Month: January 2018

Categories
Curriculum Harvard Undergraduate

Harvard. Undergraduate Fields of Distribution. Economics Second, 1920

 

 

Economics served as a pioneer for the introduction of the division examination in a major field as a degree requirement. It is interesting to note that this additional requirement appears to have reduced the number of economics majors. “Beginning in 1914, all students “concentrating” in the division of history, government, and economics, have been obliged to take a general examination in their senior year. This requirement has been confined to that division, and has doubtless had the effect of turning away many men who otherwise would “concentrate” in economics.”

____________________

FIELDS OF “CONCENTRATION”

More students in Harvard College are specializing in English literature this year than in any other subject. Economics ranks second; and chemistry, third. Every student is now required to take during his four years in College at least six courses in some one field of study. Three hundred sixty-two men have chosen English literature as their field of “concentration”; 314, economics; 200, chemistry; 178, romance languages; 126, history; 87, government; and 63, mathematics.

In 1914 more students “concentrated” in economics than in any other subject; and English literature ranked second. In that year nearly four men were specializing in economics for every three in English. But since that time English has taken the lead. Beginning in 1914, all students “concentrating” in the division of history, government, and economics, have been obliged to take a general examination in their senior year. This requirement has been confined to that division, and has doubtless had the effect of turning away many men who otherwise would “concentrate” in economics.

Beginning with the class of 1922, however, the general examination, will be required of practically every student in Harvard College; and those who specialize in English and other subjects will be subject to a test similar to that which has been in force in the economics group for four years. There are already signs of a drift back to economics, though English is still in the lead.

Other changes in the past few years have been a decline in the number of men specializing in German, an increase in those specializing in Romance Languages, and an increase in the popularity of chemistry.

The figures for this year are as follows:

SUBJECT NUMBER OF MEN CONCENTRATING IN IT.
English

362
Economics

314
Chemistry

200
Romance Languages

178
History

126
Government

87
Mathematics

63
Engineering Sciences

53*
Geology

33
History and Literature

31
Biology

30
Classics

29
Fine Arts

29
Philosophy and Psychology

29
Physics

16
German

14
Music

10
Other Subjects

17

*This figure does not represent the entire enrollment in engineering, for most men whose tastes and abilities lie in this direction are registered in the Harvard Engineering School rather than in Harvard College.

 

Source:     Harvard Alumni Bulletin,   Vol. XXIII, No. 12 (December 16, 1920), p. 276.

 

Categories
Policy

Policy Debates. 109 book titles and links from the “Questions of the Day” series 1880-1910

 

The line between economics as a science and economics as a policy art is extremely fuzzy. Once we venture anywhere near popular economics or economic policy debates, we find ourselves confronting the complaint of  the great comedian, Jimmy Durante, “Everybody wants to get into the act.”  I saw that a few of the books on tariff policy by Harvard economist, Frank W. Taussig, were published in the P. Putnam’s Sons series “Questions of the Day” and was curious what other books were published in that series. 

Below I provide links to about one hundred titles published between 1880 and 1910 in the series “Questions of the Day”.

_______________________

QUESTIONS OF THE DAY.
P. PUTNAM’S SONS, Publishers, New York and London.

1 — The Independent Movement in New York, as an Element in the next Elections and a Problem in Party Government. By Junius [Eaton, Dorman Bridgman]. 1880. https://archive.org/details/independentmovem00eatouoft

2 — Free Land and Free Trade. The Lessons of the English Corn-Laws Applied to the United States. By Samuel S. Cox. 1880. https://archive.org/details/freelandandfree00coxgoog

3 — Our Merchant Marine. How it rose, increased, became great, declined, and decayed; with an inquiry into the conditions essential to its resuscitation and prosperity. By David A. Wells. 1890. https://archive.org/details/ourmerchantmari00unkngoog

4 — The Elective Franchise in the United States; A Review of the Effects of the Caucus System upon the Civil Service and upon the Principles and Policies of Political Parties. By Duncan Cameron McMillan. 1880. https://archive.org/details/electivefranchi00mcmi

5 — The American Citizen’s Manual Part I. Edited by Worthington C. Ford. — Governments (National, State, and Local), the Electorate, and the Civil Service. 1882. https://archive.org/details/americancitizens01ford

6 — The American Citizen’s Manual. Part II. — The Functions of Government, considered with special reference to taxation and expenditure, the regulation of commerce and industry, provision for the poor and insane, the management of the public lands, etc. 1883. https://archive.org/details/americancitizen00fordgoog [1887 two parts in one: https://archive.org/details/americancitizens00ford]

7 — Spoiling the Egyptians. A Tale of Shame. Told from the British Blue-Books. By J. Seymour Keay. [Original, 1882]. https://archive.org/details/spoilingegyptia00keaygoog]

8 — The Taxation of the Elevated Railroads in the City of New York. By Roger Foster.

9 — The Destructive Influence of the Tariff upon Manufacture and Commerce, and the Facts and Figures Relating Thereto (Second Edition) By J. Schoenhof. https://archive.org/details/destructiveinflu00schouoft

10 — Of Work and Wealth. A Summary of Economics. By R. R. Bowker. 1883. https://archive.org/details/ofworkwealthsumm00bowk

11 — Protection to Young Industries as Applied in the United States. A Study in Economic History. By F. W. Taussig. 1884. https://archive.org/details/cu31924026430995

12 — Terminal Facilities. By W. N. Black.

13 — Public Relief and Private Charity. By Josephine Shaw Lowell. 1884. https://archive.org/details/publicreliefpriv00loweuoft

14 — “The Jukes.” A Study in Crime, Pauperism, Disease, and Heredity (Fourth Edition). By R. L. Dugdale. 1888. https://archive.org/details/thejukesstudyin00dugd

15 — Protection and Communism; A Consideration of the Effects of the American Tariff upon Wages. By William Rathbone. 1884. https://archive.org/details/protectioncommun00rath

16 — The True Issue; Industrial Depression and Political Corruption Caused by Tariff Monopolies; Reform Demanded in the Interest of Manufacturers, Farmers and Workingmen. By E. J. Donnell. 1884. https://archive.org/details/cu31924013819853

17 — Heavy Ordnance for National Defence. By Wm. H. Jaques, Lieut. U. S. Navy. 1885. https://archive.org/details/heavyordnancefor00jaquuoft

18 — The Spanish Treaty Opposed to Tariff Reform. By D. H. Chamberlain, Jno. Dewitt Warner, Graham McAdam, and J. Schoenhof. 1885. https://hdl.handle.net/2027/hvd.hnf2jn

19 — The History of the Present Tariff, 1860-1883. By Frank W. Taussig. 1885. https://archive.org/details/historyofpresent00tausrich

20 — The Progress of the Working Classes in the Last Half Century. By Robert Giffen. 1884. https://archive.org/details/theprogressofwor00giff

21 — A Solution of the Mormon Problem. By Capt. John Codman. 1885.

22 — Defective and Corrupt Legislation; the Cause and the Remedy. By Simon Sterne. 1885. https://archive.org/details/defectiveandcor00stergoog

23 — Social Economy. By J. E. Thorold Rogers. 1885. https://archive.org/details/socialeconomy01roge

24 — The History of the Surplus Revenue of 1837 being an Account of its Origin, its Distribution among the States, and the Uses to which it was Applied. By Edward G. Bourne. 1885. https://archive.org/details/cu31924032544755

25 — The American Caucus System; Its Origin, Purpose and Utility. By George W. Lawton. 1885. https://archive.org/details/americancaucussy00lawtuoft

26 — The Science of Business; A Study of the Principles Controlling the Laws of Exchange. By Roderick H. Smith. 1885. https://archive.org/details/cu31924030151660

27 — The Evolution of Revelation; A Critique of Opinions concerning the Old Testament. By James Morris Whiton, Ph.D. 1885.

28 — The Postulates of English Political Economy. By Walter Bagehot. 1885. https://archive.org/details/postulatesofeng00bage

29 — Lincoln and Stanton. By Hon. W. D. Keeley. 1885. https://archive.org/details/cu31924032776829

30 — The Industrial Situation and the Question of Wages; A Study in Social Physiology. By J. Schoenhof. 1885. https://archive.org/details/industrialsituat01scho

31 — Ericsson’s Destroyer and Submarine Gun. By Wm. H. Jaques, Lieut. U. S. Navy. 1885. https://archive.org/details/ericssonsdestro00jaqugoog

32 — Modern Armor for National Defence. By Wm. H. Jaques, Lieut. U. S. Navy. 1886. https://archive.org/details/modernarmorforn00jaqugoog

33 — The Physics and Metaphysics of Money; A Sketch of Events Relating to Money in the Early History of California. By Rodmond Gibbons. 1886. https://archive.org/details/physicsmetaphys00gibb

34 — Torpedoes for National Defence. By Wm. H. Jaques, Lieut. U. S. Navy.

35 — Unwise Laws; A Consideration of the Operations of a Protective Tariff Upon Industry, Commerce, and Society. By Lewis H. Blair. 1886. https://archive.org/details/unwiselawsconsid00blaiuoft

36 — Railway Practice; Its Principles and Suggested Reforms Reviewed. By E. Porter Alexander. 1887. https://archive.org/details/cu31924017148853

37 — American State Constitutions: A Study of their Growth. By Henry Hitchcock, LL.D. 1887. https://archive.org/details/cu31924030487932

38 — The Inter-State Commerce Act: An Analysis of Its Provisions. By John R. Dos Passos. 1887. https://archive.org/details/cu31924020340232

39 — Federal Taxation and State Expenses; or, The Public Good, as Distinct from the General Welfare of the United States (Second edition, revised). By William Hiter Jones. 1890. https://archive.org/details/federaltaxesstat00jonerich [First Edition, 1887. https://archive.org/details/federaltaxesstat00joneuoft]

40 — The Margin of Profits: How It is now Divided; What Part of the Present Hours of Labor can Now be Spared. By Edward Atkinson. 1887. https://archive.org/details/cu31924030078269

41 — The Fishery Question; Its Origin, History and Present Situation. By Charles Isham. 1887. https://archive.org/details/fisheryquestioni00ishauoft

42 — Bodyke: A Chapter in the History of Irish Landlordism. By Henry Norman. 1887. https://archive.org/details/bodykechapterinh00normuoft

43 — Slav or Saxon: A Study of the Growth and Tendencies of Russian Civilization (Second edition, revised). By William Dudley Foulke, A.M. 1899. https://archive.org/details/slavorsaxonstudy02foul

44 — The Present Condition of Economic Science, and the Demand for a Radical Change in Its Methods and Aims. By Edward Clark Lunt. 1888. https://archive.org/details/presentcondition00lunt

45 — The Old South and The New; A Series of Letters. By Hon. W. D. Kelley. 1888. https://archive.org/details/oldsouthnewserie00kell

46 — Property in Land. An essay on the New Crusade. By Henry Winn. 1888. https://archive.org/details/propertyinlandes00winnuoft

47 — The Tariff History of the United States. By Frank W. Taussig. 1888. https://archive.org/details/cu31924030184836

4th edition 1899: https://archive.org/details/tariffhistoryofu00taus
5th edition 1910: https://archive.org/details/cu31924032519336
6th edition 1914: https://archive.org/details/tariffhistoryofu00tausrich
8th edition 1931: https://archive.org/details/in.ernet.dli.2015.46434

48 — The President’s Message, 1887. With Illustrations by Thomas Nast and Annotations by R. R. Bowker. 1888. https://archive.org/details/messagpresidents00unitrich

49 — Essays on Practical Politics. By Theodore Roosevelt. 1888. https://archive.org/details/cu31924032462487

50 — The Champion Tariff Swindle of the World; Friendly Letters to American Farmers and Others. By J. S. Moore. 1888. https://archive.org/details/friendlyletterst00moor

51 — American Prisons in the Tenth United States Census. By Frederick Howard Wines. 1888. https://archive.org/details/americanprisonsi00wineuoft

52 — Tariff Chats. By Henry J. Philpott. 1888. https://archive.org/details/tariffchats00philrich

53 — The Tariff and its Evils; or, Protection which does not Protect. By John H. Allen. 1888. https://archive.org/details/tariffitsevilsor00alleuoft

54 — Relation of the Tariff to Wages. By David A. Wells. 1888. https://archive.org/details/relationoftariff00well

55 — True or False Finance. The Issue of 1888. By A Tax-payer. 1888 https://archive.org/details/cu31924031232725

56 — Outlines of a New Science. By E. J. Donnell. 1889. https://archive.org/details/outlinesofnewsc00donn

57 — The Plantation Negro as a Freeman. By Philip A. Bruce. 1889. https://archive.org/details/plantationnegroa00bruc

58 — Politics as a Duty and as a Career. By Moorfield Storey. 1889. https://archive.org/details/politicsasdutyas00stor

59 — Monopolies and the People. By Charles Whiting Baker. 1890. https://archive.org/details/monopoliespeople00bakeuoft

60 — Public Regulation of Railways. By W. D. Dabney. 1889. https://archive.org/details/cu31924070674100

61 — Railway Secrecy and Trusts; Its Relation to Interstate Legislation. An Analysis of the Chief Evils of Railway Management in the United States, and Influence of Existing Legislation upon these Evils, and Suggestions for their Reform. By John M. Bonham, author of “Industrial Liberty.” 1890. https://archive.org/details/cu31924017064886

62 — American Farms: Their Condition and Future. By J. R. Elliott. 1890. https://archive.org/details/cu31924013992536

63 — Want and Wealth. A Discussion of Certain Economic Dangers of the Day. An Essay. By Edward J. Shriver, Secretary N. Y. Metal Exchange. 1890. https://archive.org/details/wantwealthdiscu00shri

64 — The Question of Ships. Comprising I. The Decay of Our Ocean Mercantile Marine; Its Cause and its Cure. By David A. Wells; and II. Shipping Subsidies and Bounties. By Captain John Codman. 1890. https://archive.org/details/questionofshipsi00wellrich

65 — A Tariff Primer. The Effects of Protection upon the Farmer and Laborer. By Hon. Porter Sherman, M.A. 1891. https://archive.org/details/atariffprimeref00shergoog

66 — The Death Penalty. A Consideration of the Objections to Capital Punishment; with a Chapter on War. By Andrew J. Palm

67 — The Question of Copyright; A Summary of the Copyright Laws at Present in Force in the Chief Countries of the World. Edited by G. H. Putnam. 1891. https://archive.org/details/cu31924022607455

68 — Parties and Patronage in the United States. By Lyon Gardiner Tyler, President William and Mary College. 1891. https://archive.org/details/cu31924030471423

69 — Money, Silver and Finance. By J. H. Cowperthwait. 1892. https://archive.org/details/cu31924013984947

70 — The Question of Silver; Comprising a Brief Summary of Legislation in the United States, Together with a Practical Analysis of the Present Situation, and of the Arguments of the Advocates of Unlimited Silver Coinage. By Louis R. Ehrich. 1892. https://archive.org/details/questionofsilver00ehri

71 — Who Pays Your Taxes? By David A. Wells, Thomas G. Sherman, and others. Edited by Bolton Hall. 1892. https://archive.org/details/whopaysyourtaxes00hall

72 — The Farmers’ Tariff Manual by a Farmer. By Daniel Strange. 1892. https://archive.org/details/farmerstariffman00stra

73 — The Economy of High Wages. By J. Schoenhof, author of “The Industrial Situation,” etc., etc. 1893. https://archive.org/details/cu31924032403564

74 — The Silver Situation in the United States. By Prof. F. W. Taussig. 2nd edition 1896:

https://archive.org/details/silversituationi00taus ; (3rd edition, 1898). By Frank W. Taussig https://archive.org/details/cu31924030194207 ; Originally AEA publication Vol. VII, No. 1 https://hdl.handle.net/2027/hvd.32044081946527

75 — A Brief History of Panics, and their Periodical Occurrence in the United States. By Clement Juglar. Translated by DeCourcey W. Thom. 1893. https://archive.org/details/abriefhistorypa00juglgoog

76 — Industrial Arbitration and Conciliation. By Josephine Shaw Lowell. 1894. https://archive.org/details/industrialarbitr00loweuoft

77 — Primary Elections. A Study of Methods for Improving the Basis of Party Organization (Second edition). By Daniel S. Remsen. 1895. https://archive.org/details/primaryelection00remsgoog

78 — Canadian Independence, Annexation and British Imperial Federation. By James Douglas. 1894. https://archive.org/details/canadianindepend00douguoft

79 — Joint-Metallism; A Plan by which Gold and Silver Together, at Ratios Always Based on their Relative Market Values, May Be Made the Metallic Basis of a Sound, Honest, Self-Regulating, and Permanent Currency, Without Frequent Recoinings, and without Danger of One Metal Driving Out the Other. By Anson Phelps Stokes; 5th edition. 1896. https://archive.org/details/cu31924031493376

80 — “Common Sense” Applied to Woman Suffrage. By Mary Putnam-Jacobi, M.D. 1894. https://archive.org/details/commonsenseappl00jacogoog

81 — The Problem of Police Legislation; A Consideration of the Best Means of Dealing with It. By Dorman B. Eaton. 1895. https://hdl.handle.net/2027/wu.89101022507

82 — A Sound Currency and Banking System. How it may be Secured. By Allen Ripley Foote. 1895. https://archive.org/details/asoundcurrencya00riplgoog

83 — Natural Taxation; An Inquiry into the Practicability, Justice and Effects of a Scientific and Natural Method of Taxation. By Thomas G. Shearman. 1895. https://archive.org/details/cu31924030263903

84 — Real Bi-Metallism; or True Coin versus False Coin; A Lesson for “Coin’s Financial School”. By Everett P. Wheeler.1895. https://archive.org/details/realbimetallism00wheegoog

85 — Congressional Currency; An Outline of the Federal Money System. By Armistead C. Gordon. 1895. https://archive.org/details/congressionalcu00gordgoog

86 — A History of Money and Prices. By J. Schoenhof, author of “Economy of High Wages,” etc. 1896. https://archive.org/details/historyofmoneypr00schoiala

87 — America and Europe; A Study of International Relations. I. The United States and Great Britain by David A. Wells; II. The Monroe Doctrine by Edward J. Phelps; and III. Arbitration in International Disputes by Carl Schurz. 1896. https://archive.org/details/cu31924007480894

88 — The War of the Standards; Coin and Credit versus Coin without Credit. By Judge Albion W. Tourgée. 1896. https://archive.org/details/warofstandardsco00tourrich

89 — A General Freight and Passenger Post. By James L. Cowles. Third edition. 1902. https://archive.org/details/generalfreightpa00cowlrich

90 — Municipal Reform. By Thomas C. Devlin. 1896. https://archive.org/details/municipalreform01devlgoog

91 — Monetary Problems and Reform. By Charles H. Swan, Jr. 1897. https://archive.org/details/monetaryproblems00swan

92 — The Proposed Anglo-American Alliance. By Charles Alexander Gardiner. 1898.

93 — Our Right to Acquire and Hold Foreign Territory. By Charles A. Gardiner. 1899. https://archive.org/details/ourrighttoacqui00gardgoog

94 — The Wheat Problem; Based on Remarks Made in the Presidential Address to the British Association at Bristol in 1898; Revised, with an Answer to Various Critics. By Sir William Crookes. 1900. https://archive.org/details/wheatproblembas00davigoog

95 — The Regeneration of the United States; A Forecast of its Industrial Evolution. By William Morton Grinnell. 1899. https://archive.org/details/regenerationuni00gringoog

96 — Railway Control by Commissions. By Frank Hendrick. 1900. https://archive.org/details/cu31924032483277

97 — Commercial Trusts; The Growth and Rights of Aggregated Capital. An Argument Delivered Before the Industrial Commission at Washington, D.C. December 12, 1899, Corrected and Revised. By John R. Dos Passos. 1901. https://archive.org/details/cu31924020755231

98 — Labor and Capital; A Discussion of the Relations of Employer and Employed. Edited by John P. Peters. 1902. https://archive.org/details/cu31924032467098

99 — The Social Evil [i.e., prostitution] with Special Reference to Conditions Existing in the City of New York. A Report Prepared under the Direction of the Committee of Fifteen. 1902. https://archive.org/details/socialevil01newy

100 — German Ambitions as They Affect Britain and the United States. By “Vigilans sed AEquus.” (reprinted 1908). https://archive.org/details/germanambitionsa00vigiuoft

101 — Industrial Conciliation; Report of the Proceedings of the Conference held under the Auspices of the National Civic Federation in New York, December 16 and 17, 1901. Published 1902. https://archive.org/details/industrialconcil00natirich

102 — Political Parties and Party Policies in Germany. By James H. Gore. 1903. https://archive.org/details/cu31924031439387

103 — The Liquor Tax Law in New York. By William Travers Jerome. 1905. https://hdl.handle.net/2027/uiug.30112066901437

104 — Social Theories and Social Facts. By William Morton Grinnell. 1905. https://archive.org/details/socialtheoriesso00grin

105 — The Congo. A Report of the Commission of Enquiry Appointed by the Congo Free State Government. A Complete and Accurate Translation. 1906. https://archive.org/details/congoreportofcom00cong

106 — Janus in Modern Life.—By Sir William Matthew Flinders Petrie. 1907. https://archive.org/details/janusinmodernlif00petruoft

107 — The Elimination of the Tramp by the Introduction into America of the Labour Colony System Already Proved effective in Holland, Belgium, and Switzerland, with the Modification thereof Necessary to Adapt this System to American Conditions.—By Edmond Kelly. 1908. https://archive.org/details/eliminationoftra00kellrich

Vital American Problems; An Attempt to Solve the “Trust”, “Labor” and “Negro” Problems. By Harry Earl Montgomery. 1908. https://archive.org/details/cu31924032570479

Strikes: When to Strike, How to Strike; A Book of Suggestions for the Buyers and Sellers of Labour. By Oscar T. Crosby. 1910. https://hdl.handle.net/2027/nyp.33433008277620

 

Image Source: The Tariff Commission, 1916 (Left to Right, seated: D. J. Lewis; F. W. Taussig, chairman; E. P. Costigan. Standing: William Kent; W. S. Culberstone; D. C. Roper). The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Photography Collection, The New York Public Library Digital Collections. 1860 – 1920..

Categories
Princeton Suggested Reading Syllabus

Princeton. Graduate Banking and Money Course Outlines. F.W. Fetter, 1931-32

 

 

Frank Albert Fetter‘s son, Frank Whitson Fetter, taught money and banking at Princeton. Material from his undergraduate course Economics 401 for 1933-34 has been posted earlier. Following a short obituary for Frank Whitson Fetter, I have transcribed the course outlines and readings for his Banking (first semester) and Money (second semester) courses. I have included a list of the reading assignments that come from Frank D. Graham’s money course of the previous year. It is interesting to note that a full half of Fetter’s second semester money course was devoted to the history of monetary economic theories and monetary history with only the last half devoted to monetary theory.

______________________________

Frank Whitson Fetter *26
By Princeton Alumni Weekly

FRANK WHITSON FETTER aged 92, distinguished economist, monetary authority, and professor, died July 7, 1991, in Hanover, N.H. Born in San Francisco, Prof. Fetter earned his bachelor’s degree from Swarthmore College in 1920. In 1922 he received a master’s degree from Princeton, followed in 1924 by a second master’s degree from Harvard, and then he received his doctoral degree in economics from Princeton in 1926. His teaching career spanned more than 40 years, interspersed with service to our government in Washington and to several other countries in Latin America. He taught economics as a professor or visiting lecturer at Princeton, Haverford College, Johns Hopkins, the Univ. of Wisconsin, Northwestern Univ., and Dartmouth College. In 1937 he was named a John Simon Guggenheim Memorial Fellow. His most distinguished work, published in 1965, was entitled “Development of British Monetary Orthodoxy, 1797-1875.”

His first wife died in 1977. He married a second time in 1978, and his second wife also predeceased him, in 1985, Deep sympathy is extended to his daughter, two sons, and extended family of grandchildren, stepsons, and cousins.

The Graduate Alumni, Graduate Class of 1926

Source: Princeton Alumni Weekly. 

______________________________

ASSIGNMENTS IN BANKING 507

First Assignment, October 7, 1931.

Hoggson [, Noble Foster], Banking through the ages.
Martin [, Frederick], Stories of Banks and Bankers.
History of Banking in all the leading nations, Vol. II, pp. 1-29.

Second Assignment, October 14, 1931.

Andréades [, Andreas Michael. History of the Bank of England], pp. 1-186
Conant [, Charles A. A History of Modern Banks of Issue (5th ed.)], Chs. 4 and 5
Richards [, Richard D. The Early History of Banking in England], entire.

Third Assignment, October 21, 1931.

Individual reports on Banking History to 1914–
Germany, Canada, France, Scotland, Russia, England and U.S. Colonial only.

Fourth Assignment, October 28, 1931.

Individual reports (continued)
Reading for all –

White [, Horace. Money and Banking illustrated by American History, 5th edition], Book II, Chs. 1 and 2; Book III, Chs. 4, 5 and 16
Dunbar [, Charles F. The Theory and History of Banking, 3rd ed.], pp. 132-219
Conant, pp. 38-77, 138-166, 182-208, 386-412
Adam Smith, Book II, Ch. 3, “digression concerning banks of deposit.”

Fifth Assignment, November 4, 1931.

Bagehot [Walter. Lombard Street (Hartley Withers edition, 1920)], Chs. 1, 2, 3, 5, 7 and 12.
Powell [, Ellis T. The Evolution of the Money Market (1385-1915)], pp. 142-194, 243-321 and skim over pp. 322-410
Adam Smith, Book II, Ch. 2

Sixth Assignment, November 11, 1931.

Powell [, Ellis T. The Evolution of the Money Market (1385-1915)], pp. 411-705
Gregory, Vol. II, pp. 1-50

Seventh Assignment, November 18, 1931.

Banking in the U.S. up to 1860:

Miller, entire
Myers, Part I
Original documents (see bibliography)

Eight Assignment, November 25, 1931.

Finish Banking in U.S. to 1914

Myers, Part II and complete last week’s assignment
Notice to documents on Independent Treasury and its abolishment (see bibliography).

Ninth Assignment, December 2, 1931

State Banks, Trust Companies, Savings Banks and Investment Banks in the U.S.

Smith, Chs. 1-8 and 12-16
Barnett, Intro. and Chs. 1, 4, 5, 7 in Pt. I, and Ch. 2 in Pt. II.
White, Book III, Chs. 9-11, 14, 15, 17, 18, 19 and 20
Moulton, Chs. 13, 14, and 15 and 18
Galston, syndicate operations, pp. 1-36
Pujo Report, pp. 55-106.

Rolph reports on Tippetts

Tenth Assignment, December 9, 1931

The Federal Reserve System

Kemmerer, ABC entire
Kemmerer, S.V. study (Gresham reports)
Wall, Bankers Credit Manual (Hand reports)
Brandeis, Other People’s Money (Smith reports)
Rodky, Chs. 11, 12, 13 and App. D.
Willis and Edwards, Ch. 11
Dunbar, Ch. 3
Dewey & Shugrue, Ch. 9
Willis and Edwards, pp. 9-13, Chs. 2 and 3
Dewey & Shugrue, Chs. 3, 4, 6
(Last five on the subjects “the bank statement” and “credit economy”)
Also referred to White on the bank statement.

Eleventh Assignment, December 16, 1931

Deposits

Dewey & Shugrue, Ch. 11
Willis & Edwards, Chs. 7 and 13
Rodky, Ch. 3

Interbank Relationships

Watkins, Ch. 7
Dewey & Shugrue, Ch. 21
Willis & Edwards, Ch. 15

Financing Business

Moulton, Ch. 10
Willis & Edwards, Ch. 9
Dewey & Shugrue, Chs. 13 & 26
Federal Reserve Bulletin, 1921, pp. 920-6, 1052-7
Phillips, Chs. 1 & 2

Bank Administration

Willis & Edwards, Chs. 4-6,
Dewey & Shugrue, Chs. 7 and 8

Reports

Lin on Owens & Hardy
Rolph on Riefler
Hinkle on Hanson, Theories of the Business Cycle
Dzidjuziski on Snyder
Gresham on Haney
Huber on Pigou
Smith on Kuznets
Hand on Spahr (Clearings & Coll.)

Twelfth Assignment, January 6, 1932

Bank Credit and Prices:

Keynes, Treatise on Money, Chs. 2, 3, 18, 23, 24, 25 and 26
Munn, Bank Credit, Chs. 1, 2 and 3
Rodky, The Banking Process, Ch. 16
Phillips, Bank Credit, Chs. 3, 4, 5 and 7-12
Willis & Edwards, Chs. 28, 29 and 30
Federal Reserve Bulletin, 1930, pp. 400-5, 456-65, 519-26; 1931, pp. 160-6, 435-9, 121-4, 551-7, 495-8.
Study statistics in last Federal Reserve Bulletin.

Reports

Lin on Munn and Cr. and its management
Hand on Dowry, Monetary Banking Policies
Gresham on Einzig, International gold movements
Rolph on Edie, Cap. money market and gold
Hinkle on Edie, Money, Bank Credit and Prices
Huber on Burgess, Reserve Banks and Money Market
Dzidjusizki on Young, Ind. Cr.

Thirteenth Assignment, January 13, 1932

Branch, Chain and Group Banking
Bank Competition

Senate Hearings on Consolidation of National Banks, 1926, S. 1782 and HR 2, 69th Cong., 1st sess. Following pages—pp. 1-45, 53-102, 133-137, 143-160, 175-194 (important opposition), and pp. 204-211, 218-222, 227-236, 299-306, 328-29, 338-346, 354-59.
House Hearings on Branch, Chain and Group Banking, HR 141, 71st Cong., 2nd sess., 1930. Following pages: 3-40, 43-7, 88-90, 105-109, 113-18, 154-5, 203-4, 216-18, 226-32, 259-62, 268-71, 420-47, 450-60, 787-800, 808-13, 882-90, 919-24, 1037-47, 1169-73, 1404-15, 1535-67, 1569-79, 1665-88 and 1752-80. Last few particularly important in opposition.

Reports

Hand on Willitt, Sel. art.
Lin on Osterlenk, Br. Bk.
Rolph on Jamison, Mgt. of unit banks
Hilken on Starves, 60 yrs of br. bk. in Va.
Gresham on Lee, Pr. of Agr. Cr.
Huber on Lawrence, Bank Conc.
Dzidjuziski on Collins Rural Bank Reform
Austin, Leg. bk. wrecking
Smith on Cartinhour,
Hilken on Borgenson [sic, “Bergengren” is correct] cooperative banking.

Fourteenth Assignment, January 20, 1932

Gregory, Vol. II, pp. 307-91; Annual Report of the Federal Reserve Board for 1930, pp. 232-42, 252-7, 260-2, 269-72; Federal Reserve Bulletin, 1930, p. 519; Federal Reserve Bulletin, 1931, pp. 571, 374-8; Federal Reserve Bulletin, 1930, pp. 400-5, 456-64; Federal Reserve Bulletin, 1931, pp. 121-4, 160-6, 435-9, 495-8, 551-7.
Senate Hearings before the Committee on Banking and Currency on Brokers’ Loans, S. Res. 113, 70th Cong., 1st sess. (1928), pp. 2-41, 51-96.
Hearings of sub-committee of the Senate Committee on Banking and Currency on the Operation of the National and Federal Reserve Banking System, S. Res. 71, 71st Cong., 3rd Sess., Appendix, Pt. 6, Fed. Res. Questionnaire, pp. 701-727 and 748-840.
Report of the Committee on Bank Reserves of the Federal Reserve System, GPO, 1931, pp. 5-26.

Reports

Hubert, Beckhart, Disc. policy, and Spahr, Federal Reserve and control of credit.
Hilken, Einzig, Fight for financial supremacy.
Hand, Shaw, Central banks theory and Mlynarski, gold and central banks.
Rolph, Kisch and Elkin on centrol banks and Rogers, America weighs her gold.
Lin, on Burgess, Gov. Strong’s federal reserve policy, and Peel, Economic War.
Gresham, Peddie, dual system of stabilization and Reed, Federal Reserve Policy.
Dzidjuziski, Hirst, Wall St. and Lombard St.
also, as follows on Annual Reports of the Federal Reserve Board:

Huber, 1924, pp. 1-18
Hilken, 1925, pp. 1-24
Hand, 1926, pp. 1-18
Rolph, 1927, pp. 1-20
Lin, 1928, pp. 1-19
Gresham, 1929, pp. 1-10
Dzidjuziski, 1930, pp. 1-19
Smith, 1916-1923.

______________________________

Assignments in Graduate Course in Money, 1931.
(Given by Frank D. Graham).

  1. ✓Carlile, W.W.- The Evolution of Modern Money.
    ✓Nicholson, J. S.- Money and Monetary Problems [sic, “A Treatise on Money and Essays on Monetary Problems, 3d ed.], Part I to p. 161.
  2. ✓Hepburn, A.B.- History of Currency in The United States, Chapters 1-13, 15, 16, 20, 21, 28, 29.
  3. Fisher, Irving—Purchasing Power of Money, Whole book except Appen.
  4. ✓Anderson, B.M.- The Value of Money. First half.
  5. ✓Anderson, B.M.- The Value of Money. Finish book
  6. ✓Gregory, T.E.- Select Documents [Select Statutes, Documents, & Reports Relating to British Banking]. Book I-all; Book II, p. 307 to end.
  7. ✓Keynes- Treatise on Money. Vol. I
  8. ✓Keynes- Treatise on Money. Vol. II
  9. Foster and Catchings.- Profits.
  10. ✓Lawrence [, Joseph Stagg]- Stabilization of Money [sic, Stabilization of Prices: A Critical Study of the Various Plans Proposed for Stabilization (1928)”], in particular Ch. 20-27.
  11. ✓Hawtrey, R.G.- Currency and Credit. (New ed.) Pay particular attention to theory of business cycles.
  12. Mitchell, W.C.- Business Cycles. Do first half, theoretical and statistical part, but omit annals.

✓Indicates that are to be given in 1932.

______________________________

[Handwritten notes]
Graduate Course (Money)

Graham, with 12 meetings, gave only 1 to U.S. monetary history, 1 to evolution of money, 1 to English monetary history, and the remaining 9 to theory. Except for Carlile and Nicholson, all of theory is of past 25 yrs., and most of it of past 10 years.

Believe should be some modifications, along following lines:

  1. More U.S. monetary history, perhaps 3 or 4 weeks.
  2. Emphasis on Bullion controversy, spending 2 or 3 weeks.
  3. Historical development of Theory, tying it in with particular relations to monetary problems of the day.
    Bodin—Locke—Hume—Steuert—Smith.
  4. Present controversy over gold standard
  5. Bimetallism, and the silver issue.

In everything, give the men more history, and more in original sources.

______________________________

[Handwritten Notes]
Graduate Course in Money—1932.

Term Reports.

Men who have to turn in a paper, may elect to do so.

Short Term Reports

These are not to involve any reading outside of the regular assignments. They should trace certain ideas, and their developments, thru our regular reading. Each man should take 2 (ordinarily one, but class small this year).

Suggested topics:

  1. Development of views on causal influences and price changes [Helfen]
  2. Changing emphasis in monetary theory.
  3. Development of monetary theory, and its background of practical problems of monetary reform.
  4. Meaning of “quantity theory”
  5. Meaning of “fiat money”, or “fiat theory” of prices.
  6. Concept of velocity and its effect on prices.
    6a. Proportionality between money & prices. [Platz]
  7. Idea of stability of gold (or silver).
  8. Necessity for money to be based on something with commodity value (i.e., has a power in exchange outside of money use).

(Should run between 5+10 pp. Type—with carbon for me).

Special Reports.-

In some meetings, will have special reports, so as to cover more ground.
In particular will do this on Bullion Controversy, and U. S. Monetary History.

______________________________

ASSIGNMENTS IN ECONOMICS 508 (GRADUATE COURSE IN MONEY)
Princeton University—Second Semester—1931-32

February 10

A. E. Monroe, “Monetary Theory Before Adam Smith,” pp. 3-146.
W. W. Carlile, “The Evolution of Modern Money,” pp. 1-77, 120-137.

[February] 17

A. E. Monroe, “Early Economic Thought.”

Nicole Oresme, “On The First Inventions of Money,” pp. 79-102.
Jean Bodin, “Reply to the Pardoxes of Malestroit,” pp. 123-41.

John Locke, Works, Vol. II, “Some Considerations of the Consequences of the Lowering of Interest and Raising the Value of Money,” pp. 3-55.

[February] 24

A. E. Monroe, “Early Economic Thought.”

David Hume, “Of the Balance of Trade,” pp. 323-38.
Richard Cantillon, “On the Nature of Commerce in General,” pp. 247-79.
David Hume, Works, “Of Money,” pp. 317-32.

Sir John Stewart, [sic, “James Steuart” is correct] “An Inquiry into the Principles of Political Economy,” Book II, Chaps. 26, 28, 29, Book III, Chs. 1-7.

March 2

Adam Smith (Cannan ed.)

Vol. I, Ch. 5 (pp. 32-48), “Of the Real and Nominal Price of Commodities,” pp. 177-216.
“Digression on Silver,” pp. 285-312.
“Banking,” Book IV, Ch. 1 (pp. 396-417) Mercantile System.
(This not a regular assignment, but recommended that men glance over it.)

J. H. Hollander, “The Development of the Theory of Money from Adam Smith to David Ricardo,” Q. J. E., Vol. 25, p. 439.

David Ricardo, “Three Letters on the Price of Gold”; “The High Price of Bullion,” pp. 1-66.

Reports on following:

By Platz: Lord King, “Thoughts on the Restriction,” pp. 1-86.
By Hilen: “An Inquiry into the Nature and Effects of Paper Money.”
By Rolph: Walter Boyd, “A Letter to Pitt,” pp. 1-80; Sir F. Baring, “Observations on the Publication of Walter Boyd.”

March 9

Charles Bosanquet, “Practical Observations on the Report of the Bullion Committee,” pp. 1-110.
David Ricardo, “Reply to Mr. Bosanquet’s Practical Observations on the Report of the Bullion Committee,” pp. 1-141.
J. W. Angell, “The Theory of International Prices,” pp. 40-71.

If not familiar with The Report of The Bullion Committee, glance thru it. The argument is essentially the same as found in Ricardo. It is available in convenient form in Edwin Cannan, “The Paper Pound.”

Reports by the following:

By Carter: N. J. Silberling, “Financial and Monetary Policy of Great Britain During the Napoleonic Wars,” Q.J.E., Vol. 25, Feb. and May, 1924, pp. 214-73, 397-439.
By Rolph: Jacob Viner, “Angell’s Theory of International Prices,” J.P.E., Oct., 1926, pp. 601-11 only.

March 16

Establishment of Gold Standard in England

English Monetary Debates and Legislation of 1717, Report of Paris Monetary Conference, pp. 315-16.
Sir Isaac Newton’s Report of 1717, Paris Conference, pp. 317-20.
Lord Liverpool, “A Treatise on the Coins of the Realm,” Chs. 1-5, 17-19, 29, 30.
English Monetary Law of 1816, Art. 1-4, 11-13, Paris Conf., pp. 373-77.

American Monetary History

Morris Report of 1782, Paris Conference, pp. 425-32.
Jefferson Report, Paris Conference, pp. 437-43.
Hamilton’s Report on a Mint, Paris Conference, pp. 454-84. (Hamilton’s Report may be found in his Works, and in a number of other places.)

March 23

Letter of William J. Crawford, Sec. of Treas., on Exportation of Coins of The United States. American State Papers, Finance, Vol. III, pp. 393-95. No. 549, 15th Cong., 2d Session.
Report of Lowndes Committee of 1819. American State Papers, Finance, Vol. III, pp. 398-401. No. 551, 15th Cong., 2d Session.
Report on Currency by Committee of House of Representatives, Feb. 2, 1821. Paris Conference, pp. 554-57.
Ingham Circular Letter on Relative Value of Gold and Silver. Paris Conference, pp. 602-29.
Gallatin’s Report on Relative Values of Gold and Silver. Paris Conference, pp. 589-97.
Report of Sec. of Treas., May 4, 1830. Paris Conference, pp. 558 and seq.
Report of Sanford Committee, Jan. 11, 1830. Senate Document 19, 21st Cong., 1st Session.
House Resolution of 1832. Paris Conference, p. 677.
Report of Director of Mint to House of Rep., 1832, Paris Conf., p. 678.
Report of White Committee, Feb. 19, 1834. House of Representatives, Report 278, 23d Congress, 1st Session.

April 6

D. K. Watson, “History of American Coinage,” Chs. 6, 7, 10, 11.
F. W. Taussig, “Silver Situation in The United States,” pp. 2-112.

April 13

W. H. Harvey, “Coin’s Financial School.”
Horace White, “Coin’s Financial Fool.”
(Glance thru these two books, but do not make a careful study of them.)
Willard Fisher, “Coin and his Critics, “ Q.J.E., Vol. 10, Jan. 1896, p. 187 and seq.
J. L. Laughlin, “Principles of Money,” (1903 ed.), pp. 281-419.
Scott, “Money and Banking,” pp. 50-6.

April 20

Irving Fisher, “The Purchasing Power of Money,” pp. 1-348.
Proceedings of 1910 Meeting of American Economic Association, “Causes of Recent Price Changes,” pp. 27-70. (Fisher’s discussion, pp. 37-45, may be passed over, as it is all in his Purchasing Power of Money.)

April 27

B. M. Anderson, “The Value of Money,” pp. 1-291.

May 4

B. M. Anderson, “The Value of Money,” pp. 292-591.

May 11

J. M. Keynes, “A Treatise on Money,” Vol. I.

May 18

J. M. Keynes, “A Treatise on Money,” Vol. II.

May 25

J. S. Lawrence, “The Stabilization of Prices,” Part III, pp. 187-473.

June 1

Reports on Foster and Catchings, “Profits;” Edie, “The Banks and Prosperity.”

 

Source: Duke University. David M. Rubenstein Library. Economists’ Papers Archive. Papers of Frank Whitson Fetter, Box 55, Folder “Teaching, Ec 507-508 Money (Princeton) 1931-32”.

Image Source: (ca. 1937) John Simon Guggenheim Memorial Foundation.