Can't Set The Table Option

I've use the command CREATE TABLE as follow:

CREATE TABLE test(myid varchar(20)) DEFAULT CHARSET=latin1

and

CREATE TABLE test(myid varchar(20)) DEFAULT CHARACTER SET latin1

I've got an error message with the 2 commands above saying that I've used the wrong syntax near the "DEFAULT CHARSET=latin1" clause. I've read the MySQL Document and figured out those commands have the right syntax, not wrong.

Could anyone please tell me how to create a table with DEFAULT CHARSET=latin1.
( I have use MySQl ver 4.0 ).