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Exam Questions Harvard Transportation

Harvard. Enrollment and exam for Economics of Transportation. Ripley, 1908-1909

Transportation was an applied field located within the intersection of industrial organization, government regulation, and corporate finance. William Zebina Ripley’s teaching portfolio at Harvard also included labor and industrial relations. 

__________________________

Monographs/Books on Transportation by W. Z. Ripley

TransportationChapter from the Final report of the U.S. Industrial Commission (Vol. XIX) and privately issued by the author for the use of his students and others. Washington, D.C., 1902.

Railway Problems, edited with an introduction by William Z. Ripley (Boston: Ginn & Company, 1907).

Railroads: Rates and Regulation (New York: Longmans, Green, and Co., 1912).

Railroads: Finance & Organization (New York: Longmans, Green, and Co., 1915).

__________________________

Earlier exams etc. for Economics 5 (Economics of Transportation), etc.

1900-01 (Hugo Richard Meyer alone)
1901-02 (Ripley with Hugo Richard Meyer)
1903-04 (Ripley alone)
1904-05 (Ripley with Stuart Daggett)
1905-06 (Ripley with Stuart Daggett)
1906-07 (Ripley with Stuart Daggett and Walter Wallace McLaren)
1907-08 (Ripley with Stuart Daggett)

….etc.

1906-07. Ec 17. Railroad Practice (Dr. Stuart Daggett)
1907-08. Ec 17. Railroad Practice (Dr. Stuart Daggett)

 ____________________________

Course Enrollment
1908-09

Economics 5 1hf. Professor Ripley, assisted by Mr. [probably, Edmund Thorton] Miller. — Economics of Transportation.

Total 135: 1 Graduate, 34 Seniors, 57 Juniors, 32 Sophomores, 5 Freshmen, 6 Others.

Source: Harvard University. Report of the President of Harvard College, 1908-1909, p. 68.

 ____________________________

ECONOMICS 51
Mid-year Examination, 1908-09

  1. (Counts for three questions.)
    The subjoined diagram shows the location and mileage of various places in Ohio and Michigan.

Traffic may move from A to D by several routes: viz.,
over A B D (two routes between B and D, as shown on map), over A B C D, and over A B C E D. Traffic may move from A to E likewise by several routes: viz., A B C E and A B C D E. As shown by the map, there is no direct route from B to E.
Shippers of ice at A on the diagram complain that rates from A to E by all routes are $1 per hundredweight, while the rate from A to D is only eighty cents. Formerly the rates from A to both E and D were the same: viz., $1.25.

    1. Was the former equality of rates from A to D and E any fairer than the present situation? If so, explain why.
    2. Is Springfield injured by the lower rate to D? Explain fully. Does this condition of affairs constitute a violation of the Long and Short Haul clause, as finally construed?
    3. Is there any remedy to suggest?
  1. What is the present status of the Gould system of railroads by comparison with other properties?
  2. What are the objections to issues of short-term notes by railroads? Describe recent conditions.
  3. What additions to the present Interstate Commerce Act, as amended, have been suggested? State both sides of the argument in each case.
  4. How do matters stand at present with respect to the powers of the Federal Commissions in securing testimony? Compare with condition in 1900, as described in the Report of the United States Industrial Commission.
  5. Describe the various sources of information utilized in the preparation of your report; stating what you could and could not find in each of the authorities consulted. For instance, what data are given the Statistics of Railways published by the Interstate Commerce Commission?
  6. What feature of the Annual Report of the Interstate Commerce Commission which you read seemed to you most noteworthy?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1909), pp. 35-36.

Image Source: Buster Keaton in “The General” (1926). If you want a mugshot of Professor William Z. Ripley go here.

 

Categories
Economists Harvard Public Finance

Harvard. Application for PhD candidacy. Arthur Smithies, PhD 1935

After having received his Philosophy, Politics and Economics B.A. from Oxford as a Tasmanian Rhodes Scholar, Arthur Smithies entered the graduate program in economics at Harvard in 1932. Between the biographical bookends of this post, you will find the records of Smithies’ graduate education kept by the Division of History, Government, and Economics.

Smithies-related posts at Economics in the Rear-view Mirror include material from his courses.

_______________________

Best biographical sketch

A. J. Hagger, “Arthur Smithies (1907-1981)” in the Australian Dictionary of Biography (Vol. 18, 2012).

Good morning Vietnam

On Smithies’ work on economic development policy in South Vietnam for the Agency for International Development, CIA and Institute for Defense Analysis:

Seth M. Kupferberg, “An Academic in the War” in The Harvard Crimson (May 23, 1975).

_______________________

A Memorial Statement by
Harvard President Derek C. Bok
March 1982

ARTHUR SMITHIES, Nathaniel Ropes Professor of Political Economy, Emeritus, died on September 9, 1981 at the age of 74. An early Keynesian economist and authority on fiscal policy, he came to Harvard in 1948 as Professor of Economics, having taught at the University of Michigan, Oxford, and the Australian National University. He also served the U.S. government in a number of capacities during World War II for the Bureau of the Budget and the Fiscal Analysis Branch of the Economic Cooperation Administration, among others. Later, the government bodies he assisted would include the Agency for International Development. He was elected Harvard’s Ropes Professor in 1957. A most popular faculty member and teacher, he was an influential chairman of the economics department twice in the 1950s and well-loved Master of Kirkland House from 1965 to 1974. He wrote continuously and served as editor for the Quarterly Journal of Economics and the Journal of Economic Abstracts. His 1948 book, The Federal Budget and Fiscal Policy, remained a standard text for 20 years. A colleague [John Kenneth Galbraith] said Mr. Smithies believed a sense of history made the difference between a good economist and an inferior one. His own caused him in the latter years of his career to move his major interest from federal fiscal policy to the economic problems of developing countries. A native of Tasmania, he earned degrees from its University and Oxford, and the Ph.D. from Harvard.

SourceReport of the President of Harvard College, 1980-81, pp. 40-41.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

[Note: Boldface used to indicate printed text of the application; italics used to indicate the handwritten entries]

I. Full Name, with date and place of birth.

Arthur Smithies. 12 December 1907, Hobart Tasmania.

II. Academic Career: (Mention, with dates inclusive, colleges or other higher institutions of learning attended; and teaching positions held.)

University of Tasmania 1925-1929
Magdalen College Oxford 1929-1932
Harvard 1932—

III. Degrees already attained. (Mention institutions and dates.)

L.L.B. University of Tasmania
B.A. (Philosophy Politics Economics), Oxford

IV. General Preparation. (Indicate briefly the range and character of your under-graduate studies in History, Economics, Government, and in such other fields as Ancient and Modern Languages, Philosophy, etc. In case you are a candidate for the degree in History, state the number of years you have studied preparatory and college Latin.)

[Left blank]

V. Department of Study. (Do you propose to offer yourself for the Ph.D., “History,” in “Economics,” or in “Political Science”?)

Economics

VI. Choice of Subjects for the General Examination. (State briefly the nature of your preparation in each subject, as by Harvard courses, courses taken elsewhere, private reading, teaching the subject, etc., etc.)

  1. Economic Theory.
    at Oxford & Economics 11 & 15 at Harvard
  2. Money and Banking
    at Oxford & Economics 38 at Harvard
  3. International Trade
    at Oxford & Economics 39 at Harvard
  4. Statistics
    Economics 41A & 41B at Harvard
  5. [Added later] (Jurisprudence) Satisfied by work at Univ. Tasmania. Degree LLB. Smithies first man in his class) H.H. Burbank
  6. [Added later] Economic Theory 

VII. Special Subject for the special examination.

Economic Theory

VIII. Thesis Subject. (State the subject and mention the instructor who knows most about your work upon it.)

[Added later]  Aspects of Theory of Production

IX. Examinations. (Indicate any preferences as to the time of the general and special examinations.)

[Left blank]

X. Remarks

[Added later] Economic History requirement satisfied by work at Oxford.
Smithies has a preparation sufficiently broad to warrant the acceptance of this program.

[Committee for General Examination] Profs. Taussig, Leontief, Harris, Crum
[Committee for Special Examination] Profs. Taussig, Schumpeter, Leontief

Signature of a member of the Division certifying approval of the above outline of subjects.

[signed] H. H. Burbank

*   *   *   [Last page of application] *   *   *

[Not to be filled out by the applicant]

Name: Arthur Smithies

Approved: May 28, 1933 [Added later]  Sept. 11, 1933

Ability to use French certified by Dr. A. E. Monroe, March 3, 1933.

Ability to use German certified by  Dr. A. E. Monroe, March. 3, 1933.

Date of general examination Friday, May 19, 1933. Passed. F.W.T.

Thesis received April 30, 1934.

Read by Professors Taussig and Schumpeter.

Approved May 18, 1934.

Date of special examination Friday, June 1, 1934. Passed F.W.T.

Recommended for the Doctorate February 6, 1935

Degree conferred Mid-years, 1935

Remarks.  [left blank]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Partial transcript of Arthur Smities in the
Graduate School of Arts and Sciences

1932-33
Economics 11 (1 course) A minus (mid-year grade)
Economics 151 (½ course) A plus
Economics 38 (1 course) A (mid-year grade)
Economics 41a1 (½ course) B
Economics 41b2 (½ course) now taking
Economics 392 (½ course) now taking

A.B. Univ. of Oxford, England, 1932.
Commonwealth Fund Fellow, 1932-33.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Proposed change in Mr. Smithies’ plan: [undated]

  1. Economic Theory
  2. Money & Banking
  3. Statistics
  4. Jurisprudence
  5. Economic History (course credit). Course taken at Oxford
  6. Economic theory.

(Professor Taussig wishes to examine him in Jurisprudence)

*  *  *  *  *  *  *  *  *  *  *  *  *  *

General examination,
Departmental Report

DEPARTMENT OF ECONOMICS
Report on Examinations for Graduate Degrees

Name of Candidate: Arthur Smithies

Date of Examination: May 19, 1933

Fields Examined: Economic Theory, Money and Banking, Statistics, Jurisprudence

The Committee certified that the General Examination of the candidate was

Excellent
Good
Fair
Unsatisfactory

Committee:

F. W. Taussig
W. L. Crum
S. E. Harris
W. W. Leontief

[signed] F. W. Taussig Chairman

*  *  *  *  *  *  *  *  *  *  *  *  *  *

General examination passed

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
May 22, 1933

Dear Professor Wilson:

As chairman of the committee for the general examination of Arthur Smithies I beg to report that the candidate passed the examination. The committee certifies that his showing was good, and I would add that on two of the subjects it was better than good. On no subject was it in any way unsatisfactory.

Very truly yours,
[signed]
F. W. Taussig

Professor G. G. Wilson
15 Little Hall
Cambridge, Massachusetts

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Special examination,
Division Report

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
Report on Examinations for Graduate Degree

Name of Candidate: Arthur Smithies

Date of Examination: Friday, June 1, 1934, in 42 Holyoke House, at 4.

Department of Economics

Fields Examined: Economic Theory (special field)

The Committee certified that the General Special Examination of the candidate was

Excellent
Good
Fair
Failed, no bar to re-examination
Failed, recommended not to request re-examination

Committee: Professors Taussig (chairman), Leontief, and Schumpeter

Further comments may be made below.

Mr. Smithies’ examination confirmed the high opinion about him and his work which resulted from his thesis and his initiative in research

[signed] F. W. Taussig
Chairman

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Certificate of completed thesis
apparently misplaced

Mr. Smithies’ Certificate (for the thesis) has slipped away, and will have to be put in, with the proper signatures, when recovered.

[Handwritten note by Professor Frank W. Taussig]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Source: Harvard University Archives. Division of History, Government & Economics. PhD. Candidates Receiving Degrees in 1935-1936, Box 15.

__________________________

Course Names and Instructors (1932-33)

Economics 11
Economic Theory
Prof. William F. Taussig
Economics 151
Problems in Economic Theory
Prof. Joseph A. Schumpeter
Economics 38
Principles of Money and Banking
Professors John H. Williams
and Joseph A. Schumpeter
Economics 41a1
Theory of Economic Statistics I
Prof. William L. Crum
and Asst. Prof. Edwin Frickey
Economics 41b2
Theory of Economic Statistics II
Prof. William L. Crum
and Asst. Prof. Edwin Frickey
Economics 392
International Trade and Finance
Prof. Wassily Leontief

Source: Harvard University. Report of the President of Harvard College 1932-33 , pp. 65-67.

__________________________

Arthur Smithies
Timeline of his life and career

1907. Born December 12 at Lindisfarne, Hobart, Tasmania, Australia.

Attended Hutchins School in Hobart, Tasmania

1928. Won the James Backhouse Walker prize for proficiency, University of Tasmania.

1929. LL.B. University of Tasmania

1929-32. Tasmanian Rhodes Scholar, Magdalen College, Oxford University.

1932. B.A., Philosophy, Politics and Economics at Magdalen College, Oxford University.

1932-34. Commonwealth Fund Fellow and Harkness Fellow, Harvard University.

1934-35. Economics Instructor, University of Michigan.

1935. Ph.D., Harvard University. Thesis: Aspects of the Theory of Production.
[While the dissertation and special examination had been accepted/passed in June 1934,  the Ph.D. was awarded at mid-year 1934-35.]

1935. Married Katharine Ripman, February 22. Three children.

1935-38. Assistant-economist to (Sir) Roland Wilson in the Commonwealth Bureau of Census and Statistics, Canberra.

1938-43. Assistant, Associate Professor of Economics, University of Michigan.

1943-48. Economist, chief of economic section, U.S. Bureau of the Budget.

1948. The Federal Budget and Fiscal Policy. “…regarded as the standard work in the field for two decades” (Otto Eckstein).

1948-49. Director of Fiscal and Trade Policy Division, Economic Cooperation Administration.

1948-74. Professor of Economics, Harvard University.

1950-55. Chairman of the economics department, Harvard University.

1951-52. Economic adviser to the Office of Defense Mobilization.

1954. Hoover Commission Task Force.

1954. “Economic Welfare and Policy”, one of the Brookings Lectures published as Economics and Public Policy, 1955.

1955. The Budgetary Process in the United States.

1955-56. John Simon Guggenheim Memorial Fellow and visiting professor, Oxford University.

1957-78. Nathanial Ropes Professor of Political Economy, Harvard University.

1957-65. Editor of the Quarterly Journal of Economics.

1959-61. Chairman of the economics department, Harvard University.

1962. Founder of the Journal of Economic Abstracts.

1962-63. Visiting professor, Australian National University.

1963. Lecture delivered at the University of Queensland, St. Lucia on September 13, published by The English, Scottish and Australian Bank as Economic Stability in Australia.

1965-74. Master of Kirkland House, Harvard University.

1978. Retired from Harvard, Professor Emeritus.

1981. Suffering a heart attack at the Cambridge Boat Club after rowing on the Charles River, Smithies died September 9 in Mt. Auburn Hospital, Cambridge, Massachusetts.

Timeline sources: A. J. Hagger, “Arthur Smithies (1907-1981)” in the Australian Dictionary of Biography (Vol. 18, 2012); Obituary in the Boston Globe, September 11, 1981 (p. 37); Obituary in the Harvard Crimson, September 14, 1981; Who’s Who in America 40th Edition, 1978-79, p. 3041.

Image Source: Arthur Smithies in the Harvard Class Album 1952.

Categories
Brown Economists Harvard

Harvard. Application for PhD candidacy. John H. Williams, PhD 1919

John Henry Williams was in his day a colossus whose feet were squarely planted in macroeconomic research and macroeconomic policy. Many posts here at Economics in the Rear-view Mirror include material from his Harvard courses. The particular contribution of this post is found in the transcriptions of the graduate course records from the Division of History, Government and Economics that document Williams’ own pursuit of the Ph.D. Not essential to any understanding of the development of modern economics is the flurry of letters, cards and telegrams required to coordinate the time of Williams’ Special Examination that followed the acceptance of his doctoral thesis. Plus ça change, plus c’est la même chose.

A timeline of his life and career has been appended to the post below.

_______________________

Current Literature

Pier Francesco Asso’s chapter “John Henry Williams (1887–1980)” in The Palgrave Companion to Harvard Economics edited by Robert A. Cord (1924), pp. 197-220.

_______________________

Ph.D. in Economics, 1919

JOHN HENRY WILLIAMS, A.B. (Brown Univ.) 1912, A.M. (Harvard Univ.) 1916.

Subject, Economics. Special Field, International Trade. Thesis, “Argentine International Trade under Inconvertible Paper Money, 1880-1900.” Assistant Professor of Economics, Princeton University.

Source: Harvard University. Report of the President of Harvard College, 1918-19, p. 82.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

[Note: Boldface used to indicate printed text of the application; italics used to indicate the handwritten entries]

I. Full Name, with date and place of birth.

John Henry Williams. June 21, 1887. Ystrad, Wales.

II. Academic Career: (Mention, with dates inclusive, colleges or other higher institutions of learning attended; and teaching positions held.)

Brown University. 1909-12.
Harvard University. 1915 to present.
Brown University. Instructor in English, 1912-15.

III. Degrees already attained. (Mention institutions and dates.)

A.B. Brown University, 1912.
A.M. Harvard, 1916.

IV. General Preparation. (Indicate briefly the range and character of your undergraduate studies in History, Economics, Government, and in such other fields as Ancient and Modern Languages, Philosophy, etc.)

General course in European history; English Constitutional history; European history since 1815; American history.
Elementary course in Economic Theory; Labor Problems;
Elementary courses in Political Science & in Sociology.
History of Philosophy. English composition (2
 year courses).
Anglo-Saxon; English literature (two year courses); French (two years); German (two years); Latin & Greek (one year each). I obtained credit for a course in Spanish by special examination.

V. Department of Study. (Do you propose to offer yourself for the Ph.D., “History,” in “Economics,” or in “Political Science”?)

Economics.

VI. Choice of Subjects for the General Examination. (State briefly the nature of your preparation in each subject, as by Harvard courses, courses taken elsewhere, private reading, teaching the subject, etc., etc.)

  1. Economic theory, and the history of economic thought.
    Economics 11, Economics 14: – Harvard.
    (Elementary course in theory at Brown.)
  2. Economic history.
    Economics 2: – Harvard.
  3. Public Finance.
    Economics 31: – Harvard.
  4. Labor Problems.
    Economics 34: – Harvard.
    (one course at Brown.)
  5. Political Theory.
    Govt. 6a; Govt 6b: – Harvard.
  6. International Trade. Special Field
    Economics 33.
    Economics 20(a) (Research full course) 

VII. Special Subject for the special examination.

International Trade

VIII. Thesis Subject. (State the subject and mention the instructor who knows most about your work upon it.)

The Foreign Trade of Argentina in the Period of Inconvertible Paper Money (1880-19009.
Professor F. W. Taussig.

IX. Examinations. (Indicate any preferences as to the time of the general and special examinations.)

For the general examination. Early May, 1917.

X. Remarks

[left blank]

Signature of a member of the Division certifying approval of the above outline of subjects.

[signed] Charles J. Bullock

*   *   *   [Last page of application] *   *   *

[Not to be filled out by the applicant]

Name: John Henry Williams

Approved: Jan 23 1917

Ability to use French certified by C. J. Bullock. 18 December 1916 – D.H.

Ability to use German certified by  C. J. Bullock. 18 December 1916 – D.H.

Date of general examination Passed – May 7, 1911 – D.H.

Thesis received [left blank]

Read by [left blank]

Approved [left blank]

Date of special examination [left blank]

Recommended for the Doctorate [left blank]

Degree conferred [left blank]

Remarks.  [left blank]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Record of JOHN HENRY WILLIAMS
in the Harvard Graduate
School of Arts and Sciences

Grades
1915-16 Course Half-Course
Economics 2a1 A
Economics 2b2 A
Economics 11 A
Economics 13 B plus
Economics 31 A minus
Economics 34 A

 

1916-17 Course Half-Course
Economics 14 “Credit”
Economics 20a A
Economics 332 abs.
Economics 351 A
Government 6a1 A
Government 6b2 abs.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Certification of reading knowledge
of French

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
W.E. Rappard
H.L. Gray
E. E. Day

Cambridge, Massachusetts
December 18, 1916.

This is to certify that I have examined Mr. J. H. Williams and found that he has a satisfactory reading knowledge of French and German.

[signed]
C. J. Bullock

*  *  *  *  *  *  *  *  *  *  *  *  *  *

General examination passed

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.

Cambridge, Massachusetts
May 9, 1917.

Dear Haskins:

Mr. J. H. William passed his general examination for the doctor’s degree on May 7th. He did pretty well in all subjects, and the vote of the Committee was unanimous. The examination was not, however, a brilliant one.

Sincerely yours,
[signed]
Charles J. Bullock

Dean C. H. Haskins

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Willing to take a professorship at Lafayette College if offered.

Department of Commerce
Bureau of Foreign and Domestic Commerce
Washington

June 20, 1918

I have your letter of June 17th, forwarded from the Cambridge Y.M.C.A., stating that I have been recommended for a professorship in economics and government at Lafayette College at $2,000. That prospect seems to me highly desirable and I hope I may get it. I am writing today to Dr. MacCracken.

For the past two weeks, as a result of your kind mention of me to Dr. Klein, I have been doing Latin American research work in the Bureau of Foreign and Domestic Commerce. My present appointment is temporary and in no way binding on either side. I understand, however, that I may arrange for a permanent appointment if I desire. The salary is about the same as that of the teaching position, but the cost of living here in Washington is terrific! I feel too that I should prefer teaching to this work, provided the salary were satisfactory, as it is in the case of this position at Lafayette College. If, therefore, you could assist me in any way to secure the place, I should be very grateful.

I take this opportunity to explain what is the present status of my thesis. Save for some minor changes it is completed, and is now in Professor Taussig’s hands. He hopes to have an opportunity to read it during his vacation, which I undertand is to begin soon. Once the thesis is returned to me I mean to put it into final shape and forward it to you. Do you not think that it might be examined by a committee in the late summer or early fall, and that, if it is satisfactory, arrangement might be made for me to take the final examination in October?

With many thanks for your kind letter, I am

Very truly yours,
[signed]
John H. Williams

Dean Charles H. Haskins.

(My safest address is the Bureau of Foreign and Domestic Commerce, Latin American Division, Washington, D.C. I am advising the Appointments Office of this address.)

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Dean Haskins reply to Williams

22 June 1918

Dear Mr. Williams:

I am glad to learn from your letter of 20 June that you are interested in the place at Lafayette. Your letter to President MacCracken will put you in touch with him; I had already given him the only address I conld get, 1937 Calvert Street.

In regards your thesis, I will undertake to see what we can do when it reaches me in final shape. It is hard to find men free to read theses during the summer, but at least it can be read early in the academic year, so that your special examination need not go far into the autumn.

Let me know if I can do anything about the place at Lafayette, or elsewhere. I mentioned Professor Bullock in writing to President MacCracken.

Very truly yours,
[unsigned copy]

Mr. John H. Williams.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Undated File Note
Presumably late June 1918.

Miss Ham has telphoned that J. H. Williams wishes to take his special examination next fall. Professor Taussig has received his thesis and has read it. Who are to be the other members of the committee?

[Handwritten notes added:]
Bullock, Sprague, Klein, Carver.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Division asks Carver
to Read Williams’ thesis

7 October 1918

Dear Carver:

Will you serve as one of the committee to read the Ph.D. thesis of J. H. Williams, on “Foreign Trade of Argentina in the Period of Inconvertible Paper Money (1880-1900)”? The thesis will be sent to you.

Yours sincerely,
[unsigned copy]

Professor T. N. Carver

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Taussig’s Daughter to wed in November 1918. Good time to schedule Williams’ Special Examination

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J. S. Davis
H. H. Burbank
E. E. Lincoln

Cambridge, Massachusetts
October 14, 1918.

Dear dear Haskins:

Taussig writes that he is going to be in Cambridge about November 10th to attend his daughter’s wedding, and obviously that will be the best time for having Williams’s final examination. Let us tentatively put that down for November 9th, 10th, or 11th, the exact date to be fixed after the date of the wedding is definitely set.

Williams’s thesis will undoubtedly be accepted. Taussig and I are now ready to approve it, and find it a very excellent piece of work. Carver is now reading it.

Sincerely yours,
[signed]
Charles J. Bullock

Dean C. H. Haskins

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Dean Haskins Begins to Assemble Special Examination Committee

HARVARD UNIVERSITY
Division of History, Government, and Economics

16 October 1918

My dear Sir:

Can you serve as a member of the committee for the special examination of John Henry Williams for the Ph.D. in Economics, which is provisionally fixed for November 9 or 11? Mr. Williams’s special field is International Trade, and his thesis subject is Foreign Trade of Argentina in the Period of Inconvertible Paper Money (1880-1900). The committee consists of Professors Taussig (chairman), Bullock, Carver, and Persons.

Yours sincerely,
[unsigned copy]
CHARLES H. HASKINS

[To: Taussig, Bullock, Carver, Persons]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Division sets tentative dates for
Special Examination

16 October 1918

Dear Mr. Williams:

Your special examination has been fixed provisionally for November 9 or 11. The committee consists of Professors Taussig (chairman), Bullock, Carver, and Persons.

Sincerely yours,
[unsigned copy]

Mr. J. H. Williams.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Division checking whether
Taussig would be available for the Special Examination

16 October 1918

Dear Taussig:

I understand from Bullock that you are to be here these days. Can you indicate so far in advance whether you could act on Williams’s examination and what hour would be convenient for you?

Sincerely yours,
[unsigned copy]

Professor F.W. Taussig.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Persons can serve on
Special Examination Committee

My dear Dean Haskins:

I will be able to serve on the committee to examine J. H. Williams on Nov 9 or 11.

[signed]
Warren M. Persons

Oct. 18–1918

*  *  *  *  *  *  *  *  *  *  *  *  *  *

UNITED STATES TARIFF COMMISSION
WASHINGTON

F. W. Taussig, Chairman
Thomas walker Page, Vice Chairman
David J. Lewis
William Kent
William S. Culbertson
Edward P. Costigan
Wm. M. Steuart, Secretary

Address reply to
United States Tariff Commission

October 18, 1918.

Dear Bullock:

I enclose the certificate on Williams’s thesis, duly signed. I should hope to be able to get to Cambridge about November 12th. I can make no unqualified promises, but just now there is something of a let up, and prospects for an easier year are good.

Sincerely yours,
[signed]
F. W. Taussig

Professor C. J. Bullock,
Department of Economics
Cambridge, Massachusetts.

Enclosure.

[Short-hand note at bottom of page]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

UNITED STATES TARIFF COMMISSION
WASHINGTON

F. W. Taussig, Chairman
Thomas walker Page, Vice Chairman
David J. Lewis
William Kent
William S. Culbertson
Edward P. Costigan
Wm. M. Steuart, Secretary

Address reply to
United States Tariff Commission

October 19, 1918.

Dear Haskins:

I have your letter of the 16th. I could take part in Williams’ examination about November 12th or 13th. It will be a pleasure to have a hand again in Cambridge doings.

Sincerely yours,
[signed]
F. W. Taussig

Mr. Charles H. Haskins,
Harvard University,
Cambridge, Massachusetts.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Bullock has Taussig’s letter to him
forwarded to Dean Haskins

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J. S. Davis
H. H. Burbank

Cambridge, Massachusetts
October 21, 1918.

Dear Dean Haskins:

Professor Bullock wished me to send you the enclosed letter from Professor Taussig, and to suggest that you provisionally set November 12th as the date for Mr. Williams’s examination and find out whether Professor Taussig now can agree to come at that time.

Very truly yours,
[signed]
A. Pauline Ham

Dean C. H. Haskins

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Special Examination Date Change
(to the Committee)

21 October 1918

Dear Bullock:

Mr. Williams’s examination has been changed to Tuesday, November 12, at 3 p.m. I hope that this will be convenient for you.

Sincerely yours,
[unsigned copy]

Professor C. J. Bullock
Professor T. N. Carver
Dr. W. M. Persons.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Special Examination Date Change
(to Williams)

21 October 1918

My dear Mr. Williams:

It has been found necessary to change your examination, and it has been set provisionally for Tuesday, November 12, at 3 p.m.

Sincerely yours,
[unsigned copy]

Mr. John H. Williams.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Special Examination Date Change
(to Taussig)

21 October 1918

Dear Taussig:

I have arranged Mr. Williams’s examination for Tuesday, November 12, at 3 p.m. I hope that hour will be convenient for you.

Sincerely yours,
[unsigned copy]

Professor F. W. Taussig.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Carver agrees to serve on Williams’ Special Examination Committee

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J. S. Davis
H. H. Burbank
E. E. Lincoln

Cambridge, Massachusetts
October 22, 1918.

Dean Charles H. Haskins,
Cambridge, Mass.

Dear Sir:

I can serve as a member of the committee for the examination of Mr. Williams on either date, given, preferably on November 9.

Very sincerely yours,
[signed]
T. N. Carver (P)

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Bullock can’t make
the new Special Examination date

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J. S. Davis
H. H. Burbank
E. E. Lincoln

Cambridge, Massachusetts
October 23, 1918.

My dear Haskins:

It now appears that I shall be away from Cambridge the week of November 10-16 in attendance at the annual conference of the National Tax Association. Since Taussig is going to be here that week, I think it would be better to adhere to your date of Noverber 12th for Williams’s examination. You have Taussig, Carver, and Persons, so that you could perfectly well replace me by Burbank or some historian or a government man. It is more important that Taussig should be on hand than that I should be there.

Sincerely yours,
[signed]
Charles J. Bullock

Dean C. H. Haskins

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Carver agrees to new date for
Williams’ Special Examination

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J. S. Davis
H. H. Burbank
E. E. Lincoln

Cambridge, Massachusetts
October 24, 1918.

Dean Charles H. Haskins,
Cambridge, Mass.

Dear Dean Haskins:

The date for Mr. Williams’s examination, November 12, at 3 p.m. is satisfactory to me.

Very sincerely yours,
[signed]
T. N. Carver

*  *  *  *  *  *  *  *  *  *  *  *  *  *

UNITED STATES TARIFF COMMISSION
WASHINGTON

F. W. Taussig, Chairman
Thomas walker Page, Vice Chairman
David J. Lewis
William Kent
William S. Culbertson
Edward P. Costigan
Wm. M. Steuart, Secretary

Address reply to
United States Tariff Commission

October 24, 1918.

Dear Haskins:

I have your note concerning Williams’ examination on Tuesday, November 12th. I will be on hand.

Very truly yours,
[signed]
F. W. Taussig

Mr. Charles H. Haskins,
Harvard University,
Cambridge, Massachusetts.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Asking Burbank to substitute for Bullock

25 October 1918

Dear Burbank:

Could you serve as a member of the committee for the special examination of J. H. Williams on Tuesday, November 12, at 3 p.m.? Professor Bullock, who was to serve, is obliged to be out of town that week, and the date of the examination has to be fixed with regard to Professor Taussig’s presence in Cambridge. Mr. Williams’s special field is International Trade, and his thesis is on Foreign Trade in Argentina, 1880-1900. The other members of the committee are Professors Taussig (chairmen), Carver, and Persons.

Sincerely yours,
[unsigned copy]

Dr. H. H. Burbank.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Bullock informed

25 October 1918

Dear Bullock:

I have asked Burbank to serve in your place at Williams’s examination.

Sincerely yours,
[unsigned copy]

Professor C. J. Bullock.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Taussig needs to postpone
the Special Examination

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Dean Agrees to Postponing Special Examination

6 November 1918

Professor F. W. Taussig, U. S. Tariff Commission, Washington, D.C.

Examination can be changed to Friday fifteenth if your presence assured then. Telegraph.

Charles H. Haskins

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Williams informed of Special Examination date change

7 November 1918

Dear Mr. Williams:

It has been found necessary to change your examination to Friday, November 15, at 4 p.m. in Widener U.

Sincerely yours,
[unsigned copy]

Mr. J. H. Williams.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Committee members informed of
Special Examination date change

7 November 1918

My dear Sir:

It has been found necessary to change Mr. Williams’s examination to Friday, November 15, at 4 p.m. in Widener U. I trust this hour will be convenient for you.

Sincerely yours,
[unsigned copy]

[Carver, Persons, Burbank]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Special examination passed

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J.S. Davis
H.H. Burbank
E.E. Lincoln

Cambridge, Massachusetts
November 16, 1918.

Dear Sir:

I beg to report, in behalf of the Committee appointed to conduct the special examination of J. H. Williams, that he passed the examination by unanimous vote of the Committee.

Very truly yours,
[signed]
F. W. Taussig

Dean C. H. Haskins

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Notice to President’s Office
of the Award of Ph.D.

[Format matches the listing in the Annual Report of the President of Harvard College]

3 December 1918

The Division of History, Government, and Economics reports that the following candidate for the degree of Doctor of philosophy has presented a satisfactory thesis and passed his final examination successfully:

John Henry Williams,

A.B. (Brown Univ.) 1912, A.M. (Harvard Univ.) 1916.

Subject, Economics. Special Field, International Trade.

Thesis. “The Foreign Trade of Argentina in the Period of Inconvertible paper Money (1880-1900).”

[unsigned copy]
Chairman

Source: Harvard University Archives. Division of History, Government & Economics, Ph.D. 1923-24. (UA V 453.270), Box 05, Folder “Degree Granted”.

__________________________

Course Names and Instructors

1915-16

Economics 2a 1hf. European Industry and Commerce in the Nineteenth Century. Professor Gay assisted by Mr. A.H. Cole and Ryder.

Economics 2b 2hf. Economic and Financial History of the United States. Professor Gay assisted by Mr. A.H. Cole and Ryder.

Economics 11. Economic Theory. Professor Taussig.

Economics 13. Statistics: Theory, Methods, Practice. Asst. Professor Day.

Economics 31. Public Finance. Professor Bullock.

Economics 34. Problems of Labor. Professor Ripley.

1916-17

Economics 14. History and Literature of Economics to the year 1848. Professor Bullock.

Economics 20a. Economic Research (Economic Theory and International Trade and Tariff Problems). Professor Taussig.

Economics 332International Trade and Tariff Problems. Professor Persons (Colorado College).

Economics 351. Problems of Business Cycles. Professor Persons (Colorado College).

Government 6a1. History of Political Theory. Asst. Professor Holcombe.

Government 6b2. Political Theories of Modern Times. Asst. Professor Holcombe.

Source: Harvard University. Report of the President of Harvard College for 1915-16, 1916-17.

__________________________

John Henry Williams
Timeline of his life and career

1887. Born June 21 in Ystrad, Wales.

1889. May. Family emigrates to the United States, settling in the Blackinton section of North Adams, Massachusetts.

1900. October 13. Became a naturalized citizen of the United States.

 1908[est.] Graduated from Drury High School, North Adams, Massachusetts.

1912. A.B. Brown University.

1912-15. English instructor at Brown University.

1915. Married Jessie Isabelle Monroe (she died in 1960). Two daughters.

1916. A.M. in economics, Harvard.

1917-18. July to May, Sheldon Travelling Fellow to Buenos Aires.

1918-19. Instructor of Economics. Harvard. Also assistant editor of the Review of Economic Statistics.

1919. Ph.D. in economics, Harvard. Thesis awarded the Wells Prize.

1919. Accompanied Professor Edwin Walter Kemmerer of Princeton University, who was serving as adviser to the Guatemalan government in currency matters, to Guatemala and Cuba. (They departed July 12 from New Orleans). Williams traveled as secretary to Kemmerer.

1919-20. Assistant professor of economics, Princeton University.

1920. Publication of the doctoral thesis, Argentine International Trade Under Inconvertible Paper Money, 1880-1900.

1920-21. Associate Professor of Banking, Northwestern University.

1921-25. Assistant Professor of Economics, Harvard University.

1925-26. Westinghouse professor in Italy.

1925-29. Associate Professor of Economics, Harvard University.

1929-33. Professor of Economics, Harvard University.

1933-57. Nathaniel Ropes Professor of Political Economy, Harvard University.

1932-33. Delegate to the Commission that prepared the World Monetary and Economic Conference.

1933. Spring. Joined the Federal Reserve Bank of New York as Assistant Federal Reserve Agent. Full-time until October 1934.

1936-47. Vice-president of the Federal Reserve Bank of New York. In charge of the Research Function.

1937-47. First Dean of the Harvard Graduate School of Public Administration.

1944. First edition of Postwar Monetary Plans and Other Essays published. Second edition (1945). Third edition (1947). Fourth edition (1949).

1947-52. Economic Advisor to the Federal Reserve Bank of New York.

1948-51. Member of the European Cooperation and Administration advisory committee on fiscal and monetary problems.

1951. President of the American Economic Association.

1952-ca.1963. Consultant to the Federal Reserve Bank of New York.

1953Economic stability in a changing world; essays in economic theory and policy.

1953. One of seven named by President Eisenhower to a commission to study foreign economic policy.

1953-54. Member of the United States Commission on Foreign Economic Policy.

1957. Retires from Harvard University.

1957-63. William L. Clayton Professor of International Economic Affairs at the Fletcher School of Law and Diplomacy at Tufts University.

1962. Married second wife, Katherine R. McKinstry
[note: she was thanked for her editorial help in preparing the publication of Postwar Monetary Plans and Other Essays (1944); also in Economic stability in a changing world; essays in economic theory and policy (1953)]

1980. December 24. Died in Southbridge, Massachusetts.

Timeline sources: Obituary in North Adams Transcript (Jan 5, 1981), p. 12; FRBNY Quarterly Review (Winter, 1980-81), pp. 1-2Who’s Who in America 1952, p. 2622.

Image Source: Passport picture from John Henry Williams’ passport application July 8, 1919. Low resolution scan enhanced by Economics in the Rear-view Mirror.

Categories
Exam Questions Harvard Sociology

Harvard. Enrollment and exams for Principles of Sociology. Carver, 1908-1909

Artifacts from a time when Sociology roomed with Economics…at least at Harvard. But make no mistake, economics was paying the rent back in that day.

One presumes the course text was Thomas Nixon Carver’s book of course readings (over 800 pages!): Sociology and Social Progress: A Handbook for Students of Sociology. Boston: Ginn & Company, 1905.

The teaching assistant for the course was Carl William Thompson (1879-1920). After receiving an A.M. from the University of South Dakota in 1903, he added a Harvard A.M. in 1904 where he had an appointment as Assistant in Elocution. He re-entered Harvard graduate school in 1908 as a professor of economics and sociology and director of the School of Commerce at the University of South Dakota, Vermillion. He passed his general exam on June 2, 1909. In his application for candidacy for the Ph.D. he wrote “Am teaching a course in General Sociology this year, based on Carver’s ‘Sociology & Social Progress’, Ward, Spencer etc.” [Source: Harvard University Archives. Division of History, Government & Economics Division Archives. PhD. Material, Box 3, Folder “Ph.D. (illegible)”]. There is no indication that he completed the other requirements for the Ph.D. in his file. From Harvard Thompson was the director of the bureau of research in agricultural economics and associate professor of economics at the University of Minnesota. In May 1913 he accepted a position in the rural organization service of the U.S. department of agriculture. He died of influenza in 1920.

__________________________

Sociology exams from earlier years.

1901-02 (taught by T. N. Carver)

1902-03 (taught by T. N. Carver and W. Z. Ripley)

1903-04 (taught by T. N. Carver)

1904-05 (taught by T. N. Carver and J. A. Field) Includes the reading list for the course and additional biographical information.

1905-06 (taught by T. N. Carver)

1906-07 (taught by J. A. Field)

1907-08 (taught by T. N. Carver)

__________________________

Course Enrollment
1908-09

Economics 3. Professor Carver, assisted by Mr. Thompson. — Principles of Sociology. Theories of Social Progress.

Total 42: 7 Graduates, 4 Seniors, 21 Juniors, 4 Sophomores, 6 Others.

Source: Harvard University. Report of the President of Harvard College, 1908-1909, p. 68.

__________________________

HARVARD UNIVERSITY
ECONOMICS 3

Mid-year Examination, 1908-09
  1. Can social progress be defined in terms of human well-being and, at the same time, in terms of the universal evolutionary process? Explain.
  2. Are human interests harmonious as antagonistic, and what is the relation of this question to the problem of evil?
  3. How does military life, in different stages of social development, operate as a factor in human selection.
  4. What are some of the leading factors tending toward, (a) race improvement, (b) race deterioration, at the present time in the United States?
  5. Discuss the probable future of ceremonial institutions as described by Spencer.
  6. How does the transition from the militant to the industrial type of society affect the status of women?
  7. Trace briefly the historical relationship among the leading professions, as set forth by Spencer.
  8. Discuss briefly, territory, race, creed, and occupation, as bases of group consciousness, together with some of the results of each special form of group consciousness.

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 8, Bound Volume: Examination Papers, Mid-Years 1908-09.

__________________________

ECONOMICS 3
Year-end Examination, 1908-09

  1. What, according to Spencer, is the relation between the development of domestic institutions and the economizing of individual life?
  2. How do you distinguish between passive and active adaptation? Give illustrations.
  3. Discuss the views of Galton and Pearson on the social aspects of biological selection.
  4. What, according to Tarde, is the place of imitation as a social factor?
  5. Compare Kidd and Buckle on the relation of religion to progress.
  6. State, in brief, and criticize Spencer’s sociological theory of morals.
  7. State the democratic and republican theories of representation and the application of each to the conditions of modern government.
  8. Would you draw any line between those industries which are suitable for government enterprise and those which are not? If so, where? If not, why not?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1909), p. 34.

Image Source: Thomas Nixon Carver. The World’s Work. Vol. XXVI (May-October 1913) p. 127. Colorized by Economics in the Rear-view Mirror.

Categories
Exam Questions Harvard Principles

Harvard. Enrollment and semester examinations for principles of economics. Taussig, 1908-1909

Our march through the economics examinations at Harvard resumes with the academic year 1908-09. We start obviously with the Principles of Economics à la Frank W. Taussig. His team of teaching assistants turned out to have amounted to quite a bit (see the links in the course enrollment section below).

In addition to the 1908-09 exam questions for Principles of Economics taught at Harvard by Frank W. Taussig, this post includes the following links to the previously transcribed 37 years worth of examsAs you can see we have come a long way, though there is still over a century’s worth of exams to go.

________________________

Exams for principles (a.k.a. outlines)
of economics at Harvard
1870/71-1907/08

1871-75.
1876-77.
1877-78.
1878-79.
1879-80.
1880-81.
1881-82.
1882-83
.
1883-84
.
1884-85.
1885-86.
1886-87.
1887-88.
1888-89.
1889-90.
1890-91.
1891-92.
1892-93
.
1893-94.
1894-95.
1895-96
.
1896-97.
1897-98.
1898-99.
1899-00.
1900-01.
1901-02.
1902-03.
1903-04.
1904-05.
1905-06.
1906-07.
1907-08.

________________________

Course Enrollment
1908-09

Economics 1. Professor [Frank William] Taussig, assisted by Messrs. [Robert Lee] Hale, [Joseph Stancliffe] Davis, [Isaiah Leo] Sharfman, Stevens, and [Abbott Payson] Usher. — Principles of Economics.

Total 503: 1 Graduate, 21 Seniors, 97 Juniors, 241 Sophomores, 100 Freshmen, 43 Others.

Source: Harvard University. Report of the President of Harvard College, 1908-1909, p. 67.

________________________

ECONOMICS 1
Mid-year Examination, 1908-09

Arrange your answers strictly in the order of the questions.

  1. Explain what determines, in the long run, the value of

free goods;
public goods;
goods produced at the margin of cultivation;
goods produced above the margin of cultivation.

  1. “Even if it were the fact that there is never any land taken into cultivation, for which rent, and that too of an amount worth taking into consideration, was not paid; it would be true, nevertheless, that there is always some agricultural capital which pays no rent, because it returns nothing beyond the ordinary rate of profit.”
    Do you think this holds good as to agricultural land? as to urban sites?
  2. Suppose land to be of uniform fertility, and suppose not all of it to be under cultivation: would there be rent? would there be interest? (Neglect differences of situation.)
    Would your answer be different, in either respect, if all the land were under cultivation?
  3. What is the effect of larger scale of production and more minute division of labor on

the irksomeness of labor;
the productiveness of labor;
the reward of labor;
the share which goes to labor as compared with other sorts of incomes.

5. What is the connection between

the “round about” or “lengthened” process of production;
the “effective desire of accumulation”;
the “discounted marginal product” of labor;
economic rent.

  1. A strike takes place in an industry whose owners are protected from competition by a patent. Its settlement is referred to an arbitrator, before whom the workmen undertake (with success) to show that the industry has been highly profitable to the owners. How far, it at all, should the arbitrator consider this fact in his decision?
    Suppose the case had been one of agricultural laborers on an unusually fertile farm, would your answer be different?
  2. Suppose a great and permanent fall to take place in the rate of interest on capital, other things remaining the same; what changes would you expect in

the general rate of wages; the values of commodities;
the prices of urban sites;
the prices of securities yielding a fixed income?

  1. “The price of a monopolized article is commonly supposed to be arbitrary: depending on the will of the monopolist, and limited only by the buyer’s extreme estimate of its worth to himself. This is in one sense true, but forms no exception, nevertheless, to the dependence of value on supply and demand.” In what sense true? and why no exception?
  2. Would you expect the organization of employees into trade unions to bring about higher wages in the case of
    domestic servants;
    motormen on street railways;
    plumbers.
    If so, how? if not, why not?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 8, Bound Volume: Examination Papers, Mid-Years 1908-09.

________________________

ECONOMICS 1
Year-end Examination, 1908-09

Arrange your answers strictly in the order of the questions.

  1. Explain briefly: value; price; unit price; index numbers; weighted average.
  2. What determines the value of: gold dollars; gold bullion; silver dollars; silver bullion?
  3. What determined the par of exchange between (1) the United States and England in 1870; (2) the United States and England in 1880; (3) the United States and Mexico in 1890? [Mexico had a silver standard in 1890.]
  4. Is it conceivable that a country should steadily import goods which its own producers can make at less expense than foreign producers? that it should import goods which its own producers can make at less cost than foreign producers?
  5. What determines the reserve against deposits held by the Bank of England? by the Bank of France? by the First National Bank in New York City? by the Charles River National Bank in Cambridge?
  6. “There is, therefore, a rough correspondence between the movements of loans and deposits … The true connection between these movements is often forgotten, but its nature can not be mistaken by anybody who will observe the steps by which an ordinary ‘discount’ is placed at the command of the borrower.” What is the nature of the connection? What are the steps?
  7. Which among the following, if any, do you consider “unproductive” laborers: a stock-exchange broker; the promoter of a trust; a legislative agent (lobbyist) exerting himself to bring about high tariff legislation; the editor of a blackmailing newspaper?
  8. In a socialist community, what changes from existing conditions would you expect as to: the medium of exchange; economic rent; business profit; highly competent administrators?
  9. What do you understand by the principle of diminishing utility? of marginal utility? How does either principle bear on (1) the values of commodities, (2) proposals for equalizing the distribution of wealth?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1909), pp. 31-32.

Image Source: Frank W. Taussig in Harvard Class Album, 1915.

Categories
Economists Harvard M.I.T.

Harvard. Graduate records of economics PhD alumnus, Abraham George Silverman, 1930

Plot-spoiler: Abraham George Silverman ultimately became a non-atomic spy for the Soviets, one of their useful American bureaucrats. Links to details of that story can be found at the end of this post. In an earlier post you can find the Harvard graduate economics record of Lauchlin Currie along with a link to his testimony before the House Committee on Un-American Activities.

However for our purposes here, Silverman enters Economics in the Rear-view Mirror as a humble graduate student who succeeded in grinding through the requirements for a Harvard economics Ph.D. at the end of the Roaring ‘Twenties.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

[Note: Boldface used to indicate printed text of the application; italics used to indicate the handwritten entries]

I. Full Name, with date and place of birth.

Abraham George Silverman. Poland, Feb. 2, 1900.

II. Academic Career: (Mention, with dates inclusive, colleges or other higher institutions of learning attended; and teaching positions held.)

Boston University (College of Liberal Arts), Sept. 1917 to June, 1919.
Harvard College, Sept., 1919 to June, 1921.
Leland Stanford Jr. University, Sept. 1922 to Sept., 1923
Economic Research Assistant, Food Research Institute, Stanford University, June, 1922 to Oct. 1, 1923.
Inst. in Econ., M.I.T.

III. Degrees already attained. (Mention institutions and dates.)

S.B. in Economics, Harvard College, June, 1921.
A.M. in Economics, Stanford University, Sept., 1923.
A.M. Harvard, 1924.

IV. General Preparation. (Indicate briefly the range and character of your under-graduate studies in History, Economics, Government, and in such other fields as Ancient and Modern Languages, Philosophy, etc. In case you are a candidate for the degree in History, state the number of years you have studied preparatory and college Latin.)

History: Medieval and Modern European History, English History, American History, and “History of Liberty.”
Government: Principles of Popular Gov’t., Philosophy of the State.
Economics: Principles, Statistics, Accounting, Ec. Hist. of U.S., Money and Banking, Transportation, Corporations, Public Finance, Ec. thought and Institutions, “Socialism Anarchism, and Single Tax.”
Philosophy and Psych: Psychology (Principles), History of Philosophy, Philosophy of the State, Modern Philosophical Tendencies.
French.
Advanced Mathematics, etc.

V. Department of Study. (Do you propose to offer yourself for the Ph.D., “History,” in “Economics,” or in “Political Science”?)

Economics.

VI. Choice of Subjects for the General Examination. (State briefly the nature of your preparation in each subject, as by Harvard courses, courses taken elsewhere, private reading, teaching the subject, etc., etc.)

  1. Economic Theory and its History.
    Ec 10 (History of Ec. Thought and Institutions Dr. A. E. Monroe –  1920-21);
    Ec 11 (1923-24);
    Advanced Ec. Theory (J.M. Clark at Stanford);
    Seminaries in Ec. Theory (Stanford);
    Outside Reading.
    Ec 15 (1924-25).
    Teaching principles of economics 1924 – M.I.T.
  2. Economic History since 1750.
    Ec 23 (1st half 1923-24) Attended lectures 2nd half.
    Ec 2b (Dr. E.E. Lincoln, Harvard, 1919-20).
  3. Statistical Method and Its Applications.
    Ec 1b (Dr. J. S. Davis at Harvard);
    Ec 41 (1923-24);
    Stat. assistant to Dr. J.S. Davis, Summer of 1920;
    Ec. Research Assistant, Food Res. Ins., Stanford Univ. 1 1/2 yrs;
    Stat. work in Fed. Res. Bank of Bos.;
    A.M. Thesis on “Wheat Supplies, Distribution and Prices, May 1920 to July 1921”
    Taught Statistics (1925-26) – M.I.T.
  4. Money Banking & Crises.
    Ec 3 (A.E. Monroe, Harvard);
    Ec. 38 (1923-24);
    Foreign Exchg. (A.C. Whitaker – Stanford);
    Reading in History of Money and Banking & Crises in connection with Ec. 23;
    Acquaintance with the methods of Harvard Econ. Service.
  5. Transportation.
    Ec 4a, 4b (Prof. Ripley, Harvard, 1920-21)
    Lectures in “Overhead Costs” (J.M. Clark – Stanford);
    Outside reading outlined by 
    Prof. Cunningham.
  6. American History since 1789.
    Hist 32, 32b (Mr. Morrison, Prof. Channing – Harvard College (1920-21);
    Lectures in Hist 17 (1923-24)
    Hist 13b or 39 (1923-24, second half)
    Outside reading.

VII. Special Subject for the special examination.

Money and Banking, and Crises.

VIII. Thesis Subject. (State the subject and mention the instructor who knows most about your work upon it.)

The International Trade of Great Britain, 1880-1913. A statistical analysis of some aspects of the theory of international trade and prices (With Prof. Taussig)

IX. Examinations. (Indicate any preferences as to the time of the general and special examinations.)

General Examination — May 1924 (if adequately prepared by then).
Last of March or first of April.

X. Remarks

Professors Taussig, Bullock, Williams

Signature of a member of the Division certifying approval of the above outline of subjects.

[signed] F. W. Taussig

*   *   *   [Last page of application] *   *   *

[Not to be filled out by the applicant]

Name: Abraham George Silverman.

Approved: Janary 11, 1924.

Ability to use French certified by A. E. Monroe. 12 Jan. 1925

Ability to use German certified by A. E. Monroe. 12 Jan. 1925.

Date of general examination April 8, 1926. Passed T.N.C.

Thesis received April 1, 1930

Read by Professors Bullock, Taussig, Williams

Approved May 1, 1930

Date of special examination May 5, 1930. Passed – F.W.T..

Recommended for the Doctorate [left blank]

Degree conferred  [left blank]

Remarks.  [left blank]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Certification of reading knowledge
of French and German for Ph.D.

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
Jan. 12, 1925

Mr. A. G. Silverman has this day passed a satisfactory examination in the reading of French and German, as required of candidates for the doctors degree.

[signed]
A. E. Monroe

*  *  *  *  *  *  *  *  *  *  *  *  *  *

HARVARD UNIVERSITY
(INTER-DEPARTMENT CORRESPONDENCE SHEET)

Cambridge, Massachusetts

Record of
Abraham George Silverman
in the
Graduate School of Arts and Sciences
               1923-1924
COURSE
HALF-COURSE
Economics 11 A
Economics 23 (1st hf) A
Economics 38 A minus
Economics 41 A
History 392 A
Grade
               1924-1925
COURSE
HALF-COURSE
Economics 151 (mid-year)

Abs

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Scheduling General Examination
(First Attempt)

15 May 1925

Dear Mr. Silverman:

This is to remind you that your general examination for the Ph.D. in Economics is to be held on Tuesday, 19 May, at 4 p.m. in Widener U.

Very truly yours,
[unsigned copy]
Secretary of the Division

Mr. Abraham G. Silverman

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Scheduling General Examination
(First Attempt)

15 May 1925

My dear Professor Young

This is to remind you that you are the chairman of the committee for the general examination of Mr. Abraham George Silverman for the Ph.D. in Economics, to be held on Tuesday, 19 May at 4 p.m. in Widener U. I enclose Mr. Silverman’s papers herewith. The other members of the committee are Professors Carver, Ripley, Merk and Cole.

Very truly yours,
[unsigned copy]
Secretary of the Division

Professor A.A. Young

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Failed General Examination, first try

22 Concord Ave., Cambridge, Massachusetts
May 19, 1925

As Chairman of the committee appointed to conduct the general examination of Mr. A. G. Silverman for the degree of Ph.D. in Economics, I have to report that Mr. Silverman failed to pass the examination.

The committee recommends, however, that Mr. Silverman be encouraged take another examination. On one subject (statistics) he was better prepared than the average candidate. Only in two subjects did his preparation appear to be distinctly inadquate. There is reason to believe, furthermore, that there may have been certain circumstances which counted against the candidate’s doing himself full justice.

[signed]
Allyn A. Young

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Scheduling General Examination
(Second Attempt)

March 24, 1926.

Dear Mr. Silverman:

This is to inform you that the date of your general examination has been set for Thursday, April 8, at four o’clock. The committee consists of Professors Carver (chairman), Persons, Ripley, Merk, and Cole.

Very truly yours,
[unsigned copy]
Secretary of the Division

Mr. Abraham G. Silverman

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Examiners for the
General Examination
(Second attempt)

March 24 1926

Dear Sir:

Will it be possible for you to serve as a member of the committee for the general examination in Economics of Mr. A. G. Silverman, to be held on Thursday, April 8, at four o’clock? Mr. Silverman’s subjects for the general examination are:

  1. Economic Theory and its History
  2. Economic History since 1750
  3. Statistical Method and Its Application
  4. Transportation
  5. American History since 1789

Mr. Silverman’s special subject is Money, Banking, and Crises.

The committee consists of Professors Carver (chairman), Persons, Ripley, Merk, and Cole. Taussig.

Very truly yours,
[unsigned copy]
Secretary of the Division

[Pencil note added to bottom:] Professor Taussig would like to serve.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Responses to the request
to serve on the committee for the General Examination (2nd try)

[Postmark: Mar 29, 1926]

[The following responses to the card requesting participation by examiners:]

I can cannot serve on the committee for the general examination of Mr. Silverman on April 8.

[respectively by] Professors Persons, Cole, Merk, Ripley.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Confirming Taussig as Examiner
for the General Examination
(Second attempt)

March 30 1926.

My dear Professor Taussig:

You have been kind enough to say you will serve as a member of the committee for the general examination in Economics of Mr. A. G. Silverman, to be held on Thursday, April 8, at four o’clock? Mr. Silverman’s subjects for the general examination are:

  1. Economic Theory and its History
  2. Economic History since 1750
  3. Statistical Method and Its Application
  4. Transportation
  5. American History since 1789

Mr. Silverman’s special subject is Money, Banking, and Crises.

The committee consists of Professors Carver (chairman), Persons, Taussig, Ripley, and Merk.

Very truly yours,
[unsigned copy]
Secretary of the Division

Professor F. W. Taussig.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Passed General Examination, second try

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
April 9, 1926

The Committee on the General Examination of Abraham George Silverman for the Ph.D. degree, held April 8, 1926, voted unanimously to accept the examination as satisfactory.

[signed]
T. N. Carver
Chairman of the Committee

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Passed Special Examination

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
May 6, 1930.

Dear dear Professor Carver:–

As chairman of the committee appointed to conduct the special examination for the Ph.D. degree of Mr. Silverman I beg to report that Mr. Silverman passed the examination.

Very truly yours,
[signed]
F. W. Taussig

Professor T. N. Carver
772 Widener Library
Cambridge, Massachusetts

Source: Harvard University Archives. Division of History, Government & Economics, PhD. Degrees Conferred, Box 10.

__________________________

Course Names and Instructors

Harvard, 1919-20

Economics 1b.  Dr. J. S. Davis. – Statistics.

Economics 2b. Dr. E.E. Lincoln.– Economic History of the United States.

Economics 3. A. E. Monroe. – Money, Banking, and Commercial Crises.

Harvard, 1920-21

Economics 10. Dr. A.E. Monroe.– History of Economic Thought and Institutions.

Economics 322Professor Carver. – Economics of Agriculture.

Economics 4a. Professor Ripley. – Economics of Transportation.

Economics 4b. Professor Ripley. – Economics of Corporations.

History 32a. Dr. Morrison. – American History: The Formation of the Union, from 1760 to 1829.

History 32b. Professor Channing. – American History: The Development of the Nation, 1830 to the Present Time.

Stanford, 1922-23

John M. Clark. – Advanced Economic Theory.

A. C. Whitaker. – Foreign Exchange

Audited lectures by J. M. Clark on Overhead Costs

Harvard, 1923-24

Economics 11. Professor Taussig. – Economic Theory.

Economics 23. Asst. Professor Usher. – Modern Economic History since 1750. Registered in the first term, audited lectures second term.

Economics 38. Professor Young. – Principles of Money and Banking.

Economics 41. Asst. Professor Crum. – Statistical Theory and Analysis.

History 39b. Professor Turner – History of the United States, 1880-1920.

History 17. Professor Turner and Dr. Merk. – The History of the West. Audited lectures.

1924-25

Economics 15. Professor Young. – Modern Schools of Economic Thought.

Source: Harvard University. Reports of the President of Harvard College for 1919-20, 1920-21, 1923-24, 1924-25.

__________________________

Abraham George Silverman
Timeline of his education and career

1900. Born Feb. 2 in Poland.

1913-1917. Attended Boston English High School. Boston, Massachusetts.

1917-19. Undergraduate student in the College of Liberal Arts, Boston University.

1918. Inducted into U.S. Army October 9, honorably discharged December 13.

1919-21. Undergraduate student, Harvard College.

1921. Naturalized U.S. Citizen in Boston, January 24.

1921. June. S.B. from Harvard College.

1922-23. Food Research Institute, Stanford University, Palo Alto, California. May 1922 to October 1923.

1923. September. A.M.  in Economics from Stanford.

1923-24. Federal Reserve Bank of Boston, intermittent.

1923-24. Graduate student, Harvard University.

1924. A.M. in Economics from Harvard.

1924. Better Homes in America, Inc., and Division of Building and Housing, U.S. Department of Commerce, June 1924 to September 1924.

1924-31. Instructor in Economics, M.I.T. June 1924 to June 1931.

1924-31. Babson Statistical Organization.

1930. Ph.D. in Economics from Harvard. Thesis: The International Trade of Great Britain, 1880-1913.

1931-32. National Bureau of Economic Research, New York, N.Y. September 1931 to August 1932.

1932-33. Brown University and Rockefeller Foundation, Providence, Rhode Island, September 1932 to June 1933.

1933-34. Labor Advisory Board of the National Recovery Administration. Sept. 1933 to July 1934.

1934-36. United States Tariff Commission. November 1934 to February 1936.

1936-42. Chief Econmist and Director of research at the Railroad Retirement Board, Washington, D.C. March 1936 to March 1942.

1941. Loaned to U.S. Treasury Department. Frozen funds policy.

1942-45. Civilian economic advisor and Chief of Analysis and Plans to the Assistant Chief of the Army Air Forces Air Staff for Material and Service. March 25, 1942 to August 18, 1945.

1945. August. Left the Pentagon to work for the French Supply Council in Washington, D.C.

1948-53. Called several times to testify before Congressional committees having been named as a member of the Silvermaster ring of government informants reporting to espionage agents of the Soviet Union. He repeatedly invoked the protection of the fifth amendment to refuse answering questions during the Congressional hearings. Testimony of Abraham George Silverman, August 12, 1948.

Abraham George Silverman talking at the hearing on Communist spy activities in the US. (Washington, DC, US, Aug 1948) Photographer: Tony Linck

Image Source: Life Images, hosted by Google Images.
For personal non-commercial use only

1953-73. Obscurity.

1973. Died of a heart attack January 7 in New Jersey.

Principal Sources for the Timeline: Harvard University and F.B.I. Records. Report of Edward E. Kachelhoffer March 18, 1949.

Image Source: M.I.T. yearbook Technique 1931, p. 47

Categories
Business School Cornell Germany

Germany. The experience of Business Schools in Munich, Berlin, Leipzig and Cologne. Moritz Bonn, 1915

The German professor of political economy and director of the relatively young Munich School of Commerce (Handelshochschule), Moritz J. Bonn, found himself in the rather awkward position of being a visiting professor at American universities during World War One. In preparing an earlier post on the graduate school courses taken by Frank Knight, I came across the printed version of a public lecture that he gave at Cornell intended to share German experience in the creation of business schools to provide professional training for future business leaders. 

_____________________________

Moritz Julius Bonn (1873-1965)

As a student at Heidelberg Moritz Julius Bonn attended lectures by Karl Knies, and he later studied under Lujo Brentano at the University of Munich. He followed this with a semester at the University of Vienna to study with Carl Menger before completing his 1895 doctoral dissertation on Spain’s decline during the price revolution of the 16th century. The Winter semester 1895/96 was at the University of Freiburg with Max Weber. Next he continued his research studies at the newly opened LSE in 1896-98. He wrote his 1906 Habilitationschrift in Munich on the English colonization of Ireland. 1910 appointed director of the Handelshochschule in Münich (later integrated into the TU-Munich in 1922). He emigrated from Germany in 1933 following his forced resignation from the Berlin Handelshochule (Bonn descended from a Jewish family that had been in Frankfurt for four centuries). Bonn was awarded an honorary doctorate from the Freie Universität Berlin in 1956.

_____________________________

Professor Moritz J. Bonn comes to Cornell as the third encumbent of the non-resident professorship under the Jacob H. Shiff foundation. Professor Bonn was born at Frankfort-am-Main, in 1873 and has studied at Heidelberg, Munich, and Vienna. Since 1905 he has been professor of Political Economy at the University of Munich, and since 1910 the Director of the School of Commerce in Munich. Having traveled and lived in England, Ireland, and South Africa, he has had abundant opportunity to study his specialties, the subjects of Colonial Policies and International Relations on which he has written several books of accepted authority. Professor Bonn was called to the United States before the war to give a course of lectures in the University of California in the fall term of 1914-1915. Last spring he lectured under the Carl Shurz foundation in the University of Wisconsin and he comes to Cornell after a summer spent in the far west. He is to be here for this term only and is giving two courses, one in International International Relations and the other on Economic Organization and Social Legislation in Modern Germany.

Source: The Cornell Era, Vol. XLVIII, No. 3 (December, 1915), p. 176.

_____________________________

From Moritz J. Bonn’s Memoir

I had been called for the fall term to Cornell University, to the Jacob Schiff chair for German culture. Though Mr. Andrew D. White had resigned from its presidency, he still was a spiritual center. He was deeply disappointed by Germany’s attitude in the war and had turned the photograph William II had given him with its face to the wall. But he and his wife were very kind to us. President Schurman was not. He was correct but nothing more. I had to lecture on a German subject, and I had chosen as my topic the expansion of Germany. He objected to it, and but for my close connection with Mr. Schiff I might have got into difficulties. Finally I delivered the dullest series of lectures I have ever given….

Source: Moritz J. Bonn (1948). Wandering Scholar, (New York: John Day Company) pp. 177-78.

_____________________________

SCHOOLS OF COMMERCE
IN GERMANY

Professor Moritz Julius Bonn
Cornell University Lecture, December 11, 1915

When a person has to talk on some subject in a foreign university, it is well, as a rule, only to talk about matters that are not of any practical importance to the country he is in, or he might be credited with having missionary tendencies. From this point of view, I might have preferred more to talk to you, if I did not know that yon had in mind the erection of a College of Commerce. But, as President Schurman asked me to give you, I won’t say the benefit of our experience, for that would seem that I expected you to benefit by it, but to endeavor to tell you what we have done, and why and how we have done it, I am delighted to give you the information at my disposal.

As I am a part of this movement in Germany, I shall have to restrain my natural modesty somewhat and speak about things which I have done, not because I feel that I have done them better than anyone else, but because I feel that I can give you more facts about the things that I have actually done and know about. I know what our problems have been and how we have attempted to solve them. I am more familiar with the situation in Munich, as I am connected with the Commercial University there. As this is one of the later commercial universities in Germany, we have profited by the experience of some of the others to a certain extent. Now, I think anyone can realize our problems, if they will look at the great change in German industrial life in the past few years. The great need that has been felt for industrial education is due more or less to the fact that in the last twenty-five years the small establishments have lost out in Germany. About thirty years ago only about a third of the people employed in industries and commerce were in big establishments. Sixty per cent of the people were in small establishments employing a maximum of five people. At the present time the change has been completed and you might almost say that the figures haye been reversed. All this had a very important bearing on our education. In the olden days the education of the boy for the business man was that he went to a preparatory school for three years, after which he had another six years of schooling. Entering school at six years of age, he would be about fifteen or sixteen when he finished his education. Then he was apprenticed out to somebody who would be his master for between two and four years. During this time he was supposed to pick up all tricks of the business from licking stamps and running around on errands, to the complete affairs handled by the concern. Taking it from the point of view of the average business man, this education from a commercial point was not bad. The general education which people got at school was good enough so far as securing information went, not only did it provide the people with information, but created a thirst for further information and the acquiring of knowledge for itself. The general education of the German business man fifty years ago was higher somewhat than the average education of the British merchant. Viewing the terrible loss of human life and wealth which accompanied the industrial revolution in England, we can only look upon it with a feeling of unmixed horror.

A great many of our people in small circumstances have a very lively interest in all questions outside of business. In some of the very small German municipalities they have a theatre in which not only fine pieces are staged, but the classics of all the world are produced and listened to by this class of people. Sometimes, of course, they are produced by second and third rate actors, but the fact that they are attended proves that the people have a real yearning for information other than just merely business.

In many ways the education of the business man was sufficient to enable him to get on in business and at the same time to play a strong part in the general life of the community in which he lived. But things have changed completely. A young man who is sent into a banking establishment today will be lucky indeed if he learns very much. Our large banking establishments, employing about five thousand people are not the place for a boy to pick up very much information. In fact he is sent into a department where perhaps he goes on errands, licks the postage stamps, etc., and no matter how well he does his work, he has very little opportunity for advancement or to learn much about the complete affairs of the concern, in fact, if he asks questions and wants to know the reason for things, somebody must give him an answer, and he is apt to be looked upon as something to be avoided. Even if he has ambition and desires to learn, those holding responsible positions do not have a great interest in doing much for him. So long as he does his work well, he is liked, but if he doesn’t, then it is easy enough to get it done by somebody else.

Of course many of the things necessary in business can be taught; reading, writing and arithmetic, accounting, striking off balances, etc. These can all be drilled into a fellow, just as well as geography, history, etc. They even went so far in Austrian schools that they taught business accounting, banking, etc., and ran a kind of fictitious banking house, and did all the things as they are done in business. The success was not very great, however. It takes a lot of imagination to furnish a sufficient number of practical business cases. The man who is a good accountant and a good bookkeeper is not blessed as a rule with any too much imagination. The man with much imagination goes in for writing fiction, but not for organizing imaginary business transactions. Of course, one could learn a great deal in this way about the theory of banking, but it is not very practical. In modern times in Germany, owing to the great economic changes that have taken place, the responsibility of the business man is quite different from what it was before when he was the head of a small bank where he had very little business responsibility. The head of a bank with fifty or sixty million dollars capital, having six thousand employees, with branches all over the world, must be an organizer and a thoroughly trained business man. He is like the Hamburg-American Line, whose motto is “My field is the world.” In this capacity you couldn’t use a man of ordinary qualities, if he was merely taught the ordinary things which were taught to men years ago. Business is now much more a question of organization than it has ever been before. Some men are born organizers, but even the born organizer has to learn many things.

Another difficulty is our legislature. It became very greatly involved in business. The idea which has always been understood in Germany is that big business means big officers. The business man is a kind of official of the commonwealth. The relation between business man and the commonwealth in the past few years has become much more intimate. One can easily realize the changes in this field by a study of the big system of German social legislation. It is easy enough to get hold of men who are able to understand the statutes, but statutes have to be made, and it is of very great importance to the business man if his voice is heard in making the statutes. So you see he must not only know his business, and its connection with other business and with the nation at large, but he must understand the laws governing his business and be capable of expressing his position. He must be able to mingle with people of education. As a matter of fact, all of our best intellects go into the service of the State. The men who run the government are of of excellent education. Unless the business man of today is able to cope with men of greater education, and has a thorough understanding of the laws governing the line of business he is in, he appears at a great disadvantage in attempting to express his position.

I have heard it said very often in German circles, that it is a lamentable state of affairs that we have certain men at the head of the Chambers of Commerce, who are very influential, but there are many things they cannot do. They cannot write a good report, they cannot deliver a speech unless it is prepared by someone else, and they are not thoroughly familiar with the principles and organization of business and of government. This difficulty has often been overcome by the Chamber of Commerce employing a secretary who is a man of excellent education and very brilliant, having, as you say, the gift of gab. We have had some very excellent results in this way.

Another difficulty arises in German technical and engineering circles. In a great part of German industry the technical workers are fitted for their positions at the technical high schools where they are turned out as first class engineers. They may be first class engineers and fine business men, but the making of goods is very different from selling them, and to find the market for one little machine is quite different from making it. The engineer and chemist employed by a concern may be much better educated men than the one running the business, but the last phase of the business must be in the control of the merchant, the business man. Very often the man in charge knows what is the right thing to do, but he cannot express it. He does not know how to talk. He may know all about how to build machinery, but he isn’t a business man. I remember one of our big electrical concerns was practically wrecked by being run by a genius of an engineer, whose education and ability in his line were first class, but who did not realize that making machinery was not the ultimate object of a commercial concern.

On all sides there were problems confronting the business people, and they began to realize that the solution of them would only come through better business education. The bankers realized it first. At the same time some of the big steel and iron concerns realized it. In big steel and iron concerns such as we have in Germany, problems of organization are much more important than problems of marketing. Some of the very best government officials have been taken over by private concerns to help solve these questions of organization. The Political Economy Department of the Munich University in the last few years has turned out at least a dozen bankers. The present Chancellor of the Exchequer is by training a political economist. He started to be a professor, then he was taken up by the government, then the biggest bank there got hold of him, and he landed after that as (Chancellor of the Exchequer. Now I do not mean to imply that the Department of Political Economy at Munich has the habit of turning out Chancellors of the Exchequer every day.

There was one thing that the people understood — that for bigger business you needed a bigger education. The problem was where to get it. Could it be obtained at the universities?

From a practical point of view there was much grave objection to the German Universities. The ideal of the university is research. I am not going to say that we are better than other people and live up to our ideals entirely. We cannot afford to live in a theoretical idealistic atmosphere. Our universities are supported by the state, and the state wants something in return. So the universities have turned out state officials. Our universities don’t train men merely for state officials, or civil servants, but lecturers as well, teachers for the higher German schools, veterinary men who go in for state employment, theologians, etc. All sorts of people attend our universities. Whenever we give vocational instruction we give it from the point of view that we want our pupils not only to get knowledge, but we want to teach them how to think and to acquire knowledge for themselves. As a matter of fact, our universities today are thoroughly non-utilitarian, and I personally hope they will remain so. That is one of the reasons why when the technical high schools were started they had to be built up separately from the universities, for they could not be in the same way non-utilitarian. They do not start as the universities do with education for service of the public, but they teach education for all branches of life. \Ve have seen in the development of the technical high school that the non-utilitarian character of the university was as an obstacle to co-operation. You could not expect business men to take a different light. They felt, and this feeling exists among many business men of the world, that there is too much theory in the universities. Things you can refute are theories; things which you can prove are facts.

Supposing a man has built up a big business, and has a son whom he desires to have continue that business, and wants to give him a good all around education for it. He sends him to the university to be trained and you cannot expect to think very much of the university when the boy returns after three or four years and says: “I am not going to work in your shop. I am going to become an official of the government.” Or, “I am going into some sort of research work.” These are some of the difficulties between business men and the universities.

We insist that the people who go to the university must have twelve years education taking it all combined. They are about eighteen or nineteen years old when they are qualified to enter the university. The business men maintain that it would not be a good thing if a boy was brought in touch with business after his university education, as he would then be too old to pick up any useful tricks. They even say that nineteen years is too old for picking up the apprentice tricks. They prefer to get them after they have qualified for service one year in the army, when they are about sixteen years old. It might be possible to make special arrangements for study of commercial affairs and let them into the universities at sixteen, but the general attitude was that this would not be wise for if we allowed it for students of commercial subjects we would have to allow it for other things. A great many people can to the technical high schools who are not fitted for the universities. There are other important reasons why the commercial colleges should not be attached to the technical high school. The basis for teaching there is natural science. This is by no means a very good general basis for teaching business, on the one side, and on the other side the general civic duties which are taught in our universities. Beside this we have a certain antagonism in German business life between the industrial people and our mercantile class, bankers, merchants, etc. Or in other words, there is an antagonism between commerce and industry. The technical education of industry being built on a natural science basis, it was quite clear that with the existing antagonism, the commercial school should be somewhere else. We had an example of this in one place where they had a commercial branch of the technical high school, and the result was an attendance of only about eight or nine pupils.

Now, what is business and how should we teach it? There are undoubtedly many things connected with business which cannot be taught, but certain elements in business can be taught. They can be taught scientific training; in the fundamental principles of business organization and administration. A broad foundation may be laid for intelligently directed activity in commerce or manufacturing, or those specialized branches of modern business which now particularly call for trained men, such as accounting, railroading, banking, insurance, etc. A really good business man is a man who understands a certain business situation. He is a better business man if he has the gift of acting in that situation. He is a genius if he can bring about that situation. We cannot teach people to do that. In some ways the problem is much like the problem in military schools. In a military university you cannot teach a man to be a great general or to fight a victorious battle, but there are certain fundamental principles which can be taught, certain rules, certain routine business. But there is always a tendency to think that the man who has learned the routine, who knows it well, is a completely turned out product. The essence of all business strife is the element of risk. You cannot do away with it. In modern times conservation in business takes more than a mere commercial education.

Before establishing our Schools of commerce we went into the matter very carefully. We realized the element of risk, but all agreed that it would be much better to have it run as a privately endowed institution, than to have it financed by the government. If public money is provided for a new institution, the money has to be spent in accordance with certain rules, and every Member of Parliament has a right to talk as to how the money shall be spent. A great many Members of Parliament are business men and we realized that there would be a great deal of talk. The result is that practically all German colleges of Commerce are private schools, run by big endowments of business men; some are funded by municipalities and Chambers of Commerce. For the first time in Germany education was started on a private basis in institutions ranking as universities. Of course there is a certain amount of consideration given to the government, and we work continually hand in hand with the government authorities. I might say that we tell them what we have done, but we do not ask them about what we are going to do. So if any Member raises a question in Parliament as to what we are doing and the way we are doing it, the Secretary of Education simply gets up and says: “I am very sorry, gentlemen, but it is not your money that is being spent”, and that is all there is to it.

We developed three types of these schools. The first type was started in Leipzig, where they run a commercial branch in combination with the university. It drills them in double accounting, how to strike balances, a little commercial law, how a bill of exchange locks, etc. It was an excellent school of its kind and did a great deal of good work. Many boys were sent to Leipzig to be taught the German system of keeping accounts. All the students in the Commercial School were allowed certain instruction in the University, and those in the University were allowed instruction in the Commercial School. This was a fine thing, perhaps, for many of the boys, for it gave them the privilege of being connected with the university by being enrolled in the commercial school.

The second type was in Cologne. A very rich man in Cologne died and left a great deal of money to be devoted to a commercial school. Cologne is a rich city, many of the people there are in the steel and iron industry and they have lots of money. The idea was to start an institution which would be called a commercial university, but which would be much more. It was to be a kind of university chiefly erected for business people. It tried in many ways to be like a university. Many things were taught which had little to do with the education of business people. For sample, instruction in English was given by a first class fellow who knew a great deal about Shakespeare and the early English poets, but who would be greatly at a disadvantage if he tried to write a business letter in good English. They tried to teach business in the same way that science is taught in a university.

The same way was followed by the people in Berlin. A large corporation in the Stock Exchange wanted to do something great for mankind and also to commemorate their own service, so they subscribed a big fund to erect a beautiful building, which was to be used as a school of commerce. A most brilliant man was called to fill the chair at the head of the institution. He was a man who would be a very fine ornament to any first-class university, but who knew little about commerce, business and practical questions. They called all sorts of people for instructors who were wonderful scholars, but who were not of very much assistance in solving practical business questions. Among them I remember they called a man who was a marvel at saving theoretical problems, how to measure the interior of the earth, etc., etc., but who was not of any very practical assistance to any future Captain of Industry. Besides if a student wants that sort of thing, he can get it at the university, which was next door. They started with the idea that they could only give to business people what they wanted to give them by creating an organization just like the university.

At the institution in Munich we took a different course. We didn’t do it absolutely from wisdom, perhaps, but more properly from necessity. We didn’t have as much money as the others had. I have often thought that the absence of money in a university is by no means a great drawback, for yon then devote your attention to the more serious problems, the things of vital issue, and do not waste money and time on theoretical problems, when you haven’t the money to waste. Our idea was to create a commercial college based on a departmental idea.

In Germany there is great antagonism between the business people and the universities. The business people feel that their sons do not get the proper education to be of assistance to them in their business by attending the universities. In former years the boys became apprentices and grew up with the business, but in doing this they were apt to become men of routine, who lacked the initiative to take large responsibilities, such as are required of the successful business manager. They are so busy with business that they have no time for the broader study that would be of great practical value to them.

Now as you see we have the three types of commercial school. The institution at Leipzig which is simply a combination course, the institutions at Gerlin and Cologne, which tried to be universities, and the one at Munich, which tried to do departmental work in a university spirit.

We had many problems to face, and among others the question of organization arose. Were we going to follow the old organization of the German Universities? The German universities elect a faculty head for only one year, and in some instances two years. It was our idea that no institution would ever get ahead which continued this method of electing a head, and that something new had to be done. We did not believe in injecting politics into an institution where no political objects were at stake, and where it was merely a question of business efficiency. No business can be taught by merely talking, or by having a kind of theoretical debates of the problems and questions. They can only be taught with a certain amount of routine. We have continually to do something to make a good showing as we are dependent upon Trustees and people for financial aid. Plenty of people are willing to put in their money, and also to furnish ideas— a great many of which we could not carry out There are many problems to solve between Trustees and Faculty.

In Munich we co-operate with the University and Technical High Schools to a very great degree. Outside of Commercial Science, practically every professor on my staff is attached to the faculty of the university and technical high school. We have succeeded in establishing a true university spirit. We aim not only to teach them business, but to train them to be citizens of the highest type.

There is great feeling in Germany between men in the universities and men in commerce. For instance, take my own case. It is sometimes difficult for them to consider me as one of their colleagues, and treat me as a university man, as they look upon me as somewhat inferior when I go to my office. We have yet to overcome many difficulties.

We employ regular professors, assistant professors, and instructors; also some high government officials and heads of big business concerns give us the benefit of their experience. Our experiences are very mixed. We find that few business people are first-class teachers. The majority of than are willing to give us some information, but they keep back oftentimes the more essential facts. Yet co-operation with the business man has been excellent, although the student is unable to learn as much as we might wish.

The students consist of two classes :— first, the student who has been for two years a general clerk, and second, the student who had the right to serve but one year in the army, has passed an examination, and gone into business for two years. I cannot give you any statistical facts about these boys, as I left my notes at home. This proves I think, that I am not on a missionary trip, I can only tell you, therefore, what I remember.

Before entering the Commercial School, the boys are expected to have two years of training as clerks, or in business in some capacity. If there is one maxim more than another on which practically the whole structure of commercial education rests in Germany, it is that some practical training in actual commercial work shall precede the school training. We look the boys up very carefully and often call upon the Chamber of Commerce for information. We are not very rigid in this rule when we find that a good student was an apprentice in a shop only a year or perhaps three-quarters of a year. Sometimes we find a student who has been an apprentice three or four years and has learned nothing, while others learn a great deal in a year, A great deal depends upon the boy. Our students at eighteen years of age have been, as a rule, for two years in business and have had a good general education. Some of the students which we have go into business as clerks and having gained some knowledge of the business they desire to follow, come back to us to do some studying along that line. Not all of our students take examinations; some of them study for the examination, while others care only for certain courses that will help them to get on in their particular business. Some of them come to us, perhaps, to be trained for a year in Political Economy. They know what they want and go about getting it.

The regular students have to stay with us two years, four terms, which we consider too short a time We would like to make it three years, with six terms.

In Berlin and Cologne they have spent so much money on fine buildings, that they think they have to insist upon a great number of students. If they do not, the people putting up the capital will think they have made a poor investment.

We first teach Commercial Science. Perhaps we should not call it science, although it is undoubtedly of a scientific nature. We teach them the real problems in accounting, striking balances, questions of industrial organization, and a good deal, too, of mere routine work.

We teach Political Economy, and Commercial Law, and Industrial Law. Business practice is so closely related with law that it is advisable and even necessary that students of business have some acquaintance with this essential feature. They do not need to have a knowledge of legal procedure and other matters which are called the machinery of the law, but they do require a working knowledge of the laws that have direct application to the conduct of their business. Legal training cultivates qualities that are directly useful in solving problems of a purely business character. They learn the ability to analyze and to state clearly and concisely the facts of a complicated business situation. We aim to teach the students to apply general principles and to think for themselves.

We require the study of one language. The student can choose English or French. We assume that he has gotten a secondary school education in the subject he has elected, and we are not concerned with teaching grammar.

We teach them geography and a good many elective branches which they can pick up if they like. We have examinations, partly written and partly oral. Written examinations consist of two or three hours of political economy and commercial science.

We aim to give thorough and complete instruction in the fundamental principles of business organization and administration, and to present such a range of elective courses that each student may receive the instruction that will fit him for the business career he proposes to enter.

We have complete liberty of attendance among the students. Whether they come or not, it is up to themselves. Our idea is not only to give them information, but we want to train their minds to work for themselves. The figures show that every year we get a greater number of students. In looking about us and studying the situation we find a great many of our former students holding responsible positions.

Good business men are really born; you cannot make a man a first class leader if he hasn’t got it in him. You can, no doubt, teach men a good many things that will be helpful to them, but we do not want to train the small clerk who will remain all his life a small clerk. For him to spend his time and energy with us would be a waste of money. No university can make a wise man of a fool, and also no university can make a fool of a wise man. We take as a definite stand that we want to teach the students to draw out what is in them, to develop their own qualities, to make them leaders in business, and we try to teach them all the practical tricks of the trade, and to give them general instruction in what is essential in all classes of business.

We endeavor to teach them that we live in a community, the welfare of which depends upon the action of its individuals, and that what tends to help the individual will help the country at large, and when they serve their own interests they serve the interest of the public as well. We try to make the students feel responsible for their own actions. We are trying to teach the spirit of cooperation, and this is the spirit that prevails throughout Germany to-day. If it were not so, Germany could not have faced the great crisis which she has been facing for the past year and a half.

I think if you know anything about Germany, you will agree that we have started on the right track. There is much yet to be done, and none realize it better than we, but we do feel that we have taken a step in the right direction. Whether that direction may be good for the other nations is not a question for me to decide.

Source: Professor E. R. A. Seligman’s copy of the Stenographic report of a lecture on schools of commerce in Germany … delivered December 11, 1915, before members of all the faculties in Cornell University by Professor Julius Bonn (1873-1965), Professor at the University of Munich. Copy of microform at archive.com.

Image: Portrait from June 27, 2023 article Moritz Julius Bonn: Stets dort, wo Geschichte geschrieben wurde at the website of the Frankfurter Allgemeine.

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Columbia Economists Harvard Industrial Organization Transcript

Harvard. Graduate records of Economics PhD, Gardiner Coit Means. 1933

Gardiner C. Means was awarded his Harvard  Ph.D. in economics  in no small part due to the department’s willingness to relax a binding constraint with respect to a residency requirement for the Ph.D. Professor Harold Burbank’s plea for an exception to the rule is an example of a blind-eye getting turned for the right reason. 

I recommend that Gardiner Coit Means be forgiven whatever deficiencies for residence that may appear on his record.

Means has had a checkered career, characterized by work neglected, I am afraid, and brilliant performances. He is the sort of student who cannot, or should not, be held to the usual formal requirements…

His greatest hit, The Modern Corporation and Private Property  (with Adolf A. Berle, Jr.) scored a Hoover Institution conference on the 50th anniversary of its publication. Not bad for an early “checkered career”.

Fun fact: Gardiner C. Means was an “old bunkmate” of Adolf A. Berle, Jr. at the Army’s officer candidate school at Plattsburg, New York during World War I. Their respective spouses were undergraduate friends at Vassar.

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Much More Background and Context

William W. Bratton. The Modern Corporation and Private Property Revisited: Gardiner Means and the Administered Price,” Law Working Paper 443/2019 (January 2020). Published in Seattle University Law Review, Vo. 42, 2019.

Gardiner C. Means, Remarks upon the Receipt of Veblen-Commons Award,  Journal of Economic Issues Vol. 9, No. 2 (June 1975).

Warren J. Samuels & Steven G. Medema, Gardiner C. Means’ Institutionalist and Post Keynesian Economics (1991).

Theodore Rosenof, Chapter 3 “Gardiner C. Means and the Corporate Revolution” in his Economics in the Long Run: New Deal Theorists & Their Legacies, 1933-1993, (1997).

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

[Note: Boldface used to indicate printed text of the application; italics used to indicate the handwritten entries]

I. Full Name, with date and place of birth.

Gardiner Coit Means, June 8, 1896. Windham, Conn.

II. Academic Career: (Mention, with dates inclusive, colleges or other higher institutions of learning attended; and teaching positions held.)

Harvard College 1913-18
Harvard University 1925-27
Columbia University 1930-31

III. Degrees already attained. (Mention institutions and dates.)

Harvard College AB 1918
Harvard University MA 1927

IV. General Preparation. (Indicate briefly the range and character of your under-graduate studies in History, Economics, Government, and in such other fields as Ancient and Modern Languages, Philosophy, etc. In case you are a candidate for the degree in History, state the number of years you have studied preparatory and college Latin.)

History I, Economics A, — Specialized in Chemistry.

V. Department of Study. (Do you propose to offer yourself for the Ph.D., “History,” in “Economics,” or in “Political Science”?)

Economics.

VI. Choice of Subjects for the General Examination. (State briefly the nature of your preparation in each subject, as by Harvard courses, courses taken elsewhere, private reading, teaching the subject, etc., etc.)

  1. Economic Theory and its History.
    Ec 11 & Ec 15.
  2. [Economic History since 1750]
    Ec 2 offered for course credit
    Supplementary Reading.
    [NOTE: Brackets added in red pencil later, “offered for course credit” written in pencil and added sometime later]
  3. Money Banking & Crises
    Ec 38
    Ec 37
  4. Economics of Corporations
    Ec 4b
    2 years special study of corporate relationships
  5. International Trade & Tariff Policies
    Ec 33 & Ec 39 offered for course credit
  6. Special Problems in Valuation – Judicial, Commercial, & Accounting.
    Special work with Professor Bonbright of Columbia Univ.
    Ec 36

VII. Special Subject for the special examination.

Special Problems in Valuation

VIII. Thesis Subject. (State the subject and mention the instructor who knows most about your work upon it.)

The Corporate Revolution
[NOTE: added in pencil as substitution for earlier subject]

Accounting Theory and Practice in Relation to Problems of Valuation. — Prof. Bonbright

IX. Examinations. (Indicate any preferences as to the time of the general and special examinations.)

General Examination — Late Fall of 1931 Jan 13/32 [ADDED]
Special Examination — Spring of 1932

X. Remarks

[ALL REMARKS ADDED LATER:]

Professor Williams, chairman
[Professor] Bullock
Dr. O. H. Taylor
[Dr.] A. H. Cole

  Special examination — Professors Mason, Monroe, Chamberlin

Signature of a member of the Division certifying approval of the above outline of subjects.

[signed] H. H. Burbank

*   *   *   [Last page of application] *   *   *

[Not to be filled out by the applicant]

Name: Gardner [sic] Coit Means.

Approved: June 2, 1931.

Ability to use French certified by Dr. A. E. Monroe. March 23, 1927

Ability to use German certified by Dr. A. E. Monroe. March 23, 1927.

Date of general examination Wednesday, January 13, 1932. Passed J.H.W.

Thesis received January 6, 1933 (accepted for Jan. 3 by W.S.F.)

Read by Professor Chamberlin and Mason and Dr. Monroe

Approved January 30, 1933 (with reservations)

Date of special examination January 31, 1931. Passed – E.S.M.

Recommended for the Doctorate Jan. 31, 1933.

Degree conferred Feb. 1933

Remarks.  [left blank]

 

 

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Certification of reading knowledge
of French and German for Ph.D.

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
March 23, 1927

Mr. Gardiner C. Means has this day passed a satisfactory examination in the reading of French and German as required of candidates for the doctors degree.

[signed]
A. E. Monroe

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Failed General Examination, first try

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
May 23, 1927

To the Chairman of the Division of
History, Government, and Economics

Dear Sir:

As Chairman of the Committee for the examination of G. C. Means, I have to report that Mr. Means failed to pass his general examination. But the Committee was unanimous in the opinion that he ought to be encouraged to try again. He did better than the average in his theoretical subjects, but was singularly weak in history.

Very truly yours,
[signed]
John H. Williams

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Request to Amend Program
of the General Examinations

HARVARD UNIVERSITY
Department of Economics

H.H. Burbank
41 Holyoke House
Cambridge, Massachusetts
December 10, 1931.

Dear Professor Carver:

Gardner C. Means has requested that he be allowed to change his program somewhat. He plans to stand for the General Examinations in January. He wishes to amend his program so that he will be examined on International Trade rather than Economic History and will satisfy the Economic History requirement by offering credit in Economics 2. This course was taken in 1925-26 before our new regulations went into effect and before Economics 25 was offered.

Very sincerely,
[signed]
H. H. Burbank

HHB: BR

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Request to substitute a field for credit
approved

Dec. 15, 1931

Dear Mr. Means:

This is to inform you that at a meeting of the Committee of Seven, Division of History, Government, and Economics, held on December 14, your petition to change your plan of study to offer course credit in Economic History instead of in International Trade and Tariff Problems, was granted.

Very truly yours,
[unsigned copy]
Chairman

Mr. Gardner [sic] Coit Means

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Scheduling 2nd try
General Examination

Columbia University
in the City of New York

School of Law

December 22, 1931

Professor T. N. Carver,
Harvard University,
Cambridge, Massachusetts.

Dear Professor Carver,

I should like very much to present myself for the General Examination required of candidates for the Degree of Doctor of
Philosophy. I will appear at any time after the first of the year which you indicate though my own convenience would be better served if I were to appear on or about the 13th of January. However, any date within a week of the middle of January would be almost equally convenient.

Very sincerely,
[signed]
Gardiner C. Means.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Scheduling General Examination,
first iteration for second try

Dec. 28, 1931

Mr. Gardiner C. Means
Columbia University
New York

Dear Mr. Means:
Your letter has cone during Dr. Carver’s absence from Cambridge.

I am scheduling your general examination for Wednesday, January 15, at 4 p.m. Your committee will probably consist of
Professors Williams (chairman), A. H. Cole, and Ripley, and Dr.
Haberler. If there is any change in the personnel, I will let you know.

Very truly yours,
[unsigned copy]
Secretary

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Bullock to Substitute for Ripley
in the General Examination Committee

Jan. 8, 1932

Dear Mr. Means:

I find that Professor Ripley will be in Mexico on the date of your examination, January 13. However, Professor Bullock can take his place on the board. As the committee now stands, it consists of Professors Williams (chairman), A. H. Cole, Bullock, and Dr. O. H. Taylor. If anything further develops, I will let you know.

Very sincerely yours,
[unsigned copy]
Secretary

Mr. Gardner [sic] C. Means

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Time and Place of the
General Examination (2nd try)

Jan. 11, 1932

Dear Professor Williams:

You are chairman of the committee for the general examination of Mr. Gardiner C. Means to be held on Wednesday, January 13, in 42 Holyoke House, at 4 p.m.

The other members of the committee are Professors Bullock and A. H. Cole, and Dr. O. H. Taylor. I enclose Mr. Means’ papers.

In writing the report of the examination, will you please make it somewhat detailed?

Very sincerely yours,
[unsigned copy]
Secretary

Professor John H. Williams

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Passed General Examination, second try

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
January 15, 1932

Dear Professor Carver:

Mr. Gardiner C. Means passed his general examination in Economics on January 13. It was the unanimous opinion of the committee that the examination itself was rather poor, but that in view of his good course record he ought to be passed. Apparently Mr. Means is constitutionally unable to answer simple questions directly, and tends to run off at length on tangents of his own, so that it is peculiarly difficult in so short a time as two hours to find out what he really knows and thinks in four subjects. The result was that none of us felt sure whether he did or did not have an adequate grasp of the subjects. We felt that in view of the course record he should have the benefit of the doubt.

Very sincerely yours,
[signed]
John H. Williams

[Handwritten] P.S. Next day, in private conversation, I discovered Means has an intimate knowledge of recent writings in monetary theory, which I was entirely unable to uncover in the exam. J.H.W.

Professor T. N. Carver
772 Widener Library
Cambridge, Massachusetts

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Request to Amend Program
of the General Examinations

HARVARD UNIVERSITY
Department of Economics

H.H. Burbank
41 Holyoke House
Cambridge, Massachusetts
December 7, 1932

Dear Dean Mayo,

I recommend that Gardiner Coit Means be forgiven whatever deficiencies for residence that may appear on his record.

Means has had a checkered career, characterized by work neglected, I am afraid, and brilliant performances. He is the sort of student who cannot, or should not, be held to the usual formal requirements. As a matter of record, I could secure a grade for him in the research work he did with Professor Williams in 1926-27, but I believe that such details are better left unfulfilled and that Means be allowed his residence credit on the basis of general accomplishment.

He passed his General Examination in January last year.

Sincerely yours,
[signed]
H. H. Burbank

Dean Lawrence S. Mayo
24 University Hall

VS

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Division Head Requested to Back the Department Head…please…

HARVARD UNIVERSITY
The Graduate School of Arts and Sciences

24 University Hall, Cambridge, Massachusetts
December 20, 1932

Dear Professor Ferguson:

At its meeting last evening the Administrative Board considered the application of Gardiner C. Means to become a candidate for the doctorate at the end of the current half-year and took no action because Means has had only one and three-quarters years of resident graduate work. At my suggestion Professor Burbank had recommended that Means be forgiven whatever deficiencies for residence might appear in his record. I had thought that this would suffice, but the Board quite properly felt that a recommendation of this kind should come from you as Chairman of the Division instead of from the Chairman of the Department. I enclose Professor Burbank’s letter for your information. All of Means’s graduate study was done in actual residence at Harvard. Under the circumstances do you feel like making a recommendation in his case?

Yours very truly,
[signed]
Lawrence S. Mayo
Assistant Dean

Professor W. S. Ferguson

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Jan. 4, 1933

Dear Mr. Mayo:

On general principles I feel like upholding the recommendation of the Department of Economics. They have the personal
knowledge of Mr. Means which I lack. Though his record is one course short of the requirement for residence, he has, none
the less, taken two full years of work in the Harvard Graduate School and has passed his general examination for the Doctorate.
Speaking for the Division, I should say that the passing of this
examination is our test. It is, I think, for you to decide whether this compensates for a deficiency in his record of courses completed.

Yours sincerely,
[unsigned]
Chairman

Dean Lawrence S. Mayo

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Summary of Thesis Submitted

Columbia University
in the City of New York

School of Law

January 6, 1933.

Chairman of the Division Committee on Graduate Degrees, Division of History, Government and Economics,
Harvard University, Cambridge, Mass.

Dear Sir:

In sending my thesis in partial fulfillment of the requirements of the doctors degree in Economics, I failed to enclose the summary descriptive of the thesis. I am enclosing it herewith and I would very much appreciate it if you would have the summary placed with the thesis.

Very sincerely,
[signed]
Gardiner C. Means

GCM/ Z

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Thesis submitted

Jan. 9, 1933

Dear Mr. Means:

Your thesis came to my office Friday afternoon, and although it was three days late, the postmark indicated that it had been mailed in time and should have been delivered before; therefore it is accepted as of January 3rd.

I do not find any summary, which should accompany every thesis. It should not exceed 1200 words in length. If you have not already prepared one, you had better attend to it at once.

Professor Williams, who would ordinarily read the thesis and be on the committee, is in Europe, to be gone until some time in February. In view of this fact, and also that the summary has not been completed, I wonder if you would not be willing to postpone your examination until after February 1st. Of course this would mean waiting for your degree until Commencement, and you may prefer to go ahead with the examination as planned. Please let me know your thought in regard to this suggestion.

Sincerely yours,
[unsigned copy]
Secretary

Mr. Gardiner C. Means

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John Williams not available for the special examination

Jan. 11, 1933

Dear Mr. Means:

I find that Professor Williams may be abroad indefinitely, so the wisest thing seems to be to go ahead with your examination on January 31st as planned. I will let you know the verdict on the thesis as soon as it is returned to me. I am sorry if I caused you any confusion by my letter of the 9th.

Sincerely yours,
[unsigned copy]
Secretary

Mr. Gardiner C. Means

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Chamberlin asked to read thesis
[carbon copy]

Jan. 12, 1933

Dear Professor Chamberlin:

Will you serve as a member of the committee to read Mr. Gardiner C. Means’ Ph.D. thesis entitled “The Corporate Revolution”?

Professor Mason is the other member of the committee. He has the thesis now, and will hand it to you when he has finished reading it.

The date for Mr. Means’ special examination is Tuesday, January 31. I hope that this time is satisfactory to you. It will be at 4 p.m.

Sincerely yours,
[unsigned copy]
Secretary

Professor E. H. Chamberlin

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Thesis Reports Not Yet Submitted,
Stay Tuned

January 27, 1933

Dear Mr. Means:

The report on your thesis has not yet been returned, and I shall probably not have it before Monday. I will wire you then in time for you to arrange to come on for your special examination on Tuesday afternoon.

Very truly yours,
[unsigned copy]
Secretary

Mr. Gardner C. Means

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Handwritten Draft for Telegram [?]
to Means from Mason

Gardiner C. Means

Thesis acceptable with omission of Part II [NOTE: Means’ theoretical discussion]. Examination tomorrow if you consent; otherwise revise Part II and take examination later.

(signed) E. S. Mason

Jan. 30 / 33

*  *  *  *  *  *  *  *  *  *  *  *  *  *

When and Where
of the Special Examination

Special examination of Mr. Gardner [sic] C. Means
Tuesday, January 31, in 42 Holyoke House
at 4 p.m.
Professor Mason (chairman) and Chamberlin,
and Dr. Monroe

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Passed Special Examination

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
Feb. 1, 1933.

Professor W.S. Ferguson, Chairman, Division of History, Government and Economics.

Dear Professor Ferguson–

As Chairman of the Committee for the special examination of Gardiner C. Means I should like to report that the examiners were satisfied with his performance. In view of the difficulty with his thesis the examination was somewhat more extensive than usual and the Committee were unanimously agreed that Mr Means should be passed.

Sincerely yours,
[signed]
Edward S. Mason

*  *  *  *  *  *  *  *  *  *  *  *  *  *

HARVARD UNIVERSITY
The Graduate School of Arts and Sciences

24 University Hall, Cambridge, Massachusetts
February 4, 1933

Dear Wilson:

Would you bring the following matter up for formal action by the Division of History, Government, and Economics?

Mr. Gardner [sic] Coit Means was a member of the Graduate School from 1925-27, and his record on the books stands as follows:

1924-25
(2nd half)
Grades
Course
Half-Course

Economics 4b2

A minus

Economics 6b2

C

Economics 322

A

Economics 392

A minus

 

1925-26
Grades
Course
Half-Course

Economics 2

B plus

Economics 11

A

Economics 331

B

Economics 362

B

Economics 38

A minus

 

1926-27
midyears
Grades
Course
Half-Course

Economics 151

B plus

Economics 20 (J.H.W. )(2nd hf.)

absent

Economics 371

A

History 391

B minus

A.M. February 1927.

The Department of Economics recommended that in spite of the fact that this record totals only seven courses Mr. Means be regarded as having satisfied our requirement of two years of work for the Doctor’s degree. Professor Ferguson, as Chairman of the Division, when I consulted him, wrote me as follows:

“On general principles I feel like upholding the recommendation of the Department of Economics. They have the personal knowledge of Mr. Means which I lack. Though his record is one course short of the requirement for residence, he has, none the less, taken two full years of work in the Harvard Graduate School and has passed his general examination for the Doctorate. Speaking for the Division, I should say that the passing of this examination is our test. It is, I think, for you to decide whether this compensates for a deficiency in his record of courses completed.”

When I presented the letter to the Board the members felt that me should have formal action of the Division, not simply recommendation of a Department and more or less informal approval by the Chairman of the Division.

I am afraid this seems like a good deal of letter writing for
a rather simple matter, but I believe it is important to have Division action on the case. If I could have the vote before February 20 I can present the matter at the next meeting of the Board.

Sincerely yours,
[signed]
George H. Chase

Professor G. G. Wilson

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Columbia University
in the City of New York

School of Law

August 10, 1933

Secretary
Department of Goverment, History and Economics
Harvard University
Cambridge, Massachusetts

Dear Sir:

Though I took and passed the final examination and had a thesis accepted as a prerequisite to the receipt of the degree of Doctor of Philosophy, I have never received an official notice indicating that the degree has been granted to me. I have been told that my name was listed among those receiving the degree some time in February or March and I assume that it has been granted. For my records I would appreciate having a letter from an official source indicating my present status.

Very truly yours,
[signed]
Gardiner C. Means

GCM:MB

Source: Harvard University Archives. Division of History, Government & Economics, PhD. Degrees Conferred, Box 12.

__________________________

Harvard Course Names and Instructors

1924-25 (2d hf)

Economics 4b2Professor Ripley. – Trade Unionism and Allied Problems.

Economics 6b2Asst. Professor Meriam. – The Labor Movement in Europe.

Economics 322Professor Carver. – Economics of Agriculture.

Economics 392. Asst. Professor Williams. – International Finance.

1925-26

Economics 2Professor Gay. – Economic History from the Industrial Revolution.

Economics 11. Professor Taussig. – Economic Theory.

Economics 331. Professor Taussig. – International Trade.

Economics 362. Professor Bonbright (Columbia University). – Regulation of Public Utilities.

Economics 38. Professor Young. – Principles of Money and of Banking.

1926-27

Economics 151. Professor Young. – Modern Schools of Economic Thought.

Economics 20. J. H. Williams (2d hf.). Course of Research in Economics.

Economics 371Professor Persons. – Commercial Crises.

History 391. Professor Channing. – History of the United States, 1865 to 1920.

Source: Harvard University. Reports of the President of Harvard College for 1924-25, 1925-26 and 1926-27.

__________________________

Gardiner Coit Means
Timeline of his education and career

1896. Born June 8 in Windham, Connecticut.

1912-13. College preparation at the Phillips Exeter Academy.

1913-18. Harvard College, chemistry major.

1917. Enlisted in the Army. Served as 2nd lieutenant in the infantry.

1918-19 Transferred to the Signal Corps, becoming an Army pilot. Survived a plain crash in 1918 while practicing manoeuvres over Long Island.

1918. A.B. awarded by Harvard College.

1919-20. Near East Relief to aid Armenians in Turkey. Supervised a village of 1,000 orphans.

1920-22. Two years sat the Lowell Textile School in Massachusetts.

1922-29. Started and managed a factory that manufactured hand woven fine blankets.

1925-27. Graduate coursework in economics at Harvard University. Commuted to Lowell on classless days to attend to his business.

1927. A.M. in economics awarded by Harvard University.

1927. Married Caroline F. Ware (economist and college professor), June 2.

1927. Adolf A. Berle, Jr., professor at the Columbia University Law School, asks Means to join a Social Science Research Council funded project.

1932. Publication of The Holding Company – Its Public Significance and Its Regulation (with J. C. Bonbright).

1932. Publication of The Modern Corporation and Private Property with Adolf A. Berle, Jr.

1933. Ph.D. degree, Harvard University.

1933-. Adviser to the U.S. Secretary of Agriculture, Henry A. Wallace.

1935. Became a member of the Consumers’ Advisory Board of the National Rescovery Administration.

1935. Published paper, “Price Inflexibility and the Requirements of a Stabilizing Monetary Policy,” Journal of the American Statistical Association.

1935-39. Means moves to the Industrial Section of the National Resources Committee. Alvin H. Hansen displaces Means.

1938. Published Patterns of Resource Use. With statistical assistance of Dr. Louis Pardiso. National Resources Committee.

1935. Gardiner C. Means and his wife Caroline Ware bought a 74 acre farm near Vienna, Virginia.

1936. Published The Modern Economy in Action together with his wife, Caroline F. Ware.

1940-41. Fiscal Analysis in the U.S. Bureau of the Budget.

1943-58. Research Associate at the Committee for Economic Development.

1951-63. Starts up and then runs a private business raising and selling zoysia grass.

1957-1959. Research at the Fund for the Republic.

1959. Published Administrative Inflation and Public Policy. Anderson Kramer Associates, Washington, D.C.

1962. Publication of Pricing Power and the Public Interest.

1975. Published Roots of Inflation. New York: Lennox Hill Publishers.

1980. Over two thirds of their farm land given to the Northern Virginia Regional Park Authority, with the house being donated after his death. Now known as Meadowlark Gardens.

1982. Hoover Institution conference on the fiftieth anniversary of Berle and Means.

1988. Died following a stroke February 15 in Vienna, Virginia.

Image Source: Second page of passport application (January 1919) by Gardiner Coit Means  in the “Uniteds States, Passports Applications, 1795-1925” at Family Search.

Categories
Economists Harvard LSE

Harvard. Graduate Records of Economics PhD Alumnus, Lauchlin Currie, 1931

Lauchlin Currie (1902-1993) was trained by many of the top economists of his day, after which he rose to commanding heights of economic policy-making. He also swam in Soviet spy infested waters and was identified as an easily tapped deep-throated unwitting source (at best) or as a deep-state traitor (at worst) during the McCarthy era. Four of his FBI files can be downloaded at the National Archives and Records Administration. Roger Sandilands stakes a position in his excellent paper “Guilt by Association? Lauchlin Currie’s Alleged Involvement with Washington Economists in Soviet Espionage” in History of Political Economy (Fall 2000). [Copy at ResearchGate] Sandlilands lands closer to the easily-tapped-unwitting source side of the story. Also see, Currie’s testimony before the House of Representative’s Committee on Un-American Activities (August 13, 1948).

But for our purposes here Lauchlin Currie serves as just one more observation of the population of trained economists to help us learn about the intergenerational transmission and generation-by-generation production of new economic knowledge. Below you will find Currie’s graduate records from his time at Harvard.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

[Note: Boldface used to indicate printed text of the application; italics used to indicate the handwritten entries]

I. Full Name, with date and place of birth.

Currie, Lauchlin Bernard. Born Oct 8, 1902 at Bridgewater, Nova Scotia.

II. Academic Career: (Mention, with dates inclusive, colleges or other higher institutions of learning attended; and teaching positions held.)

St. Francis Xavier’s 1921-22 (Nova Scotia)
London School of Economics 1922-1925.
Harvard University, 1925-1927

III. Degrees already attained. (Mention institutions and dates.)

B. Sc (Econ.) London 1925

IV. General Preparation. (Indicate briefly the range and character of your under-graduate studies in History, Economics, Government, and in such other fields as Ancient and Modern Languages, Philosophy, etc. In case you are a candidate for the degree in History, state the number of years you have studied preparatory and college Latin.)

An ordinary first year Arts [?] course which included French, German and Latin, followed by the ordinary three years course for the B.Sc. degree at London, with honors in economic theory. The latter course included Economics, Government and History (political and economic) and Logic and Scientific Method.

V. Department of Study. (Do you propose to offer yourself for the Ph.D., “History,” in “Economics,” or in “Political Science”?)

Economics.

VI. Choice of Subjects for the General Examination. (State briefly the nature of your preparation in each subject, as by Harvard courses, courses taken elsewhere, private reading, teaching the subject, etc., etc.)

  1. Economic Theory. A two years course under Prof. Cannan at London followed by Ec. 11 at Harvard and Ec 15.
  2. Economic History since 1750. A three years course under Prof. Knowles at London on English Industry, Commerce & Colonisation, Econ. Position of the Great Powers, and Ec. 2 at Harvard.
  3. Public Finance. One course with Dr. Hugh Dalton at London and Ec. 31 at Harvard.
  4. International Trade and Tariff Policy. Ec. 38, Ec. 33 and (proposed) Ec 39 at Harvard.
  5. History of Political Theory. One course with Prof. H. J. Laski at London and Govt. 6 at Harvard.
  6. (Money, Banking and Crises.) [NOTE: this item added later]

VII. Special Subject for the special examination.

Money, Banking and Crises

VIII. Thesis Subject. (State the subject and mention the instructor who knows most about your work upon it.)

Monetary History of Canada 1914-1926.
(Prof. Young)

IX. Examinations. (Indicate any preferences as to the time of the general and special examinations.)

May 1927. [NOTE: “April 11 Monday” added later]

X. Remarks

[Added later:]

Professors Young Wright Cole (A. H.) Burbank Usher
Williams Monroe Harris

Signature of a member of the Division certifying approval of the above outline of subjects.

[signed] Allyn A. Young

*   *   *   [Last page of application] *   *   *

[Not to be filled out by the applicant]

Name: Lauchlin Bernard Currie.

Approved: November 12, 1928.

Ability to use French certified by Professor A. E. Monroe. December 8, 1926.

Ability to use German certified by Professor A. E. Monroe. December 8, 1926.

Date of general examination April 11, 1927, Passed A.A.Y.

Thesis received January 5, 1931

Read by Professor Williams and Dr. Harris

Approved January 28, 1931

Date of special examination January 30, 1931. Passed – J.H.W.

Recommended for the Doctorate Jan. 27, 1931.

Degree conferred Feb. 1931

Remarks.  [left blank]

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Certification of reading knowledge
of French and German for Ph.D.

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
Dec. 8, 1926

Mr. L. B. Currie has this day passed a satisfactory examination in the reading of French and German as required of candidates for the doctors degree.

[signed]
A. E. Monroe

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Passed General Examination

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
April 14, 1927

The Division of History, Government, and Economics:

As Chairman of the committee appointed to conduct the General Examination of Lauchlin B. Currie for the degree of Ph.D. in Economics, I beg to report that Mr. Currie passed the examination. While the candidate’s showing was in no way brilliant, the examination was, in the unanimous opinion of the committee, a perfectly clear pass.

[signed]
Allyn A. Young

AAY: CCT

*  *  *  *  *  *  *  *  *  *  *  *  *  *

Graduate School of Arts and Sciences
Record of Lauchlin Bernard Currie

HARVARD UNIVERSITY
THE GRADUATE SCHOOL
OF ARTS AND SCIENCES

24 University Hall, Cambridge, Massachusetts
January 29, 1931

Transcript of the record of Mr. Lauchlin Bernard Currie

1925-26

COURSE

GRADE

Economics 2 (1 course)

A

Economics 11 (1 course)

A

Economics 31 (1 course)

A

Economics 38 (1 course)

A

1926-27

COURSE

GRADE

Economics 151 (½ course)

A minus

Economics 20 (1½ courses)

AA

Economics 331 (½ course)

A

Economics 392 (½ course)

cr.

Government 6 (1 course)

cr.

1929-30

COURSE

GRADE

Economics 201 (1 course)

A

Mr. Currie received the degree of Master of Arts in June, 1927.

The established grades are A, B, C, D, and E.

A grade of A, B, Credit, Satisfactory, or Excused indicates that the course was passed with distinction. Only courses passed with these grades may be counted towards a degree.

*Courses marked with an asterisk are elementary and therefore may not be counted toward a higher degree.

[signed]
George K. Zipf
Assistant Dean.

Source: Harvard University Archives. Division of History, Government & Economics, PhD. Degrees Conferred, Box 11.

__________________________

Harvard Course Names and Instructors

1925-26

Economics 2Professor Gay. – Economic History from the Industrial Revolution.

Economics 11. Professor Taussig. – Economic Theory.

Economics 31Professor Bullock. – Public Finance.

Economics 38Professor Young. – Principles of Money and Banking.

1926-27

Economics 151Professor Young. – Modern Schools of Economic Thought.

Economics 20. Course of Research in Economics.

Economics 331. Professor Taussig. – International Trade.

Economics 392Associate Professor Williams. – International Finance.

Government 6. Professor McIlwain. – History of Political Theory.

Source: Harvard University. Reports of the President of Harvard College for 1925-26 and 1926-27.

__________________________

Lauchlin Bernard Currie
Timeline of his education and career

1902. Born October 8 in New Dublin, Nova Scotia, Canada.

1921-22. St. Francis Xavier’s 1921-22 (Nova Scotia)
[Note: See above in Currie’s application to Ph.D. Candidacy at Harvard. Cf. Sandilands who apparently from some other source has this as 1920-22.]

1922-25. Study at the London School of Economics. University of London. B.Sc.

1925. Begins graduate study of economics at Harvard University.

1927. A.M. awarded at Harvard.

1927-34. Instructor in Economics and Tutor in the Division of History, Government, and Economics at Harvard.

1931. Ph.D. awarded at Harvard. Thesis: Bank Assets and Banking Theory.

1931-32. Taught “International Trade and Tariff Policies,” Economics 9a 1hf, at Radcliffe.

1932-33. Co-teaches Economics 3 “Money, Banking, and Commercial Crises” with Professors Williams and Schumpeter.

1933-34.  Professor of International Economics at Fletcher Graduate School of Law and Diplomacy, Tufts University.

1934-35. Taught “Money, Banking, and Cycles,” Economics 3, at Radcliffe.

1934. Published The Supply and Control of Money in the United States. Harvard University Press.

1934. Analyst for the United States Treasury Department, under supervision of Jacob Viner.

1934-1939.  Assistant Director of Research and Statistics for the Board of Governors of the Federal Reserve System.

1939-45. Assistant on Economic Affairs to Franklin D. Roosevelt.

1941. Named head of the Economic Mission to China.

1943-44. Acting Director of the Foreign Economic Administration.

1945. Resigned from government service to enter private business.

1954. Lost U.S. Citizenship following an investigation by Senator Joseph McCarthy.

1949-93. Advisor on economic issues to the government of Colombia.

1993. Died in Colombia.

Source: Roger J. Sandilands. The Lauchlin Currie Papers at Duke University: A Review of their Significance for the History of Political Economy. July, 2003. Also some details from the FBI Freedom of Information Files linked to above.

Image Source: Portrait of Dr. Lauchlin B. Currie, Harvard Class Book 1934.

Categories
Cornell Curriculum Economists

Cornell. Frank Knight’s Cornell Coursework, 1913-1917

Almost fourteen years ago I was in the University of Chicago archives where I came across three boxes in Frank H. Knight’s papers containing his hand-written, three-by-five inch index card notes that covered presumably most, if not all, of his coursework at Cornell for the academic years 1914-15, 1915-16, and 1916-17. For some reason, I presume a time-constraint for that archival visit was involved, I did not copy the notes from his first year at Cornell (1913-14) to have a complete record of his graduate studies. This post provides an overview of the courses taken by Frank Knight and those professors who taught him. For his first year, we are all quite fortunate to have the story of Knight’s ex ante oeconomica life as told by Ross B. Emmett (2015) in his excellent, Frank H. Knight Before He Entered Economics (1885-1914).

The official Cornell course announcements were published in the Spring before the academic year began. This means there are a few discrepencies between the actual instructors identified by Knight and those found in the printed announcements. For example, Alvin Saunders Johnson left the Cornell faculty and was replaced by Thomas Sewell Adams and Herbert J. Davenport during the academic years 1915-16 and 1916-17.

Hopefully there will be time and energy later to provide summaries of course content from Knight’s detailed notes. Visitors are encouraged to sign up to receive future postings via email (see below).

____________________________

1913-14

Source: Announcement of the College of Arts and Sciences, 1913-14. Official Publications of Cornell University. Volume IV (May 15, 1913) Number 11.

Philosophy 11. Philosophical Results and Applications. First term, credit one hour. Prerequisite at least one course in philosophy. Professor [James Edwin] Creighton. S, 12, Goldwin Smith 225.

Professor James Edwin Creighton

The purpose of the course is to show how philosophical ideas enter into other departments of thought and have a bearing on concrete problems of life and society. This will be illustrated by a consideration of certain aspects of the movement of thought and civilization in the nineteenth century.

Philosophy 19. The Development of Modern Philosophical Problems. First term, credit two hours. Prerequisite either course 1, 3, 5, 7, 17, 20, or 21. Professor [James Edwin] Creighton. T Th, 12, Goldwin Smith 225.

A review and an interpretation of the leading philosophical ideas of modern schools and systems, with the purpose of tracing the evolution of philosophical conceptions, especially during the nineteenth century, in the light of the various scientific, social, and religious problems with which they are connected.

Philosophy 20. History of Ethics, Ancient, Medieval, and Renaissance. First term, credit two hours. Professor [William Alexander] Hammond. M W, 11, Goldwin Smith 220.

Professor William Alexander Hammond

Lectures and assigned readings. A history of moral ideals and reflection in antiquity, the Middle Ages, and the Renaissance, treated in connection with social and political institutions. Primarily for seniors and graduates.

Philosophy 21. History of Modem Ethics. Second term, credit two hours. Professor [Ernest] Albee. M W, 11, Goldwin Smith 220.

Professor Ernest Albee

The history of modern ethics with special reference to the development of the commonly recognized methods of ethics. The history of British ethics will receive particular attention, as illustrating the gradual differentiation of ethics as an independent science of philosophical discipline. Primarily for graduates.

Philosophy 30. Empiricism and Rationalism. First term, credit three hours. Professor [Ernest] Albee. T Th S, 11, Goldwin Smith 220.

Lectures, discussions, and essays. The empirical movement as represented by Locke, Berkeley, and Hume, and the rationalistic movement as represented especially by Descartes, Spinoza, and Leibniz, with reference to their distinctive methods. Locke’s Essay (Bohn edition, 2 vols.), Hume’s Treatise of Human Nature (Clarendon Press), and Leibniz’s Philosophical Works (Duncan’s translation, Tuttle, Morehouse & Taylor, New Haven). Primarily for graduates.

Political Science 87. The History of Economic Theory. Throughout the year, credit three hours a term. Professor [Alvin Saunders] Johnson. T Th S, 9, Goldwin Smith 264.

Professor Alvin Saunders Johnson

It is the purpose of this course to trace the main currents of economic theory from the mercantilists writers to the present day. Chief emphasis will be laid upon the development of the individualistic economic doctrines in 18th century France and England; the conditions, economic and social, upon which they were based; the consolidation of the doctrines in classical economics; and the modifications they have undergone through the influence of historical and social political criticism.

Political Science 88. Value and Distribution. Throughout the year, credit two hours a term. Professor [Alvin Saunders] Johnson. Th, 2.30, Political Science Seminary.

This course is devoted to a study of the chief problems of current economic theory, including the nature, the value, and the laws of its growth, valuation of capital and capitalization, the interest problem, wages, profits, competition, and monopoly. The works of the chief contemporary authorities will be critically studied with a view to disclosing the basis of existing divergencies in point of view.
It is desirable that students registering for this course should have a reading knowledge of German and French.

“The course description for Value and Distribution dated back several years, to the period when Frank Albert Fetter had taught the course. Fetter had completed his doctorate at the University of Halle, and was deeply engaged with economic ideas emerging from the Austrian School of Economics. Carl Menger, often considered the founder of Austrian economics, had initiated a Methodenstreit with the historicist orientation of the German Historical School, whose work had deeply influenced American economists of the late 19th century (many of whom, like Fetter, had completed Ph.Ds. in Germany). When Fetter joined Cornell’s faculty in 1901, there was an existing course on distribution, but not one on price theory generally. There had been, however, a course in reading German economic literature from the Historical School. The course was designed to enable economics students to meet the foreign language requirements Cornell had established for doctoral candidates. Fetter introduced a course in economic theory (eventually called Value and Distribution) that required students to read significant texts by French, German, and Austrian economists such as Leon Walras, Werner Sombart, Eugene Böhm-Bawerk, and Friedrich Wieser in their original language, thereby satisfying simultaneously the Graduate School’s foreign language requirement. When Alvin Johnson arrived at Cornell in 1913 (at the same time as Frank did), he inherited Fetter’s course. But Johnson, a mid-westerner educated at Columbia by John Bates Clark, was aligned more with the Anglo-American tradition of economic theorizing than he was with either the German Historical School or the Austrian School. Thus, he ignored the language requirement. Frank’s notes from Johnson’s course on the History of Economic Theory (which did not have a foreign language requirement) tell us that, one day in class, Johnson said, ‘American and English books [on economics] may contain logical fallacies, but their facts are reliable. Facts and fiction [are] indistinguishable in books like Sombart’s.’ Johnson then suggested that the doctoral requirements for economics at Cornell (and elsewhere, presumably) should state ‘that student[s] should not read German’ (from the Frank Knight Papers, Box 2, Folder 1, quoted in Howey 1983, 169, emphasis in the original).

Source: Ross B. Emmett,Frank H. Knight Before He Entered Eonomics (1885-1914). 2015.

Not registered, but audited.

Philosophy 26. Advanced Ethics. Throughout the year, credit three hours a term. Professor [Frank] Thilly. Lectures, reading, discussion, and essays. M W F, 10, Goldwin Smith 220. Primarily for graduates.  [Knight’s notes end in February]

Professor Frank Thilly

Political Science 54b. State Administration. Second term, credit three hours. Prerequisite courses 53a, 53b. Professor [Samuel Peter Orth]. M W F, 11, Goldwin Smith 256.

A study of the American state; the county and the township; the powers and functions of administrative organs, boards, and commissions; judicial control. Lectures, readings, and reports. Each student will be required to make a detailed study of some particular state. [Ross Emmett believes this course corresponds to Knight’s notes that he examined]

Professor Samuel Peter Orth

1914-1915

Source: Announcement of the College of Arts and Sciences, 1914-15. Official Publications of Cornell University. Volume V (May 1, 1914) Number 10.

Philosophy 40. Seminary in Logic and Metaphysics. T, 3-5, Goldwin Smith 231. Professor [James Edwin] CREIGHTON and Dr. [William Kelley] WRIGHT.

Dr. William Kelley Wright

[Portrait of William Kelley Wright from the 1926 Darmouth yearbook “Aegis”.]

The subject for 1914-15 will be a study of certain leading metaphysical problems in the light of recent investigations.

Philosophy 37. Seminary in Ethics. Investigation of special problems. Throughout the year, credit two hours a term, Professor [Frank] THILLY. Hours and room to be arranged.

Political Science 66a. The Labor Problem. First term, credit three hours. Prerequisite course 51. Professor [Alvin Saunders] JOHNSON. T Th S, 11. Goldwin Smith 264.

This course will present a systematic view of the progress and present condition of the working class in the United States and in other industrial countries; sketch the history and analyze the aims and methods of labor organizations; study the evolution of institutions designed to improve the condition of the working class; and compare the labor legislation of the United States with that of European countries.

Political Science 66b. Socialism. Second term, credit three hours. Prerequisite course 51, Professor [Alvin Saunders] JOHNSON. T Th S, 11, Goldwin Smith 264.

Due attention will be given in this course to the various forms of socialistic theory. Its main object, however, is to describe the evolution of the socialist movement and the organization of socialistic parties, to measure the present strength of the movement, and to examine in the concrete its methods and aims.

Political Science 76a. Elementary Statistics. First term, credit three hours. Prerequisite course 51. Professor [Walter Francis] WILLCOX. T Th S, 9, Goldwin Smith 256. Laboratory, W, 2-4, Goldwin Smith 259.

Professor Walter Francis Willcox

An introduction to census statistics with especial reference to the federal census of 1910, and to registration statistics with especial reference to those of New York State and its cities. The course gives an introduction to the methods and results of statistics in these, its best developed branches.

Political Science 76b. Economic Statistics. Second term, credit three hours. Prerequisite course 51. Professor [Walter Francis] WILLCOX. T Th S, 9. Goldwin Smith 256. Laboratory, W, 2-4, Goldwin Smith 259.

A continuation of course 76a, dealing mainly with the agricultural and industrial statistics of the United States. Mature students that have not already had course 76a or its equivalent may be admitted by special permission. The course is an introduction to statistics in its application to more difficult fields, such as production. wages, prices, and index numbers.

Political Science 90. Research in Statistics. Throughout the year, credit to be arranged. Professor [Walter Francis] WILLCOX.

[Knight describes this as “afternoon session for Grad studs.”

Political Science 65a. The Industrial Revolution in England, 1700 to 1850. First term, credit three hours. Prerequisite course 51, previously or concurrently, or work in European history. Assistant Professor [Abbott Payson] USHER. M W F, 12. Goldwin Smith 264.

Assistant Professor Abbott Payson Usher

The topography and resources of England, the Industrial Revolution, commercial expansion in the 18th century. the history of the Bank of England, the rise of London as a world metropolis.

Political Science 65b. Social and Economic Problems of the 19th Century in England. Second term, credit three hours. Prerequisite course 51, previously or concurrently. Professor [Abbott Payson] USHER. M W F, 12. Goldwin Smith 264.

The course can be followed most profitably by students who have taken course 65a, but it may be elected independently. The history of English agriculture, 1700 to 1907; the poor laws, 1834 and 1909; the coming of free trade. 1776 to 1846; railroads and rate-making; Germany and the industrial supremacy of England.

1915-1916

Source: Announcement of the College of Arts and Sciences, 1915-16. Official Publications of Cornell University. Volume VI (May 1, 1915) Number 10.

Political Science 87. Principles of Economics. Throughout the year, credit three hours a term. Professor [Alvin Saunders] JOHNSON [Apparently taught by Thomas Sewall Adams]. M W F, 11, Goldwin Smith 264. Prerequisite course 51 or its equivalent.

Professor Thomas Sewall Adams

[Photo of T. S. Adams from the University of Wisconsin Badger of 1916]

An advanced course in general economics, based upon Marshall’s Principles of Economics as a text. Especial attention will be given in this course to the laws of value and price, of wages, interest, and profit.

Political Science 64. Money and Banking. Throughout the year, credit three hours a term. Prerequisite course 51. Professor [Allyn Abbott] Young. T Th S, 10, Goldwin Smith 142.

Professor Allyn Abbott Young

A discussion of the more important phases of the theory of money and credit is followed by a consideration of selected practical problems, including the revision of the American banking system. Practical work is required in the analysis of the controlling conditions of the money market, of organized speculation in securities, and of foreign exchange.

Political Science 55a. Elementary Social Science. First term, credit three hours. Course 51 should precede or be taken with this course. Professor [Walter Francis] WILLCOX. T Th S, 9, Goldwin Smith 256.

An introductory course upon social science or sociology, its field and methods, with special reference to the human family as a social unit, to be studied by the comparative, the historical, and the statistical methods.

Political Science 55b. Elementary Social Science. Second term, credit three hours. Course 51 should precede or be taken with this course. Professor [Walter Francis] WILLCOX. T Th S, 9, Goldwin Smith 256.

A continuation of the preceding course but with especial reference to the dependent, defective, and delinquent classes. Open to all who have taken 55a and by special permission to others.

Knight’s note cards for lectures on “Valuation” are dated for either Monday or Tuesday meetings, but no more than one meeting per week. Notes for 21 meetings twelve on Mondays, nine on Tuesdays. So presumably his notes on valuation come from the following scheduled seminar courses.

Political Science 92. Research in Finance. Throughout the year, credit two or three hours a term. Professor [Allyn Abbott] YOUNG [and Thomas Sewall Adams]. T, 2.30. Goldwin Smith 269.

Individual or coöperative investigations of selected problems in money, banking, and corporation finance, in connection with lectures upon the sources of information and upon the use of appropriate methods of investigation.

Political Science 99. General Seminary. Throughout the year, credit two hours a term. Conducted by members of the department. M., 2.30-4.30, Political Science Seminary. Open only to graduate students

1916-1917

Source: Announcement of the College of Arts and Sciences, 1916-17. Official Publications of Cornell University. Volume VII (April 15, 1916) Number 10.

[1916-17 announcement] Political Science 51. Elementary Economics. Throughout the year, credit three hours a term. One lecture and two recitations each week Lectures, M, 9; repeated M, 11. Barnes Auditorium. Assistant Professor TURNER. Recitations, T Th, 8, 9, 10, 11, 12; W F, 8, 9, 10, 11, 12. Assistant Professor [Abbott Payson] USHER, Mr. CAMPBELL, Dr. WOODBURY, Mr. [Charles Roland] HUGINS and Mr. [Clarence Cameron] KOCHENDERFER. Section assignments made at the first lecture.

From the Proceedings of the Cornell Board of Trustees Meeting of May 20, 1916 “J.R. Turner, Assistant Professor of Economics resigned effective June 30”. Also note resignations of Mr. Campbell and Dr. Woodbury. So they are struck out above. Comparing this to the announcement for the staffing of the course in 1917-1918. We see that Davenport was named as lecturers with assistant professor Reed, instructor Knight, and assistant Working appearing as well. Knight’s notes for the 1916-1917 lectures explicitly mention Davenport.

[1917-18 announcement] Political Science 51. Elementary Economics. Throughout the year, credit three hours a term. One lecture and two recitations each week. M, 9; M, 11. Barnes Auditorium. Professor [Herbert Joseph] DAVENPORT. Recitations, T Th, 8, 9, 10,11, 12; W F, 8, 9, 10, 11, 12. Assistant Professors [Abbott Payson] USHER and [Harold Lyle] REED, Dr. [Frank Hyneman] KNIGHT, Mr. [Charles Roland] HUGINS, Mr. [Clarence Cameron] KOCHENDERFER, and Mr. [Holbrook] WORKING. Section assignments made at the first lecture.

Professor Herbert Joseph Davenport

An introduction to economics including a survey of the principles of value, money, banking, and prices; international trade; free trade and protection, wages and labor conditions; the control of railroads and trusts; socialism, principles and problems of taxation.

Political Science 57b. Lectures on Citizenship. Second term, credit two hours. M W, 12, Goldwin Smith B.

A lecture each Monday by a non-resident lecturer and each Wednesday by a member of the Department. The course has been arranged by a committee of Alumni who are actively engaged in civic and social work and who are coöperating in this way with the Department. It will follow the same general plan as last year, but the speakers and most of the subjects treated will be changed.
The course will be under the general charge of Professor Orth. Reading, reports, and essays will be required.

Political Science 88. Value and Distribution. Throughout the year, credit two hours a term. Professor [Alvin Saunders] JOHNSON. F, 2.30, Political Science Seminary.
[Johnson had resigned from the faculty, notes indicate that Davenport led the seminary that Knight has notes from October 21, 1916 through February 3, 1917.]

A study of the chief problems of current economic theory. The works of the chief contemporary authorities will be critically studied with a view to disclosing the basis of existing divergencies in point of view. It is desirable that students registering for this course should have a reading knowledge of German and French.

Political Science 89. Mathematical Economics. Throughout the year, credit two hours a term. Professor [Allyn Abbott] YOUNG. Hours to be arranged.

The use of mathematics in economic analysis, with special reference to the work of Cournot, Jevons, Edgeworth, Walras, Pareto, Auspitz and Lieben, and Fisher. Primarily for graduates.

Political Science 63a. Corporation Finance. First term, credit three hours. Prerequisite course 51. Professor [Allyn Abbott] YOUNG. T Th S, 11, Goldwin Smith 256.

A study of the business corporation, with special reference to its economic significance and effects and to the problems of its legal control, including an  analysis of the financial operations of railroads, public utilities, and industrial corporations.

History 54. Economic History of the Colonies, 1600 to 1800. First term, credit three hours. Professor [Charles Henry] HULL. T Th S, 9, Goldwin Smith 234.

Professor Charles Henry Hull

Colonization and settlement as business enterprises: the agricultural conquest of the coast: the competition between slave, indentured, and free labor; the commerce of the British Empire and its relation to the American Revolution. Textbooks, reading. reports, and lectures.

History 55. Economic History of the United States, since 1800. Second term, credit three hours. Professor [Charles Henry] HULL. T Th S, 9, Goldwin Smith 234.

Commerce during the European wars; the introduction of manufactures; the westward movement; industrial differentiation of the sections; agriculture for export; the amalgamation of railways and the combination of industries. Textbooks, reading, reports, and lectures.

Philosophy ??. Seminary of Professor [James Edwin] Creighton.

[Note cards for eight sessions in April and May 1917]

Image Source: Portrait of Frank Knight (1930 Fellow) at the John Simon Guggenheim Foundation website. Most of the professors’ portraits were found in the Cornell Classbook (various years). Many of the portraits have been digitally enhanced by Economics in the Rear-view Mirror.