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NEW COUNCIL The Council for the year 1948/49 is as follows:

THE method given in “The Stressing of Rigid‐Jointed Frames” published in the Journal of the Royal Aeronautical Society for June, 1936, may be applied to the case of frames embodying initially curved members, as for example, monocoque rings.

THE importance of achieving a low structural weight is illustrated by simple estimates of the large decreases in aircraft gross weight and size made possible by conscientious weight saving in structural design. A brief review is then made of the many variables in aircraft design which affect the weight of the structure. The review is made chiefly to emphasize the close interplay in project work between the structural and aerodynamic effects of changes of layout. Finally some remarks are made about comparative structural design efficiency. It is concluded that good weight prediction formulae are at present the best means by which the structural design efficiencies of different aircraft may be readily compared.

THE following list of contracts placed by the Air Ministry during March is extracted from the April issue of The Ministry of Labour Gazette:—

Kite Balloons and Kites 247. Two models of Caquot kite‐balloons. Tests on. Nov. 1916. (3d.).

1.1. Logical Necessity of the Three Dimensions as a Unit of Thought The mathematician does not look kindly on the simple question of why natural space should consist of precisely three dimensions. Instead of giving an answer he assumes a silent smile and shows us a version of space with an infinity of dimensions, as if space were some kind of toy for him to fiddle with to his heart's content.

This paper aims to examine how a central bank (CB) can act as a lender of last resort (LOLR) for both Islamic and conventional interest-based banks by pursuing a Qard-al-Hasan (QH)-based monetary policy (MP).

The role of the CB as LOLR under QH-based MP and its effects on major macroeconomic variables, including deposits, loan creation and aggregate expenditures, are examined on theoretical grounds by using the aggregate output and aggregate expenditure model under the framework of Islamic MP.

When the CB acts as LOLR by pursuing QH-based MP, it automatically empowers Islamic banks (IBs) by providing access to borrowing funds from the CB on a QH basis. As a result, IBs will not be required to hold billions of dollars as liquid assets against liquidity risks. Thus, the lending capacity of IBs will increase and deposit expansion, loan creation and aggregate expenditures in the economy will all expand. This will in turn increase real GDP and employment while reducing the unemployment rate.

This is the first paper to analyze CBs acting as LOLR for both IBs and conventional interest-based banks by pursuing a QH-based MP, thus providing equal opportunities and equal access to borrowing facilities from the CB, along with equal partnership and fair competition for all and absolutely no discrimination to anyone. The LOLR service to all banks under QH-based MP will unveil a new horizon of opportunities where all financial institutions are expected to thrive. IBs will escape the constraints of the constant fear of liquidity risks and find a level-playing field.

THE originality of the Escher Wyss airscrew, which has been adopted by the Swiss Air Force, is based on the fact that its conception has, since its inception, taken into account all the requirements of a modern variable pitch airscrew. These conditions may be summarized as follows, that the airscrew must normally ensure automatic control at constant engine speed, adapting itself to every condition of flight, and that it should provide, when required, for operation as an aerodynamic brake, and be capable of being moved to the fully feathered position. The essentially mechanical problems, such as the anchorage of the blades in the hub and the design of the pitch control mechanism, must naturally find correct solutions to ensure reliability, together with that simplicity of control which is an essential property of all modern aircraft components.

THE medical problems of flying were first seriously tackled during the latter part of the first world war, when it became obvious that mechanical construction was indivisible with pilot performance. Research has since proceeded along two main lines: pre‐selection of personnel for flying duties and the maintenance of the physiological efficiency of flying personnel. There is no doubt that the work accomplished is proving invaluable in these times of extended air force expansion and added interest is therefore given to the report of the symposium held at Washington D.C., at which Air‐Commodore H. E. Whittingham represented Great Britain.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).