdraft, installment loan, or other means providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures safekeeping of documents & other items in safe deposit boxes sales, distribution or brokerage, with or without advice, of: insurance, unit trusts and similar financial products as a financial supermarket cash management and treasury merchant banking and private equity financing traditionally, large commercial banks also underwrite bonds, and make markets in currency, interest rates, and credit-related securities, but today large commercial banks usually have an investment bank arm that is involved in the mentioned activities [clarify].

Types of loans granted by commercial banks

Secured loans

A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral in the event that the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally lent to the borrower, for example, foreclosnted a portion of the bundle of rights to specified property. If the sale of the collateral does not raise enough money to pay off the debt, the creditor can often obtain a deficiency judgment against the borrower for the remaining amount. The opposite of secured debt/loan is unsecured debt, which is not connected to any specific piece of property and instead the creditor may only satisfy the debt against the borrower rather than the borrower's collateral and the borrower. A mortgage loan is a very common type of debt instrument, used to purchase real estate. Under this arrangement, the money is used to purchase the property. Commercial banks, however, are given security - a lien on the title to the house - until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it. In the past, commercial banks have not been greatly interested in real estate loans and have placed only a relatively small percentage of assets in mortgages. As their name implies, such financial institutions secured their earning primarily from commercial and consumer loans and left the major task of home financing to others. However, due to changes in banking laws and policies, commercial banks are increasingly active in home financing. Changes in banking laws now allow commercial banks to make home mortgage loans on a more liberal basis than ever before. In acquiring mortgages on real estate, these institutions follow two main practices. First, some of the banks maintain active and well-organized departments whose primary function is to compete actively for real estate loans. In areas lacking specialized real estate financial institutions, these banks become the source for residential and farm mortgage loans. Second, the banks acquire mortgages by simply purchasing them from mortgage bankers or dealers. In addition, dealer service companies, which were originally used to obtain car loans for permanent lenders such as commercial banks, wanted to broaden their activity beyond their local area. In recent years, however, such companies have concentrated on acquiring mobile home loans in volume for both commercial banks and savings and loan associations. Service companies obtain these loans from retail dealers, usually on a nonrecourse basis. Almost all bank/service company agreements contain a credit insurance policy that protects the lender if the consumer defaults.
Unsecured loan

Unsecured loans are monetary loans that are not secured against the borrower's assets (no collateral is involved). There are small business unsecured loans such as credit cards and credit

lines to large corporate credit lines. These may be available from financial institutions under many different guises or marketing packages:

bank overdrafts corporate bonds credit card debt credit facilities or lines of credit personal loans

A corporate bond is a bond issued by a corporation. It is a bond that a corporation issues to raise money in order to expand its business. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date. (The term "commercial paper" is sometimes used for instruments with a shorter maturity.) Sometimes, the term "corporate bonds" is used to include all bonds except those issued by governments in their own currencies. Strictly speaking, however, it applies only to bonds issued by corporations, not to bonds of local authorities and supranational organizations. Corporate bonds are often listed on major exchanges (bonds there are called "listed" bonds) and ECNs like Bonds.com and MarketAxess and the coupon (or interest payment) is usually taxable. Sometimes, this coupon can be zero, with a high redemption value. However, despite being listed on exchanges, the vast majority of trading volume in corporate bonds in most developed markets takes place in decentralized, dealer-based, over-the-counter markets. Some corporate bonds have an embedded call option that allows the issuer to redeem the debt before its maturity date. Other bonds, known as convertible bonds, allow investors to convert the bond into equity. Corporate credit spreads may alternatively be earned in exchange for default risk through the mechanism of credit default swaps, which give an unfunded synthetic exposure to similar risks on the same 'Reference Entities'. However, quite volatile credit default swaps 'basis' make the spreads on credit default swaps and the credit spreads on corporate bonds be significantly different.

Assets and Liabilities of Commercial Banks in the United States Glass-Steagall Act Mortgage constant

Functions
Commercial banks perform many functions. They satisfy the financial needs of the sectors such as agriculture, industry, trade, communication, so they play very significant role in a process of economic social needs. The functions performed by banks, since recently, are becoming customer-centred and are widening their functions. Generally, the functions of commercial banks are divided into two categories: primary functions and the secondary functions. The following chart simplifies the functions of commercial banks. Commercial banks perform various primary functions, some of them are given below:

Commercial banks accept various types of deposits from public especially from its clients, including saving account deposits, recurring account deposits, and fixed deposits. These deposits are payable after a certain time period Commercial banks provide loans and advances of various forms, including an overdraft facility, cash credit, bill discounting, money at call etc. They also give demand and demand and term loans to all types of clients against proper security. Credit creation is most significant function of commercial banks. While sanctioning a loan to a customer, they do not provide cash to the borrower. Instead, they open a deposit account from which the borrower can withdraw. In other words, while sanctioning a loan, they automatically create deposits, known as a credit creation from commercial banks.

Along with primary functions, commercial banks perform several secondary functions, including many agency functions or general utility functions. The secondary functions of commercial banks can be divided into agency functions and utility functions. The agency functions are the following:

To collect and clear cheque, dividends and interest warrant. To make payments of rent, insurance premium, etc. To deal in foreign exchange transactions. To purchase and sell securities. To act as trusty, attorney, correspondent and executor. To accept tax proceeds and tax returns.

The utility functions are the following:

To provide safety locker facility to customers. To provide money transfer facility. To issue traveller's cheque. To act as referees. To accept various bills for payment: phone bills, gas bills, water bills, etc. To provide merchant banking facility. To provide various cards: credit cards, debit cards, smart cards, etc.

References
1. Jump up ^ de Albuquerque, Martim (1855). Notes and Queries. London: George Bell. p. 431. 2. Jump up ^ Matyszak, Philip (2007). Ancient Rome on Five Denarii a Day. New York: Thames & Hudson. p. 144. ISBN 0-500-05147-X.

Flood
A flood is an overflow of water that submerges land which is normally dry.[1] The European Union (EU) Floods Directive defines a flood as a covering by water of land not normally covered by water.[2] In the sense of "flowing water", the word may also be applied to the inflow of the tide. Flooding may occur as an overflow of water from water bodies, such as a river or lake, in which the water overtops or breaks levees, resulting in some of that water escaping its usual boundaries,[3] or it may occur due to an accumulation of rainwater on saturated ground in an areal flood. While the size of a lake or other body of water will vary with seasonal changes in precipitation and snow melt, these changes in size are unlikely to be considered significant unless they flood property or drown domestic animals. Floods can also occur in rivers when the flow rate exceeds the capacity of the river channel, particularly at bends or meanders in the waterway. Floods often cause damage to homes and businesses if they are in the natural flood plains of rivers. While riverine flood damage can be eliminated by moving away from rivers and other bodies of water, people have traditionally lived and worked by rivers because the land is usually flat and fertile and because rivers provide easy travel and access to commerce and industry. Some floods develop slowly, while others such as flash floods, can develop in just a few minutes and without visible signs of rain. Additionally, floods can be local, impacting a neighbourhood or community, or very large, affecting entire river basins.

Etymology
The word "flood" comes from the Old English flod, a word common to Germanic languages (compare German Flut, Dutch vloed from the same root as is seen in flow, float; also compare with Latin fluctus, flumen). Deluge myths are mythical stories of a great flood sent by a deity or deities to destroy civilization as an act of divine retribution, and they are featured in the mythology of many cultures.

Principal types and causes

Areal (rainfall related)

Floods can happen on flat or low-lying areas when the ground is saturated and water either cannot run off or cannot run off quickly enough to stop accumulating. This may be followed by a river flood as water moves away from the floodplain into local rivers and streams. Floods can also occur if water falls on an impermeable surface, such as concrete, paving or frozen ground, and cannot rapidly dissipate into the ground. Localised heavy rain from a series of storms moving over the same area can cause areal flash flooding when the rate of rainfall exceeds the drainage capacity of the area. When this occurs on tilled fields, it can result in a muddy flood where sediments are picked up by run off and carried as suspended matter or bed load.

Riverine

River flows may rise to floods levels at different rates, from a few minutes to several weeks, depending on the type of river and the source of the increased flow. Slow rising floods most commonly occur in large rivers with large catchment areas. The increase in flow may be the result of sustained rainfall, rapid snow melt, monsoons, or tropical cyclones. Localised flooding may be caused or exacerbated by drainage obstructions such as landslides, ice, or debris. Rapid flooding events, including flash floods, more often occur on smaller rivers, rivers with steep valleys or rivers that flow for much of their length over impermeable terrain. The cause may be localised convective precipitation (intense thunderstorms) or sudden release from an upstream impoundment created behind a dam, landslide, or glacier. Dam-building beavers can flood low-lying urban and rural areas, occasionally causing some damage.
Estuarine and coastal

Flooding in estuaries is commonly caused by a combination of sea tidal surges caused by winds and low barometric pressure, and they may be exacerbated by high upstream river flow. Coastal areas may be flooded by storm events at sea, resulting in waves over-topping defences or in severe cases by tsunami or tropical cyclones. A storm surge, from either a tropical cyclone or an extratropical cyclone, falls within this category.
Urban flooding

Urban flooding is the inundation of land or property in a built environment, particularly in more densely populated areas, caused by rainfall overwhelming the capacity of drainage systems, such as storm sewers. Although sometimes triggered by events such as flash flooding or snowmelt, urban flooding is a condition, characterized by its repetitive and systemic impacts on communities, that can happen regardless of whether or not affected communities are located within formally designated floodplains or near any body of water.[4] There are several ways in which stormwater enters properties: backup through sewer pipes, toilets and sinks into buildings; seepage through building walls and floors; the accumulation of water on property and in public rights-of-way; and the overflow from water bodies such as rivers and lakes.
Catastrophic

Catastrophic flooding is usually associated with major infrastructure failures such as the collapse of a dam, but they may also be caused by damage sustained in an earthquake or volcanic eruption. See outburst flood.

Effects
Primary effects

The primary effects of flooding include loss of life, damage to buildings and other structures, including bridges, sewerage systems, roadways, and canals. Infrastructure damage also frequently damages power transmission and sometimes power generation, which then has knock-on effects caused by the loss of power. This includes loss of drinking water treatment and water supply, which may result in loss of drinking water or severe water contamination. It may also cause the loss of sewage disposal facilities. Lack of clean water combined with human sewage in the flood waters raises the risk of waterborne diseases, which can include typhoid, giardia, cryptosporidium, cholera and many other diseases depending upon the location of the flood. Damage to roads and transport infrastructure may make it difficult to mobilise aid to those affected or to provide emergency health treatment. Flood waters typically inundate farm land, making the land unworkable and preventing crops from being planted or harvested, which can lead to shortages of food both for humans and farm animals. Entire harvests for a country can be lost in extreme flood circumstances. Some tree species may not survive prolonged flooding of their root systems [5]
Secondary and long-term effects

Economic hardship due to a temporary decline in tourism, rebuilding costs, or food shortages leading to price increases is a common after-effect of severe flooding. The impact on those affected may cause psychological damage to those affected, in particular where deaths, serious injuries and loss of property occur. Urban flooding can lead to chronically wet houses, which are linked to an increase in respiratory problems and other illnesses.[6] Urban flooding also has significant economic implications for affected neighborhoods. In the United States, industry experts estimate that wet basements can lower property values by 10-25 percent and are cited among the top reasons for not purchasing a home.[7] According to the U.S. Federal Emergency Management Agency (FEMA), almost 40 percent of small businesses never reopen their doors following a flooding disaster.[8]

Flood forecasting
Anticipating floods before they occur allows for precautions to be taken and people to be warned [9] so that they can be prepared in advance for flooding conditions. For example, farmers can remove animals from low-lying areas and utility services can put in place emergency provisions to re-route services if needed. Emergency services can also make provisions to have enough resources available ahead of time to respond to emergencies as they occur. In order to make the most accurate flood forecasts for waterways, it is best to have a long timeseries of historical data that relates stream flows to measured past rainfall events.[10] Coupling this historical information with real-time knowledge about volumetric capacity in catchment

areas, such as spare capacity in reservoirs, ground-water levels, and the degree of saturation of area aquifers is also needed in order to make the most accurate flood forecasts. Radar estimates of rainfall and general weather forecasting techniques are also important components of good flood forecasting. In areas where good quality data is available, the intensity and height of a flood can be predicted with fairly good accuracy and plenty of lead time. The output of a flood forecast is typically a maximum expected water level and the likely time of its arrival at key locations along a waterway,[11] and it also may allow for the computation of the likely statistical return period of a flood. In many developed countries, urban areas at risk of flooding are protected against a 100-year flood - that is a flood that has a probability of around 63% of occurring in any 100 year period of time. According to the U.S. National Weather Service (NWS) Northeast River Forecast Center (RFC) in Taunton, Massachusetts, a general rule-of-thumb for flood forecasting in urban areas is that it takes at least 1 inch (25 mm) of rainfall in around an hour's time in order to start significant ponding of water on impermeable surfaces. Many NWS RFCs routinely issue Flash Flood Guidance and Headwater Guidance, which indicate the general amount of rainfall that would need to fall in a short period of time in order to cause flash flooding or flooding on larger water basins.[12]

Control
Main article: Flood control

In many countries around the world, waterways prone to floods are often carefully managed. Defenses such as detention basins, levees,[13] bunds, reservoirs, and weirs are used to prevent waterways from overflowing their banks. When these defences fail, emergency measures such as sandbags or portable inflatable tubes are often used to try and stem flooding. Coastal flooding has been addressed in portions of Europe and the Americas with coastal defences, such as sea walls, beach nourishment, and barrier islands. In the riparian zone near rivers and streams, erosion control measures can be taken to try and slow down or reverse the natural forces that cause many waterways to meander over long periods of time. Flood controls, such as dams, can be built and maintained over time to try and reduce the occurrence and severity of floods as well. In the USA, the U.S. Army Corps of Engineers maintains a network of such flood control dams. In areas prone to urban flooding, one solution is the repair and expansion of man-made sewer systems and stormwater infrastructure. Another strategy is to reduce impervious surfaces in streets, parking lots and buildings through natural drainage channels, porous paving, and wetlands (collectively known as green infrastructure or sustainable urban drainage systems [SUDS]). Areas identified as flood-prone can be converted into parks and playgrounds that can tolerate occasional flooding. Ordinances can be adopted to require developers to retain stormwater on site and require buildings to be elevated, protected by floodwalls and levees, or designed to withstand temporary inundation. Property owners can also invest in solutions themselves, such as re-landscaping their property to take the flow of water away from their building and installing rain barrels, sump pumps, and check valves.

Benefits
Floods (in particular more frequent or smaller floods) can also bring many benefits, such as recharging ground water, making soil more fertile and increasing nutrients in some soils. Flood waters provide much needed water resources in arid and semi-arid regions where precipitation can be very unevenly distributed throughout the year. Freshwater floods particularly play an important role in maintaining ecosystems in river corridors and are a key factor in maintaining floodplain biodiversity.[14] Flooding can spread nutrients to lakes and rivers, which can lead to increased biomass and improved fisheries for a few years. For some fish species, an inundated floodplain may form a highly suitable location for spawning with few predators and enhanced levels of nutrients or food.[15] Fish, such as the weather fish, make use of floods in order to reach new habitats. Bird populations may also profit from the boost in food production caused by flooding.[16] Periodic flooding was essential to the well-being of ancient communities along the TigrisEuphrates Rivers, the Nile River, the Indus River, the Ganges and the Yellow River among others. The viability of hydropower, a renewable source of energy, is also higher in flood prone regions.

Computer modelling
While flood computer modelling is a fairly recent practice, attempts to understand and manage the mechanisms at work in floodplains have been made for at least six millennia.[17] Recent developments in computational flood modelling have enabled engineers to step away from the tried and tested "hold or break" approach and its tendency to promote overly engineered structures. Various computational flood models have been developed in recent years; either 1D models (flood levels measured in the channel) or 2D models (variable flood depths measured across the extent of a floodplain). HEC-RAS,[18] the Hydraulic Engineering Centre model, is currently among the most popular computer models, if only because it is available free of charge. Other models such as TUFLOW[19] combine 1D and 2D components to derive flood depths across both river channels and the entire floodplain. To date, the focus of computer modelling has primarily been on mapping tidal and fluvial flood events, but the 2007 flood events in the UK have shifted the emphasis there onto the impact of surface water flooding. In the United States, an integrated approach to real-time hydrologic computer modelling utilizes observed data from the U.S. Geological Survey (USGS),[21] various cooperative observing networks,[22] various automated weather sensors, the NOAA National Operational Hydrologic Remote Sensing Center (NOHRSC),[23] various hydroelectric companies, etc. combined with quantitative precipitation forecasts (QPF) of expected rainfall and/or snow melt to generate daily or as-needed hydrologic forecasts.[24] The NWS also cooperates with Environment Canada on hydrologic forecasts that affect both the USA and Canada, like in the area of the Saint Lawrence Seaway.

Museum
A museum is an institution that cares for (conserves) a collection of artifacts and other objects of scientific, artistic, cultural, or historical importance and makes them available for public viewing through exhibits that may be permanent or temporary.[1] Most large museums are located in major cities throughout the world and more local ones exist in smaller cities, towns and even the countryside. Museums have varying aims, ranging from serving researchers and specialists to serving the general public. The continuing acceleration in the digitization of information, combined with the increasing capacity of digital information storage, is causing the traditional model of museums (i.e. as static collections of collections of three-dimensional specimens and artifacts) to expand to include virtual exhibits and high-resolution images of their collections for perusal, study, and exploration from any place with Internet.[citation needed] The city with the largest number of museums is Mexico City with over 128 museums. According to The World Museum Community, there are more than 55,000 museums in 202 countries.[2]

Etymology
The English "museum" comes from the Latin word, and is pluralized as "museums" (or rarely, "musea"). It is originally from the Greek (Mouseion), which denotes a place or temple dedicated to the Muses (the patron divinities in Greek mythology of the arts), and hence a building set apart for study and the arts,[3] especially the Musaeum (institute) for philosophy and research at Alexandria by Ptolemy I Soter about 280 BCE.[4] The first museum/library is considered to be the one of Plato in Athens.[5] However, Pausanias gives another place called "Museum," namely a small hill in Classical Athens opposite the Akropolis. The hill was called Mouseion after Mousaious, a man who used to sing on the hill and died there of old age and was subsequently buried there as well.[6]

Purpose
Museum purposes vary from institution to institution. Some favor education over conservation, or vice versa. For example, in the 1970s, the Canada Science and Technology Museum favored education over preservation of their objects. They displayed objects as well as their functions. One exhibit featured a historic printing press that a staff member used for visitors to create museum memorabilia.[7] Some seek to reach a wide audience, such as a national or state museum, while some museums have specific audiences, like the LDS Church History Museum or local history organizations. Generally speaking, museums collect objects of significance that comply with their mission statement for conservation and display. Although most museums do not allow physical contact with the associated artifacts, there are some that are interactive and encourage a more hands-on approach. In 2009, Hampton Court Palace, palace of Henry VIII, opened the council room to the general public to create an interactive environment for visitors. Rather than allowing visitors to handle 500 year old objects, the museum created replicas, as well as replica costumes. The daily activities, historic clothing, and even temperature changes immerse the visitor in a slice of what Tudor life may have been.[8]

History
The museum of ancient times, such as the Musaeum of Alexandria, would be equivalent to a modern graduate institute.

Early museums

Early museums began as the private collections of wealthy individuals, families or institutions of art and rare or curious natural objects and artifacts. These were often displayed in so-called wonder rooms or cabinets of curiosities. Public access was often possible for the "respectable", especially to private art collections, but at the whim of the owner and his staff. The oldest such museum in evidence was Ennigaldi-Nanna's museum, dating from c. 530 BC and devoted to Mesopotamian antiquities; it apparently had sufficient traffic as to warrant labels for the ordered collection, although there is no source for this information. The oldest public museums in the world opened in Rome during the Renaissance. However, many significant museums in the world were not founded until the 18th century and the Age of Enlightenment:

the Capitoline Museums, the oldest public collection of art in the world, began in 1471 when Pope Sixtus IV donated a group of important ancient sculptures to the people of Rome. the Vatican Museums, the second oldest museum in the world, traces its origins to the public displayed sculptural collection begun in 1506 by Pope Julius II the Royal Armouries in the Tower of London is the oldest museum in the United Kingdom. It opened to the public in 1660, though there had been paying privileged visitors to the armouries displays from 1592. Today the museum has three sites including its new headquarters in Leeds.[9] Rumphius built a botanical museum in Ambon in 1662, making it the oldest recorded museum in Indonesia. Nothing remains of it except books written by himself, which are now in the library of the National Museum. Its successor was the Batavia Society of Art and Science, established on 24 April 1778. It built a museum and a library, played an important role in research, and collected much material on the natural history and culture of Indonesia.[10] the Amerbach Cabinet, originally a private collection, was bought by the university and city of Basel in 1661 and opened to the public in 1671. the Muse des Beaux-Arts et d'archologie in Besanon was established in 1694 after JeanBaptiste Boisot, an abbot, gave his personal collection to the Benedictines of the city in order to create a museum open to the public two days every week.[11] the Kunstkamera in St. Petersburg was founded in 1717 in Kikin Hall and officially opened to the public in 1727 in the Old St. Petersburg Academy of Science Building the British Museum in London, was founded in 1753 and opened to the public in 1759.[12] Sir Hans Sloane's personal collection of curios provided the initial foundation for the British Museum's collection.[12] the Uffizi Gallery in Florence, which had been open to visitors on request since the 16th century, was officially opened to the public 1765[citation needed] the Hermitage Museum was founded in 1764 by Catherine the Great and has been open to the public since 1852. the Belvedere Palace of the Habsburg monarchs in Vienna opened with a collection of art in 1781[citation needed] the Louvre Museum in Paris (France), also a former royal palace, opened to the public in 1793 The Charleston Museum was established in 1773 thereby making it the first American museum. It did not open to the public until 1824.[13] Indian Museum, Kolkata, established in 1814 is the oldest museum in India. It has a collection of 1,02,646 artifacts.[14]

Modern museums

The first "public" museums were often accessible only by the middle and upper classes. It could be difficult to gain entrance. In London for example, prospective visitors to the British Museum had to apply in writing for admission. Even by 1800 it was possible to have to wait two weeks for an admission ticket.[citation needed] Visitors in small groups were limited to stays of two hours.[citation needed] In Victorian times in England it became popular for museums to be open on a Sunday afternoon (the only such facility allowed to do so) to enable the opportunity for "selfimprovement" of the other - working - classes.[citation needed] The Ashmolean museum, however, founded in 1677 from the personal collection of Elias Ashmole, was set up in the University of Oxford to be open to the public and is considered by some to be the first modern public museum.[15] The collection included that of Elias Ashmole which he had collected himself, including objects he had acquired from the gardeners, travellers and collectors John Tradescant the elder and his son of the same name. The collection included antique coins, books, engravings, geological specimens, and zoological specimensone of which was the stuffed body of the last dodo ever seen in Europe; but by 1755 the stuffed dodo was so moth-eaten that it was destroyed, except for its head and one claw. The museum opened on 24 May 1683, with naturalist Robert Plot as the first keeper. The first building, which became known as the Old Ashmolean, is sometimes attributed to Sir Christopher Wren or Thomas Wood.[16] In France, the first public museum was the Louvre Museum in Paris,[citation needed] opened in 1793 during the French Revolution, which enabled for the first time free access to the former French royal collections for people of all stations and status. The fabulous art treasures collected by the French monarchy over centuries were accessible to the public three days each "dcade" (the 10day unit which had replaced the week in the French Republican Calendar). The Conservatoire du musum national des Arts (National Museum of Arts's Conservatory) was charged with organizing the Louvre as a national public museum and the centerpiece of a planned national museum system. As Napolon I conquered the great cities of Europe, confiscating art objects as he went, the collections grew and the organizational task became more and more complicated. After Napoleon was defeated in 1815, many of the treasures he had amassed were gradually returned to their owners (and many were not). His plan was never fully realized, but his concept of a museum as an agent of nationalistic fervor had a profound influence throughout Europe. American museums eventually joined European museums as the world's leading centers for the production of new knowledge in their fields of interest. A period of intense museum building, in both an intellectual and physical sense was realized in the late 19th and early 20th centuries (this is often called "The Museum Period" or "The Museum Age"). While many American museums, both Natural History museums and Art museums alike, were founded with the intention of focusing on the scientific discoveries and artistic developments in North America, many moved to emulate their European counterparts in certain ways (including the development of Classical collections from ancient Egypt, Greece, Mesopotamia and Rome). Drawing on Michel Foucaults concept of liberal government, Tony Bennett has suggested the development of more modern 19th century museums was part of new strategies by Western governments to produce a citizenry that, rather than be directed by coercive or external forces, monitored and regulated its own conduct. To incorporate the masses in this strategy, the private space of museums that previously had been restricted and socially exclusive were made public. As such, objects and

artifacts, particularly those related to high culture, became instruments for these "new tasks of social management."[17] Universities became the primary centers for innovative research in the United States well before the start of the Second World War. Nevertheless, museums to this day contribute new knowledge to their fields and continue to build collections that are useful for both research and display.

Management
The roles associated with the management a museum largely depends on the size of the institution, but every museum has a hierarchy of governance with a Board of Trustees serving at the top. The Director is next in command and works with the Board to establish and fulfill the museums mission statement and to ensure that the museum is accountable to the public.[18] Together, the Board and the Director establish a good system of governance that is guided by various other documents such as an institutional or strategic plan, institutional code of ethics, bylaws, and collections policy. The American Alliance of Museums (AAM) has also formulated a series of standards and best practices that help guide the management of museums. Unfortunately, many small, local museums lack this guidance since accreditation with AAM requires a museum to operate on an annual budget of at least $25,000.[19] A change in leadership may ultimately effect changes at the museum, as new directors commonly have new ideas for the institution they work for. While change and growth is often good for a museum, they should not reach outside the original mission statement of the institution. According to museum professionals Hugh H. Genoways and Lynne M. Ireland, Administration of the organization requires skill in conflict management, interpersonal relations, budget management and monitoring, and staff supervision and evaluation. Managers must also set legal and ethical standards and maintain involvement in the museum profession.[20] Various positions within the museum carry out the policies established by the Board and the Director. These positions include but are not limited to curators, collections managers/registrars, public programmers/educators, exhibition designers, and building operators. These positions and all other employees should work together toward the museums institutional goal.

Curator research the collection and most often write the text labels for exhibitions. In larger institutions, there may be a curator assigned to each collection of objects the museum holds. Ex: Curator of Modern Art, Curator of Natural History, Curator of Furniture, etc. Collections Management/Registrar responsible for the care and maintenance of all objects in the museums collection, tracks movement of objects in and out of the museum on loan or on exhibition, records information about objects in databases-such as an object's provenance. Registrars oversee the accessioning process, which formally accepts objects into the museum's collection with an accession number and detailed record. Collections Managers and Registrars uphold the Collections Policy, which guides what is and is not accepted into the museum collection. Public Programmer/Educator creates programs for the public and designs interactives for exhibitions. This position also oversees volunteers and docents at the museum. Depending on

the institution, educators may also research the collections and write text for exhibitions. Educators work with the Board, Director, and Curator to ensure that the needs of the public are met as laid out in the institutions mission statement.

Exhibition Designer designs and installs the exhibition under the supervision of the curator and collections manager. They have the vital role of creating exhibition space that is navigable by the visitor. Building Operators oversee security and maintenance of the museum. In larger museums, building operators will work with Collections Managers to maintain appropriate levels of temperature and humidity which can affect the stability of the objects.[21]

Exhibition histories
An exhibition history is a listing of exhibitions for an institution, artist or a work of art. Exhibition histories generally include the name of the host institution, the title of the exhibition and the opening and closing dates of the exhibition. The following is a list of major institutions that have complete or substantial exhibition histories that are available online.

Amon Carter Museum, Fort Worth, Texas (1961present) [1] Brooklyn Museum (1846present) [2] The Art Institute of Chicago (1883present) [3] The Cleveland Museum of Art (1916present) [4] Contemporary Arts Museum Houston (1948present) [5] Corcoran Gallery of Art, Washington DC (1901present) [6] Dahesh Museum of Art, New York (1995present) [7] Dallas Museum of Art (1903present) [8] The Field Museum, Chicago, Illinois (1930present) [9] The Museum of Contemporary Art, Los Angeles (1984present) [10] The Museum of Modern Art, New York (1929present) [11] National Gallery of Art, Washington DC (1941present) [12]

Museum planning
The design of museums has evolved throughout history. Interpretive museums, as opposed to art museums, have missions reflecting curatorial guidance through the subject matter which now include content in the form of images, audio and visual effects, and interactive exhibits. Museum creation begins with a museum plan, created through a museum planning process. The process involves identifying the museum's vision and the resources, organization and experiences needed to realize this vision. A feasibility study, analysis of comparable facilities, and an interpretive plan are all developed as part of the museum planning process. Some museum experiences have very few or no artifacts and do not necessarily call themselves museums; the Griffith Observatory in Los Angeles and the National Constitution Center in Philadelphia, being notable examples where there are few artifacts, but strong, memorable stories

are told or information is interpreted. In contrast, the United States Holocaust Memorial Museum in Washington, D.C. uses many artifacts in their memorable exhibitions.

Exhibition design
Main article: Exhibit design

Most mid-size and large museums employ exhibit design staff for graphic and environmental design projects, including exhibitions. In addition to traditional 2-D and 3-D designers and architects, these staff departments may include audio-visual specialists, software designers, audience research and evaluation specialists, writers, editors, and preparators or art handlers. These staff specialists may also be charged with supervising contract design or production services. The exhibit design process builds on the interpretive plan for an exhibit, determining the most effective, engaging and appropriate methods of communicating a message or telling a story. The process will often mirror the architectural process or schedule, moving from conceptual plan, through schematic design, design development, contract document, fabrication and installation. Museums of all sizes may also contract the outside services of exhibit fabrication businesses. Exhibition design has as multitude of strategies, theories, and methods but two that embody much of the theory and dialogue surrounding exhibition design are the metonymy technique and the use of authentic artifacts to provide the historical narrative. Metonymy, or "the substitution of the name of an attribute or adjunct for that of the thing meant,"[22] is a technique used by many museums but few as heavily and as influentially as Holocaust museums. The United States Holocaust Memorial Museum in Washington D.C., for example, employs this technique in its shoe exhibition. Simply a pile of decaying leather shoes piled against a bare, gray concrete wall the exhibit relies heavily on the emotional, sensory response the viewer will naturally through this use metonymic technique. This exhibition design intentionally signifies metonymically the nameless and victims themselves. This metaphysical link to the victims through the deteriorating and aged shoes stands as a surviving vestige of the individual victim. This technique, employed properly, can be a very powerful one as it plays off the real life experiences of the viewer while evoking the equally unique memory of the victim. Metonymy, however, Jennifer Hansen-Glucklich argues, is not without its own problems. Hansen-Glucklich explains, "...when victims possessions are collected according to type and displayed en masse they stand metonymically for the victims themselves ... Such a use of metonymy contributes to the dehumanization of the victims as they are reduced to a heap of indistinguishable objects and their individuality subsumed by an aesthetic of anonymity and excess."[23] While a powerful technique Hansen-Glucklick points out that when used en masse the metonym suffers as the memory and suffering of the individual is lost in the chorus of the whole. While at times juxtaposed, the alternative technique of the use of authentic objects is seen the same exhibit mentioned above. The use of authentic artifacts is employed by most, if not all, museums but the degree to which and the intention can vary greatly. The basic idea behind exhibiting authentic artifacts is to provide not only legitimacy to the exhibit's historical narrative but, at times, to help create the narrative as well. The theory behind this technique is to exhibit artifacts in a neutral manner to orchestrate and narrate the historic narrative through, ideally, the provenance of the artifacts themselves.

While albeit necessary to most some degree in any museum repertoire, the use of authentic artifacts can not only be misleading but as equally problematic as the aforementioned metonymic technique. Hansen-Glucklick explains, "The danger of such a strategy lies in the fact that by claiming to offer the remnants of the past to the spectator, the museum creates the illusion of standing before a complete picture. The suggestion is that if enough details and fragments are collected and displayed, a coherent and total truth concerning the past will emerge, visible and comprehensible. The museum attempts, in other words, to archive the unachievable."[23] While any exhibit benefits from the legitimacy given by authentic objects or artifacts the temptation must be protected against in order to avoid relying solely on the artifacts themselves. A well designed exhibition should employ objects and artifacts as a foundation to the narrative but not as a crutch; a lesson any conscientious curator would be well to keep in mind.

Types
Types of museums vary, from large institutions, covering many of the categories below, to very small institutions focusing on a specific subject, location, or a notable person. Categories include: fine arts, applied arts, craft, archaeology, anthropology and ethnology, biography, history, cultural history, science, technology, children's museums, natural history, botanical and zoological gardens. Within these categories many museums specialize further, e.g. museums of modern art, folk art, local history, military history, aviation history, philately, agriculture or geology. Another type of museum is an encyclopedic museum. Commonly referred to as a universal museum, encyclopedic museums have collections representative of the world and typically include art, science, history, and cultural history. The type and size of a museum is reflected in its collection. A museum normally houses a core collection of important selected objects in its field.
Archaeology museums

Archaeology museums specialize in the display of archaeological artifacts. Many are in the open air, such as the Agora of Athens and the Roman Forum. Others display artifacts found in archaeological sites inside buildings. Some, such as the Western Australian Museum, exhibit maritime archaeological materials. These appear in its Shipwreck Galleries, a wing of the Maritime Museum. This Museum has also developed a 'museum-without-walls' through a series of underwater wreck trails.
Art museums

An art museum, also known as an art gallery, is a space for the exhibition of art, usually in the form of art objects from the visual arts, primarily paintings, illustrations, and sculpture. Collections of drawings and old master prints are often not displayed on the walls, but kept in a print room. There may be collections of applied art, including ceramics, metalwork, furniture, artist's books and other types of object. Video art is often screened. The first publicly owned museum in Europe was the Amerbach-Cabinet in Basel, originally a private collection sold to the city in 1661 and public since 1671 (now Kunstmuseum Basel).[24] The Ashmolean Museum in Oxford opened on 24 May 1683 as the world's first university art museum. Its first building was built in 16781683 to house the cabinet of curiosities Elias Ashmole gave Oxford University in 1677. The Uffizi Gallery in Florence was initially conceived

as offices for the Florentine civil service (hence the name), but evolved into a display place for many of the paintings and sculpture collected by the Medici family or commissioned by them. After the house of Medici was extinguished, the art treasures remained in Florence, forming one of the first modern museums. The gallery had been open to visitors by request since the sixteenth century, and in 1765 it was officially opened to the public. Another early public museum was the British Museum in London, which opened to the public in 1759.[12] It was a "universal museum" with very varied collections covering art, applied art, archaeology, anthropology, history, and science, and what is now the British Library. The science collections, library, paintings and modern sculpture have since been found separate homes, leaving history, archaeology, nonEuropean and pre-Renaissance art, and prints and drawings. The specialised art museum is considered a fairly modern invention, the first being the Hermitage in Saint Petersburg which was established in 1764.[citation needed] The Louvre in Paris was established in 1793, soon after the French Revolution when the royal treasures were declared for the people.[25] The Czartoryski Museum in Krakw was established in 1796 by Princess Izabela Czartoryska.[26] This showed the beginnings of removing art collections from the private domain of aristocracy and the wealthy into the public sphere, where they were seen as sites for educating the masses in taste and cultural refinement.
Biographical museums For a more comprehensive list, see Category: Biographical museums.

Biographical museums are dedicated to items relating to the life of a single person or group of people, and may also display the items collected by their subjects during their lifetimes. Some biographical museums are located in a house or other site associated with the lives of their subjects (e.g. Sagamore Hill (house) which contains the Theodore Roosevelt Museum), while others, such as many presidential libraries, are housed in specially constructed buildings.
Children's museums

Children's museums are institutions that provide exhibits and programs to stimulate informal learning experiences for children. In contrast with traditional museums that typically have a hands-off policy regarding exhibits, children's museums feature interactive exhibits that are designed to be manipulated by children. The theory behind such exhibits is that activity can be as educational as instruction, especially in early childhood. Most children's museums are nonprofit organizations, and many are run by volunteers or by very small professional staffs.[28] International professional organizations of children's museums include the Association of Children's Museums (ACM), which was formed in 1962 as the American Association of Youth Museums (AAYM) and in 2007 counted 341 member institutions in 23 countries,[28] and The Hands On! Europe Association of Children's Museum (HO!E), established in 1994, with member institutions in 34 countries as of 2007.[29] Many museums that are members of ACM offer reciprocal memberships, allowing members of one museum to visit all the others for free.

Encyclopedic museums

Encyclopedic museums are large, mostly national, institutions that offer visitors a plethora of information on a variety of subjects that tell both local and global stories. "With 3% of the world's population, or nearly 200 million people, live outside the country of their birth, encyclopedic museums play an especially important role in the building of civil society. They encourage curiosity about the world."[30] James Cuno, President and CEO of the J. Paul Getty Trust, along with Neil MacGregor, Director of the British Museum, are two of the most outspoken museum professionals who support encyclopedic museums. Encyclopedic museums have advantages; however, some scholars and archaeologists argue against encyclopedic museums because they remove cultural objects from their original cultural setting, losing their context.[31]

References Notes
1. Jump up ^ Edward Porter Alexander, Mary Alexander; Alexander, Mary; Alexander, Edward Porter (2007-09). Museums in motion: an introduction to the history and functions of museums. Rowman & Littlefield, 2008. ISBN 978-0-7591-0509-6. Retrieved 2009-10-06. 2. Jump up ^ Frequently Asked Questions - The World Museum Community 3. Jump up ^ Findlen, Paula (1989). "The Museum: its classical etymology and renaissance genealogy". Journal of the History of Collections 1 (1): 5978. doi:10.1093/jhc/1.1.59. Retrieved 2008-04-05. 4. Jump up ^ "Ptolemy I Soter, The First King of Ancient Egypt's Ptolemaic Dynasty". Tour Egypt. Retrieved 2008-04-05. 5. Jump up ^ Mouseion, def. 3, Henry George Liddell, Robert Scott, A Greek-English Lexicon, at Perseus 6. Jump up ^ Peter Levi, Pausanias Guide to Greece 1: Central Greece, p. 72-73 (Paus. 1.25.2) 7. Jump up ^ Babian, Sharon, CSTM: A History of the Canada Science and Technology Museum, pp. 42-45 8. Jump up ^ Lipschomb, Suzannah, "Historical Authenticity and Interpretive Strategy at Hampton Court Palace," The Public Historian 32, no.3, August 2010, pp. 98-119. 9. Jump up ^ "Royal Armouries Museum". Royalarmouries.org. 1940-12-29. Retrieved 2011-01-06. 10. Jump up ^ Cultural Policy in Indonesia. Paris: UNESCO. 1973. pp. 2933. Retrieved February 17, 2013. 11. Jump up ^ http://www.musee-arts-besancon.org/pages.php?idMenu=1&idPage=0&langue=1 12. ^ Jump up to: a b c "The history of the British Museum". British Museum. Retrieved 2008-04-05. 13. Jump up ^ http://www.charlestonmuseum.org/about 14. Jump up ^ Comptroller & Auditor General of India report No. 4 of 2005 (Civil) of Chapter III: Ministry of Culture, p: 31 15. Jump up ^ Swann, Marjorie (2001), Curiosities and Texts: The Culture of Collecting in Early Modern England, Philadelphia: University of Pennsylvania Press 16. Jump up ^ H. E. Salter and Mary D. Lobel (editors) Victoria County History A History of the County of Oxford: Volume 3 1954 Pages 4749 17. Jump up ^ Tony Bennett, The Birth of the Museum (New York: Routledge Press, 1995), 6, 8, 24. 18. Jump up ^ American Association of Museums, The Accreditation Commissions Expectations Regarding Governance. http://www.aam-us.org/aboutmuseums/standards/stbp.cfm pg 1. 19. Jump up ^ Amy Levin,Defining Memory (New York: AltaMira Press, 2007), 10. 20. Jump up ^ Hugh H. Genoways and Lynne M. Ireland, Museum Administration: An Introduction, (Lanham: AltaMira, 2003), 3.