Joseph Schumpeter did not teach at the University of Chicago in 1926 but he was sent a cable offering him $4000 to teach during the five months April through August 1926. No reply was filed with the exchange of letters between the President’s Office and the Department of Political Economy and the copy of the cable sent to Schumpeter’s address in Vienna. I would guess that the Chicago colleagues were unaware that Schumpeter had just been appointed to a professorship in Bonn in 1925. In November 1925 Schumpeter was married in a Lutheran church in Vienna, so perhaps he actually saw the informal offer.
I have added “[sic]” after the street address given for Schumpeter in Vienna. An umlaut was added, presumably by someone who thought Schumpeter’s street could use a diacritical mark. The street got its name to honor the Royal Counselor (and unumlauted) Johann Peter Strudel von Strudenhof (1648-1714).
Salaries for the 1926-27 year (found in the budget recommendations for 1927-1928) ranged from $8000 for the head of the department, L. C. Marshall (Professor) through $6000 for Jacob Viner (Professor) to $3250 for L.W. Mints (Assistant Professor) so that $4000 for two quarters of teaching was a pretty generous offer.
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Letter from Vice President Tufts to Professor Field
[COPY]
8 October 1925
Professor James A. Field
Faculty Exchange
Dear Professor Field:
Confirming our conversation, it was the judgment of the President in consultation with Mr. Arnett and myself that in view of our present financial situation we could not go beyond the provision of the budget as would be required if Professor Schumpeter were to be invited for three quarters. The suggestion was made for the consideration of the Department that it might consider an offer, preferable for one quarter or perhaps for two quarters, one of these to be the summer quarter, for which there would be funds in the present budget. If he were to be invited for two quarters the understanding is that he might be offered four thousand dollars. If for a single quarter a larger proportionate sum would doubtless be necessary, as for example twenty-five hundred dollars, although we have had several distinguished men from Europe for the summer quarter whom we have paid eighteen hundred or two thousand dollars.
The Department will of course consider whether this appointment would be its best use of the available funds.
Very truly yours,
James H. Tufts
JHT.p
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Response by Prof. Field to Vice-President James H. Tufts
The University of Chicago
Department of Political Economy
October 8th, 1925.
Mr. James H. Tufts,
Vice-president
The University of Chicago
Dear Mr. Tufts:
At our departmental meeting this noon we discussed at some length the proposal to invite Professor Schumpeter to give instruction here in the Spring and Summer quarters of the coming year. We were unanimously of the opinion that both our Summer schedule and our general departmental situation would be very much strengthened if Professor Schumpeter could be induced to come on the terms suggested in your memorandum, namely four thousand dollars ($4,000) for the two quarters.
We shall be glad, therefore, if the president’s office will extend an invitation to Professor Schumpeter. In order that we may lose no time, either in reaching him or in obtaining his tentative answer, we suggest that a cablegram be sent him asking if he would consider an appointment on the proposed terms, requesting an answer by return cable, and indicating that if his provisional answer is favorable we will write him a letter explaining fully the sort of arrangement we are proposing and the character of the work which would be assigned to him. The cablegram should presumably specify the actual dates at which his term of service would begin and end. Professor Schumpeter’s address is Strüdlhofgasse [sic] 17, Vienna IX.
If you feel that you need any additional information before you cable Professor Schumpeter will you be good enough to let me know at once? Our hope of getting him probably depends on quick action.
Sincerely yours,
[signed| James A. Field
JAP-mk
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WESTERN UNION CABLEGRAM
October 12, 1925
Professor Schumpeter
Strüdlhofgasse [sic] 17
Vienna IX
Would you consider teaching this university April first to September first next Cable and if yes letter will explain details Honorarium four thousand dollars
President University Chicago
Prepay and charge
The University of Chicago (President’s Office)
Source: University of Chicago, Department of Special Collections. Office of the President. Mason Administration. Records. Box 24, Folder “24/1 Economics Department appointments and budgets 1925-1927”.