1624 – Monson’s Tracts Describe Basic Asset Management
In 1585 at the age of 16, William Monson ran away to sea as a privateer. Later, in the English Navy, he served during the defeat of the Spanish Armada. He was a ship captain, squadron commander, admiral, and eventually a member of parliament. Wikipedia quotes the 1911 Encyclopedia Britannica in calling him the “first naval officer in the modern sense of the word.” Monson is most famous as an early historian of the Royal Navy.
Monson’s Tracts are a collection of essays written between 1624 and his death in 1643. The essays were not printed until 1682 and were finally published in 1704. The Tracts contain detailed accounts of the Royal Navy’s battles, tactics, voyages, and expeditions.
Monson’s Tracts also recorded the management structure of the dockyards, duties of specific positions, and some repair management practices of the late 1620s to 1630s. Monson criticized graft, waste, and bad management that reduced the navy’s capabilities.
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