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Harvard. Seven Personal Reports to the Class of 1879, Frank Taussig. 1882-1914


Serendipity struck again during an unrelated search of hathitrust.org. This time I stumbled across Harvard class reports  (i.e. B.A. cohorts) irregularly submitted by the secretaries of the respective classes and published as part of the annual Harvard commencement exercises (e.g. for the Class of 1879). I decided to sample the reports for the biggest gun in the Harvard economics department at the turn of the 20th century, Frank W. Taussig, and was delighted to find what turns out to be essentially personal notes written to his classmates about the course of  his post-undergraduate career. Today I provide Taussig’s notes from the second through eighth reports of the Class of 1879.

In a later post  I shall provide information about Taussig’s undergraduate life from information culled from the Class of 1879/Secretary’s Report/No. I./1879.

________________________________

1882

[p. 98-99]

FRANK WILLIAM TAUSSIG.

“In September, 1879, I went abroad with E. C. Felton. After spending a few weeks together in London, we separated. I went to Germany, and spent a winter, from October till March, at the University of Berlin, studying Roman Law and Political Economy. In March, I left Germany, and rejoined Felton in Italy. We spent two months together in Italy, and then went to Paris, by way of Geneva. In Paris, in May, we again separated, Felton going to England, on his way home, while I travelled in different parts of Europe, chiefly in Austria and Switzerland. I returned to America in August, 1880. In September, 1880, I went to Cambridge, intending to enter the Law School. The position of secretary to President- Eliot was offered me and accepted. Since this time, I have continued to act as secretary to the President, and have, at the same time, studied for the degree of Ph.D., which I hope to obtain in June, 1883. The special subject which I have studied for the degree has been the History of the Tariff Legislation of the United States. In March, 1882, was appointed instructor in Political Economy, in Harvard College, for the year 1882-83. While in Europe, wrote some articles, which were published in the New York Nation.”

 

Source: Harvard College. Class of 1879. Secretary’s Report. No. II. Commencement, 1882.

________________________________

1885

[pp. 34-35]

EDGAR CONWAY FELTON.

(April 26.)—” You will remember that my communication for the last Triennial Report reached you too late for insertion, so I will begin my contribution to your second report with my graduation.

“In September, 1879, Frank Taussig and I started for Europe together. We stayed in London about a month enjoying ourselves hugely, and among other short excursions going to Oxford, where I had a cousin, an undergraduate in New College, who gave us rather exceptional facilities for observing this the oldest of the English Universities. In London we separated, I going to Paris where I stayed about six weeks, sight-seeing and attending occasional lectures at the University. From Paris I went to Vienna, stopping on the way at Munich. Christmas and New Year’s I was in Vienna with my uncle, who has lived there for about thirty years. Then I went south to Rome, where I found Ned Hale, and many a pleasant walk and talk we had together in the Eternal City. Here Frank Taussig joined me again, having finished a semester at the University, and we started off together, going though the Italian cities, making the tour of the Italian lakes, and crossing into Switzerland by the Simplon. After a short stay in Paris I started for home, taking a run through some of the cathedral towns of England and into Scotland on the way…

 

[pp. 65-66]

FRANK WILLIAM TAUSSIG.

(February 8.)—” I have lived in Cambridge since the date of the last Class Report. In 1882 I was appointed instructor in Political Economy in Harvard College, and devoted my time for the year 1882-3 entirely to teaching, and work of that kind. In the course of that year I published an essay on ‘Protection to Young Industries as Applied in the United States,’ which gave the results of investigations in the economic history of the country in the years 1789-1830. In June, 1883, I received the degree of Doctor of Philosophy from Harvard University.

“In the fall of 1883 I entered the Harvard Law School with the intention of taking the regular three years course, and of practising after I got through the school. At the same time I continued my connection with the college as instructor in Political Economy, having been re-appointed to that office. I gave a course on the Tariff History of the United States, a subject to which I have given special attention. During the past year (1884-5) I have continued my studies in the Law-School as a second-year student, and have also continued as instructor in the college, giving the same course as in the previous year.

“In 1884, I wrote an introductory notice to the English translation of Laveleye’s ‘Elements of Political Economy,’ and added a supplementary chapter on some economic questions of present practical importance. In 1885 I published a second small volume on economic history, this being a ‘History of the Existing Tariff. It gives an account of the tariff legislation of the country from 1860 to 1883, with more or less comment from the point of view of one who adheres to the principle of free trade. I have written occasionally for the newspapers, on economic questions, chiefly for the Boston Herald and Advertiser, and a little for the New York Nation. I have been, and am still, a member of the committee to edit the Civil Service Record, a monthly paper published for the promotion of civil service reform, and have written regularly for it.”

Is a member of the Massachusetts Reform Club, and of the Cobden Club. Since April 1 has conducted the course on American History in the college during the absence of Hart.

 

Source: Harvard College. Class of 1879. Secretary’s Report. No. III. Commencement, 1885.

________________________________

1890

[p. vi-viii]

…In 1886 our classmate Taussig was appointed Assistant Professor of Political Economy, a signal honor for so young a man, the next to the youngest in the class. In April of that year a movement was started in the class to raise funds to equip a special library and reading-room for the Political Economy department of the college, the money to be used under Taussig’s direction. Six hundred and seventy-five dollars and seventy cents was raised and formally presented to the President and Fellows of Harvard College, and gratefully accepted by them.

The names of the subscribers are as follows, the subscriptions ranging from one to one hundred dollars: Almy, Andrews, Amen, Baily, Baylies, Bissell, Brooks, Burr, Carey, Cary, Churchill, R. W. Ellis, Evans, Felton, Gilbert, Hale, S. H. Hill, Hoadly, Holmes, Hubbard, Hudson, Hyde, Keene, Kidder, C. J. Mason, McLennan, Rindge, Sheldon, Somerby, St. John, H. Stetson, Taussig, Thorp, Trimble, Urquhart, Warren, Wright.

In June, 1887, Taussig furnished the following account of the way the money had been used and the practical working of the room:

“Of the sum contributed by members of the class ($675.70), about $400 has so far been expended for books. We have gone slowly in buying books, as needs change from time to time and better selection was likely to be got by buying when a want arose, rather than by anticipating wants. A considerable number of books will probably be added next year, but even as it stands, the collection is fairly complete for certain courses, and is exceedingly useful. It contains the works of the classic economists, like Adam Smith, Ricardo, Malthus most of them in duplicate; and also the works of the leading economists of more recent times, such as Cairnes, Sidgwick, Marshall, Jevon, Rogers, Walker, among English writers; Wagner, Cohn and Schoenberg, among German; and Bastiat and Leroi-Beaulieu among French. Many of these also are duplicated. There is a good working collection on tariff and financial matters for the United States, on railroads and on economic history in general. A considerable number of dictionaries and books of reference have been put in, such as ‘Lalor’s Political Science Cyclopaedia,’ the French ‘Dictionnaire d’Économie Politique,’ McCulloch’s “Commercial Dictionary,’ Kolb’s ‘Condition of Nations.’

“In addition there are a number of government publications, which are by no means the least useful part of the library. Besides the statistical abstracts of the United States, England and France, there are sets of United States Census Reports (including a full set of the census of 1880), Massachusetts Census Reports, the Finance Reports (U. S.) since 1870, Reports of the Comptroller of the Currency since 1876, the Statutes at Large, a full set of the Massachusetts Labor Reports, documents and reports on railroads and tariff legislation, and important foreign documents, such as the well-known British Reports on the Depreciation of Silver (1876) and on Railroads (1881). Among the periodicals kept on file are the Financial Chronicle, The Railroad Gazette, The Political Science Quarterly and our own [Quarterly] Journal of Economics.

“The library has undoubtedly been of great service to instructors and students. It has been very freely used by the latter, and it has been a frequent and pleasant experience to hear their expressions of acknowledgment of the aid and pleasure it has given them.

“It is interesting and significant that a similar plan is to be put in operation next year in the department of American History and Politics. A Working Library is to be provided, and will probably be put in the room now used for the Political Economy Library, so that the two will be used together. The money comes in a way from our class, being given in memory of our classmate, Glendower Evans, whose death last year made so sad a gap in our ranks.”

Each volume bears a neat book plate stating that it is given by members of the Class of 1879 to the Political Economy Department.

 

[pp. 86-88]

FRANK WILLIAM TAUSSIG

(Cambridge, April 2.)—”In 1885-86 I took my third year at Harvard Law School, receiving the degree of LL. B. in June, 1886. But some months before this I had been offered and had accepted an appointment as Assistant Professor of Political Economy in Harvard University, and in the fall of 1886 entered on the duties of that position. Since then I have lived the uneventful life of a college teacher. I was so fortunate as to be appointed just in time to take part in the celebration of the 250th anniversary of the founding of the University, and, being then the youngest member of the faculty, seem to have a better chance than any other member of taking part in the 300th anniversary when that comes around.

“On June 29, 1888, I was married at Exeter, N. H., to Edith Thomas Guild, of Boston, daughter of George Dwight Guild, of the class of ’45, and of Mary Thomas Guild (now Mrs. William H. Gorham). On May 3, 1889, we had born a son, William Guild Taussig. During the past summer (1889) we have built a house on land formerly belonging to Professor Norton, off Kirkland Street, and hope to live here in peace and quiet for many years to come.

“In connection with my teaching work, I have written and published on economic topics. Most of my writing has been for the Quarterly Journal of Economics, which was established by the University in 1886. In 1888 I published a volume entitled, ‘The Tariff History of the United States,’ made up, with revisions and additions, of the two smaller books published previously (on ‘Protection to Young Industries’ and on the ‘History of the Present Tariff’), and of the two other essays on tariff history mentioned in the subjoined list, which I have prepared at the request of our inquisitive Secretary. During the year 1889-90, in the absence of Professor Dunbar, I have edited the [Quarterly] Journal of Economics.

“In 1888 I was elected a fellow of the American Academy of Arts and Sciences. I am also a member of various scientific societies, to which my work naturally leads me, such as the American Economic and Historical Associations and the Political Economy Club. The list of my publications since 1885, not including minor articles in periodicals, is, in chronological order:

( 1) “Translation, with comment, of Wagner on the Present State of Political Economy; Quarterly Journal of Economics, October, 1886.

(2) “The Southwestern Strike of 1886; ibid., January, 1887.

(3) “Translation of Soetbeer’s Materials on the Silver Question, undertaken for the government, and published in Mr. Edward Atkinson’s Report on Bi-metallism, 1887.

(4) “A Suggested Re-arrangement of Economic Study; Quarterly Journal of Economics, January, 1888.

(5) “The Tariff of 1828; Political Science Quarterly, March, 1888.

(6) “The Tariff, 1830-1860; Quarterly Journal of Economics, April, 1888.

(7) “The Tariff History of the United States; New York, G. P. Putnam’s Sons, 1888.

(8) “How the Tariff Affects Wages; The Forum, October, 1888.

(9) “Some Aspects of the Tariff Question; Quarterly Journal of Economics, April, 1889.

(10) “Political Economy and Business; The Harvard Monthly, June, 1889.

(11) “Workmen’s Insurance in Germany; The Forum, October, 1889.

(12) “The Silver Situation in the United States; Quarterly Journal of Economics, April, 1890.

“I have also done a good deal of miscellaneous editorial work on the Quarterly Journal of Economics in arranging letters and appendix matter, and in writing notes and memoranda, and have written occasionally for the Nation and other papers. My address is 2 Scott Street, Cambridge, Mass.”

 

Source: Harvard College. Class of 1879. Secretary’s Report. No. IV. Commencement, 1890.

________________________________

1895

[pp. 95-8]

FRANK WILLIAM TAUSSIG.

(Florence, Italy, April 9.)—Since our last report, my life has moved in the easy current of the University stream, in which it seems likely to remain for the rest of my days. In 1892 I was promoted from the Assistant Professorship, which I then held, to a Professorship of Political Economy, and in the following year was made Chairman of the Department of Economics. As the tenure of a professorship is for good behavior, and as I trust I shall neither behave ill nor become useless to the University, I may hope to live in Cambridge and work for Harvard until I die.

“Among domestic happenings, I can report the birth of a second child, Mary Guild Taussig, on May 8, 1892.

“Becoming entitled, under the University regulations, to a sabbatical year, I determined to take advantage of the opportunity, and accordingly am spending this year (1894-95) in Europe. We left home in early October, and sailed direct for the Mediterranean. After a stop at Gibraltar and a glimpse of Spain, we proceeded to Naples, and remained for over two months in Southern Italy. I took a flying trip to Sicily, but spent most of the time with my family at the Island of Capri, which I can recommend to weary travelers in search of quiet and peace, beautiful scenery, healthful air, and quaint people. Thence we moved to Rome, where another two months passed pleasantly and where I learned something of Italian public affairs and of Italian economic literature. During the winter I have added to my professional equipment by acquiring a reading knowledge of Italian. We are in Florence at this writing and shall move north with the season.

“Among other happenings which have left an impression in my memory, I mention a trip to Washington in 1892, as member of a committee sent from Boston to protest against threatened legislation for free silver. I got a glimpse of President Harrison and of other prominent public men, which was interesting and instructive. Of a very different sort, but no less interesting, and much more satisfactory in its tangible results, was a trip to the woods of Maine in the summer of 1894, with R. W. Lovett, ’91, during which I first experienced the delights of trout fishing.

“In University politics, I am a firm advocate of the shortening of the College course to three years, and of the modification of the admission requirements in such manner as no longer to give Greek any preference or premium among the subjects that may be offered by candidates. On the vexed athletic question I have made a confession of my faith in an article in the Graduate Magazine for March of this year. In University finances I am a firm believer in the endowment of higher education in general, of Harvard University in particular, and of the Political Economy Department of Harvard University in special particular. In politics I am a disgusted independent, awaiting the appearance of a new party that shall stand squarely on the platform of a moderated tariff, sound money, and, above all, civil service reform and honest government. I may mention here that in 1893-94 I was a member of the School Committee of the City of Cambridge, and should have gladly continued to fill that modest public office had not the sabbatical vacation made it necessary for me to resign.

“The tale of my interests and activity is best told by my publications. Residing, as I do, far away from home, I cannot give any such a complete list of them as the ever methodical Almy would wish, but can recall enough to indicate what subjects have occupied my attention. In 1892 a second edition of my ‘Tariff History of the United States’ was published, in review and much enlarged form. In 1891 (I am not sure of the exact date) appeared a monograph on the ‘Silver Situation in the United States,’ first issued by the American Economic Association, and afterwards published in a second and enlarged edition by the firm of Putnam’s. I have contributed freely to periodicals, and especially to the Quarterly Journal of Economics, published by the University. In that journal I recall the following papers: ‘A Contribution to the Theory of Railway Rates,’ 1891; ‘Reciprocity,’ 1892; ‘The Duties on Wool and Woolens,’ 1893; ‘The Wages-Fund Doctrine at the Hands of German Economists,’ 1894. I gave aid and comfort to the enemy in 1893 by contributing to the Yale Review an article on ‘Recent Investigations on Prices in the United States.’ In 1894 there appeared, simultaneously in the Economic Journal of England and the Political Science Quarterly of New York, a paper on ‘The Tariff of 1894.’ My very last article is on ‘II Tesoro degli Stati Uniti’ (The Treasury of the United States), which appeared in the Giornale degli Economisti in March, 1895. This I will confess not to have written in Italian; it was translated from my manuscript. I may mention that in 1890-91 this same Italian Giornale degli Economisti had an article of mine on the McKinley tariff act, which was afterwards translated in the English Economic Journal, and finally became the basis of the chapter on the tariff of 1890 in the second edition of my ‘ Tariff History.’ During this winter (1894-95) I have been at work completing a book on ‘Some Aspects of the Theory of Wages,’ which I hope to give to the press on my return home in the autumn.

“I am the American correspondent of the British Economic Association, and in that capacity have contributed various shorter articles to the journal published by that Association. I am told that the position as correspondent has caused me to be regarded in some quarters as a suborned and traitorous enemy to American prosperity, but I am content to accept it as an honorable appointment from a body of distinguished men of science.

“My address is 2 Scott street, Cambridge, off Kirkland street, where classmates who may pilgrimize it to Cambridge will always be welcome.”

 

[pp. 134-5]

Taussig.—

“The Tariff History of the United States.” First edition, New York, 1888; second revised and enlarged edition, New York, 1892. (Of this volume, two parts had previously appeared in independent form; an essay on “Protection to Young Industries, as Applied in the United States,” in two editions, Cambridge, 1883, and New York, 1884; and a “History of the Present Tariff, 1860-1883,” New York, 1885. The other parts of the volume had also been previously published in the form of periodical articles for the Quarterly Journal of Economics and for the Political Science Quarterly. All were revised for the first and second editions of the book.)

“The Silver Situation in the United States.” First edition, Baltimore, 1892 (in the publications of the American Economic Association); second revised and enlarged edition, New York, 1893.

“Introductory Note and Supplemental Chapter to Laveleye’s Elements of Political Economy,” New York. 1884.

“Translation of Soetbeer’s Materials toward the Elucidation of the Economic Questions Affecting the Precious Metals,” undertaken for the Department of State. U. S. Senate Executive Documents, Fiftieth Congress, first session, No. 34, pp. 57-286, 1888.

“The Southwestern Strike of 1886,” Quarterly Journal of Economics, January, 1887.

“Prices in Great Britain, Germany, France and the United States,” (with J. L. Laughlin), Quarterly Journal of Economics, April, 1887.

“The Tariff Literature of the Campaign of 1888,” Quarterly Journal of Economics, January. 1889.

“A Contribution to the Theory of Railway Rates,” Quarterly Journal of Economics, July, 1891.

“Reciprocity,” Quarterly Journal of Economics, October, 1892.

“Recent Literature on Protection,” Quarterly Journal of Economics, January, 1893.

“The Wages Fund Doctrine at the Hands of German Economists,” Quarterly Journal of Economics, October, 1894.

“Recent Discussions on Railway Management in Prussia,” Quarterly Journal of Economics, October, 1894.

“How the Tariff Affects Wages,” Forum, October, 1888.

“Political Economy and Business,” Harvard Monthly, June, 1889,

“Workmen’s Insurance in Germany,” Forum, October, 1889.

“The Working of the New Silver Act of 1890,” Forum, October, 1890.

“La Tarifa McKinley,” Giornale degli Economisti, January, 1891. “The McKinley Tariff Act,” a translation of the preceding; Economic Journal, July, 1891.

”The Homestead Strike,” Economic Journal, June, 1893.

“Why Silver Ceases to be Money,” Popular Science Monthly, Sept., 1893.

“Results of Recent Investigations on Prices in the United States,” Yale Review, November, 1893. Also printed in the Bulletin of the International Statistical Institute.

“The United States Tariff of 1894,” published simultaneously in the British Economic Journal for December, 1894, and in the Political Science Quarterly of New York, for December, 1894.

“II Tesoro degli Stati Uniti,” Giornale degli Economisti, April, 1895.

In addition various articles and book reviews in the Nation, book reviews in the Political Science Quarterly, and notes and memoranda in the Quarterly Journal of Economics.

 

Source: Harvard College. Class of 1879. Secretary’s Report. No. V. Commencement, 1895.

________________________________

1900

[pp. 99-100]

FRANK WILLIAM TAUSSIG.

(Cambridge, May 4.)—”My last biographical instalment for our reports was written in April, 1895, at Florence, Italy, in the course of a sabbatical year spent abroad. I returned to Cambridge in September of 1895, and since then have been steadily in academic harness; and the happenings in my life have been such as naturally come to a University Professor. I have had plenty of work to do in teaching, for the resort of students to the department of political economy is large and growing. The introductory course (what used to be Political Economy —now Economics) has over 500 students, and the more advanced courses have numbers in proportion. The lectures to these 500 men — the instruction is now in good part by lectures — I find a serious tax on my strength, but also a great source of satisfaction, since they give an inspiring opportunity of reaching the mass of the undergraduates.

“A good part of my time of late years has been given to my editorial duties on the Quarterly Journal of Economics, the University’s publication in my subject. In 1896, Professor Dunbar resigned from the post of editor, to which I was appointed by the corporation. The Journal attained high repute among students of economics under Professor Dunbar’s management, and it is my endeavor to maintain the standard which he set. I have also acted, since 1896, as Chairman of the Publication Committee of the American Economic Association, and in that capacity have had still further editorial and administrative work to do. In 1897 I was appointed by Governor Wolcott member of a commission to examine and report upon the laws on taxation in the State of Massachusetts, and, being chosen Secretary of the commission, gave much time and labor to its investigations. Indeed, the report of the commission, though it presented, of course, not my own conclusions but those of the commission as a whole, was drafted almost entirely by myself, and occupied me throughout the summer of 1897. In the winter of 1897, and again in 1898, I was sent to the Indianapolis Monetary Convention as delegate from the Boston Merchants’ Association. In 1896 I was elected a member of the School Committee of the City of Cambridge, and have served on the committee since that date.

“This year (1900) wrote three considerable articles in consecutive numbers of the Quarterly Journal of Economics,— two on the ‘Iron Industry of the United States,’ one on the ‘New Currency Act’ wrote another article on the ‘Currency Act’ for the British Economic Journal; prepared an article on ‘Tariffs’ for the new edition of the Cyclopedia Britannica; and delivered a Commencement Address on ‘Education for the Business Man’ before the University of Missouri, on July 4th.

“I append a list of my writings [see Bibliographical Record], which indicates what subjects have chiefly engaged my attention.”

Married in 1888: one son, three daughters.

 

[p. 130]

Taussig.—

“Wages and Capital: An Examination of the Wages Fund Doctrine,” New York, D. Appleton & Co., 1896.

Also, new editions of older books:

“The Silver Situation in the United States,” third enlarged edition, New York, Putnam’s, 1896.

“The Tariff History of the United States.” Fourth enlarged and revised edition, New York, G. P. Putnam’s Sons, 1898.

Articles in the Quarterly Journal of Economics, published for Harvard University:

“The Employer’s Place in Distribution” ; Vol. X., October, 1895.

“Rabbeno’s ‘American Commercial Policy'”; Vol. X., October, 1895.

“The International Silver Situation”; Vol. XI., October, 1896.

“The Tariff Act of 1897”; Vol. XII., October, 1897.

“The United States Treasury in 1894-96” ; Vol. XIII., January, 1899.

“The Iron Industry in the United States: I. A Survey of Growth; II. The Working of Protection”; Vol. XIV., February and August, 1900.

“The Currency Act of 1900 ” ; Vol. XIV., May, 1900.

”Bond Sales and the Gold Standard,” Forum, November, 1896.

“The United States Tariff Act” (of 1897), British Economic Journal, December, 1897.

“The Taxation of Securities” (an address delivered at the University of Michigan), Political Science Quarterly, March, 1899.

“The Problem of Secondary Education, as Regards Training in Citizenship,” Educational Review, May, 1899.

“Charles Franklin Dunbar” (an obituary sketch), Harvard Monthly, February, 1900.

 

[p. 137]

MARRIAGE AND BIRTH RECORD

TAUSSIG EDITH THOMAS GUILD Exeter, N.H., June 20, 1888
William Guild Cambridge, Mass., May 3, 1889.
Mary Guild Cambridge, Mass., May 8, 1892.
Catharine Crombie Cambridge, Mass., Dec. 8, 1896.
Helen Brooke Cambridge, Mass., May 24, 1898.

 

 

Source: Harvard College. Class of 1879. Secretary’s Report. No. VI. Commencement, 1900.

________________________________

1905

[pp. 112-3]

FRANK WILLIAM TAUSSIG (Cambridge, Massachusetts, May 10). “I am sorry to say that I have not much to show for the last five years. In 1901 I felt seriously the strain of overwork, and was compelled to spend two years in complete idleness. I went abroad with my family in the autumn of 1901, expecting to need only one year for recovery; but a second year proved to be needed, and it was not until 1903 that we returned. We spent the first winter at Meran, in the Austrian Tyrol, the summer of 1902 in Switzerland, and the greater part of the winter of 1902-03 on the Italian Riviera. In the autumn of 1903 I resumed my work in the University, and was able to carry on my teaching work, but not to do a great deal besides. During the current academic year (1904-05), I have been able to accomplish more, but do not yet feel that I have recovered full working strength.

“In the course of 1899-1900 I published in the Quarterly Journal of Economics two articles on the ‘Iron Industry in the United States,’ and a third article on the ‘Currency Act of 1900.’ These were the last things I was able to achieve for a considerable time. In 1904 I was elected President of the American Economic Association, and prepared a presidential address, which was delivered at the meeting of the Association at Chicago in December, 1904, on the ‘Present Position of the Doctrine of Free Trade.’ Having been re-elected President of the Association, I am now preparing a second address, to be delivered in 1905. I resumed the editorship of the Quarterly Journal of Economics, which continues to flourish, and holds, I believe, no unworthy place among the publications of the University.

“In 1901 the title of my post in the University was changed, or rather my appointment was changed. Having previously simply been Professor of Political Economy, I was made Henry Lee Professor of Economics. The Lee professorship was founded by the widow and children of the late Colonel Henry Lee, and is the first endowed professorship established at the University in my subject.”

 

Source: Harvard College. Class of 1879. Secretary’s Report. No. VII., 1905.

________________________________

1914

[pp. 293-8]

FRANK WILLIAM TAUSSIG, son of William and Adèle (Würpel) Taussig, was born at St. Louis, Missouri, December 28, 1859. He entered Harvard from Washington University in October, 1876, as a sophomore.

In September, 1879, he went abroad with E. C. Felton. After a few weeks together in London they separated, and Taussig went to Germany, where he remained until March, 1880, studying Roman law and political economy at the University of Berlin. In March he again joined Felton, and spent the next two months with him in Italy and at Paris. In May they again separated, and Taussig traveled for a time in Europe, chiefly in Austria and Switzerland. During his stay in Europe he wrote several articles for the New York Nation. He returned to America in August, and in September went to Cambridge, intending to enter the Law School; but the position of secretary to President Eliot was offered him, and he accepted it and at the same time began study for the degree of Ph.D., selecting as his special subject the history of the tariff legislation of the United States. In March, 1882, he was appointed instructor in political economy at Harvard for the year 1882-83. He resigned his secretaryship and during the next year devoted all his time to his teaching and the work connected with it. “In the course of that year,” he wrote, “I published an essay on ‘ Protection to Young Industries as Applied in the United States,’ which gave the results of investigations in the economic history of the country in the years 1789-1830. In June, 1883, I received the degree of Ph.D. from Harvard University.” In the fall of 1883 he entered the Harvard Law School, “with the intention of taking the regular three years’ course and of practising after I got through the School.” At the same time he continued his work as instructor in political economy, giving a course on the tariff history of the United States. “In 1884 I wrote an introductory notice to the English translation of Laveleye’s ‘Elements of Political Economy’ and added a supplementary chapter on some economic questions of present practical importance. In 1885 I published a second small volume on economic history, this being a ‘ History of the Existing Tariff.’ It gives an account of the tariff legislation of the country from 1860 to 1883, with more or less comment from the point of view of one who adheres to the principle of free trade.” He wrote at this time occasionally for the Boston Herald and Advertiser and for the Nation and was a member of the committee to edit the Civil Service Record, a. monthly paper published for the promotion of civil service reform, and wrote regularly for it. He joined the Massachusetts Reform Club and the Cobden Club. During the spring of 1885 he conducted the course on American history at Harvard in the absence of A. B. Hart, ’80, the regular instructor.

In June, 1886, he graduated from the Law School, with the degree of LL.B. Meanwhile he had been offered and had accepted an appointment as assistant professor of political economy at Harvard, and in the fall of 1886 entered on the duties of that position. “Since then,” he wrote in 1890, “I have lived the uneventful life of a college teacher. … In connection with my teaching work, I have written and published on economic topics. Most of my writing has been for the Quarterly Journal of Economics, which was established by the University in 1886. In 1888 I published a volume entitled ‘The Tariff History of the United States,’ made up, with revisions and additions, of the two smaller books published previously . . . and of the two other essays on tariff history” (on “The Tariff of 1828,” published in the Political Science Quarterly for March, 1888, and “The Tariff, 1830-1860,” published in the Quarterly Journal of Economics for April, 1888). During the year 1889-90, in the absence of Professor Dunbar, he edited the [Quarterly] Journal of Economics. In 1888 he was elected a fellow of the American Academy of Arts and Sciences. He had also become a member “of various scientific societies, to which my work naturally leads me, such as the American Economic and Historical associations and the Political Economy Club.”

In 1892 he was made professor of political economy at Harvard and, in the following year, chairman of the department of economics. In 1892 he went to Washington as a member of a committee sent from Boston to protest against threatened legislation for free silver. “I got a glimpse of President Harrison and of other prominent public men, which was interesting and instructive. Of a very different sort, but no less interesting and much more satisfactory in its tangible results, was a trip to the woods of Maine in the summer of 1894 with R. W. Lovett, ’91, during which I first experienced the delights of trout fishing.” The year 1894-95 he spent in Europe with his family, remaining for two months in southern Italy and then passing two months in Rome before going further north. He continued to contribute freely to various periodicals, especially to the Quarterly Journal of Economics. “I gave aid and comfort to the enemy in 1893 by contributing to the Yale Review an article on ‘Recent Investigations on Prices in the United States.’ . . . My very last article,” he wrote from Florence, Italy, in April, 1895,” is on ‘ II Tesoro degli Stati Uniti’ . . . which appeared in the Giornale degli Economisti in March, 1895. This I will confess not to have written in Italian; it was translated from my manuscript.” In 1890-91 he had published an article in the Giornale on the McKinley tariff act, which was afterwards translated in the English Economic Journal, and finally became the basis of the chapter on the tariff of 1890 in the second edition of his

“Tariff History.” As the American correspondent of the British Economic Association he had contributed various articles to the journal published by the association. “In politics,” he wrote at this time, “I am a disgusted independent, awaiting the appearance of a new party that shall stand squarely on the platform of a moderated tariff, sound money and, above all, civil service reform and honest government…. In 1893-94 I was a member of the school committee of the city of Cambridge, and should have gladly continued to fill that modest public office had not the sabbatical vacation made it necessary for me to resign.”

In 1896 Professor Dunbar resigned as editor of the Quarterly Journal of Economics, and Taussig was appointed by the President and Fellows to succeed him. In the same year he was made chairman of the Publication Committee of the

American Economic Association, involving much editorial and administrative work. In 1897 he was appointed by Governor Wolcott member of a commission to examine and report upon the laws on taxation in the State of Massachusetts, and as secretary of the commission gave much time and labor to its investigations. The drafting of its report was almost entirely his work and occupied him throughout the summer of 1897. In the winter of 1897, and again in 1898, he was sent to the Indianapolis Monetary Convention as delegate from the Boston Merchants’ Association. In 1896 he had been elected again a member of the school committee of Cambridge, and was still serving on the committee when he wrote for the Class Report of 1900. Besides articles in the Quarterly Journal of Economics, he had written an article on the “Currency Act” for the British Economic Journal, had prepared an article on “Tariffs” for the new edition of the Encyclopedia Britannica and had delivered a commencement address on “Education for the Business Man” before the University of Missouri, July 4, 1900. In 1901 he was appointed to the newly established Henry Lee professorship of economics, founded in memory of the late Colonel Henry Lee by his widow and children, and the first endowed professorship established at Harvard in the department of economics. That year the strain of overwork compelled him to go abroad for rest. After two years in Europe with his family he returned, and in the fall of 1903 resumed work in the University. In 1904 he was elected president of the American Economic Association, and at its annual meeting at Chicago in December, 1904, delivered an address on ” The Present Position of the Doctrine of Free Trade,” which was printed in the Publications of the Association, February, 1905. He was reelected president of the Economic Association, and at the annual meeting in December, 1905, delivered an address on “The Love of Wealth and the Public Service,” which was printed in the Publications of the Association, February, 1906, and also in the Atlantic Monthly for March, 1906.

He writes, July 28, 1912, “My life during the past seven years has been quiet, the winters at work in Cambridge, the summers spent at our house at Cotuit. I continue to conduct nearly the same courses as in previous years, and give a large part of my energy to Economics I, the first course in the subject, and now the largest elective course on the College list. It is the policy of our department, and indeed of the College in general, not to put the much frequented general courses into the hands of young instructors, but to keep them under the older and more experienced members of the teaching staff. Not a few descendants of ’79 have sat under me during the past decade. In the spring of 1912 I took a brief journey to Europe as representative of the Boston Chamber of Commerce at an international meeting at Brussels. There is to be an International Congress of Chambers of Commerce in Boston in September, 1912, and I have been asked to act as chairman of the Committee on Programme for that congress. For the settlement of the programme it was necessary that some one should meet the representatives of the other countries taking part in the congress, and I was asked to appear for the Boston Chamber. I had a pleasant journey, spending a couple of weeks in London and there seeing something of men in public life. Among publications the chief has been my ‘Principles of Economics,’ in two volumes, published by Macmillan in the autumn of 1911. It is the result of many years of teaching and reflection, and its writing has occupied most of my spare time since our last report.”

He was married at Exeter, New Hampshire, June 20, 1888, to Edith Thomas Guild of Boston, daughter of George Dwight Guild of the Class of ’45 and Mary Thomas Guild, now Mrs. William H. Gorham. She died April 15, 1910. Their children are: William Guild, born at Cambridge, May 3, 1889; Mary Guild, born at Cambridge, May 8, 1892; Catharine Crombie, born at Cambridge, December 8, 1896; and Helen Brooke, born at Cambridge, May 24, 1898.

Taussig’s address is 2 Scott Street, Cambridge, Massachusetts.

Source: Harvard College. Class of 1879. Secretary’s Report. No. VIII. Commencement, 1914.

Image Source: Frank Taussig from Harvard Album 1900.

Categories
Berkeley Economists Harvard

Harvard Ph.D. Alumnus (1906) and Berkeley Professor Stuart Daggett

I have my eye out for such Faculty memorial minutes like the following from the University of California System for Berkeley professor Stuart Daggett. In the previous post you can find the list of fields chosen by Daggett for his doctoral examination.

___________________________

 

Stuart Daggett, Transportation Engineering: Berkeley
by E. T. Grether, I. B. Cross, and P. S. Taylor

Stuart Daggett was born on March 2, 1881, in Milwaukee, Wisconsin. His career ended on December 22, 1954, at his home in Berkeley. It was characteristic of him that on the same day on which his final illness struck him, he had been at the University collecting materials dealing with the St. Lawrence Seaway. Although he had just sent to his publisher the revised manuscript of the fourth edition of his monumental Principles of Inland Transportation, first published in 1928, he was already beginning another major investigation. His physician has remarked that it would have been mental and physical bondage for Stuart Daggett to have given up systematic scholarly pursuits.

Stuart Daggett received all three of his degrees, the A.B. in 1903, the A.M. in 1904, and the Ph.D in 1906, from Harvard University. During 1906 to 1909 he was Instructor at Harvard, but in 1909 accepted appointment to the University of California as Assistant Professor of Railway Economics on the Flood Foundation. From that day until his death he was a faculty member at Berkeley. When he came to the campus he joined that small, distinguished pioneering company of scholars in economics, which then included Adolph C. Miller, Wesley Clair Mitchell, Carl Copping Plehn, Lincoln Hutchinson, Jessica B. Peixotto, A. W. Whitney, and Henry Rand Hatfield. Professor Daggett was the last surviving member of this group. His notable contributions to teaching, research, scholarly writing, and University and public service over the years more than amply justified the wisdom of the University administration in bringing him into this extraordinarily able assembly of economists. Only six years after his arrival at the University, he was appointed Professor of Transportation on the Flood Foundation.

Professor Daggett was the author of numerous books, contributions to scholarly publications, and reviews. Among his most significant publications were Railroad Reorganization, Chapters on the History of the Southern Pacific, Principles of Inland Transportation (four editions), Railroad Consolidation West of the Mississippi River, and Structure of Transcontinental Railroad Rates.

Professor Daggett was often called upon to render federal, state, and local public service. In 1912 he served as expert for a committee to advise the governor of California on the equalization of taxes. During World War I, he was with the War Industries Board, Division of Planning and Statistics. In 1924 he was expert for the Presidential Committee on Coördination of Rail and Water Facilities. During World War II, he was public member of various War Labor Board panels. He also made important contributions to private industry in various ways, including publication in trade papers, participation in business conferences, and acting as private arbitrator.

Professor Daggett’s greatest influence, however, was through his services as a teacher, administrator, and colleague on the faculty of the University of California. In the classroom his lectures were marked by extraordinary care in preparation and presentation. Running through the orderly discussion were numerous evidences of subtle humor, much to the delight of those students whose thirst for knowledge included also an appreciation of the lighter touch. His judicious temperament and ability in carrying heavy responsibilities brought him many demands in University government and administration. From 1920 to 1927 he was Dean of the College of Commerce (replaced by the School of Business Administration in 1943). The truest evidence of his stature among his colleagues was his inevitable membership or chairmanship on those committees concerned with the most serious, urgent, and critical issues of University government. Over the years, he was a member or chairman of almost all of the leading committees of the Academic Senate, and in 1948 became its Vice-Chairman. In 1951, on the recommendation of the Senate committee, he was elected Faculty Research Lecturer, the highest accolade bestowed by the Academic Senate.

Stuart Daggett was truly one of the great statesmen of the University of California. In a sense, too, he may be characterized as a “professor’s professor,” for he possessed to a high degree so many of the talents and qualities characteristic of the academic scholar–objectivity, meticulous precision, unyielding integrity, high standards of performance and personal dignity. His intimates and members of his immediate family realized that behind his reserve and dignity there was also warm friendliness, kindliness, affection, and a high degree of sensitivity.

 

Source: Academic Senate of the University of California System. University of California: In Memoriam [1957], pp. 45-47.

Image Source:  University of California Yearbook. Blue and Gold, 1922.

 

Categories
Fields Harvard

Harvard. Subjects Chosen by Economics Ph.D. Candidates for Examination, 1905

 

This posting lists seven graduate students in economics who took their subject examinations for the Ph.D. at Harvard between December, 1904 and June, 1905.  The examination committee members, academic history, general and specific subjects are provided along with the doctoral thesis subject, when declared. Lists for 1903-04,  1915-16, and 1926-27 were posted previously. In the same archival box one finds lists for the academic years 1902-03 through 1904-05, 1906-07 through 1913-14, 1915-16, 1917-18 through 1918-19, and finally 1926-27. I only include graduate students of economics (i.e. not included are the Ph.D. candidates in history and government).

Titles and dates of Harvard economic dissertations for the period 1875-1926 can be found here.

______________________________

DIVISION OF HISTORY AND POLITICAL SCIENCE
EXAMINATIONS FOR THE DEGREE OF PH.D.

1904-05

 

Stuart Daggett.

General Examination in Economics, Thursday, December 1, 1904.
Committee: Professors Taussig, Ripley, Carver, Gay, and Andrew.
Academic History: Harvard College, 1899-1903; Harvard Graduate School, 1903-05; A.B. (Harvard) 1903; A.M. (ibid.) 1904.
General Subjects: 1. Economic Theory and its History. 2. Sociology and Statistics. 3. Money, Banking and Commercial Crises. 4. Labor Problems and Industrial Organization. 5. History of American Institutions. 6. English Economic History to 1800.
Special Subject: Transportation.
Thesis Subject: “Railroad Reorganization.” (With Professor Ripley.)

Lincoln Hutchinson.

General Examination in Economics, Wednesday, April 12, 1905.
Committee: Professors Taussig (chairman), Emerton, Bullock, Gay, Andrew, and Sprague.
Academic History: University of California, 1882-84, 1887-89; Harvard University, 1892-Jan. 1894, 1898-99; Ph.B. (Univ. of Calif.) 1889; A.B. (Harvard) 1893; A.M. (ibid.) 1899.
General Subjects: 1. Economic Theory and its History. 2. Economic History to 1750. 3. Money, Banking and Commercial Crises. 4. Public Finance and Taxation. 5. Commercial Geography. 6. History of Political Institutions in Mediaeval Europe, including England.
Special Subject: International Trade: its History, Theory, and Present Position.
Thesis Subject: “Ten Years’ Competition (1894-1903) for Markets in Brazil and the River Plate.”

Lincoln Hutchinson.

Special Examination in Economics, Monday, April 24, 1905.
Committee: Professors Taussig (chairman), Ripley, Gay, Andrew, and Sprague.
(See above.)

Joseph Clarence Hemmeon.

General Examination in Economics, Friday, May 26, 1905.
Committee: Professors Carver (chairman), Macvane, Hart, Bullock, Gay, and Sprague.
Academic History: Acadia College (N.S.), 1894-98, 1902-03; Harvard Graduate School, 1903-05; A.B. (Acadia) 1898; A.M. (ibid.) 1903; A.M. (Harvard) 1904.
General Subjects: 1. Economic Theory and its History. 2. Modern Economic History of Europe and Economic History of the United States from 1789. 3. Sociology and Social Reform. 4. Public Finance and Financial History. 5. Modern Government. 6. History of England since 1685, and History of the United States since 1763.
Special Subject: Sociology and Social Reform.
Thesis Subject: Not yet announced.

Vanderveer Custis.

Special Examination in Economics, Wednesday, June 7, 1905.
General Examination passed May 20, 1904.
Committee: Professors Taussig (chairman), Ripley, Bullock, Sprague, and Wyman.
Academic History: Harvard College, 1897-1901; Harvard Graduate School, 1901-04; A.B. (Harvard) 1901; A.M. (ibid.) 1902.
Special Subject: Industrial Organization.
Thesis Subject: “The Theory of Industrial Consolidation.” (With Professor Ripley).

James Alfred Field.

General Examination in Economics, Monday, June 12, 1905.
Committee: Professors Taussig (chairman), Ripley, Carver, Gay, Castle, and Dr. Munro.
Academic History: Harvard College, 1899-1903; Harvard Graduate School, 1903-05; A.B. (Harvard) 1903.
General Subjects: 1. Economic Theory and its History. 2. Economic History. 3. Sociology. 4. Labor Problems and Industrial Organization. 5. The Sociological Aspect of the Evolution Theory. 6. International Law.
Special Subject: Sociology.
Thesis Subject: (Not yet announced.)

Albert Benedict Wolfe.

Special Examination in Economics, Monday, June 19, 10 a.m. 1905.
General Examination passed May 11, 1904.
Committee: Professors Taussig (chairman), Ripley, Carver, Bullock, and Andrew.
Academic History: Harvard College, 1899-1902; Harvard Graduate School, 1902-04; A.B. (Harvard) 1902; A.M. (ibid.) 1903.
Special Subject: Modern Economic Theory.
Thesis Subject: “The Lodging House Problem in Boston, with some Reference to Other Cities.” (With Professor Ripley).

William Hyde Price.

Special Examination in Economics, Tuesday, June 20, 1905.
General Examination passed April 13, 1904.
Committee: Professors Taussig (chairman), Ripley, Carver, Bullock, and Gay.
Academic History: Tufts College, 1897-1901; Harvard Graduate School, 1901-05; A.B. (Tufts) 1901; A.M. (ibid.) 1901; A.M. (Harvard) 1902.
Special Subject: English Economic History of the Sixteenth and Seventeenth Centuries.
Thesis Subject: “The English Patents of monopoly, 1550-1650.” (With Professor Gay).

 

 

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1904-1905”.

Image Source:   Harvard University. Quinquennial Catalogue of the Officers and Graduates, 1636-1920Cambridge, Massachusetts, 1920. Front cover.

Categories
Courses Curriculum Harvard Undergraduate

Harvard. Major Expansion of Economics Course Offerings. 1883

Harvard’s decision to significantly increase its course offerings in political economy in 1883 received some national press coverage (that story posted earlier in Economics in the Rear-View Mirror). Today we have the announcement published in the Harvard Crimson. The trio Charles F. Dunbar, J. Laurence Laughlin and Frank W. Taussig were on their way to launch the take-off into a full academic program of economic study.

______________________

POLITICAL ECONOMY.
Courses of Study for 1883-84.

Harvard Crimson
May 24, 1883

Arrangements recently completed have enabled the college to offer a more extended course of study in Political Economy than that which has been announced. A full statements to be substituted for that given on page 14 of the Elective Pamphlet, will be found below.

On page 15 of the pamphlet, line 13, for Course 6 read Course 7.

  1. Mill’s Principles of Political Economy. – Lectures on Banking and the Financial Legislation of the United States. Mon., Wed., Fri., at 9. Prof. Dunbar and Asst. Prof. Laughlin.
  1. History of Economic Theory and a Critical Examination of Leading Writers. – Lectures. Mon., Wed. at 2 and (at the pleasure of the instructor) Fri. at 2. Prof. Dunbar.
  1. Discussion of Practical Economic Questions. – Theses, Tu., Th., at 3, and a third hour to be appointed by the instructor. Assistant Professor Laughlin.
  1. Economic History of Europe and America since the Seven Years’ War. – Lectures. Mon., Wed., Fri., at 11. Professor Dunbar.
    Course 4 requires no previous study of Political Economy.
  1. Economic Effects of Land Tenures in England, Ireland, France and Germany. – Theses. Once a week, counting as a half course. Asst. Professor Laughlin.
  1. History of Tariff Legislation in the United States. – Once a week, counting as a half course. Mr. Taussig.
  1. Comparison of the Financial Systems of France, England, Germany and the United States. – Tu., at 2, counting as a half course. Professor Dunbar.

As a preparation for Courses 2, 3, 5, 6 and 7 it is necessary to have passed satisfactorily in Course 1.

Course 1 is in Examination Group I.; Course 2, in Group V.; Course 3, in Group XII.; Course 4, in Group III.; Course 7, in Group XI.

The first two courses are intended to present the principles of the science, while the remaining five treat the subject in its historical and practical aspects. No. 2 will take up the principal writers of the present day, as Cairns, Carey and George, together with the current literature of the science. No times of recitation have been assigned to courses 5 and 6, as this will be arranged between the instructors and the students choosing the course. The department intend issuing a full descriptive pamphlet describing the different courses, which can be had at the office in a few days.

Image Source:  Charles F. Dunbar (left) and Frank W. Taussig (right) from E. H. Jackson and R. W. Hunter, Portraits of the Harvard Faculty (1892); J. Laurence Laughlin (middle) from Marion Talbot. More Than Lore: Reminiscences of Marion Talbot, Dean of Women, The University of Chicago, 1892-1925. Chicago: University of Chicago (1936).

Categories
Courses Harvard Undergraduate

Harvard. Principles of Economics. Taussig, Andrew and Bullock. 1906-07

The popularity of the introductory course in economics at Harvard led Frank Taussig to establish a structure of two one-hour lectures per week with ca. 15 sections (of about 25 students) taught by four teaching assistants who administered (and presumably then graded) a 20 minute quiz on a week’s reading assignment that would be followed up with a 35-40 minute class discussion. 

Apparently Taussig’s Columbia University colleague, E.R.A. Seligman, asked Taussig how Harvard ran its principles of economics course. Maybe he was just curious to hear whether Harvard was about to adopt his Principles of Economics With Special Reference to American Conditions. In his answer, Taussig clearly stakes his claim to have invented the large lecture with small recitation sections format. 

 

_________________________

[Copy of letter from Frank W. Taussig (Harvard)
to E.R.A. Seligman (Columbia)]

Cotuit, Mass.
Aug. 8, 1906

Dear Seligman:-

Our present system in Economics 1, is as follows. There are three exercises a week, of which two are lectures, and the third is for section work, something like what you call a quiz. The lectures are given to all the men in a large lecture hall. During the first half year I give all the lectures; during the second half year it will be given (1906-7) by Andrew and Bullock. For the section work the men are divided into sections of about 30 men each, and meet weekly in separate rooms, and at various hours, in the charge of younger instructors. Each instructor has three to four sections, there are four or five instructors. The first thing at the section meetings is a sort of examination. The question is put on the board and answered in writing during the first twenty minutes; these papers are read and a record kept of the results. The rest of the hour, thirty-five or forty minutes, is given to oral discussion.

Last year we used three text-books, Mill, Walker, and Seager. Specific assignments of reading are made for each week. The lectures cover the same topics as the reading, and the question of the week is on both reading and lectures.

To ensure consistency, the lecturer in charge (for instance myself) meets the younger instructors weekly at a stated hour. Then the questions to be asked by the instructors are submitted for approval, and the work of the week talked over.

This system is of my devising, and has worked better than anything we have tried. It has now been adopted into other large courses, History 1, and Government 1. Any other information I can give you are very welcome to.

I was extremely sorry to hear of your bereavement, and sympathize with you very fully [Seligman’s daughter, Mabel Henrietta died October 30, 1905 at age eleven]. Ripley has returned from Europe. His present address is New London, N. H. I have written a review of your book for our Journal, in which I have said some things that may not please you. But I take it you agree with me that the only object of reviews is to elicit frank statement of opinion. [Taussig’s review of Seligman’s Principles of Economics, Seligman’s Reply and Taussig’s Rejoinder]

Sincerely yours,
F. W. Taussig.

Prof. E.R.A. Seligman,
Lake Placid, N.Y.

_________________________

Course Announcement 1906 (no description)

ECONOMICS
Primarily for Undergraduates

  1. Principles of Economics. Tu., Th., Sat. at 11. Professor Taussig, Asst. Professors Bullock and Andrew, assisted by Messrs. Howland, Lewis, Huse, and Mason.

 

Source: “Announcement of the Course of Instruction offered by the Faculty of Arts and Sciences 1906-07, 2nd edition”. Official Register of Harvard University, Vol. III, No. 15, Aug. 1, 1906. P. 47.

_________________________

Course Announcement 1910-11 with Description

INTRODUCTORY COURSES
Primarily for Undergraduates

  1. Principles of Economics. Tu., Th., Sat., at 11. Professor Taussig, assisted by Drs. Huse, Day, and Foerster, and Messrs. Sharfman and Balcom.

Course 1 gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes a consideration of the principles of production, distribution, exchange, money, banking, international trade, and taxation. The relations of labor and capital, the present organization of industry, and the recent currency legislation of the United States will be treated in outline.

The course will be conducted partly by lectures, partly by oral discussion in sections. A course of reading will be laid down, and weekly written exercises will test the work of students in following systematically and continuously the lectures and the prescribed reading.

 

Source: History and Political Science, Comprising the Departments of History and Government and Economics, 1910-11. Official Register of Harvard University, Vol. VII, No. 23, June 21, 1910, p. 52.

Note: The course description is almost a verbatim copy of that for 1902-03, so we can presume the same description for 1906-07.

_________________________

Course Enrollment 1906-07

  1. Professor Taussig and Asst. Professors Bullock and Andrew, assisted by Messrs. Martin, Mason, G.R. Lewis, Huse, and Holcombe,–Principles of Economics.

Total 392: 1 Graduate, 15 Seniors, 43 Juniors, 252 Sophomores, 50 Freshmen, 31 Other.

 

Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1906-07, p. 70.

Image Source: Harvard Class Album, 1906.

 

Categories
Bibliography Harvard Suggested Reading

Harvard. Readings list for Commercial Crises Course by Persons, 1923

 

 

Warren M. Persons was an index number cruncher in the tradition of Irving Fisher and Wesley Clair Mitchell. As a guest professor at Harvard from Colorado College, he taught a course on the theory of business cycles (Economics 35) during the Winter term of the academic year 1916-17. Later as a member of the Harvard economics faulty and researcher with the Harvard Economic Service, he taught the course “Commercial Crises” (Economics 37) 1919-20, through 1926-27 that was attended primarily by graduate students.

Following an item from the Harvard Catalogue of its Officers and Graduates and a clipping from the Harvard Crimson about the Harvard Economic Service, I provide enrollment data for the course from 1923-24 when Frank Whitson Fetter (see his papers at Rubenstein Library, Duke University) attended. From Fetter’s handwritten course notes I have assembled a bibliography of items (with links to almost all references!) mentioned or assigned by Warren Persons. The final examination questions for the course have been transcribed in a later posting.

Note: The following three published items by (or edited by) Persons are relevant to the course content.

Persons, Warren M. “Books on Business Cycles: Mitchell, Aftalion, Bilgram.” The Quarterly Journal of Economics 28, no. 4 (1914): 795-810. .

The Problem of Business Forecasting, ed. by Warren M. Persons, William Trufant Foster and Albert J. Hettinger, Jr. Boston: Houghton Mifflin Company, 1924.

Persons, Warren M. “Theories of Business Fluctuations.” The Quarterly Journal of Economics 41, no. 1 (1926): 94-128. .

_________________________________________

 

Warren Milton Persons; S.B. Univ. Wis. 1899; Ph.D. Colorado Coll. 1912, Univ. Wis. 1915; Dean (Dept. of Business Administration and Banking) and Prof. of Economics and Finance, Colorado Coll. 1913-1918; Lectr. on Economics 1917; Prof. of Economics 1919—; Statistician of the Committee on Economic Research 1917-1919.

Source: Harvard University. Quinquennial Catalogue of the Officers and Graduates, 1636-1920, p. 100.

_________________________________________

 

REPLACES GUESS WORK BY ACCURATE FORECASTS

Harvard Economic Service Has Been of Great Value to Business, Experts Declare at Fifth Annual Conference

Harvard Crimson, October 22, 1923

The application of a scientific review of economic statistics to business concerns of the United States during the past five years, and its possible application to national and international affairs in the future, were the chief topics discussed on Saturday night at the fifth annual conference of the Harvard University Commitee on Economic Research, at a dinner held in the Harvard Club of Boston. After the dinner a group of speakers prominent in business and in economic research addressed the 200 subscribers to the Harvard Economic Service who were present.

After a brief introductory address by President Lowell, in which he commended the members of the committee for their service in developing economics from an inexact to an exact science. Professors Warren M. Persons and Charles J. Bullock, both of the committee, spoke, describing the growth and development of the Bureau of Economic Research at Harvard.

Persons Discusses Business Cycles

Professor Persons first described the theory of recurring business cycles, on which the Harvard Economic Service is based. Perpetual change, he showed, is an inherent feature of modern industrial enterprise. Prices rise and fall; markets expand and contract; production increases and decreases; orders accumulate beyond capacity and then seem to vanish altogether.

And yet, he said, the course of business is not purely fortuitous or haphazard. By studying the price movements in the United States for the past 20 years, an index of trade for the United States has been obtained. This chart reveals a well defined ebb and flow of prosperity and depression. First comes a period of business depression, then a recovery; this is followed by a period of prosperity followed by financial strain, which ultimately brings about a financial crisis. These five phases, each leading into the other, are known as the business cycle.

“In 1915,” he said, “the Harvard Economics Department started to investigate statistical data concerning past business cycles. From this data we were able to make accurate generalizations concerning past business cycles and inferences for the future.”

Discusses Development of Service

Professor Bullock showed how the Harvard Economic Service has developed during the past five years, and cited the increase in its number of subscribers to show its increasing value to the business houses of the United States.

“The old haphazard methods of business belong to the prehistoric ages of five years ago when we were in the business wilderness,” next declared Mr. Howard Coonley ’98, president of the Boston Chamber of Commerce, and of the Walworth Manufacturing Company. He said that since he had discovered that the sales of the Walworth Company followed almost precisely the sales graphs prepared by the Harvard Economic Service, his company had been able to discard the old uncertain method of irregular production. By following the Harvard forecast, they had been able to estimate sales for each phase of the business cycle, and plan their production and financial programs accordingly.”

“The Economic Service,” he said, “gives a perspective to business. It is an executive airplane that enables a man to see his business from afar in relation to other businesses, and deal with it accordingly.”

Turning from the past accomplishments of the Economic Service, the remaining speakers developed the further possibilities of a Bureau of Economic Research.

Mr. Jesse Isidor Straus ’93, president of R. H. Macy and Company, urged the application of the economic study of statistics to legislative problems of the country. A study he said of the economic effects of tariff and taxation on commerce might produce results that would cause even Congress to give heed to the findings of the Harvard Research Bureau in preparing its legislation.

Professor Thomas N. Carver, chairman of the Department of Economics at the University also spoke of the need of conducting national affairs by cientific economic principles.

“Already,” he said, “two great countries of the world are on the rocks largely because the men in control were illiterates in economics.

Professor Bullock, the concluding speaker, emphasized the importance of the international study of economic statistics. He said that a research bureau similar to that at Harvard had already been established by London and Cambridge Universities, and that one would soon be started at the Institute of Statistics of the University of Paris. By the cooperation of these three bureaus, he said he hoped that long strides would be taken towards a better understanding of economics and business conditions throughout the world.

_________________________________________

 

Enrollment in Economics 37, Commercial Crises 1923-24

[Economics] 37 1hf. Professor Persons.—Commercial Crises.

Total 22: 16 graduates, 2 Seniors, 1 Junior, 2 Radcliffe, 1 Graduate School of Business

 

Harvard University. Report of the President and the Treasurer of Harvard College, 1923-24. p. 107.

_________________________________________

Course Bibliography for Economics 37
Harvard University, First Term, 1923-24

Persons
Business Cycles (37)
1923-1924

Oct. 2

**Business Cycles and Unemployment. Report and Recommendations of a Committee of the President’s Conference on Unemployment, including an Investigation made under the Auspices of the National Bureau of Economic Research. New York: McGraw-Hill Book Company, Inc., 1923. Includes Wesley Clair Mitchell (ed.), “The Relation of Business Cycles to Unemployment” with articles by many economists.

*Mitchell, Wesley Clair—Business Cycles. Berkeley: University of California Press, 1913.

Burton, Theodore E.—Financial Crises and Periods of Industrial and Commercial Depression. New York: D. Appleton and Company, 1920.

Hull, George H.—Industrial Depressions, their Causes Analysed and Classified with a Practical Remedy for such as Result from Industrial Derangements, or Iron the Barometer of Trade. New York: Frederick A. Stokes Company, 1911.

Hawtrey, Ralph George—Good and Bad Trade: An Inquiry into the Causes of Trade Fluctuations. London: Constable & Company Limited, 1913.

*Robertson, Dennis Holme—A Study of Industrial Fluctuation: An Enquiry into the Character and Causes of the so-called Cyclical Movements of Trade. London: P.S. King & Son, Ltd., 1915.

*Moore, Henry Ludwell—Economic Cycles: Their Law and Cause. New York: Macmillan, 1914.

Review of Economic Cycles: their Law and Cause by Henry Ludwell Moore.
Persons, Warren M. The American Economic Review 5, no. 3 (1915): 645-48.

Review of Economic Cycles: their Law and Cause by Henry Ludwell Moore.
Persons, Warren M. Publications of the American Statistical Association 14, no. 111 (1915): 695-98.

*Aftalion, Albert (2 vol.)—Les Crises Périodiques de Surproduction. Paris: Livrairie des Sciences Politiques et Sociales, Marcel Rivière et Companie, 1913. Volume IVolume II.

*Veblen, Thorstein—The Theory of Business Enterprise. New York: Charles Scribner’s Sons, 1904.

Bilgram, Hugo and Louis Edward Levy—The Cause of Business Depressions as Disclosed by an Analysis of the Basic Principles of Economics. Philadelphia: J. B. Lippincott Company, 1914.

King, Willford Isbell—Employment, Hours, and Earnings in Prosperity and Depression, United States, 1920-1922. New York: NBER, 1923.

Foster, William T. and Waddill Catchings—Money. Publications of the Pollak Foundation for Economic Research, No. 2. Boston: Houghton Mifflin, 1923.

H.B. Hastings—Costs and Profits: their Relations to Business Cycles. Publications of the Pollak Foundation for Economic Research, No. 3. Boston: Houghton Mifflin, 1923.

*Lavington, F.—The Trade Cycle. An Account of the Causes Producing Rhythmical Changes in the Activity of Business. London: P. S. King & Son, 1922.

Edie, Lionel D. (ed.)—The Stabilization of Business. New York, Macmillan, 1923.

Jordan, David F.—Business Forecasting. New York: Prentice-Hall, 1921.

Pell, Charles Edward—The Riddle of Unemployment and its Solution. London: Cecil Palmer, 1922.

Klein, Philip—The Burden of Unemployment. New York: Russell Sage Foundation, 1923.

Moore, Henry Ludwell. “Generating Cycles of Products and Prices.” The Quarterly Journal of Economics 35, no. 2 (1921): 215-39.

Moore, Henry Ludwell. “Generating Cycles Reflected in a Century of Prices.” The Quarterly Journal of Economics 35, no. 4 (1921): 503-26.

Moore, Henry Ludwell. “The Origin of the Eight-Year Generating Cycle.” The Quarterly Journal of Economics 36, no. 1 (1921): 1-29.

Ingraham, Mark H. “On Professor H. L. Moore’s Mathematical Analysis of the Business Cycle.” Journal of the American Statistical Association 18, no. 142 (1923): 759-65.

Frank, Lawrence K. “A Theory of Business Cycles.” The Quarterly Journal of Economics 37, no. 4 (1923): 625-42.

Oct. 4

Bullock, Charles J. “Prefatory Statement.” The Review of Economics and Statistics 1, no. 1 (1919).
“General Considerations and Assumptions.” The Review of Economics and Statistics 1, no. 1 (1919): 6-8.
“Measurement of Secular Trend.” The Review of Economics and Statistics 1, no. 1 (1919): 8-18.

Oct. 9

Moore, Henry Ludwell. Generating Economic Cycles. New York, 1923.

Oct. 11

Persons, Warren M. “The Revised Index of General Business Conditions.” The Review of Economics and Statistics 5, no. 3 (1923): 187-95.

Oct. 16

Persons, Warren M., and Eunice S. Coyle. “A Commodity Price Index of Business Cycles.” The Review of Economics and Statistics 3, no. 11 (1921): 353-69.

Oct. 18

Frickey, Edwin. “An Index of Industrial Stock Prices.” The Review of Economics and Statistics 3, no. 8 (1921): 264-77.

Maxwell, W. Floyd, and Ada M. Matthews. “A Monthly Index of Bond Yields, 1919-23.” The Review of Economics and Statistics 5, no. 3 (1923): 212-17.

Oct. 23

Persons, Warren M. “An Index of Trade for the United States.” The Review of Economics and Statistics 5, no. 2 (1923): 71-78.

Day, Edmund E. “Cyclical Fluctuations of the Volume of Manufacture.” The Review of Economics and Statistics 5, no. 1 (1923): 30-60.

Day, Edmund E. “The Physical Volume of Production in the United States for 1922.” The Review of Economics and Statistics 5, no. 3 (1923): 196-211.

Day, Edmund E. “An Index of the Physical Volume of Production: I. Agriculture, 1879-1920.” The Review of Economics and Statistics2, no. 9 (1920): 246-59.

Day, Edmund E. “An Index of the Physical Volume of Production: II. Mining, 1879-1919.” The Review of Economics and Statistics 2, no. 10 (1920): 287-99.

Day, Edmund E., and Warren M. Persons. “An Index of the Physical Volume of Production: III. Manufacture, 1899-1919.” The Review of Economics and Statistics 2, no. 11 (1920): 309-37.

Day, Edmund E. “An Index of the Physical Volume of Production: III. Manufacture, 1889-1912 (concluded).” The Review of Economics and Statistics 2, no. 12 (1920): 361-67.

Day, Edmund E. “An Index of the Physical Volume of Production: IV. Agriculture, Mining, and Manufacturing Combined, 1899-1919.” The Review of Economics and Statistics 3, no. 1 (1921): 19-22.

Oct. 30

Persons, Warren M. “II. The Method Used.” The Review of Economics and Statistics 1, no. 2 (1919): 117-39.

Nov. 20
Bibliography for reports:

Dewey, Davis Rich—Financial History of The United States (5th ed.). New York: Longmans, Green, and Co., 1915.

Lincoln, Edmond E. List of References in Economics 2. Economic History of Europe since 1800, and of the United States (Revised, Enlarged, and Rearranged). Cambridge, Mass.: Harvard University, 1920.

Sumner, William Sumner—A History of Banking in the United States. Vol. I in A History of Banking in All the Leading Nations. New York: Journal of Commerce and Commercial Bulletin, 1896.

Davis, Joseph Stancliffe—Essays in Earlier History of American Corporations. Cambridge, Mass.: Harvard University Press, 1917. Volume I;  Volume II.

Holdsworth, John Thom—The First Bank of the United States. Ph.D. Thesis, University of Pennsylvania, 1910.

Callender, G. S. “The Early Transportation and Banking Enterprises of the States in Relation to the Growth of Corporations.” The Quarterly Journal of Economics 17, no. 1 (1902): 111-62.

Dec. 11

1923 Harvard Ph.D. Thesis by Joseph L. Snider directed by Warren M. Persons.

Snider, Joseph L. “Wholesale Prices in the United States, 1866-91.” The Review of Economics and Statistics 6, no. 2 (1924): 93-118.

THEORIES OF BUSINESS CYCLES

Oral reports were presented on the theories of the following authors:

Dec. 18

Veblen, Thorstein. The Theory of Business Enterprise. New York: Charles Scribner’s Sons, 1904.

  1. Alford
  2. Allen
  3. Fetter

Dec. 20

See Veblen’s new book:

Veblen, Thorstein. Absentee Ownership and Business Enterprise in Recent Times: The Case of America. New York: B. W. Huebsch, 1923.

Jan. 3

Hobson, John A. Economics of Unemployment. London: George Allen & Unwin. 1922.
ch 5, pp. 73-83; ch 10, pp. 146-151.

Commons, John R. “Hobson’s “Economics of Unemployment” The American Economic Review 13, no. 4 (1923): 638-47.

  1. Gilbert, D.W.
  2. Maxwell
  3. Nakakawagu [Tseng]

Jan. 5

*Aftalion, Albert (2 vol.). Les Crises Périodiques de Surproduction. Paris: Livrairie des Sciences Politiques et Sociales, Marcel Rivière et Companie, 1913. Volume IVolume II.

  1. Gilbert, R. V.
  2. Stern [Sherrin?]
  3. Silbert

Jan. 8

Bouniatian, Mentor. Les Crises Économiques: Essai de Morphologie et Théorie des Crises Économiques Périodiques et de Théorie de la Conjuncture Économique. Paris. Marcel Giard, 1922.

  1. Smith, W.B.
  2. Taber
  3. Woolfson

Jan.10

Hawtrey, Ralph George. Good and Bad Trade: An Inquiry into the Causes of Trade Fluctuations. London: Constable & Company Limited, 1913.

Hawtrey, Ralph George. Monetary Reconstruction. London: Longmans, Green and Co., 1923.

Keynes, J. M. “Review of Currency and Credit by R. G. Hawtrey.” The Economic Journal 30, no. 119 (1920): 362-65.

Article by Mitchell reviewing business in 1923 in annual number of N.Y. Evening Post.

  1. Opie
  2. Smith, D.B.

Jan. 12

Hawtrey, Ralph George. Currency and Credit. London: Longmans, Green and Co., 1919.  ch 9 + 10.

Young, Allyn A. “Hawtrey, Currency and Credit; Fisher, Stabilizing the Dollar.” The Quarterly Journal of Economics 34, no. 3 (1920): 520-32.

Report by Taber on:

Foster, William T. and Waddill Catchings—Money. Publications of the Pollak Foundation for Economic Research, No. 2. Boston: Houghton Mifflin, 1923.

Jan. 15

Robertson, Dennis Holme. A Study of Industrial Fluctuation: An Enquiry into the Character and Causes of the so-called Cyclical Movements of Trade. London: P.S. King & Son, Ltd., 1915.

  1. Silbert
  2. Stern
  3. Smith, W.B.

Jan. 15

Mitchell, Wesley Clair. Business Cycles. Berkeley: University of California Press, 1913: ch. 14.

  1. Taber
  2. Miss Bacon
  3. Miss Freudenthal

Jan. 17, 19, 22

The Methods of Stabilization of Industry as outlined in:
Business Cycles and Unemployment. Report and Recommendations of a Committee of the President’s Conference on Unemployment, including an Investigation made under the Auspices of the National Bureau of Economic Research. New York: McGraw-Hill Book Company, Inc., 1923.

 

Jan. 22
[appears to be suggestions for final examination preparation]

See Day’s article in Jan. 1923 Review [1].

Know statistical analysis used in Harvard method; lag, sequence of movements, correlation between different indices, etc. etc.

British business conditions, June 1922 [2] and Oct 1923 Supplement [3]. Index of Physical Production of Manufactures. Articles for Feb. 1921 [4], Dec. 1921 [5] and Oct. 1923 [6] for relation between production and price fluctuations.

It here typical business cycle, do crises and financial panics always occur; international nature.

Extended knowledge of author treated and general knowledge of all authors.—Present status of subject and its probably developments, a philosophy of the subject of business cycles.

Methods of forecasting. The three curves and their relations.— [7] Mitchell’s book. Ch. 6 by King is important contribution P. says.

Index of Trade—April, 1923  [8].

 

[1] Day, Edmund E. “Cyclical Fluctuations of the Volume of Manufacture.” The Review of Economics and Statistics 5, no. 1 (1923): 30-60.

[2a] Bowley, Arthur L. “An Index of British Economic Conditions: 1919-22.” The Review of Economics and Statistics 4 (1922): 145-56.

[2b] Persons, Warren M., Norman J. Silberling, and William A. Berridge. “An Index of British Economic Conditions: 1903-14.” The Review of Economics and Statistics 4 (1922): 157-75.

 [3]  “[An Index of British Economic Conditions: 1903-14]: Appendix.” The Review of Economics and Statistics 4 (1922): 176-89.

 [4] “Physical Production in 1920.” The Review of Economics and Statistics 3, no. 2 (1921): 37-39.

 [5] Persons, Warren M. “The Iron and Steel Industry During Business Cycles.” The Review of Economics and Statistics 3, no. 12 (1921): 378-83.

 [6] Blackett, O. W. “Pig Iron and Scrap Prices during Business Cycles.” The Review of Economics and Statistics 5, no. 4 (1923): 272-78.

 [7] Business Cycles and Unemployment. Report and Recommendations of a Committee of the President’s Conference on Unemployment, including an Investigation made under the Auspices of the National Bureau of Economic Research. New York: McGraw-Hill Book Company, Inc., 1923. Includes Wesley Clair Mitchell (ed.), “The Relation of Business Cycles to Unemployment” with articles by many economists.

 [8] Persons, Warren M. “An Index of Trade for the United States.” The Review of Economics and Statistics 5, no. 2 (1923): 71-78.

 

Source: Duke University, Rubenstein Library. Frank Whitson Fetter Papers, Box 49, Folder “Student Papers, Graduate Courses (Harvard University) Ec 37—Corporation Finance Notes, Report 1923-24.”

Image Source: Harvard Class Album, 1920.

Categories
Harvard Syllabus

Harvard. Economics of Transportation. Chamberlin, 1931

______________________________

Every year from 1927/28 through 1931/32, Edward Chamberlin taught a semester-long course on the economics of transportation. He took over the course that had been previously taught by Professor William Zebina Ripley, who continued teaching the next semester course in the sequence on the economics of corporations. In the following year these two courses morphed into the full-year course “Monopolistic Industries and their Regulation” co-taught by Chamberlin and Edward S. Mason.

The final examination questions for 1932 have been transcribed for this course.

______________________________

 

Course Enrollment

[Economics] 4a 1hf. Asst. Professor Chamberlin.—Economics of Transportation.

Total: 149. 5 Graduates, 46 Seniors, 85 Juniors, 7 Sophomores, 6 Other.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments, 1931-1932. p. 71.

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ECONOMICS 4a
1931-32

Lectures: Section Meetings:
Oct. 1-17 inclusive

Nov. 3-19 inclusive

Dec. 8-15 inclusive

Oct. 19-27 inclusive.

Nov. 20-Dec. 1 incl.

Dec. 16-22 inclusive

Assignments

Before Oct. 20

Chapter

Historical Sketch

Taussig—Principles of Economics

62, 63

Ripley—Railroads, Rates and Regulation

1

Ripley—Railroad Problems 

1,2

Rates

Jones—Principles of Railroad Transportation

4-9 inclusive

Jones and Vanderblue—Railroads, Cases & Selections

VIII

Traffic Geography

Jones and Vanderblue—Railroads, Cases & Selections

II

Daggett—Principles of Inland Transportation

8-14 inclusive

Finance

Jones

2, 16, 18

Jones and Vanderblue

XX, Section 1

Hour Examination October 29

Before Nov. 21

History of Regulation to 1917

Ripley—Railroads, Rates and Regulation

13-17 inclusive

Jones

14

Sharfman—American Railroad Problem

pp. 51-64

Federal Operation During the War

Sharfman

3, 4, 5

 

Nationalization

Sharfman

6

The Act of 1920

Sharfman

pp. 347-357

Sharfman

11

Valuation

Jones

15

Jones and Vanderblue

IV

Motor Truck Transport

Daggett

6, 34

Peterson—“Motor Carrier Regulation and Its Economic Basis”—Quarterly Journal of Economics—Aug. 1929

Inland Water Transport

Daggett

2, 33

Hour Examination December 3

Before Dec. 17

Consolidation

Jones

17

Daggett

22, 23, 24

Jones and Vanderblue

XXIV Sections 1 and 2

Foreign Experience
Daggett

30, 31

 

Reading Period

Read one of the following:

  1. Rates

Vanderblue and Burgess—Railroads, Rates, Service, Management. Chs. 5-12 inclusive.
Clark—Economics of Overhead Costs. Chs. 13, 14

  1. Valuation

Glaeser—Outlines of Public Utility Economics. Chs. 14, 19, 21. 
I.C.C. Finance Docket #3908 (O’Fallon Case)
Sup. Ct. Opinion #131, 132. October, 1928.

  1. Waterways

Moulton—St. Lawrence Navigation and Power Project. pp. 1-240
Journal of Political Economy—Feb. 1930, pp. 86-107; June 1930, pp. 345-353
Moulton—Waterways vs. Railways. Chs. 2, 3, 20.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 2, Folder “Economics, 1931-1932”.

Image Source:  Edward Chamberlin, Harvard Class Album 1932.

Categories
Economic History Harvard Suggested Reading Syllabus

Harvard. Economic History of Europe Since 1800. Edmund E. Lincoln, 1920.

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This post provides a transcription of over thirty printed pages from the List of References in Economics 2 at Harvard published in 1920 by Edmund Earle Lincoln (1888-1958). These pages include all the bibliographic references for the first semester course “Economic History of Europe since 1800” along with an introductory note and a short list of titles recommended for students who wish to build a personal library in European and U.S. economic history. The final examination questions and a course description have also been transcribed. The list of references for Economics 2b, “Economic History of the United States” will be posted sometime in the near future.

Edmund Earle Lincoln was born February 5, 1888 in McCook, Nebraska. He received an A.B. from Ohio Wesleyan in 1909; a B.A. from Oxford in 1910; M. A. from Oxford in 1914; Ph.D. from Harvard in 1917 with the thesis, “The Results of Municipal Electric Lighting in Massachusetts.” He was appointed Instructor in Economics and Tutor at Harvard in 1915 (where he stayed at least until the 1920 U.S. Census). As of the 1930 U.S. Census Lincoln worked as an executive with International Telephone & Telegraph Co. in New York City. From 1931 to his retirement in 1953 Lincoln was an economist with E. I. Du Pont Nemours & Co. He died May 15, 1958 in Wilmington, Delaware.

Apparently his 1950 published translation of Dangers of Inflation: An Address by Pierre Samuel du Pont, 1790, is still available from the Harvard Business School for $20 as Kress Collection Publication No. 7.

_____________________

Economics 2: Course Enrollment, 1920-21

[Economics] 2a 1hf. Dr. E. E. Lincoln, assisted by Mr. Hyde.–European Industry and Commerce in the Nineteenth Century

Total 70: 18 Graduates, 8 Seniors, 17 Juniors, 11 Sophomores, 1 Freshman, 15 Others.

[Economics] 2b 2hf. Dr. E. E. Lincoln, assisted by Mr. Hyde.–Economic History of the United States.

Total: 148: 13 Graduates, 34 Seniors, 47 Juniors, 26 Sophomores, 3 Freshmen, 25 Others.

Source: Harvard University. Reports of the President and the Treasurer of Harvard College 1920-21, p. 95.

_____________________

LIST OF REFERENCES IN ECONOMICS 2
ECONOMIC HISTORY OF EUROPE SINCE 1800,
AND OF THE UNITED STATES

Revised, Enlarged, and Rearranged

CAMBRIDGE, MASS.
PUBLISHED BY HARVARD UNIVERSITY
1920

 

INTRODUCTORY NOTE

The following list of readings is a rearrangement, revision and extension of the references originally prepared by Professor E. F. Gay for use in connection with the courses in European and American Economic History at Harvard College. The changes and additions have been such as to make this practically a new list. It in no way purports to be a complete bibliography of the subject, nor is it necessarily definitive in form. It is intended simply to serve as a guide to reading on the topics of the course, especially on those subjects which are not covered by the lectures, and should prove particularly useful to graduate students who wish to pursue their studies independently.

The aim has been to include only the more authoritative readings on a given topic, though on such questions as are admittedly mooted an attempt is made to cite the more representative writers on either side. Occasionally, also, in lieu of any work treating of a given subject in a more satisfactory manner, books have been listed of which the compiler thoroughly disapproves. In such cases, however, there are good reasons for the inclusion: As the list is itself a careful selection, it does not seem necessary for present purposes to add critical comments on the various authors.

Each section (indicated by Roman numerals) maps out a week’s work. The required reading for the present year (tested by means of fortnightly papers) is marked with an asterisk. There has, however, been such an arrangement of topics that the requirements can readily be varied from year to year. The bibliographies cited at the end of each section give further references on the topics under discussion; they are also useful as starting points in the thesis work of the course.

Edmond E. Lincoln, M.A. (Oxon), Ph.D.

 

SUGGESTIONS TO STUDENTS

Although no text-books are required in the course, most of the books in which reading is assigned are recommended for purchase by those who wish to start a library on the subject, and the following titles are suggested for those who desire to purchase a few inexpensive and rather general but thoroughly useful books:

Economics 2a
(European Economic History in the last century.)

Ashley, P., Modern Tariff History (ed. 1910).

Ashley, W. J., Economic Organization of England.

Ashley, W. J., British Industries.

Barker, J. Ellis, Economic Statesmanship (ed. 1920).

Dawson, W. H., The Evolution of Modern Germany.

Day, Clive, History of Commerce. (Useful also in Economics 2b. Good bibliography.)

Hobson, J. A., Evolution of Modern Capitalism.

Marshall, A., Industry and Trade.

Morley, Life of Cobden.

Ogg, Economic Development of Modern Europe. (Bibliography at end of each chapter.)

Perris, G. H., The Industrial History of Modern England.

Prothero, R. E., English Farming, Past and Present.

Raper, Railroad Transportation. (Useful also in Economics 2b.)

Robinson, E. van D., Commercial Geography; or Smith, J. R. Commerce and Industry. (Useful also in Economics 2b.)

Toynbee, Industrial Revolution.

Usher, A. P., Introduction to the Industrial History of England.

Wallace, D. M., Russia (ed. 1912).

 

Economics 2b
(Economic History of the United States.)

Bishop and Keller, Industry and Trade.

Bogart, Economic History of the United States. (“Selected Readings” by Bogart and Thompson is also useful.)

Callender, Economic History of the United States. (Selected readings before 1860.)

Dewey, Financial History of the United States. (Bibliography.)

Jenks and Clark, The Trust Problem.

Johnson and Van Metre, Principles of Railroad Transportation.

Noyes, Forty Years of American Finance.

Taussig, Some Aspects of the Tariff Question.

Taussig, Tariff History (ed. 1914).

 

General Bibliographical Aids in Thesis Writing

American Economic Review (Contains conveniently classified lists of recent books and magazine articles from 1911 to date. Earlier lists are to be found in the Quarterly Journal of Economics, 1886-1907, and the Economic Bulletin, 1908-1911.

Catalogue of Parliamentary Papers, 1801-1900; and Decennial Supplement, 1901-1910.

Encyclopaedia Britannica (11th ed.), Bibliographies.

Harvard College Library, Subject Catalogue by names of countries.

Library of Congress, Bibliographies on special topics.

Poole’s Index of Periodical Literature.

Readers’ Guide to Periodical Literature (1900-).

University of Chicago, Bibliography of Economics.

_____________________

ECONOMICS 2a
FIRST HALF-YEAR

ECONOMIC HISTORY OF EUROPE SINCE 1800

SUGGESTIONS TO STUDENTS AND AIDS TO THESIS WORK IN ECONOMICS 2a

 

Official Publications

Annuaire Statistique.

Berichte über Handel und Industrie.

Parliamentary Papers, particularly Commercial Reports (annual); Statistical Abstract of Foreign Countries.

Statistisches Jahrbuch.

U. S. Dept. Commerce and Labor, Bureau of Statistics, Statistical Abstract of Foreign Countries (1909).

U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, Consular Reports (formerly published by the State Department); Special Agent’s Series, and Bulletins.

 

Periodicals

Annual Register.

Archiv für Socialwissenschaft und Socialpolitik.

Bankers’ Magazine (London).

Economic Journal.

Journal des Économistes.

Journal of the Royal Statistical Society.

London Economist. (A weekly financial paper, well indexed, with valuable information on commercial and industrial subjects.)

London Times, with Russian and South American Supplements.

Revue d’ Économie Politique.

Schriften des Vereins fur Socialpolitik.

 

Encyclopedias, Yearbooks, Dictionaries, etc.

Bartholomew, J. G., Atlas of the World’s Commerce.

Dictionary of National Biography.

Encyclopaedia Britannica (11th ed.).

Handwörterbuch der Staatswissenschaft.

Jahrbücher fur Nationalökonomie.

McCulloch, Commercial Dictionary (ed. 1856).

Palgrave, Dictionary of Political Economy (including 1909 supplement).

Statesman’s Year-Book.

Wörterbuch der Volkswirtschaft (ed. Elster).

 

General Books

Bland, Brown, and Tawney, English Economic History: Select Documents.

Cunningham, Growth of English Industry and Commerce, Part 2, Vols. II, III. (A carefully arranged, exhaustive bibliography at the end of Vol. III.)

Dawson, Evolution of Modern Germany.

Day, History of Commerce. (Useful bibliography with each chapter.)

Levasseur, Histoire des Classes Ouvrières en France depuis 1789; Questions Ouvrières et Industriélles en France sous la Troisième République.

Levi, L., History of British Commerce, 1763-1878.

Macpherson, D., Annals of Commerce, Vol. IV.

Mavor, Economic History of Russia.

Page, Commerce and Industry. (Based on Hansard’s Debates. Vol. II,’ ‘Tables of Statistics for the British Empire from 1815,” is useful.

Porter, Progress of the Nation. (Hirst edition, 1912. Contains some interesting data for Great Britain.)

Smart, Economic Annals of the Nineteenth Century, Vols. I and II, 1801-1830. (A convenient digest of economic materials in annuals and official publications of the time.)

Smith, J. R., Industrial and Commercial Geography.

Sombart, Die deutsche Volkswirtschaft im Neunzehnten Jahrhundert.

Traill, ed., Social England. (Includes contributions by leading authorities on economics and economic history. Vols. V, VI cover the period of this course. Useful bibliography with each chapter.)

Wallace. D. M., Russia (ed. 1912. Still probably the best general book on Russian economic conditions.)

Webb, Trade Unionism (ed. 1911); Industrial Democracy. (These two volumes contain the best bibliographies on English labor problems.)

Williams, J. B., Guide to English Social History, 1750-1850. (Contains some useful though frequently inaccurate bibliographies.)

 

Text-Books

Economic histories of England are legion. Among these may be mentioned the following:

Perris, G. H., The Industrial History of Modern England (covers the period of this course); Rogers, J. E. T., Industrial and Commercial History of England; Tickner, Social and Industrial History of England; Usher, Introduction to the Industrial History of England; Warner, G. T., Landmarks in English Industrial History.

Probably Dawson’s Evolution of Modern Germany and Wallace’s Russia are the most satisfactory books on these countries. Russia: Its Trade and Commerce, by Raffalovich, is a useful recent book on Russia. For more general reading, Ogg’s Economic Development of Modern Europe covers parts of the field of this course and has some useful bibliographies at the end of each chapter. Rand’s Economic History since 1763 (a collection of readings) is still of some service.

Slater, G., Making of Modern England, and Hayes, C. J. H., Political and Social History of Modern Europe, attempt to link up political and economic development.

_____________________

Required reading is indicated by an asterisk (*). Large Roman numerals indicate volumes; Arabic numerals pages. References in brackets [ ] are recommended but not required.

 

I. THE INDUSTRIAL REVOLUTION

General Reading

*Hobson, Evolution of Modern Capitalism (ed. 1902), 10-82, or ed. 1910 and 1917, 30-102.

*Toynbee, Industrial Revolution (ed. 1908), 22-96.

Ashley, Economic Organization of England, 140-172.

Bücher, Industrial Evolution, 150-184, 282-314.

Cheyney, Readings in English History, 610-616.

Cunningham, Growth of English Industry and Commerce, III, 620-668.

Lewinski, L’Évolution Industrielle de la Belgique.

Mantoux, Révolution Industrielle, 179-502.

Rappard, La Révolution Industrielle en Suisse.

Traill, ed., Social England, V, 301-357.

Veblen, Imperial Germany and the Industrial Revolution, 168-270.

Wood, H. T., Industrial England in the Middle of the Eighteenth Century.

 

The Factory System

Bland, Brown, and Tawney, English Economic History: Select Documents, 545-643.

Engels, Condition of the Working Classes in 1844.

Hutchins and Harrison, History of Factory Legislation (ed. 1911), 1-42.

Marx, Das Capital, Vol. I, passim.

Cooke-Taylor, The Modern Factory System, 44-225.

Villermé, L’État Physique et Moral des Ouvriers.

Wallas, Life of Francis Place, 197-240.

Webb, History of Trade Unionism, 24-101.

Woolen Report of 1806; reprinted in Bullock, Selected Readings in Economics, 114-124.

 

Introduction of Textile Machinery

Babbage, The Economy of Machinery and Manufactures.

Chapman, The Lancashire Cotton Industry, 1-112.

Clapham, “Transference of the Worsted Industry,”Economic Journal, XX, 195-210.

Guest, R., Compendious History of the Cotton Manufacture (1823).

Radcliffe, W., Origin of the New System of Manufacture (1828).

Walpole, “The Great Inventions,” in History of England, I, 50-76; reprinted in Bullock, 125-145, and Rand, Selections illustrating Economic History, ch. ii.

 

Bibliographies

Cannon, References for English History, 399-400.

Cunningham, III, 944-946, 990-996.

Hunt, W., Political History of England, 1760-1801 (Hunt and Poole Series, X), 468-469.

Traill, ed., Social England, V, 364-365, 627.

 

II. AGRARIAN MOVEMENT — CONTINENT

Germany

*Dawson, Evolution of Modern Germany, 255-294.

*Morier, “Agrarian Legislation of Prussia,” in Probyn, Land Tenure in Various Countries, 267-275; also in Rand, 98-108.

*Seeley, Life and Times of Stein, I, 287-297; in Rand, 86-98.

Brentano, “Agrarian Reform in Prussia,” Econ. Jour., VII, 1-20 (March, 1897).

Knapp, Bauernbefreiung in Preussen.

Preuss, Die wirtschaftliche und soziale Bedeutung der Stein-Hardenbergschen Reform.

Probyn, ed., Land Tenure in Various Countries, 243-287.

Von der Goltz, Agrarwesen und Agrarpolitik, 40-50; also Geschichte der deutschen Landwirtschaft.

 

France

*Dumas, “French Land System,” Econ. Jour., XIX, 32-50 (March, 1909).

*Von Sybel, French Revolution, in Rand, Selections, 55-85.

Cliffe Leslie, The Land System of France, in Carver’s Selected Readings in Rural Economics, 410-432.

De Foville, Le Morcellement, 52-89.

Flour de St. Genis, La Propriété Rurale, 80-164.

Levasseur, Histoire des Classes Ouvrières (ed. 1867), 23-42.

Young, A., Travels in France.

 

Other Countries

Chlapowski, Belgische Landwirtschaft.

Faucher, J., Russian Agrarian Legislation of 1861, in Probyn, Land Tenure in Various Countries, 309-346.

Laveleye, Économie Rurale de la Belgique.

Leroy-Beaulieu, The Empire of the Czars, I, 403-580; II, 1-57.

Mavor, Economic History of Russia, I.

Schulze-Gaevernitz, Volkswirtschaftliche Studien aus Russland, 308-383.

Simkhovitch, Feldgemeinschaft in Russland.

 

Bibliographies

Cambridge Modern History, X, 795, 884, 886.

Lavisse et Rambaud, Histoire Générale, IX, 417, 622; X, 472.

 

III. AGRARIAN MOVEMENT — ENGLAND

General Agricultural Conditions

*Prothero, R. E., English Farming Past and Present, 148-189, 207-252, 290-315.

Caird, English Agriculture in 1850, 473-528.

Curtler, Short History of English Agriculture, 190-270.

Garnier, English Landed Interests.

Levy, H., Large and Small Holdings (1911 transl.), 3-54.

Levy, Entstehung und Rückgang des landwirtschaftlichen Grossbetriebs in England.

Parliamentary Reports: 1816, Committee on Mendicity and Vagrancy; 1821, IX, Committee on Agriculture; 1822, V, Committee on Agricultural Distress.

Smart, Economic Annals of the Nineteenth Century, 1801-20, chs. vi, xx, xxii.; 1821-30, chs. i, v, x, xii.

Young, A., Tour through the Southern Counties (1768).

 

The Small Holder

Broderick, English Land and English Landlords, 65-240.

Colman, European Agriculture (2d ed.), I, 10-109, 133-174.

Green, F. E., The Small Holding.

Hasbach, History of the English Agricultural Labourer, 71-147.

Johnson, A. H., Disappearance of the Small Land Holder in England, 7-17, 107-164.

Prothero, R. E., English Farming, Past and Present, 190-206.

Taylor, Decline of the Land-owning Farmers in England, 1-61.

 

Bibliographies

Cambridge Modern History, X, 884-885.

Garnier, English Landed Interests, II, 536, 553.

Levy, H., Large and Small Holdings, 230-235.

Traill, ed., Social England, V, 513; VI, 110.

 

III. AGRICULTURAL DEPRESSION AND RECENT AGRARIAN HISTORY

England and Ireland

*Prothero, R. E., English Farming Past and Present, 316-331, 346-418.

Adams, “Small Holding in the United Kingdom,” Roy. Stat. Soc. Jour., 1907, 412-437.

Arch, Autobiography, 65-144, 300-345.

Barker, E., Ireland in the Last Fifty Years, 69-141.

Bastable, “Economic Movement in Ireland,” Econ. Jour., XI, 31-42.

Besse, P., L’Agriculture en Angleterre de 1875 à nos jours.

Caird, in Ward, Reign of Queen Victoria, II, 129-153.

Caird, English Agriculture in 1850.

Curtler, Short History of English Agriculture, 271-322.

Curtis, C. E., and Gordon, Handbook upon Agricultural Tenancies.

Department of Agriculture and Technical Instruction for Ireland, Report on Agricultural Credit in Ireland (1915).

Gray, H. L., War Time Control of Industry, 249-269, “Agriculture.”

Green, F. E., History of the English Agricultural Labourer, 1870-1920.

Haggard, Rural England, II, 536-576.

Hasbach, English Agricultural Labourer, 274-353.

Herrick, M. T., Rural Credits, 148-160.

Levy, H., Large and Small Holdings, 55-213.

Parliamentary Tariff Commission, III, Report of the Agricultural Committee, 1906.

Plunkett, Ireland in the New Century (ed. 1905), 175-209.

Royal Commission of 1897, Report on Agricultural Depression, 6-87.

Thompson, “Rent of Agricultural Land in England and Wales,” Roy. Stat. Soc. Jour., 1907, 587-611.

Turner, E. R., Ireland and England, 188-225.

 

Other Countries

Brentano, Die deutschen Getreidezölle (ed. 1911).

Chlapowski, Belgische Landwirtschaft.

Dawson, Evolution of Modern Germany, 226-293.

Ely, R. T., “Russian Land Reform,” Am. Econ. Rev., VI, 61-68.

Goulier, Commerce du Blé en France.

Haggard, Rural Denmark and its Lessons.

Herrick, M. T., Rural Credits, 34-147, 161-186.

Imbart de la Tour, Le Crise Agricole, 24-34, 127-223.

King and Okey, Italy To-day, 156-192.

Mavor, Economic History of Russia, II, 251-357.

Méline, J., Return to the Land, 83-144, 185-240.

Morman, J. B., Principles of Rural Credits, 3-141.

Rowntree, Land and Labour, Lessons from Belgium.

Simkhovitch, “Agrarian Movement in Russia,” Yale Rev., XVI, 9-38.

Wallace, D. M., Russia.

 

Bibliographies

Besse, P., L’Agriculture en Angleterre.

Cambridge Modern History, XII, 856-862, 866-867, 872-873.

Levy, Large and Small Holdings, 235-242.

Traill, ed., Social England, VI, 452.

 

V. THE FREE TRADE MOVEMENT — ENGLAND

*Armitage-Smith, G., Free Trade and its Results, (ed. 1898), 39-60, 130-163.

*Morley, Life of Cobden, chs. vi, vii, xvi.

Ashworth, Recollections of Cobden and the League, 32-64, 296-392.

Cambridge Modern History, XI, 1-21.

Cheyney, Readings in English History, 702-716.

Cunningham, Rise and Decline of the Free Trade Movement, 27-99.

Curtler, Short History of English Agriculture, 271-293.

Day, History of Commerce, 354-372.

Levi, History of British Commerce, 218-227, 261-272, 292- 303; in Rand, 207-241.

McCulloch, J. R., Dictionary of Commerce (ed. 1850), 411-449, 1272-1289.

Mongredien, History of the Free Trade Movement.

Morley, Life of Gladstone, I, 247-303, 443-476; II, 18-69.

Nicholson, J. S., History of the English Corn Laws.

Northcote, Twenty Years of Financial Policy.

Parker, Sir Robert Peel from his Private Letters, II, 522-559; III, 220-252.

Parliamentary Reports: 1840, Committee on Import Duties; 1843-1845, Commission on the Health of Towns; 1842-1843, 1863-1868, Committees on Employment of Children, Young Persons, and Women in Mines, Manufactures, and Agriculture.

Prentice, History of the Anti-Corn Law League, I, 49-77.

Schulze-Gaevernitz, Britischer Imperialismus, 243-375.

Tooke, History of Prices, 1839-1847, V, 391-457.

Trevelyan, G. M., Life of John Bright, 45-153.

 

Bibliographies

Arnauné, Le Commerce Extérieur, 199-226, notes.

Cambridge Modern History, X, 868-870; XI, 869, 871-872.

Cannon, References for English History, 423-424.

Morley, Life of Cobden (ed. 1908), II, 495-504.

N. Y. State Library, Bulletin, May, 1902, “Bibliography of the Corn Laws.”

 

VI. TARIFF HISTORY — CONTINENT

General Reading

*Ashley, P., Modern Tariff History (ed. 1910), 3-73, 359-372.

Bastable, Commerce of Nations.

Day, History of Commerce, 342-352, 391-417.

Fisk, G. W., “Middle European Tariff Union” (Johns Hopkins Univ. Studies, November-December, 1902).

 

Germany

*Bowring, “Report on Prussian Commercial Union,” Parl. Doc., 1840, in Rand, Selections, 170-196.

Bigelow, P., German Struggle for Liberty, III, ch. 17.

Dawson, W. H., Protection in Germany.

Lang, Hundert Jahre Zollpolitik, 168-230.

Weber, W., Der Deutsche Zollverein.

Worms, L’Allemagne Économique, 57-393.

 

France

Amé, Les Tarifs de Douanes, I, 21-34, 219-316.

Arnauné, Le Commerce Extérieur et les Tarifs de Douane, 90-269.

Meredith, H. O., Protection in France.

Morley, Life of Cobden, ch. xxix.

Perigot, Histoire du Commerce Français, 77-185.

 

Bibliographies

Ashley, P., Modern Tariff History (ed. 1910), 165-166, 437-438.

Cambridge Modern History, X, 832; XI, 878.

Lavisse et Rambud, Histoire Générale, X, 472, 668.

 

VII. RECENT TARIFF HISTORY

Return to Protection; France and Germany

*U. S. Tariff Commission, Reciprocity and Commercial Treaties, 461-510.

Ashley, P., Modern Tariff History (ed. 1910), 80-121, 145-154, 373-436.

Arnauné, Le Commerce Extérieur, 247-350.

Dawson, Protection in Germany, 26-160.

Dijol, La France sous la Régime Protectionniste de 1892.

Meredith, Protection in France, 54-129.

Zimmermann, Deutsche Handelspolitik, 218-314.

 

English Controversy; Imperial Federation

*Ashley, W. J., Tariff Problem, 114-167.

Armitage-Smith, Free Trade Movement and its Results, 188-203.

Balfour, Economic Notes in Insular Free Trade, 1-32; Fiscal Reform, 71-95, 97-113, 266-280.

Caillard, V. H. P., Imperial Fiscal Reform.

Chamberlain, Imperial Union and Tariff Reform, 19-44.

Coates, G., Tariff Reform Employment and Imperial Unity.

Cunningham, Rise and Decline of the Free Trade Movement, 100-168.

Drage, G., Imperial Organization of Trade.

Marshall, Fiscal Policy of International Trade, 30-82.

Pigou, Protective and Preferential Import Duties, 1-117. (See also his Riddle of the Tariff, 1-107.)

Root, J. W., Trade Relations of British Empire.

Smart, Return to Protection, 27-44, 136-185.

Tariff Reform League, Speakers’ Handbook.

 

Bibliographies

U. S. Library of Congress, Foreign Tariffs (1906); British Tariff Movement (1904).

Cambridge Modern History, XI, 878, 969; XII, 872.

Lavisse et Rambaud, Histoire Générale, XII, 788.

 

VIII. COMMERCE AND SHIPPING

England

*Bowley, England’s Foreign Trade in the Nineteenth Century, (ed. 1905), 55-96, 141-147.

*Grosvenor, G. M., Government Aid to Merchant Shipping, 45-61, 75-86, 135-165.

Bourne, S., Trade, Population, and Food.

Cornewall-Jones, British Merchant Service, 252-260, 306-317.

Ginsburg,”British Shipping,” in Ashley, British Industries, 173-195.

Glover, “Tonnage Statistics of the Decade, 1891-1900,” Roy. Stat. Soc. Jour., 1902, 1-41.

Kirkaldy, British Shipping: its History, Organization, and Importance.

Lindsay, Merchant Shipping, IV.

Meeker, History of Shipping Subsidies, 1-67, 79-95.

Porter, Progress of the Nation (Hirst, ed.), 473-546.

Root, “British Shipping Subsidies,” Atlantic Monthly, LXXXV, 385-394 (1900).

Root, J. W., Trade Relations of the British Empire.

Smith, J. Russell, Influence of the Great War on Shipping, 153-184, 244-265.

Smith, J. R., The Ocean Carrier.

Taylor, “British Merchant Marine,” Forum, XXX, 463-477 (1900-1901).

U- S. Dept. of Commerce and Labor, Bureau of Statistics, Statistical Abstract of Foreign Countries (1909).

Ward, T. H., Reign of Queen Victoria, II, 111-118.

 

Other Countries

Arnauné, Le Commerce Extérieur, 425-460.

Austin, O. P., Effects of the War on World Trade and Industry.

Bracq, J. C., France under the Republic, ch. 3.

Charles-Roux, L’Isthme et le Canal de Suez, II, 287-339.

Dawson, Evolution of Modern Germany, 65-74.

Hauser, H., Germany’s Commercial Grip on the World.

Le Roux de Bretagne, Les Primes à la Marine Marchande, 93-224.

Marx, A., Französische Handelsgesetzgebung.

Snow, C. D., Germany’s Foreign Trade Organization (U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, miscellaneous series, no. 57).

Von Halle, Volks-und Seewirtschaft, 136-219.

 

Bibliographies

Cambridge Modern History, XII, 872-873.

Day, History of Commerce, 380, 398, 407-408, 417.

Lavisse et Rambaud, Histoire Générale, X, 472.

Van der Borght, Handel und Handelspolitik.

 

IX. TRANSPORTATION — PRIVATE OWNERSHIP

*Cunningham, W. J., “Characteristics of British Railways,” New Eng. R.R. Club, 8-60.

*Hadley, Railroad Transportation, 187-202.

*Raper, Railway Transportation, 14-60.

 

General Reading

Hendrick, Railway Control by Commissions, chs. ii, vii.

Johnson, American Railway Transportation, 322-334.

Parliamentary Papers, Reports of Board of Trade Railway Conference: 1909, Germany, Austria, and Hungary; 1910, Belgium, France, and Italy.

Sterne, “Railway Systems in Europe,” U. S. Sen. Misc. Doc., 66, II, 1886-1887.

U. S. Industrial Commission, Report, IX, 946-949, 955-957.

 

England

Acworth, Railways of England, 1-56.

Acworth, Elements of Railway Economics, 61-74, 131-159.

Cohn, G., Englische Eisenbahnpolitik.

Dixon, F. H., and Parmelee, War Administration of the Railroads in the United States and Great Britain, 71-127.

Edwards, “Railways and the Trade of Great Britain,” Roy. Stat. Soc. Jour., 1908, 102-131.

Evans, A. D., “British Railways and Goods Traffic,” Econ. Jour., 1905, 37-46.

Forbes and Ashford, Our Waterways, 107-177, 215-252.

Francis, J., History of the English Railway.

Gordon, W. J., Our Railways.

Gray, H. L., War Time Control of Industry, 1-13, “The Railways.”

Grindling, “British Railways as Business Enterprises,” in Ashley, British Industries, 151-172.

Jackman, W. T., The Development of Transportation in Modern England, particularly II.

Johnson and Van Metre, Principles of Railroad Transportation, 385-414.

McDermott, Railways, 1-149.

McLean, “English Railway and Canal Commission of 1888,” Quar. Jour. Econ., XX, 1-55 (1905); also in Ripley, Railway Problems, 602-649 (ed. 1907).

Moulton, Waterways versus Railways, 98-169.

Porter, Progress of the Nation (ed. 1851), 287-339.

Pratt, Railways and their Rates, 1-184.

Protheroe, E., The Railways of the World, 1-528.

Stephens, E. C., English Railways; their Development and their Relation to the State.

Thompson, H. G., Canal System of England, 1-73.

Ward, Reign of Queen Victoria, II, 83-129.

France

Buckler, “Railway Regulation in France,” Quar. Jour. Econ., XX, 279-286 (1906); also in Ripley, Railway Problems, 652-659 (ed. 1907).

Colson, Legislation des Chemins de Fer, 3-20, 133-182.

Colson, Railway Rates and Traffic, 53-111.

Guillamot, L’Organisation des Chemins de Fer, 82-120.

Kaufmann, Die Eisenbahnpolitik Frankreichs, II, 178-284.

Leon, Fleuves, Canaux, et Chemins de Fer, 1-156.

Lucas, F., Voies de Communication de la France.

Monkswell, French Railways.

Picard, A., Traité des Chemins de Fer, 5 vols.

Raper, Railway Transportation, 61-101.

 

Bibliographies

Hadley, Railroad Transportation, 146-202, notes.

Johnson, American Railway Transportation, 334.

Lavisse et Rambaud, Histoire Générale, X, 472; XI, 876-877.

U. S. Library of Congress, Government Regulation of Railways in Foreign Countries (1905-1907).

 

X. TRANSPORTATION — STATE OWNERSHIP

General Reading

*Raper, Railway Transportation, 278-305.

Acworth, W. M., Historical Sketch of Government Ownership of Railways in Foreign Countries.

Acworth, “Relation of Railways to the State,” Econ. Jour., 1908, 501-519.

Archiv fur Eisenbahnwesen. (Best general periodical for all aspects of continental railway problems and history.)

Dunn, Government Ownership of Railways, 14-36.

Hadley, Railroad Transportation, 236-258.

Jevons, The Railways and the State.

Johnson, American Railway Transportation, 336-348.

McPherson, L. G., Transportation in Europe, 149-175.

Pratt, Railways and their Rates, 185-236; Railways and Nationalization, 1-120, 253-293.

 

Germany

*Cunningham, “Administration of the State Railways of Prussia-Hesse,” Proceedings N. Y. Railroad Club, XXIII, 3124-3127, 3146-3155.

*Raper, Railway Transportation, 134-177.

Cohn, G., “State Railway Administration in Prussia,” Jour. Pol. Econ., I, 172-192.

Dawson, Evolution of Modern Germany, ch. xi.

Johnson and Van Metre, Principles of Railroad Transportation, 415-434.

Lotz, Verkehrsentwicklung in Deutschland, 2-47, 96-142.

Lenshau, Deutsche Wasserstrassen, 9-56, 95-161.

Mayer, Geschichte und Geographie der deutschen Eisenbahnen, 3-41.

Meyer, B. H.,”Railroad Ownership in Germany, Ann. Am. Acad. Pol. Sci., X, 399-421, also in Ripley’s Railway Problems (ed. 1913), 803-825.

Meyer, H. R., Government Regulation of Railway Rates, 3-33, 69-92.

Moulton, Waterways versus Railways, 170-323.

 

Other Countries

*Holcombe, A. N., “The First Decade of the Swiss Federal Railways,” Quar. Jour. Econ., XXVI, 341-362.

Cucheval-Clarigny, “Les Chemins de Fer Italiens,” Rev. des Deux Mondes, July 1, 15, 1884.

Hadley, Railroad Transportation, 203-235.

Peschaud, “Belgian State Railways,” in Pratt, State Railways, 57-107.

Raper, Railway Transportation, 102-133.

Tajani, “Railway Situation in Italy,” Quar. Jour. Econ., XXIII, 618-651.

 

Bibliographies

Cambridge Modern History, XII, 872-873, 883-884.

U. S. Library of Congress, Government Ownership of Railroads; Railroads in Foreign Countries.

 

XI. INDUSTRIAL DEVELOPMENT: ENGLAND

*Ashley, W. J., British Industries, 2-38.

*Clapham, J. H., Woollen and Worsted Industry, 1-24, 125-173.

Ashley, W. J., Adjustment of Wages, 185-229, 268-311.

Chapman, S. J., The Lancashire Cotton Industry.

Cox, British Industries under Free Trade, 2-84, 142-175, 235-276.

Gray, H. L., War Time Control of Industry, 61-100, “The Coal Mines.”

Great Britain: Coal Industry Commission (1919), Interim Report and Final Report (“Sankey Report”).

Great Britain: Final Report of the Committee on Commercial and Industrial Policy after the War, Parl. Doc. 9035 (1918).

Helm, E., “Survey of the Cotton Industry,” Quar. Jour. Econ., XVII, 417-437.

Jeans, J. S., Iron Trade of Great Britain, 1-72, 100-111.

Jevons, H. S., The British Coal Trade.

Jones, J. H., The Tinplate Industry.

Lloyd, Cutlery Trades, 30-63, 171-208.

Macrosty, Trusts and the State.

Marshall, A., Industry and Trade, 32-106.

Pollock, Shipbuilding Industry.

Porter, Progress of the Nation (Hirst, ed.), 213-432.

Schoenhof, History of Money and Prices, 148-173, 215-323.

Spicer, A. D., Paper Trade.

U. S. Dept. Commerce and Labor, English Cotton Industry (1907); British Iron and Steel Industry (1909).

Ward, ed., Reign of Queen Victoria, II, 153-196 (Slagg, Cotton Trade); II, 197-238 (Bell, Iron Trade).

 

XII. INDUSTRIAL DEVELOPMENT: THE CONTINENT

General Reading

*Copeland, Cotton Manufacturing Industry, 275-332.

Beck, Die Geschichte des Eisens.

Brauns, Samt- und Seiden Industrie.

Marshall, A., Industry and Trade, 107-139.

Schultze, Die Entwicklung der chemischen Industrie.

U. S. Dept. of Commerce and Labor, Special Agents Series, 1909-13; continued in publications of the Bureau of Foreign and Domestic Commerce.

 

Germany

*Helfferich, Germany’s Economic Progress, 1888-1913, 13-85.

Barker, J. E., Modern Germany.

Berglund, A., “The Iron Ore Problem of Lorraine,” Quar. Jour. Econ., XXXIII, 531-554.

Blondel, L’essor industriel et commercial du peuple allemande (3d ed.), 1-114, 272-412.

Dehn, R. M. P., The German Cotton Industry.

Dawson, Evolution of Modern Germany, 37-65.

Farrington, F. E., Commercial Education in Germany.

Von Halle, “Die deutsche Volkswirthschaft an der Jahrhundertwende,” Volks- und Seewirthschaft, 13-219.

Haskins and Lord, Some Problems of the Peace Conference, 117-152, “The Rhine and the Saar.”

Hauser, Germany’s Commercial Grip on the World; also Les Méthodes Allemandes d’Expansion Économique.

Howard, Recent Industrial Progress in Germany, 51-109.

Keynes, The Economic Consequences of the Peace, 56-251.

Laughlin, J. L., Credit of the Nations, 1-38.

Schumacher, H., Die westdeutsche Eisenindustrie.

Sombart, Die deutsche Volkswirthschaft im neunzehnten Jahrhundert.

Sombart, “Industrial Progress of Germany,” Yale Rev., XIV, 6-17, 134-154.

Williams, E. E., “Made in Germany.”

Wolfe, A. J., Commercial Organization in Germany (U. S. Dept. of Commerce, Sp. Ag. Ser. No. 98).

 

Other Countries

Aftalion, Le Développement de la Fabrique dans les Industries de l’Habillement.

Fischer, Italien und die Italiener (ed. 1901), 240-267.

The Industries of Russia, prepared by Department of Trade and Manufactures, Ministry of Finance, St. Petersburg, for the Columbian Exposition at Chicago in 1893.

Kennard, The Russian Year Book (1911- ).

La Belgique, 1830-1905, 397-617.

Levasseur, Questions ouvrières et industrielles en France sous la troisième République, 27-166.

Machat, Le Développement Économique de la Russie, 157-229.

Raffalovich, Russia: its Trade and Commerce.

U. S. Bureau of Foreign and Domestic Commerce, Russia: A Handbook of Commercial and Industrial Conditions, (U. S. Consular Report, No. 61, 1913).

Wolfe, A. J., Commercial Organization in France (U. S. Dept. of Commerce, Sp. Ag. Ser., No. 98).

 

Bibliographies

Cambridge Modern History, XI, 931; XII, 866, 872, 883, 903, 960.

Howard, Industrial Progress in Germany, x-xiii.

U. S. Library of Congress, Iron and Steel in Commerce (1907).

 

XIII. INDUSTRIAL COMBINATION

*British Ministry of Reconstruction, Report of Committee on Trusts (1919), 15-30.

*Marshall, A., Industry and Trade, 544-635.

Baumgarten und Meszleny, Kartelle und Trusts, 83-152.

Brodnitz, “Betreibskonzentration in der englischen Industrie,” Jahrb. fur Nat. Oek., 1908-1909, XC, 173-218; XCII, 51-86, 145-184.

Carter, G. R., The Tendency toward Industrial Combination.

Chastin, Les Trusts et les Syndicats, 13-127.

Davies, J. E., Trust Laws and Unfair Competition, 529-662.

Deutsches Kartell-Jahrbuch.

Hauser, “La Syndicalisation Obligatoire en Allemagne,” Revue d’Économie Politique, XXXII, 230-265.

Kartell Rundschau.

Liefmann, Kartelle und Trusts (ed. 1910).

Liefmann, Beteiligungs- und Finanzierungsgesellschaften.

Liefmann, R., Die Kartelle in und nach dem Kriege.

Macrosty, Trust Movement in British Industry, 24-56, 81-84, 117-154, 284-307, 329-345.

Macrosty, “Trust Movement in Great Britain,” in Ashley, British Industries, 196-232.

Notz, W., “Kartels during the War,” Jour. Pol. Econ., XXVII, 1-38.

Passama, Formes Nouvelles de Concentration, 1-171.

Paul, L., Histoire du Mouvement Syndical en France (1789-1910).

Tosdal, ” Kartell Movement in the German Potash Industry,” Quar. Jour. Econ., XXVIII, 140-180.

Tosdal, “The German Steel Syndicate,” Quar. Jour. Econ., XXXI. 259-306.

Tschierschky, Kartelle und Trusts.

U. S. Industrial Commission, Report, XVIII, 7-13, 75-88, 101-122, 143-165.

U. S. Federal Trade Commission, Report on Coöperation in the American Export Trade, I, 98-127, 272-279, 285-292.

Utsch, Kartelle und Arbeiter.

Walker, Combinations in the German Coal Industry, 38-111, 175-289, 322-327.

Walker, “German Steel Syndicate,” Quar. Jour. Econ., XX, 353-398.

 

Bibliographies

Cambridge Modern History, XII, 960-961.

Carter, G. R., The Tendency toward Industrial Combination, xi-xv.

Chastin, Les Trusts, 13-127, notes.

Liefmann, Beteiligungs- und Finanzierungsgesellschaften, ix-x.

Passama, Formes Nouvelles de Concentration, xxi-xxiii.

 

XIV. BANKING AND FINANCE IN RELATION TO INDUSTRIAL DEVELOPMENT

*Hobson, C. K., Export of Capital, 95-163.

*Riesser, The German Great Banks and their Concentration, 703-750.

Andréadès, History of the Bank of England, 331-369, 381-388.

Bastable, Public Finance (3d ed.), 629-657.

Bagehot, Lombard Street (ed. 1910).

Burrell, “Historical Survey of the Position Occupied by the Bank of England,” etc., Journal of the Institute of Bankers, XXXVI (1915), 405-425.

Dunbar, History and Theory of Banking (ed. 1917), 132-219.

Giffen, Economic Inquiries, I, 75-97, 121-228.

Giffen, Growth of Capital, 115-134.

Huth, W., Die Entwickelung der deutschen und französischen Grossbanken.

Jevons, Investigations in Currency and Finance, 34-92.

Juglar, Crises Commerciales.

Liesse, Credit and Banks in France (in Nat. Mon. Com. Reports).

McLeod, Theory and Practice of Banking (4th ed.), I, 433-540; II, 1-197.

Patron, Bank of France (in Nat. Mon. Com. Reports).

Powell, E. T., The Evolution of the Money Market, 243-705.

Van Antwerp, The Stock Exchange from Within, 323-412.

Vidal, History and Methods of the Paris Bourse (in Nat. Mon. Com. Reports).

Warburg, P. M., The Discount System in Europe (in Nat. Mon. Com. Reports).

Withers, Meaning of Money, 85-106, 138-172.

Withers, War Time Financial Problems, 15-30, 76-90, 163-179.

 

 

XV. LABOR PROBLEMS

General Reading

*Cole, G. D. H., World of Labor, 101-127.

*Dawson, Evolution of Modern Germany, 106-134 [135-169].

*Hammond, M. B., British Labor Conditions and Legislation during the War, 3-21.

*Webb, “Social Movements,” in Cambridge Modern History, XII, 730-765.

Ashley, W. J., German Working Classes, 1-141.

Board of Trade Report, 1909, Cost of Living of the Working Classes in the United Kingdom, Germany, France.

Board of Trade Report, 1911, Cost of Living of the Working Classes in American Towns (comparisons with English conditions).

Booth, Life and Labor of the People in London.

Bowley, Wages in the United Kingdom, 22-57, 81-127.

Cole, “Recent Development in the British Labor Movement,” Am. Econ. Rev., VIII, 485-505.

Cole, G. D. H., The World of Labor.

Dawson, German Workman, 1-245.

Engels, Condition of the Working Class in 1844.

Gray, H. L., War Time Control of Industry, 14-60, “Munitions and Labor.”

Hammond, J. L., and Barbara, The Village Labourer (1760-1832); The Town Labourer (1760-1832); The Skilled Labourer (1760-1832).

Hammond, M. B., British Labor Conditions and Legislation during the War (passim).

Hayes, C., British Social Politics.

Herkner, Arbeiterfrage.

Hutchins, Women in Industry (ed. 1920).

Kirkup, History of Socialism.

Lecky, Democracy and Liberty, II, 224-503.

Levasseur, Questions Ouvrières et Industrielles en France, 523-600.

Macrosty, Trusts and the State (passim).

Nicholls, G., History of the English Poor Law, II, chs. xi-xii; III (supplementary vol., 1834-1898, by Thos. Mackay).

Rogers, Six Centuries of Work and Wages (one vol. ed., 1884), 468-575.

Schloss, Methods of Industrial Remuneration.

Shadwell, Industrial Efficiency (ed. 1906), II, 307-350; or in ed. 1909, 533-568.

U. S. Commissioner of Labor, 15th Ann. Report (1900), Wages in Commercial Countries.

U. S. Bureau of Labor Statistics, Bulletin 237, Industrial Unrest in Great Britain.

U. S. Bureau of Labor Statistics, Monthly Labor Review, April, 1918, 63-83, “Social Reconstruction Program of the British Labor Party.”

U. S. Commission of Labor, 21st Annual Report (1906), Strikes and Lockouts, 775-916.

Wallas, G., Life of Francis Place, ch. viii.

Ward, ed., Reign of Queen Victoria, II, 43-83 (Mundella and Howell, Industrial Association).

Webb, English Poor Law Policy.

Wood, “Real Wages since 1860,” Roy. Stat. Soc. Jour., 1909, 91-101.

 

Labor Organizations

Ashley, Adjustment of Wages, 160-183.

Kulemann, Die Gewerkschaftsbewegung.

Levasseur, Questions Ouvrières et Industrielles en France sous la Troisième République, 642-741.

Levine, Labor Movement in France.

Webb, S. and B., History of Trade Unionism (ed. 1920).

Webb, Industrial Democracy.

 

Factory Legislation

Barrault, La Réglementation du Travail à Domicile en Angleterre.

Commons and Andrews, Principles of Labor Legislation.

Hutchins and Harrison, History of Factory Legislation (ed. 1911).

Pic, Traité Élémentaire de Législation Industrielle (ed. 1912).

Plener, English Factory Legislation.

Taylor, R. W. C., Factory System and Factory Acts.

U. S. Bureau of Labor Statistics, Bulletin 146, Administration of Labor Laws and Factory Inspection in Certain European Countries.

 

Coöperation and Profit-sharing

Aves, E., Coöperative Industry.

Corréard, J., Des Sociétés coopératives.

Dawson, Evolution of Modern Germany, 294-307.

Fay, C. R., Cooperation at Home and Abroad (ed. 1920).

Herrick, M. T., Rural Credits, 247-455.

Holyoake, Cooperation in England (ed. 1908), I, 32-162; II, 361-396.

Maxwell, W., History of Cooperation in Scotland, 43-114.

Potter, B. (Mrs. Webb), Cooperative Movement in Great Britain.

Report of U. S. Commission to investigate and study agricultural credit and coöperation in Europe (1914): 63d Cong., 2d Sess., Senate Doc. 380.

Valleroux, La Coopération.

(See also topic no. IV of this list)

 

Workingmen’s Insurance and Unemployment

Beveridge, Unemployment.

Dawson, Social Insurance in Germany.

Frankel and Dawson, Workingmen’s Insurance in Europe.

Gibbon, I. G., Unemployment Insurance.

Willoughby, Workingmen’s Insurance, 29-87.

U. S. Bureau of Labor Statistics, Bulletin 206, The British System of Labor Exchanges.

 

Population and Emigration

Bullock, Selected Readings in Economics, 255-286.

Dawson, Evolution of Modern Germany, chs. xvi, xvii.

Duval, Histoire de L’Émigration au XIXe Siècle.

Foerster, R. F., Italian Emigration of Our Times, 3-202, 415-525.

Godwin, Wm., Of Population.

Gonnard, L’Émigration Européenne au XIXe Siècle.

Leroy-Beaulieu, P., La Question de la Population.

Leroy-Beaulieu, P., De la Colonisation chez les Peuples Modernes, II, 435-522.

Malthus, Essay on Population.

Nitti, Population and the Social System.

Philippovich, “Auswanderung und Auswanderungspolitik in Deutschland,” in Schriften des Vereins für Socialpolitik, LII bd.

Wakefield, E. G., The Art of Colonization.

 

Bibliographies

Adams and Sumner, Labor Problems, references.

Cambridge Modern History, XII, 960-966.

Commons and Andrews, Principles of Labor Legislation, 465-488.

Frankel and Dawson, Workingmen’s Insurance, 435-443.

Gibbon, Unemployment Insurance, 337-342.

Harvard University, Dept. of Social Ethics, Guide to Reading in Social Ethics, 68-163, 183-209.

Hutchins and Harrison, Factory Legislation, 279-284.

Ogg, Economic Development of Modern Europe, at the end of chs. xvi-xx, inclusive.

Taylor, F. I., Bibliography of Unemployment.

Webb, Trade Unionism (ed. 1911), 499-543.

Webb, Industrial Democracy, 879-900.

Wright, Practical Sociology, references.

 

Image Source: Edwin Francis Gay and Edmund E. Lincoln from Harvard Class Album 1920.

Categories
Columbia Economists Harvard UCLA

Columbia. Ph.D. alumnus (1911) Benjamin M. Anderson, Obituary

_____________________

Benjamin McA. Anderson, Economics: Los Angeles

by Earl J. Miller, Marvel Stockwell, John Clendenin, Vern O. Knudsen

BENJAMIN MCALESTER ANDERSON (May 1, 1886-January 19, 1949), son of Benjamin McLean and Mary Frances (Bowling) Anderson, was born in Columbia, Missouri. He married Margaret Louis Crenshaw May 27, 1909. He is survived by his wife and three children, John Crenshaw, William Bent, and Mary Louise (Brown). A fourth child, Benjamin M. Anderson III, died in 1919.

Professor Anderson received the A.B. at the University of Missouri in 1906, the A.M. at the University of Illinois in 1910, and the Ph.D. in Economics at Columbia in 1911. He was a member of Phi Beta Kappa, and an active member of the American Economic Association, in which he served as vice-president and a member of the Executive Committee. He served as Professor of History in the State Normal School at Cape Girardeau, Missouri, in 1905; Professor of English Literature and Economics at Missouri Valley College, Marshall, Missouri, in 1906; Professor of History and Economics at the State Teachers College, Springfield, Missouri, from 1906 to 1911; Instructor in Economics at Columbia from 1911 to 1913; Assistant Professor of Economics at Columbia, 1913; Assistant Professor of Economics, Harvard, 1913-1918; economic advisor in the National Bank of Commerce in New York, 1918-1920; economist for the Chase National Bank of New York, 1920-1939; Professor of Economics in the University of California at Los Angeles, 1939-1949 (Connell Professor of Banking, 1946-1949).

Professor Anderson enjoyed a rich experience as a youth in his home at Columbia, Missouri. His father was for many years a prominent member of the Missouri State Legislature. Their home was the scene of innumerable political conferences to which Dr. Anderson was invited and from which he developed a keen interest in the then current political and economic problems.

Dr. Anderson’s publications were extensive, including four books and many articles and reviews. Outstanding among them were his books, Social Value, 1911; The Value of Money, 1917; Effects of the War on Money, Credit and Banking in France and the United States, 1919; Financing American Prosperity (coauthor with J. M. Clark, Columbia; A. H. Hansen, Harvard; S. H. Slichter, Harvard; H. S. Ellis, California at Berkeley; and J. H. Williams, Harvard), 1945. Much of his time during the last few years of his life was devoted to the writing of another book entitled Economics and the Public Welfare, a financial and economic history of the United States, 1914-1946. This extensive work was ready for proofreading at the time of his death. The book has now been published. It is a further major contribution to the field of economic literature comparable in quality to the high standard set in his previous works.

He contributed articles to many magazines and journals. Among them were the American Economic Review; Annals of the American Academy; Political Science Quarterly; Quarterly Journal of Economics; The New York Times; The Commercial and Financial Chronicle; The Bankers Magazine (London); The London Times; and the Wall Street Journal. During the past ten years he has published eight issues of the Economic Bulletin under the sponsorship of the Capital Research Company of Los Angeles. He associated himself for many years with a group of well-known economists in the organization known as the Economists’ National Committee on Monetary Policy, and served as President of that organization. Several of his articles were reprinted and circulated on a wide basis by that organization.

While economist for the Chase National Bank of New York, Professor Anderson published over two hundred issues of theChase Economic Bulletin, which was distributed and read extensively in government, banking and educational circles in many countries. Representing the Chase National Bank he traveled extensively in foreign countries to conduct negotiations with leading government and banking officials. He was called on numerous occasions to testify before committees of the U.S. Congress and the New York State

Legislature on questions of state, national and international policy relating to the fields of money and banking. These activities together with the wide circulation of his books, and of his articles in professional and financial journals and magazines, made him one of the best-known and most distinguished economists of his generation in both the national and international fields.

The firsthand contact with practical banking, with American and foreign banking officials, and with government agencies concerned with our economic and monetary affairs, which Dr. Anderson had enjoyed through many years, greatly enriched the content of his teaching and enabled him to provide for his students a sound and thoroughly practical experience. He originally possessed a scholarly command of history, literature, and languages which added impressively to his work, and he brought to his teaching and advisory tasks a broad perspective and keen judgment which made his pronouncements on economic affairs surprisingly accurate and wise.

Professor Anderson was a modest and distinguished scholar and a man esteemed by his colleagues for his personal qualities of kindly manner, stimulating humor, sympathetic appreciation and helpful cooperation. As a scholar and as a man he made a memorable contribution to the community in which he lived.

 

Source: Academic Senate of the University of California. University of California: In Memoriam 1949, pp. 1-4.

Image Source:  Wikipedia article on Benjamin McAlester Anderson.

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Courses Harvard Suggested Reading Syllabus

Harvard. Syllabus for Money, Banking & Commercial Crises. Anderson, 1917-18.

Benjamin McAlester Anderson (1886-1949) was awarded a Ph.D. in economics from Columbia University in 1911. His dissertation, Social Value–A Study in Economic Theory Critical and Constructive was published in the Hart, Schaffer & Marx Prize Essays series. From 1913-18 he held the rank of Assistant Professor of Economics at Harvard University. Today I post his syllabus for the course “Money, Banking and Commercial Crises” from 1917-18 that is wonderfully detailed  both with respect to topics and detailed reading assignments. The final examination questions for the second-term of the two-term course have been transcribed and posted too. I have included Anderson’s c.v. as of the publication of his dissertation in November, 1911 below. I’ll next post the University of California’s brief biography of Anderson published in its “In Memoriam” series.

_______________________

VITA
[Benjamin M. Anderson 1911]

The author was born in Columbia, Missouri, May 1, 1886. He was prepared for college in the high
school in Columbia, and attended the State University of Missouri, receiving the A. B. degree from that institution in 1906. His work in economics at Missouri was chiefly with Professor J. E. Pope. He was made a member of Phi Beta Kappa, Alpha of Missouri, in 1905. He filled a temporary vacancy in the chair of history at the State Normal School in Cape Girardeau, Missouri, during the summer session of 1905. He was Professor of Political Economy at Missouri Valley College, Marshall, Missouri, 1906-7, and from 1907 to 1911 was Head of the Department of History and Political Economy in the State Normal School at Springfield, Missouri, though on leave of absence during the years 1909-10 and 1910-11. He was Fellow in Economics at the University of Illinois during the term 1909-10, working in the seminars of Dean Kinley and Professor E. L. Bogart, and, in philosophy, in the seminar of Professor B. H. Bode. He received the A. M. degree at Illinois in 1910. As Garth Fellow in Political Economy at Columbia University, 1910-11, he studied under Professors Seligman, Seager, H. L. Moore, Giddings and John Dewey, doing seminar work with Professors Seligman, Seager and Giddings. He was appointed in 1911 Instructor in Political Economy at Columbia University. In May, 1909, he was married to Miss Margaret Louise Crenshaw, at St. Louis, Mo.

Source: Benjamin M. Anderson, Social Value–A Study in Economic Theory Critical and Constructivep. i.

_______________________

Course Enrollment

[Economics] 3. Asst. Professor Anderson, assisted by Mr. Laporte.—Money, Banking, and Commercial Crises.

Total 38: 13 Seniors, 15 Juniors, 4 Sophomores, 6 Other.

 

Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1917-18, p. 54.

_______________________

 

HARVARD UNIVERSITY
1917-18

SYLLABUS FOR ECONOMICS 3

(Money, Banking, and Commercial Crises)
Assistant Professor Anderson

Required reading is marked with an asterisk

 

Part I. MONEY

  1. FUNDAMENTAL CONCEPTS.
    1. Definitions: money; specie; currency, etc.
    2. Origin of money; origin of gold and silver money; gold as a commodity.
    3. Functions of money; common measure of values; medium of exchange; legal tender; standard of deferred payments; store of value; bearer of options; reserve for credit operations.
    4. Standard and subsidiary money; Gresham’s law and monometallism; the gold standard.
    5. Value of money: preliminary statement.

Reading.

Anderson, Value of Money, pp. 397-427.*
Phillips, Readings in Money and Banking, pp. 1-26.*
Moulton, Money and Banking, Pt. I, pp. 45-62.*
Laughlin, Principles of Money, passim.
Menger, art. “Geld” in Handwörterbuch der Staatswissenschaften.

  1. GOVERNMENT PAPER MONEY.
    1. Colonial and Revolutionary Paper Money.
    2. The French Assignats.
    3. The Greenbacks.
    4. Causes governing the value of inconvertible paper.
      1. Gold premium and index numbers.
    5. Financial results of inconvertible paper.
    6. Social and industrial consequences of inconvertible papers.

Reading.

Moulton, Pt. I, pp. 134-162; 168 (chart); 178-209, 260-66.*
Horace White, Money and Banking, chs. on Revolutionary Bills of Credit, and Greenbacks.*
Phillips, pp. 26-70, 115-120.*
Mitchell, W. C., History of the Greenbacks, and Gold, Wages and Prices under the Greenback Standard.

  1. THE STANDARD QUESTION.
    1. Early history of metallic money.
    2. History of bimetallism.
      1. Mediaeval and early modern times.
      2. England
      3. France
      4. United States.
    3. Theory of bimetallism:
      1. Theory of the ratio:
        1. Gresham’s Law.
        2. The compensatory principle.
      2. The standard of deferred payments: justice between debtor and creditor:
        1. Index numbers: of commodity prices; of wages.
        2. The commodity standard upheld by bimetallists.
        3. The labor standard by monometallists.
      3. Theory of exchanges between gold and silver countries.
    4. The monetary system of the United States.

Reading.

Phillips, Chs. VI and VII.*
Moulton, Pt. I, pp. 66-68, Chs. IV, VI, and VIII.*

    1. The gold exchange standard, and the triumph of the gold standard.
      1. India.
      2. Philippines.
      3. Mexico.
      4. Straits Settlement.
      5. Gold standard in 1914.

Reading.

Phillips, Chs. XII and XIV.*
Kemmerer, Modern Currency Reforms.

  1. THE VALUE OF MONEY.
    1. Economic Value.

Reading.

Anderson, Ch. I.

    1. Must the value of money rest on a commodity basis? Quantity theory doctrine that inconvertible paper may be sustained in value by limitation in supply.
    2. The quantity theory v. Gresham’s Law.

Reading.

Anderson, Chs. VII and XVII.
Fisher, Purchasing Power of Money, pp. 14-32.*

  1. STABILIZING THE GOLD DOLLAR.

Reading.

Moulton, Pt. I, pp. 258-60; 266-71.*
Phillips, Ch. XIII.*

PART II. CREDIT AND BANKING

  1. NATURE OF CREDIT.
    1. Kinds of credit instruments.
    2. Definitions of credit.
    3. Bank-credit—analysis of bank statement.
    4. The mechanism of the modern bank.

Reading.

Moulton, Pt. II, pp. 12-37.*
Anderson, Ch. XXIII.*
Dunbar, Theory and History of Banking, Chs. I-V.*
Fiske, The Modern Bank, pp. 25-260, omitting Chs. XXI, XXVIII, XXX.*
Horace White, ch. on Bank Statement.*

    1. The use of checks in payments in the United States.

Reading.

Phillips, pp. 150-58.*
Kinley, The Use of Credit Instruments in Payments in the United States, National Monetary Commission Report.

    1. The volume of money and credit and the volume of trade,—trade and speculation.

Reading.

Anderson, Ch. XIII.*

  1. BANK-NOTES AND BANK DEPOSITS: “CURRENCY SCHOOL” v. “BANKING SCHOOL.”
    1. Currency School and the quantity theory.
    2. Essential identity of notes and deposits under “assets banking.”
    3. Systems of bank-note issue: Suffolk system; Canada; England; France; Germany; Austria; United States national banking system.

Reading.

Anderson, Ch. XIV.*
Mill, J. S., Principles of Political Economy, Bk. III, Ch. XXIV, pars. 1 and 2.*
Moulton, Pt. II, pp. 225-58.*
Conant, Modern Banks of Issue, passim.

  1. THE ENGLISH BANKING SYSTEM.
    1. History.
    2. Analysis of present system in London: Bank of England; Joint Stock Banks; branches of foreign banks; discount houses; acceptance houses; bill brokers; Stock Exchange; commodity speculation; warehousing system and commission houses; insurance; foreign exchange.

Reading.

Withers and Palgrave, English Banking System, National Monetary Commission Report, pp. 3-110.*
Phillips, pp. 435-442; 464-473.*
Withers, The Meaning of Money.
Bagehot, Lombard Street.
Conant, Modern Banks of Issue.

  1. FOREIGN EXCHANGE.

Reading.

Escher, Foreign Exchange.*
Anderson, Ch. XVI, and Appendix to Ch. XIII.*
Weekly article in Annalist on foreign exchange market.

  1. SPECULATION ON THE STOCK AND PRODUCE EXCHANGES.
    1. Theory of speculation.
    2. The New York Stock Exchange.
      1. Methods of doing business.
      2. Contrasted with London, Paris, and Berlin exchanges.
    3. Investment bankers and underwriters.
    4. Chicago Board of Trade; New York Cotton Exchange.

Reading.

Emery, Speculation on the Stock and Produce Exchanges.
Pratt, Work of Wall Street.
Van Antwerp, The Stock Exchange from Within.
Passages to be assigned
.
Weekly articles in Annalist on stock and bond markets.

  1. “COMMERCIAL BANKING” AND SPECULATION; BANK ASSETS AND BANK RESERVES.

Reading.

Fisher, Purchasing Power of Money, pp. 47-54.*
Anderson, Ch. XXIV, and pp. 363-81, and 177-85.
Moulton, Pt. II, pp. 66-89.*

  1. CLEARING HOUSES.
    1. Methods.
    2. Extraordinary functions.
    3. The interpretation of “clearings.”

Reading.

Phillips, Ch. XIX.

  1. THE “MONEY MARKET.”
    1. “Money” v. money.
    2. “Money rates” v. interest rates.
    3. Analysis of causes governing money rates:
      1. General causes.
      2. Causes affecting special types of “paper.”

Reading.

Scott, W. A., Money and Banking, ch. on “Money Market.”* (1910 or later editions.)
Anderson, pp. 375-79; 425-32; 453-58;495-97; 516-27; 529-44.*
Moulton, Pt. II, pp. 120-136.*
Weekly article on “Money” in the Annalist.

  1. BANKING IN GERMANY.

Reading.

Phillips, Ch. XXV.*

  1. BANKING IN CANADA.

Reading.

Phillips, Ch. XXI.*

  1. BANKING IN FRANCE.

Reading.

Phillips, Ch. XXIV.*

  1. BANKING IN THE UNITED STATES.
    1. Before the Civil War.
      1. The two National Banks.
      2. State and private banks.
    2. Origin of the national banking system.
    3. State banks and trust companies; private banks; savings banks, etc.
    4. Comparative growth and present status of different classes of institutions. Geographical distribution.

Reading.

Horace White, Chs. on First and Second National banks, The Bank War, The Suffolk Bank System, The Safety Fund System, The Free Bank System, The National Bank System.*
Phillips, Chs. XV and XX.*
Barnett, State Banks and Trust Companies.

 

PART III. CRISES AND PANICS

  1. THEORY OF CRISES.
  2. FINANCIAL PANICS.

Reading.

Phillips, pp. 644-71.*

  1. HISTORY OF CRISES UNDER THE NATIONAL BANKING ACT.

Reading.

Sprague, History of Crises under the National Banking System, National Monetary Commission Report, pp. 153-320.*

  1. THE ENGLISH BANKING SYSTEM DURING THE FIRST YEAR OF THE WAR. OTHER EUROPEAN COUNTRIES.
  2. NEW YORK AND THE CRISIS OF 1914.

Reading.

Phillips, Ch. XXXII.*

  1. REMEDIES FOR CRISES AND PANICS. BUSINESS BAROMETERS.

 

PART IV. THE FEDERAL RESERVE SYSTEM

Reading.

Moulton, Pt. II, pp. 259-337.*

 

PART V. MISCELLANEOUS

  1. AGRICULTURAL CREDIT.

Reading.

Phillips, Ch. XXVII.*

  1. THE “MONEY TRUST.”

Reading.

Phillips, Ch. XXVIII.*
Anderson, pp. 516-20.*
Moulton, Pt. II, pp. 471-95.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 1, Folder “Economics 1917-1918”.

Image Source: Benjamin M. Anderson in Harvard Album, 1915.