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Distribution Harvard Suggested Reading Syllabus

Harvard alumnus. Extension course of six lectures on distribution. William M. Cole, 1896

During one of my recent scavenger hunts in the internet archive hathitrust.org I  scored the serendipitous discovery of a syllabus for six lectures given in 1896 by the recent Harvard economics A.M. alumnus and later professor of accounting, William M. Cole. His subject was the unequal distribution of wealth and the lectures were held under the auspices of the American Society for the Extension of University Teaching of Philadelphia. In previous years this subject was treated by  Richard T. Ely and John Bates Clark.

Cole had been a teaching assistant for Frank W. Taussig’s introduction to the principles of economics and one presumes much (if not all) of what Cole offered his public was theory à la Taussig, warmed up and perhaps somewhat dumbed down for popular consumption.

An earlier post provides more detail about the later career of William M. Cole.

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Homecoming, 1896

…Portland people will be interested to know that Mr. William M. Cole, who is in this city to represent the American University Extension Society at Assembly hall tonight, is a Portland boy. He was a Brown medical scholar at the High school, graduating from Harvard as one of the eleven Summa cum laude men of his class, has been instructor in political economy at Harvard and at Radcliffe, and was secretary of the Massachusetts commission on the unemployed. He is now a lecturer on economics for the American University Extension Society. Mr. Cole devotes his leisure largely to literary work. His latest work is “An Old Man’s Romance,” published last summer, and favorably reviewed by such literary papers as the Bookman, the Bookbuyer, the Boston Transcript and the Atlantic Monthly. It appeared under the pseudonym, Christopher Craigie. Mr. Cole had an article “Alone on Osceola,” in the August New England Magazine.

Source: The Portland Daily Press (Portland, Maine)
6 Feb 1896, p. 8.

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Cole Lectured on Wealth Distribution four times in 1896

  • Bangor, Maine. Mar. 16, 30 Apr. 13, 20, 27 May 4
  • Farmington, Maine. Feb 18 Mar. 17, 31 Apr. 14, 21, 28
  • Portland, Maine. Apr. 2, 9, 16, 23, 30 May 6
  • Saco, Maine. Feb. 19, Mar. 18, Apr. 1, 15, 22, 29.

Source: The American Society for the Extension of University Teaching, Philadelphia. The Citizen (April 1896) p. 72.

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[Series E.]

University Extension Lectures
under the auspices of
The American Society
for the
Extension of University Teaching.
Syllabus of a
Course of Six Lectures on

The Causes of the Unequal Distribution of Wealth Treated with Special Reference to the Principles Underlying the Problems of Labor, Land and Capital.

BY
WILLIAM MORSE COLE, A. B.
Late Instructor in Political Economy in Harvard University.

No. 16.
Price, 15 Cents.

Copyright, 1896, by
American Society for the Extension of University Teaching,
111 S. Fifteenth St., Philadelphia, Pa.

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The Causes of
the Unequal Distribution of Wealth.

CLASS.— At the close of each lecture a class is held for those students who wish to study the subject more thoroughly. All who attend the lectures may remain for the class discussion, whether desirous of participating in it or not. The object of the class is to give the students an opportunity of coming into personal contact with the lecturer, in order that they may, by conversation and discussion, the better familiarize themselves with the principles of the subject, and get their special difficulties explained.

PAPERS.— Students are urged to send to the lecturer at regular intervals papers on the topics set. These papers are returned with corrections and comment.

EXAMINATIONS.— Those students whose papers and attendance upon the class exercises have satisfied the lecturer of the thoroughness of their work will be admitted to an examination at the close of the course. Each student who passes the examination successfully will receive from the society a certificate in testimony thereof.

STUDENTS’ ASSOCIATION.— The formation of a Students’ Association for the reading and study before and after the lecture course, as well as during its continuance, is strongly recommended. In the case of fortnightly lectures the sessions of the Association may be held on the same evening of the alternate week.

REFERENCES.

NOTE.— Since Economics is a comparatively new science, the amount of new literature of which the permanent value has not yet been determined is very great. Much of the new doctrine, moreover, is incorporated in general text-books and set forth in detail rather for the specialist than for the general reader and thinker. It is deemed wise, therefore, to refer for this course to a few only of the standard books. These will familiarize the student with recognized doctrine so that he may read new literature with discrimination.

LECTURE I.

Wealth.— J. S. Mill, Political Economy, first ten pages of Preliminary Remarks; or J. L. Laughlin’s Abridgment of Mill, Preliminary Remarks.

Agents in Production.— Mill [The reference “Mill” will mean J. S. Mill, Political Economy.], Bk. I, Chaps. I to VII (incl.); or, Laughlin [The reference “Laughlin” will mean J. L. Laughlin’s Abridgment of Mill’s Political Economy.], Bk. I. F. A. Walker, Political Economy, Part. II.

Rent.— Mill, Bk. II, Chap. XVI; or Laughlin, Bk. II, Chap. VI. Walker, Polit. Econ., Part II, Chap. I, §§ 44, 45; Part IV, Chap. II.

Law of Diminishing Returns.— Walker, Wages Question, Chap. V.

LECTURE II.

Unearned Increment.— Mill, Bk. V, Chap. II, §§ 5, 6; or, Laughlin, Bk. V, Chap. I, § 5. Henry George, Progress and Poverty, Bk. VII, Chap. III; Bk. VIII, Chap. II. Walker, Polit. Econ., Pt. IV, Chap. II, §v258; Pt. VI, Chap. VII (3d Ed., Chap. X).

LECTURE III.

Wages and Profits.— Mill, Bk. II, Chap. XI, §§ 1, 2, 3; Chap XV; or, Laughlin, Bk. II, Chap. II, §§ 1, 2, 3; Chap. V. Walker, Polit. Econ., Pt. IV, Chaps. III. IV. V.

LECTURE IV.

The Increase of Capital.— Mill, Bk. I, Chap. XI and Chap. VIII; or, Laughlin, Bk. I, Chap. VIII and Chap. VI.

Trusts.— E. von Halle, Trusts (Macmillan & Co., 1895).

Railroads.— A. T. Hadley, Railroad Transportation, (G. P. Putnam’s Sons, 1890) Chaps. III, IV, V.

LECTURE V.

Wages in Different Employments.— Mill, Bk. II, Chap. XIV; or, Laughlin, Bk. II, Chap. IV. J. E. Cairnes, Political Economy, Part I, Chap. III, § 5. Report Mass. Commission on Unemployed, Pt. IV, p. 1 to lii. Walker, Wages Question, Chap. XIV.

Trade Unions.— J. E. Cairnes, Political Economy, Pt. II, Chaps. III, IV. Walker, Wages Question, Chap. XIX.

Profit Sharing.— N. P. Gilman, Profit Sharing (Houghton, Mifflin & Co., 1889) Chaps. IX, X.

The Question of Population.— Mill, Bk. II, Chap. XI, § 6; Chaps. XII, XIII; or Laughlin, Bk. II, Chap. II, §§ 4, 5; Chap. III. Walker, Wages Question, Chap. VI; Chap. XVIII, § 3.

The Wages Fund.— J. E. Cairnes, Pt. II, Chap. I. Walker, Wages Question, Chaps. VIII, IX.

LECTURE VI.

International Trade.— Mill, Bk. III, Chap. XVII; or Laughlin, Bk. III, Chap XIII. J. E. Cairnes, Political Economy, Pt. III, Chap. I.

The Classical View of Laissez Faire.— Mill, Bk. V, Chap. XI. J. E. Cairnes, Polit. Econ., Pt. II, Chap. V.

Instability of Modern Conditions.— Walker, Polit. Econ., Pt. III, Chap. VI. C. F. Dunbar, The Theory and History of Banking, (G. P. Putnam’s Sons, 1891) Chaps. I, II. Report Mass. Commission on Unemployed, Pt. IV, Introduction.

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LECTURE I.
The Agents in the Production of Wealth and the Primary Principle of Rent.

The field of economic study is the production, distribution, and exchange of wealth in civilized society and among men actuated by normal motives and conducting their operations in the normal manner. Economics, therefore, does not offer its conclusions to be applied directly to abnormal conditions or transactions. It is highly practical, for it furnishes the general, fundamental principles which give an insight into all economic activity. Its relation to politics, or the art of government, is like that of physiology to hygiene. It does not decide between policies, —it furnishes the knowledge of principles which enables one possessed of facts and having certain aims to decide for himself. (See Quarterly Journal of Economics, July, 1891, “The Academic Study of Political Economy,” by C. F. Dunbar.)

A knowledge of the primary laws of production and distribution is essential for a comprehension of the problems of wealth and poverty. Not all things useful or agreeable are wealth, but only those which are also transferable, capable of accumulation, and limited in quantity.

Man’s only physical power is that of moving things. His mechanical agency in producing wealth is therefore small. Without the forces and materials supplied by nature, man would be helpless. Yet, in modern times, even with the maximum assistance of nature, few men unassisted by capital could produce a tithe of what they consume. Thus land and labor are the requisites of production: and capital, though not always absolutely necessary, is a necessity if modern methods are used, and in any case increases the produce many fold.

Not all labor is productive of wealth; but some which seems at first sight unproductive is in reality highly productive and much that is unproductive is of far greater importance to the community than it could be if it were devoted to production.

Capital, in the economic sense of the word, is wealth set apart to assist further production. The owner has sacrificed his immediate satisfaction in the use of it by devoting it to increase the productive forces of the community. It serves its use by being consumed, but would be valueless to the community if it were hoarded. Recompense for its consumption is furnished in the product which it assists in producing.

Of the three parts into which the produce of industry is commonly divided, we shall first consider rent. Rent owes its origin to the diversity of lands. If all land were like all other land and there were enough to satisfy everyone, there would be no rent. At one time in every country there was enough good land to satisfy everyone, and therefore no one paid rent. The poor lands were not cultivated. As the community grew and required a greater produce, however, the law of diminishing returns came into effect and forced cultivation down on poorer lands or induced more expensive processes of cultivation on the old lands. As the community was thus obliged to pay more for its produce, the better lands, producing as cheaply as before, yielded more than enough to pay the normal wages and profit. The owner demanded this surplus in rent, and the cultivator not only was able to pay it, but was forced to do so by the competition of others. Rent, then, is payment made to the owner of superior land for its use, and the amount of rent is measured by the superiority of that land over land which yields only normal wages and profits, i.e., the superiority of that land over the poorest land which must be cultivated to supply the needs of the community. A change in the demand for products which affects the margin of cultivation therefore affects rents.

Not only fertility, but accessibility, surroundings, etc., determine rent. These are the chief elements in the rental price of stores, offices, wharves, factories and residences. Yet a part of this is not rent but profit on the capital invested in the buildings.

Rent forms no part in the cost of production, for it is paid for superior advantages.

LECTURE II.
The Land Question.

Rent arises not only from superior fertility or productiveness, but from superior accessibility and superior surroundings. These are variable and are often the result of the growth of society, independent of effort on the part of the owners of land. Yet the owners appropriate the increase in rental or selling value without recompense to the society which produced it. Such appropriation of “unearned increment” is the origin of many fortunes in every community. Though legally and politically just, such appropriation is morally unjust. Yet there is no apparent way of remedying the injustice by any political machinery now in operation. A man who refused to appropriate the unearned increment would simply leave it for another’s benefit. The advocates of the single tax recommend the abolition of all injustice arising from appropriation of unearned increment by seizing for public benefit without compensation to the owner, except for improvements made, all land now privately owned. This would secure for society not only all present and future but also all past unearned increment. This would bring great wealth to the public treasury and thus make it possible to relieve poverty, but it would perpetrate an injustice much greater than that which it would correct; for the greater part of the unearned increment has been appropriated by past owners, and to confiscate the property of present owners would be to take away from them property for which they have already paid a presumably fair price. The single tax advocates say that there never was properly any valid title to land, since the land was created for all and no man made it, —and that therefore it is a man’s own fault if he buys and pays for a right which the seller did not possess.

This raises the question whether the right to exclusive control over land is a moral right. The usual answer is summed up in the phrase, “Give a man an insecure tenancy of a garden, and it will become a desert; but give him a nine years’ lease of a desert, and he will convert it into a garden.” Private ownership is considered necessary for a proper care and cultivation of landed property. This, however, is solely on the ground of policy. Yet, justice demands as much. In many localities population is excessive, crowds closer and closer together, and thereby not only raises the cost of living, but destroys much that makes the pleasure of the old inhabitant. If he, and his ancestors before him, or anyone from whom he may purchase, have chosen a place for their habitation or their work, no justice can demand that he be caused to suffer by the encroachment of a new population or an increased population for which he is not responsible. If population is to grow, as some predict, until it is pressed for means of subsistence, there is the more reason for sustaining, now while the world is big enough for all, the right of anyone to secure for himself and his descendants land which shall be their allotted space. Certain incompetent classes of population can grow in excess of all usefulness for themselves or others, and as their growth involves evil to those who are innocent of irresponsible growth, the one protection in the right of private property in land cannot justly be withdrawn.

This right of private property in land, however, does not include the right to appropriate the “unearned increment” which is the creation of society. The assumption of it by society would be both just and politic. The difficulty is one of practicability. The assumption could not cover the unearned increment of the past, for that cannot be traced; it could not cover all that in the present and future, for many of the present land owners have already compensated past owners for expected increment, and would thus suffer from injustice; and the line between earned and unearned increment, and the amount of increment, are not always apparent. Justice demands this assumption, however, and ways of making it practicable will be devised.

In one class of land, no private right of ownership should be recognized at all. Much of the world’s mineral wealth, for example, is locked up in few localities. This belongs to society at large. All mines, therefore, should be public property, and managed for society’s interest.

In the same category belong all lands having special narrowly-limited properties, such as that comprising grand scenery and natural transportation routes. Permanent private control of them constitutes monopoly, which is counter to public justice.

LECTURE III.
The Relation of Profits and Wages.

No man works in these days without the assistance of capital; and even his wages are paid out of capital. Temporarily, therefore, the rate of wages will depend upon the number of persons desiring employment and the number of commodities suitable for their use which are offered them by persons desiring their services. An increase in the number of persons desiring employment, without a corresponding increase in the capital available for their payment, produces lower wages, and an increase in the capital offered as wages, without corresponding increase in the number desiring employment, produces higher wages. A sudden rise in the value of commodities produced does not necessarily bring with it the ability to pay higher immediate wages, for as wages are usually paid out of capital, the wage-paying power is not immediately affected.

Labor is required by capital. The rate of wages, therefore, cannot permanently remain below the point which suffices to supply a working population. The amount which will supply population is determined largely by the workers themselves. If workers are unwilling to undertake the support of families at a given rate of wages, the number of marriages declines, the birth rate is reduced, and the population fails to supply the demand of capitalists for workers. Then the competition of employers for workers raises wages until the point at which workers are willing to marry and assume the support of families is reached. This point is in the long run the minimum limit of wages. Though there is no maximum limit, there is in most communities a natural force which tends to keep wages from reaching a very high range. The tendency of population to increase is generally manifest, and in most communities there appears to be a marked connection between the rate of increase and the wages of labor. An increase of wages among certain classes of workers often results in a larger population; and this, when unaccompanied by a proportionally increased capital, results in a reduction of wages. Thus the rise in wages counteracts itself. This increase in population, however, is by no means universal, and is in no case necessary. An important check on sudden fluctuations in wages is found in migration of laborers.

As capital greatly increases the world’s produce, and is a necessary element in carrying on business by modern methods, the possessor of it receives a share of the produce. This share is called profit, or, more strictly speaking, interest. The justification of this share lies in the fact that capital is the result of self-denial on the part of someone at sometime, in devoting to productive use wealth which might have given him immediate personal gratification if spent. Similar self-denial is involved also on the part of an inheritor of wealth who devotes it to productive use. Interest is not only just, but its payment is dictated by policy, for capital would not increase rapidly enough to assist the growing population if this inducement were withdrawn.

Chronologically, interest or profit is a residue. It consists of the balance of production after wages are paid. If the total amount of production is fixed, the greater the share of labor, the smaller that of capital, and vice versa. The rate of profit cannot permanently remain below that point at which it is worth the while of possible capitalists to save rather than to spend their wealth; for the moment it falls below that point expenditure increases and the fund for paying wages decreases, until laborers are obliged to accept lower wages or go without work. Then this reduction of wages increases profits, and it thus restores the rate at which wealth will be saved. A very high rate of profit, on the other hand, stimulates saving, and thus, by increasing the amount of capital seeking to hire laborers, raises wages and partially counteracts itself. The migration of capital is an important check upon extreme variations.

Yet high wages and high profits are not inconsistent. The interests of laborers and of capitalists are conflicting only in the act of dividing the produce of industry. They have a common ground in the desire to increase the produce so that the share of each may be larger.

The distinction between interest and profits is wide. One is the share of the owner of capital as such, and the other is the share of a manager, — or, strictly speaking, wages of superintendence. Thus, profits though usually associated with capital, are really reward for labor; and they form the usual path by which men pass from the rank of laborer to that of capitalist.

LECTURE IV.
The Problems of Capital.

No adequate understanding of economic problems is possible without some appreciation of the amount of capital involved in modern industries. Formerly, labor was assisted by capital; now the function of labor is chiefly directing capital. Dividing capital into two parts, the auxiliary (which the laborer employs in his work), and the remuneratory (which supports the laborer while he is engaged in production), the remuneratory will be found in many industries but a tithe as much as the auxiliary. Man has acquired and accumulated great control over the forces and supplies of nature, and converting these into capital he increases many fold the production of wealth. Whatever, therefore, affects the amount of capital in a community is of great importance.

No judgment upon the value of the service of capital is adequate unless it takes into account the element of risk involved in modern investment. A turn of fashion, a change of government policy, a new discovery in science, a new invention in machinery, may annihilate not only expected profits but capital itself. New investments are often surrounded with great risk. As it is the expectation rather than the actual existence of profit that determines the conversion of wealth into capital, a rate of profit extraordinarily high is justified if the possibility of it was needed to induce capitalists to enter a venture clearly for the public good.

Great combinations of capital result often from the risks of business. The prosperity of each business firm is dependent not only on the ability of its manager, but also, in a certain degree, upon that of competitors. An ill-judged move by one firm often brings disaster to its bitterest enemies as well as to itself. A union of interest so that the wisest counsel will prevail among all concerned is a natural step. Moreover, the union forms an insurance of each against the monopoly of special privileges and improvements by the others.

Much of the gain from the combination of capital arises from the conduct of business upon large scales. Too much emphasis can hardly be placed upon this element. Great saving arises from cheaper purchase of material in large quantities; from better utilization of material through a larger range of methods, machines and facilities; and through economy in purchasing, selling and directing agencies. Each member of a combination has the advantage of the best knowledge of every other member. Whether the goods produced are sold cheaper in consequence or not, society is richer, because the energy and capital saved are available for other things.

Combinations of capital to control the markets and exact tribute from consumers have no such economic basis. They are analogous to the monopoly of rich mines discovered by accident. It will be found, moreover, that combinations of capital to force unduly high prices are seldom permanently successful unless they are founded on a natural monopoly. In such cases it is the monopoly of things which should be the property of society at large, and not the combination of capital, that brings evil. Though a powerful combination having no natural monopoly may for a time control the market, it cannot long keep prices above the point at which they would be maintained without the combination; for whenever they raise prices artificially beyond that point a large profit can be made by any outside producer, and such will not be wanting.

One is not accustomed to consider crime an element in economics. Yet we find a species of it an important element in our discussion of capitalism. Unfortunately, the great combinations are not free from evidence of it. Many of them have been known to commit robbery and bribery. Their facilities for such work in bankrupting railroads, robbing stockholders, bribing legislatures, securing unjust discrimination, and the like, are great. Though their economic power gives them this political power, the question is not properly one of economics. Justice will not suffer any economic consideration, whatever it may be, to issue the final word in the matter of combinations of capital, if it is found that they create moral degradation and political corruption.

LECTURE V.
The Problems of Labor.

Though the wages of labor are found to differ in different employments in consequence of the conditions of each trade (as, e.g., the cost of learning, steadiness of employment, agreeableness, etc.,) the differences are often found much greater than can be accounted for by such causes. The explanation lies in the existence of barriers setting off non-competing groups, — the wages of the members of each group being determined largely by the economic position of the commodity which they produce. The wages of workers above the lowest class are determined partly by the principles that govern rent. This is especially clear of the entrepreneur or manager’s class.

The steady growth of improvements, adding to the productive power of capital, decreases the proportional though not the absolute share of the laborer in the product of industry. A great hope for the laborer lies in the possibility of becoming a capitalist. The law of minimum wages shows that a laborer who begins his career with determination may become a capitalist.

Co-operation is specially directed toward the realization of interest and profits for the laborer. Its failures have been due largely to inadequate appreciation by the co-operators of the functions of the entrepreneur.

Profit sharing, though aiming less high directly, may, when scientifically conducted, give the laborer as good opportunities. In principle, it furnishes the laborer opportunity to use his employer’s facilities for producing wealth, and to share with his employer the produce resulting.

The most popular agency for improving the worker’s lot is the trade-unions. Associations of workers to gather and spread information concerning trade conditions, to set high standards of workmanship, to stir up public opinion against inhuman employers, and to perform other like functions, are economic agents of good; but trade-unions have often defied natural law and involved themselves in inevitable destruction. Their danger is the blind following of unintelligent leaders, but a knowledge of fundamental economic principles is spreading among them.

Trade-unions, co-operation and profit-sharing are at best but palliatives. The ultimate labor problem lies deeper. Three fundamental questions must be asked. What does the laborer do for society? What does society do for the laborer? What does society owe the laborer?

The grades of labor are infinite, — from him who has brute strength and will work faithfully when under supervision, to him who has executive ability to direct and combine the varied works of a thousand others. The first can barely without aid support himself, and he cannot render to society much that it desires. The service of this man is hardly greater than that of his ancestors two centuries ago: if he does more, he does so through the help of inventions or the capital of others. It is the work of others, therefore, and not his work which is of increased utility.

The worker who is able by quick mind and nimble fingers to operate a delicate machine — the manipulation of which has been taught him — contributes somewhat individually to society; but the greater part of the gain here, also, lies in the machine which he operates. If, however, he can devise new methods, acquire versatility to operate several machines and thus economise time or labor, or invent a new machine or process, he has contributed something to economic progress. The services which may be rendered to society are infinite, and society’s wants are infinite.

Wages are higher in this generation than ever before in the history of the world. The poorest laborer counts as necessities articles of consumption which were luxuries for the well-to-do a century ago . Poverty to-day is rather relative than absolute. Fluctuations in circumstance rather than continued distress constitutes present-day poverty . For the fluctuations society is largely responsible, but the opportunities for success to make a fair average are continually growing.

Society does not owe more than it has received. A proper aim of life is development, which must proceed from generation to generation. A class of population industrially as incapable as its ancestors of two hundred years ago is a drag on society. Its labor is hardly more valuable to society than to itself. The highest grades of labor, utilizing the advance in knowledge and accumulated wealth, are able to render greater service to society than to themselves, and their reward is greater in consequence.

Though society may not owe more to the laborer, can she afford to give more? Clearly the advance of wealth renders high wages possible for all. Yet, even if society owes a living to every man of this generation, it does not owe a living to all the children he may beget. Whether one accepts the so-called Malthusian theory or not , one comes face to face with poverty which is clearly due to excessive population in certain classes. The growth of these classes is out of proportion to the growth of the services which they render society, and society cannot afford to assume the responsibility for their support and for the support of their increase.

The positive check to population has but infrequent play in our civilization. The preventive, though obvious, is alarmingly absent in the classes most needing a check. The true remedy for poverty, therefore, is a combination of the preventive check, operating in these classes, with an improvement in the character of the population which, through proper conditions of birth and education, shall lift the new generations into more efficient industrial classes.

LECTURE VI.
Modern Tendencies.

Not many years ago the wealth of the community depended largely upon its own industrial conditions. As the means of transportation were improved, the natural advantages of one section were reaped in part by others, through a division of labor. Division of labor sprang up internationally as well as locally, determined by comparative rather than absolute cheapness.

Nowadays though trade is continuing between different sections of the world, it is not merely international. The inhabitants of other continents obtain some of the advantages of the natural resources of America by coming personally to our shores. This change, though not wholly economic, had its origin in economic changes.

The natural resources of America are great only relatively: great because the population is unusually energetic and has not been numerous. As America absorbs more and more of the rest of the world, and becomes more and more like it, she loses more and more of her economic advantage.

Though the tendency is for greater correspondence in the industrial condition of different countries, the tendency is for greater inequality in the distribution of wealth in each country. Every year sees new control over the forces of nature, and this control is not universally shared. The man who by executive or inventive ability can add to the comfort or pleasure of many others is usually able thereby to secure a fair income. The number of men who can and do render service to society in such manner is yearly increasing. The ignorant laborer, on the other hand, has not, as a rule, ability or capital either to make or to use new discoveries, methods or combinations. The maximum productiveness of mere obedient brute force was reached many hundred years ago, and there is no economic reason why the man who has now nothing but obedient brute force to offer society should receive more for his work than such a man received several hundred years ago. Thus as society grows both in numbers and in wealth, the difference in income between the most serviceable member of society and the least serviceable member, economically speaking, becomes greater and greater.

Not only is the distribution of wealth tending to greater inequality, but to greater instability. Commercial transactions were formerly carried on largely with money. To day, money plays practically no part except in the retail trade. Its chief use is as a common measure of value. The world’s financial work is carried on almost wholly by credit. Merchants buy goods largely with notes or with checks; these notes and checks are discounted or deposited with banks, and in return bank credits are given. With these bank credits in the form of checks other payments for goods or notes are made, and thus the circuit is completed without the use of money. Though the banks hold money in reserve for the payment of their obligations, it is in small proportion to the amount of them; and much of this money, moreover, is either bank-bills or government legal tender, — both of these being paper based almost entirely on government credit. In international relations, finally, most payments are made in drafts (which correspond in nature to notes or checks), and international balances are settled largely in bonds, which are themselves forms of credit. The failure of any person concerned in these transactions to meet his obligation may precipitate difficulty on others, who again involve a new circle, and a financial crisis may result. In such a crisis not only speculative but real values collapse, and able, careful men of high financial standing may be rendered penniless by the misjudged steps of men across seas of whom they have never heard. Labor as well as capital may be involved in these disasters, for commercial stagnation often results temporarily. With most barriers broken down between nations, each is partly involved in the disasters of others, whether those disasters result from unpredictable circumstances or from mis judged or short-sighted policy.

One of the premises of economics is freedom from artificial restrictions. Until one realizes that natural laws are in operation, one is surprised to see how wages and profits, values, prices, etc., work themselves out to equilibrium. The conclusions of economics show that things must be thus and so. Yet we must not assume too readily that they are actually so in real life. All logic is based on premises, and therefore before applying the logic of economics to any particular phase of life, we must see that the premises correspond with the actual conditions. As a matter of fact, few communities realize the freedom which economics assumes. Whether one believes that this or that is the true fundamental principle for improving the condition of man- kind, one must know that a particular individual can never be judged wholly by that which is true of his class, that the hazards of modern industrial life have rendered generalization useful only for large classes, and that individual duty toward other individuals is greater than ever before.

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Questions.

LECTURE I.

  1. Which, if any, of the following persons are agents in increasing the wealth of the community: a pianist, a piano maker, a soldier, a dress maker, an architect, a hairdresser, a teamster, the captain of an excursion steamer? In each case, give your reason for including or excluding the person named.
  2. Would the total wealth of the community be increased immediately or ultimately, or both, if you sold to your neighbor for $9000 a house which cost you $8000, thus compelling him to save $1000 on the expense of a trip to Europe, and you devoted your profit to establishing a harness shop?
  3. Explain fully the cause of rent and show how rent may be estimated.
  4. How does Mr. Walker’s treatment of the law of “diminishing returns” differ from Mr. Mill’s?

LECTURE II.

  1. Explain the nature of the “unearned increment” from land.
  2. State the grounds for the assumption of “unearned increment” by the State
  3. What do you think of the justice of Mr. George’s single tax on land?
  4. What do you think of General Walker’s objections to the public assumption of the “unearned increment?”

LECTURE III.

  1. What do you understand to be the minimum rate of wages that may prevail in any community?
  2. Is there any economic reason for paying women lower wages than men?
  3. Explain by what process wages and profits are kept at an equilibrium.
  4. What is the difference between interest and profits?

LECTURE IV.

  1. Explain the chief advantages of production upon a large scale.
  2. What is the effect upon labor of the sudden conversion of large amounts of remuneratory capital into auxiliary capital? Is this a necessary result?
  3. What do you think of Karl Marx’s statement that capital is unproductive, and interest is mere confiscation of the product of laborer’s industry?
  4. What, in your opinion, are the comparative dangers in a combination of steel manufacturers and a combination of cotton cloth manufacturers?

LECTURE V.

  1. Do you believe that the restriction of population is the only fundamental remedy for poverty in the laboring classes?
  2. What would you give as the law of the differences of wages in different employments?
  3. Would you say that the failures of profit-sharing militate against it as a practicable palliative for the condition of laborers?
  4. What do you think of a proposition to “make work” by inaugurating an eight-hour day?

LECTURE VI.

  1. Do you look upon restriction of immigration as an economic necessity in the near future?
  2. Explain the effect of changes in transportation upon the growth of cities.
  3. What do you understand to be the conditions under which international trade will spring up?
  4. What is your attitude toward the doctrine of “Laissez-faire?

Source: University Extension Lectures under the auspices of The American Society for the Extension of University Teaching. Syllabus. Series E. Number 16.

Image Source: William Morse Cole faculty portrait in Radcliffe College, Book of the Class of 1913-14. Colorised at Economics in the Rear-view Mirror.

Categories
Amherst Economics Programs Undergraduate

Amherst. 100 years of economics, 1832-1932

Even a superficial local history of one department can contain anecdotal nuggets of interest to historians of economics. This one for Amherst College was written by the University of Chicago trained economic historian George Rogers Taylor (Ph.D. 1929) whose Amherst faculty career spanned four decades. He tagged along when Paul Douglas took leave to teach at Amherst.

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One Hundred Years of Economics
[1832-1932]
at Amherst College
by George Rogers Taylor
 

                  ALTHOUGH economics is one of the oldest of the so-called social sciences, it may come as a surprise to some to learn that in one form or another this subject has been taught at Amherst probably since the founding of the college. At first no separate courses were given in economics, but it was a recognized part of the more general subject then known as moral philosophy. It will be remembered in this connection that Adam Smith himself was professor of moral philosophy at the University of Glasgow and came to his interest in economics from that more general subject. As early as 1827-28 “political economy” — now known as “economics” — was listed as required for seniors, but it is not known how much work was done or what member of the faculty directed it. Quite possibly Pres. Heman Humphrey, who held the chair of professor of mental and moral philosophy, may have done some regular teaching in economics.

                  One hundred years ago, during the school year 1832-33, political economy became a definitely recognized part of the curriculum, and Hon. Samuel C. Allen [a trustee of the Amherst College Corporation] was appointed to the faculty as lecturer in political economy [First term of Senior Studies “Say’s Political Economy” (p. 14); “ Lectures on Political Economy and Legislation will be delivered by the Hon. Samuel C. Allen” (p. 15)]. It is reported that he volunteered his services for this purpose and received by way of compensation “the thanks of the trustees.” He lectured only during this one year. Though political economy continued to be taught, there probably were no further formal lectures in the subject until 1835. In that year Hon. William B. Calhoun of Springfield [A.M. “Lecturer on Political Economy”, Nov 1836 Catalog (p. 5)], one of the trustees, was appointed lecturer in political economy [Third term, Senior year. Nov 1836 Catalog (p. 16)]. He continued to hold that position until 1849 [sic, 1835-1850 according to Amherst records]. Then, for a little more than a decade, there was no faculty representative definitely in this field; but the course continued as part of the curriculum and, at least in some years, regular lectures were given. Apparently this teaching was allotted to the professor of intellectual and moral philosophy.

                  One other lecturer in political economy was appointed before 1876. Amasa Walker [Note: Father (!) of Francis Amasa Walker] held that position from 1860 to 1869. Like Allen and Calhoun, Walker came to his teaching with the background of one interested in public affairs. In addition to holding state offices, all three men were members of the United States House of Representatives. Both Calhoun and Walker carried on their work at Amherst College while serving in Congress. All of these early teachers of political economy at Amherst were unquestionably able, public spirited, and deeply religious men.

                  The economics taught in these early lectures followed in general the lines laid down by the English classical school. The popular translation of Say’s “Political Economy” was used as a textbook until 1838, when it was replaced by Wayland’s “Political Economy” — an American restatement and simplification of the classical doctrine. But it must not be concluded that these men were dry-as-dust expositors of the “dismal science.” Nor were they among those of the period who have been so often accused of using classical economics primarily as a device for defending the status quo. All were men of liberal tendencies, much interested in the progressive movements of their day. Allen, who started out as a Congregational minister, afterwards becoming a Unitarian, was a Democrat and an ardent champion of free trade. William B. Calhoun is described as one who dealt with social and political problems more in the spirit of a philosopher than a politician. He left former political allegiances to become a strong anti-slavery Whig and was a leader in the temperance movement of the time. Amasa Walker also was an active leader in the reform movements of his day. He gave generously of his time and ability to the temperance, anti-slavery, and peace movements.

                  Of the three, Walker is the only one who was primarily an economist. He was generally recognized in his day as an authority in finance and has left writings, particularly in the field of currency and finance, which may still be read with profit by the economist and the historian. In 1866 he published his chief work, “The Science of Wealth.” His chapters on money and currency are particularly able. He was much in advance of his time in the use of statistics and graphical methods. Even in the more theoretical parts of the subject, Walker was vigorous and questioning. American conditions with which he was acquainted, not only as a business man but also as a legislator, led him to question Malthus’s famous law of population and to differ with Ricardo on certain important points of rent theory.

                  The present phase of economics at Amherst College began with the appointment of Anson D. Morse as instructor in political economy in 1876. The subject became now much more than an appendage to moral philosophy and the lectures were no longer given by ministers or practical men of affairs. From now on the teachers were professional students of social science, trained as such, and among those who were called to the chair of professor of economics were men who are numbered among the ablest in the American field.

                  Professor Morse [Anson D. Morse Papers at the Amherst College Archives] began his many years of fruitful teaching at Amherst in 1876 as an instructor of political economy. But his main interest was history, and before many years he had shifted completely over to that department. It is history, therefore, rather than economics, which has primary claim upon this man who is remembered not only as a scholar but as one of Amherst’s most stimulating teachers.

                  From 1885 down to the World War, three outstanding teachers left their impress on economics, not only by their teaching at Amherst College but also through their writings. Two of these, John Bates Clark [see also; also this post] and his son, John Maurice Clark, have made major contributions to the economic thought of the time. The elder Clark is known for contributions to economic theory that are regarded by many as the most significant which America has produced. His son has taken his place as one of the ablest and most original of American economic writers of today. The third, James W. Crook, [see also] was primarily a teacher, beloved by two generations of Amherst students.

                  In more recent years, the professors of economics at Amherst have continued to be men of outstanding ability and national prominence. Among those who were in the department long enough to leave a definite mark on the life of the College must be listed Walton Hale Hamilton, Walter W. Stewart, Paul Howard Douglas, and Richard Stockton Meriam.

                  Until 1880 only one course was given in economics. This was apparently comparable to the principles or introductory course of more recent years. It is interesting to note that the first course to be added (1880) was one in the history of socialism. As time went on other courses appeared and disappeared, but usually they were substantially in one of the four fields now covered by advanced courses — finance, labor, economic history, and advanced theory.

                  It will be noted that two tendencies in the teaching of college economics which have been increasingly prominent in the United States during the last twenty years have been completely avoided at Amherst. The first is that toward the multiplication of courses. In fact, Amherst has gone to the extreme in the other direction. A study¹ of a large number of American colleges made in 1928 brought out the fact that only three colleges offered fewer courses in economics than Amherst, and the average number of subjects per instructor was smaller at Amherst than at any other college.

                  In the second place, the trend toward the introduction of business subjects has not affected the Amherst course of study. Economics, as taught here for one hundred years, has been given from the cultural and not from the professional point of view. In fact, the early courses in moral philosophy, which included at least some economics, were in so far as they were especially designed for students preparing for the ministry, possibly more professional than are the present courses in economics which are designed for the student who is to enter any walk of life.

                  The first hundred years of economics at Amherst College has witnessed many changes. A distinguished line of teachers has come and gone. The subject matter of the courses has been somewhat altered and expanded. In the early days economics was a compulsory course during part of the senior year. As time went on the department was enlarged but study in the department was made optional. Since 1927 the introductory course has been open to sophomores. The advanced student has now four courses in the department from which he may choose: economic history of the United States, labor problems, theory of credit, and development of economic thought, and additional individual work is offered for those taking honors in economics. But though many changes have taken place, the purpose of the work has remained essentially what it has always been, to fit the student to take his place in the world as a cultured man and a good citizen.

1 E. E. Cummins, “Economics and the Small College,” American Economic Review, Vol. XXVIII, No. 4 (December 1928) p. 631.

Source: George Rogers Taylor, “One Hundred Years of Economics at Amherst College,” Amherst Graduates’ Quarterly, Vol. 22, No. 4 (August 1933), pp. 300-303.

Image Source:  1831 view of Amherst College by Alexander Davis. Restored copies are available for $44.95 (plus presumably shipping) at Vintage City Maps.

Categories
Amherst Principles Undergraduate

Amherst. Economics course offerings. Crook, 1901-1902.

At the beginning of the twentieth century there was only one instructor for economics at Amherst College. He offered elective courses to seniors.  His name was James Walter Crook, Associate Professor of Political Economy, an 1895 Columbia University Ph.D, the successor to John Bates Clark who had briefly taught at Amherst from 1892 to 1895.

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James Walter Crook
Timeline

1859. Born December 21 in Bewdley, Ontario, Canada.

1883. Married Eva Maria Lewis of Manistee, Michigan. They had no children.

1891. A.B., Oberlin College.

1891-92. Instructor in history, Oberlin College.

1892-93. Graduate fellow in economics at the University of Wisconsin.

1893-94. Graduate student at the University of Berlin, Germany.

1894-95. Graduate fellow in economics at Columbia University.

1895. Lecturer on Taxation at Columbia University.

1895. Ph.D., Columbia University.

German Wage Theories: A History of Their Development. Vol. IX, No. 2 (1898) of Studies in History, Economics and Public Law. New York: Columbia University

189599. Assistant Professor of Political Economy, Amherst College.

1899-1907. Associate Professor of Political Economy, Amherst College.

1907-27. Professor of Political Economy, Amherst College.

1912. M.A., Amherst College.

1927—. Professor Emeritus, Amherst College.

1927-33. Professor of Public Speaking at Northeastern University.

1933. Died November 22 in Springfield, Massachusetts.

Sources: Annual yearbooks of Amherst College (The Olio), Crook’s Boston Globe obituary (October 23, 1933)

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Amherst College
Economics Course Offerings

1901-02
Professor Crook

The numbers 1, 2, 3, 4 denote, not the four classes, but the successive years in which courses are offered. The letters a, b, c denote the first, second, and third terms. The letters aa, bb, cc indicate courses parallel with courses a, b, c, respectively. [p. 51]

(1 a) Outlines of economics. Walker’s Political Economy; Hadley’s Economics. (Four hour course.)

(1 b) Advanced work in economic theory. Assigned readings in Smith, Ricardo, and Mill, with especial attention to Marshall’s Principles of Economics and Clark’s Distribution of Wealth. (1 a requisite.)

(1 bb) Money and banking. Dunbar’s Theory and History of Banking; White’s Money and Banking; Taussig’s Silver [Situation in the United States]. (1 a requisite.)

The practical monetary problems of the United States are considered, and the systems of banking practised in England, France, Germany, and the United States are compared.

(1 c) Public finance; taxation; public expenditures; public debts; financial administration. Adams’s Science of Finance. (1 a requisite.)

(1 cc) Practical economic problems; transportation; monopolies; trusts. Thesis required. Hadley’s Railroad Transportation; Jenks’s Trust Problem, (1 a requisite.)

Source: Amherst College Catalogue for the Year 1901-02, pp. 53-54.

Image Source: James Walter Crook in The Olio 1905, p. 23.

Categories
Columbia

Columbia. 50th anniversary dinner of the Faculty of Political Science, 1930

The founder of the Columbia Faculty of Political Science (the home of the graduate department of economics), John William Burgess was 86 years old when the Faculty celebrated the fiftieth anniversary of its founding in October 1930. He died only three months after receiving the tributes from his colleagues to him as the evening’s guest of honor.

The Faculty of Political Science celebrated itself in style and not a lily was left ungilded.

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A few related links

Alvin S. Johnson’s remembrances of the Columbia professors Burgess, Munroe-Smith, Seligman, and Giddings.

John W. Burgess, Reminiscences of an American Scholar; the Beginnings of Columbia University. Columbia University Press, 1934).

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THE POLITICAL SCIENCE DINNER
[15 Oct 1930]

On the evening of October fifteenth, by invitation of the Trustees of Columbia University, a dinner was served at the Hotel Ritz-Carlton to three hundred and eighty-five guests, in celebration of the semi-centennial of the Faculty of Political Science at the University. At the close of the dinner President Butler, who was presiding, stepped into the reception room and soon reappeared escorting Professor John W. Burgess to the head table. When the guest of honor had been seated amidst applause,

President Butler, turning to Professor Burgess, spoke as follows:

My dear Professor Burgess, My Fellow Members of the University and our Welcome Guests: We are fifty years old, and greatly pleased; but see how far we have to go! The world of letters is just now celebrating the two thousandth anniversary of the birth of the poet Vergil; so we may confidently anticipate one thousand nine hundred and fifty years more of life, if the doctrine of stare decisis is to hold!

Imagine, if you can, what would be the satisfaction of Alexander Hamilton if he could join this company tonight. Imagine that rare spirit and great mind witnessing what has happened in that little old college of his, to the study of those subjects of which in his day he was the world’s chiefest master. We have come a long way since Samuel Johnson put that first advertisement in the New York Mercury. We have climbed many mountains; we have crossed not a few rivers; we have trudged, in weariness sometimes, over wide and dusty plains; but in these latter days we have come into our academic garden of trees and beautiful flowers with their invitations to mind and spirit to cultivate and to labor for those things which mean most to man.

Fifty years ago, as Professor Burgess told us yesterday on Morningside in words and phrases that will never be forgotten by those who heard them, he carried to completion the dream of his youth. He told us how that vision came to him as he stood in the trenches, a young soldier of the Union Army, after a bloody battle in the State of Tennessee: Was it not possible that men might in some way, by some study of history, of economics, or social science, public law and international relations, was it not possible that they might find some way to avert calamities such as those of which he was a part? And then he traced for us that story, ending with one of the most beautiful pictures which it has been my lot to hear painted by mortal tongue, the picture of that evening on the heights above Vevey, when that little group had completed their draft of a supplement to the Statutes of Columbia College, had outlined their program of study, had discussed the Academy, the Political Science Quarterly, the Studies, and had gone out to look upon the beauties of that scene, with all that it suggested and meant in physical beauty and historical reminiscence, to be greeted by the brilliant celebration of the Fall of the Bastille. It was from the trenches of Tennessee to Bastille Day on the slopes above Lake Geneva that marked the progress of the idea, which like so many great ideas, clothed itself in the stately fabric of an institution whose first semi-centennial we are celebrating tonight.

Fifty years have passed and of that group so distinguished as to be famous, our beloved teacher and chief is himself the sole survivor. It is not easy for me to find words to express my delight and the gratitude which we must all feel that he has felt able to come to us out of his peaceful and reflective retirement, that we, his old and affectionate pupils and lifelong friends might greet him in person, hear a few words from his voice and give a unique opportunity to those of the younger generation to see this great captain of our University’s history and life. [Applause.]

I repeat, most of the others of that notable group have gone on the endless journey — Richmond Mayo-Smith, eminent economist and teacher of economics; Edmund Munroe Smith, brilliant expounder of Roman law and comparative jurisprudence; Clifford Bateman, the forerunner of our work in administrative law, who died so soon that he hardly became permanently identified with the undertaking and was followed by Goodnow, detained from us tonight, unfortunately, by illness. Then came Edwin Seligman, our brilliant economist, who is in the same unhappy situation as Frank Goodnow and greatly grieved thereby; then Dunning and Osgood in History, John Bates Clark and Giddings. One after another that group was built, John Bassett Moore coming to us from the Department of State, until in a few short years Professor Burgess had surrounded himself with an unparalleled company of young scholars, every one of whom was destined to achieve the very highest rank of academic distinction. What shall I say of its achievements of the greatest magnitude, of the brilliant men who from that day to this, as teachers, as investigators, as writers, have flocked to these great men and their successors, who have gone out into two score, three score, five score of universities in this and other lands, highly trained, themselves to become leaders of the intellectual life and shapers of scholarship in these fields? Are we not justified in celebration and in turning over in our minds what it all means, not alone by any means for Columbia, but what it means for the American intellectual life, for the American public service, for the conduct of our nation’s public business, for our place among the nations of the earth and for the safe and sound and peaceful conduct of our international relations?

To each and all of these that little group, the seed of the great tree, has contributed mightily, powerfully and permanently. If ever there was a man in our American intellectual life who could turn back to his Horace and say that he had “built for himself a monument more enduring than bronze” here he is!

It is not for me to stand between this company and those who are here to speak on various aspects of that which we celebrate; but first and foremost, as is becoming, before any junior addresses you, I am to have the profound satisfaction of presenting for whatever he feels able and willing to say, the senior member of Columbia University, its ornament for all time, the inspiration and the builder of our School of Political Science and the fountain and origin of influence and power that have gone out from it for fifty years, my dear old teacher, Professor Burgess. [Applause.]

PROFESSOR BURGESS responded:

Mr. President, Colleagues, Friends, all: I did not come here tonight to add anything to what I said yesterday. I had my say, and I came to listen, and I have been fully repaid for all the trouble I have taken to get here, with what has already been said.

In thinking over, however, what I said to you in my remarks yesterday, I was struck with their incompleteness, in one respect at least; the failure to make plain the aim which I had in mind in the establishment of the School of Political Science. I do not know that I had that aim clearly in mind myself from the first, but before the school was established, it became clear, that what we intended, all four of us, was to establish an institution of pacifist propaganda, genuine, not sham, based upon a correct knowledge of what nature and reason required, geographically in reference to foreign powers, policies of government, in reference to individual liberty and social obligations.

We thought that alone upon such a knowledge, widely diffused, we might hope to have, some day, genuine pacifism, but not before.

I only wish to impress upon you that one thought and I can illustrate it by one picture. I have said to you in general terms that the idea of the School of Political Science came to me in the trenches, but it was not exactly in the trenches. It was this way; it was on the night of the second of January, 1863, when a young soldier, barely past his military majority, stood on one of the outposts of the hardly-pressed right wing of the Union Army in Tennessee, in a sentry-box….

[Here Professor Burgess drew for his audience a vivid picture of the battle of Stone’s River and rehearsed the prophetic vow which he had taken in the midst of that tragic scene, a vow to dedicate his life to aid in putting law in the place of war. These passages, made more memorable by his tone and manner, had originally been intended for his historical address the previous day, but had been excluded then for lack of time. They may now be found as the third paragraph of that address printed on a preceding page.]

You cannot wonder therefore that I say now, that I want to leave that word with you as my parting word, the Faculty of Political Science, the School of Political Science, is an institution for genuine pacifist propaganda.

Mr. President, I have only now to thank you and the other members of the faculty, all of the students or who have been students in the School of Political Science, all the friends who have met here tonight for this glorious demonstration of the fiftieth birthday of the School of Political Science, I thank you all; I am deeply grateful. I cannot express myself, my feelings will not allow it. Amen! [All arose and applauded.]

PRESIDENT BUTLER then said:

We are to have the privilege of hearing an expression from one of our elder statesmen. I remember being summoned to a meeting of the Committee on Education of the Trustees on another matter at the time when Professor Burgess succeeded in having established the Chair of Sociology. The Chairman of the Committee was Mr. George L. Rives, one of the most charming, one of the most cultivated, one of the most influential members of the University. When Professor Burgess’ proposal had been accepted and a distinguished professor of Bryn Mawr had been called to be Professor of Sociology, Mr. Rives turned to Professor Burgess and said: “Now that we have established a Chair of Sociology, perhaps someone will explain to me what sociology is.”

That has been the task of Professor Giddings. He has not only explained what it is, but by the integration of material drawn from history, from economics, from ethics, from public law, from the psychology of the crowd, he has set it forth in the teaching with which his life has been identified. He belongs in the history of the School of Political Science to the second group, the one now left to us, fortunately, in active membership. I have the greatest pleasure in presenting our distinguished colleague and friend, Professor Franklin H. Giddings, Professor Emeritus of Sociology and the History of Civilization.

PROFESSOR GIDDINGS spoke as follows:

President Butler, Doctor Burgess, and a host of friends that I see here tonight, who in former years gave me the delight of welcoming and working with them in my classroom: It was thirty years ago that I began teaching in this Faculty; that was two years before my appointment as a professor here; Professor Richmond Mayo-Smith planning to spend a Sabbatical year abroad, asked me if I would take over some instruction in sociology at Columbia in place of the courses which he was obliged to drop in social science. The Trustees of Bryn Mawr College, where I was then teaching graciously gave their consent and made this possible for me, and I was glad to improve the opportunity. This action of Bryn Mawr was subsequently followed by the appointment here of a remarkable group of men drawn from that small faculty. They included E. B. Wilson, Thomas Hunt Morgan, Frederick S. Lee and Gonzales Lodge. They came from a small college for women to take up graduate work in the faculty of this University.

I began my work in the autumn of 1892, and the work was with a class of very interesting young men among whom were two dear friends whom I greet here tonight, Professor Ripley and Victor Rosewater, soon afterward editor of the Omaha Bee. The work of that Friday afternoon course then begun and now since my retirement from teaching continued by Professor MacIver, has been uninterrupted from that day to this, I think a somewhat remarkable case of continuity in an academic program.

When I came here finally, resigning from Bryn Mawr in 1894, I was so cordially welcomed and so unfailingly assisted in every way, that you will not be surprised when I tell you my most vivid memories, my most cherished ones, of those years are of the faith, sympathy and support of these new colleagues of mine. I knew that as Professor of Sociology I was an experiment, but never once did my colleagues admit that I was, or that the teaching which I had begun was to be experimental; they assumed that it would achieve at least a measure of success. I felt many misgivings, but I wanted to find the answer to a question that disturbed me. Here was a group of gifted scholars of unsurpassed erudition in political theory, public law, history and economics, but I thought I saw multiplying evidences that the actual behavior of multitudes of human beings was not in line with the academic teachings of these men.

The carefully thought-out distinctions between the sphere of government and the sphere of liberty which our honored leader was year by year elaborating apparently had no interest for the multitude, and that embodiment of these distinctions which Americans possess in their heritage of Constitutional Law was subject to increasing disparagement and attack. That was in the days of talk about referendum, initiative, recall of judges and all that sort of thing; my question was, “Why is our political behavior so different from our political theory?”

I went to work on that question. My tentative answer was the naturalistic sociology which for two years I had been teaching in my Friday lectures. Increasing density and miscellaneousness of population mean an increasingly severe struggle for existence. The numbers of the unsuccessful multiply, and they have no understanding of the real causes of their misfortunes. Low in their minds, they attribute their hard luck to man-made injustice. Therefore, they think to better themselves by expropriation, by equalizing opportunity, by restricting liberty and, in the last resort, by communism.

In a population so constituted, government by discussion, by parliamentary methods, is obviously impossible. The working out of programs is handed over to dictators. At the present moment the political behavior of the multitude is more and more conforming to this picture, I think you will agree, and less and less to the parliamentarism and constitutionalism which half a century ago we thought we had achieved for all time.

Naturalistic sociology is abhorrent to sentimentalists, and to the men and women whom our former Fellow, Dr. Thomas Jesse Jones, calls the professional sympathizers.

I found it seemingly incompatible also with the humane ideas of men and women of nobler quality. Foremost among these was President Low. He was deeply interested in a possible salvation of the unfit which nature would eliminate. At his wish and suggestion a close coöperation was brought about between the professorship of sociology and such agencies as the social settlements, the Charity Organization Society and the State Charities Aid Association.

A way of reconciliation was easier to find then to follow. It consists in logically developing the familiar discrimination long ago made in law and political theory between the natural man and the legal person. The legal person is a purely artificial bundle of immunities and powers. The state makes it and can unmake it. The natural man is biological and psychological only. He has neither social status nor legal powers. It is theoretically possible therefore, and presumably possible in fact, to exterminate the unfit as legal persons by extinguishing their law-made capacities and powers and yet at the same time without harm to the body politic or to future generations, to seek and save the lost, as human sympathy prompts and Christian teaching enjoins, provided we save them only as natural individuals, divested of social status and legal personality.

In the years that have passed we have made some real progress, I think, in working out these possibilities. Under the leadership of Dr. Devine, for some years a member of this Faculty, and of Professor Lindsay, still here, multiplying contacts were made with every kind of accredited social work; and the study of social legislation and the programs of the Academy of Political Science, always so practical and up-to-date under Professor Lindsay’s administration, have enabled us to achieve much.

But these years have not gone by without their disappointments. We have heard of the passing on of a large number of the men that were my colleagues and associates when I came here in those early days, but there still remain a goodly number of men, many of them here tonight, with whom my relations have always been of the most affectionate nature, and the chief word I want to say to you in conclusion is that so long as the years are spared to me I shall feel that the most satisfying moments of my life have been those in which, with the aid and support of these dear friends, I have been enabled in a measure to carry on the work I came here hoping to do.

For all the time that remains I know that I shall, day by day and through all the years, if there may be years, have the most affectionate regard for these colleagues for whom it is impossible to express my feelings of gratitude and love. [Applause.]

PRESIDENT BUTLER continued:

A part of Professor Burgess’ original plan was the organization of an Academy of Political Science. Its primary purpose was to bring together former students and alumni into a permanent body for the consideration and discussion of questions which fell within the purview of the political sciences, and then to add to such a group others like-minded in that and neighboring communities.

That Academy has flourished, done notable work from that day to this, and from its ranks we are to have the pleasure of hearing from an old, very old friend, despite his youth, Dr. Albert Shaw, Editor of the Review of Reviews and Vice President of the Academy of Political Science and associated with it these many years. I have great pleasure in presenting Dr. Shaw.

Dr. SHAW then spoke as follows:

President Butler, Professor Burgess, Friends of Columbia University and Members of the Faculty of Political Science in the University: I feel more than usually diffident in standing here as representative of the Academy of Political Science, a speaker on behalf of the Academy who is not himself a member of the Faculty of the University. I may say that I have come at times near to being considered a member of the Faculty. I came to New York almost forty years ago with some academic experience behind me, and a great deal of printer’s ink on my fingers, and a great ambition to present in my editorial work in a practical way to the man in the street some of the aims and ideals for social and public improvement that I knew were represented in the work of the men who were leading the University.

I realized that the University was a great and permanent source of inspiration and of help to the body politic, that government could derive enormous aid from the standards that could be set by the University and particularly here in this great metropolis by the Faculty that Professor Burgess was gathering about him in the University.

The hospitality of the University toward me when I came here is something I remember with gratitude. I had been here only a year, almost forty years from now, when the University asked me to give lectures in conjunction with Cooper Union, on the way Europe governed its cities in contrast to the way we governed ours. I had been criticised for my writings about the city government, as I had held up some of the practical and progressive ways in which European cities were trying to provide for their own people in contrast with some of our forms of government.

Columbia University did not mind in the least my seeming heretical point of view and gave me the opportunity to speak my mind.

At other times I had the same kind of more than kindly and generous recognition from Columbia, so I have always felt that though I was working at a practical, every-day profession, I was regarded at Columbia as of the same mind and as of the same purpose. So I have tried through long years to give a little of the touch and flavor of the academic spirit to the discussions of practical and current affairs.

A good many years ago, in an acute presidential campaign when tariffs and questions of that kind were in rather bitter controversy, I thought that it might be desirable to give to the politicians of the country a little booklet [The National Revenues: A Collection of Papers by American Economists, Chicago, 1888.] presenting those subjects from the academic standpoint, written by men working in the universities; that was before I had come to New York. I was then an editor in the west. I picked up today that forgotten little book and I found that the contributors had so presented their topics that my volume is very much like one of the current issues of the proceedings of an annual or semi-annual meeting of the Academy of Political Science. Professor Mayo-Smith contributed, Dr. Seligman contributed, Professor John B. Clark contributed, Dr. James H. Canfield contributed and one or two other men who were then or have since become conspicuously associated with the work of the Faculty of Political Science, contributed to this little book of mine, published in 1888, dealing with the most acute questions with the most perfect frankness. Professor Hadley from Yale, two men from Harvard, Dr. Ely from Johns Hopkins, himself a Columbia man, all dealt with the subjects with perfect candor and without reservations, telling their views about tariffs and similar pending questions, but all with that air of truth-seeking that was in such contrast with the kind of discussion that was current at that time. It gave me as a journalist a fresh understanding of the possibility of presenting subjects in such a way that there might be permanence in the quality of the discussion, although the issue itself might change with the lapse of time.

It seems to me this permeation of our social and political life by a great body of scholars, of men who were essentially statesmen, has had a greater effect upon the country, been a greater protection to our institutions as they have gone forward, than is commonly realized. There are so many conditions in our current political life, so many things that seem unworthy in politics, so many men who hold offices who do not exhibit in their expressions and in their work the standards we should like to set for them, that we are a little confused at times; but it does seem to me that the spirit that goes out from the universities is, to surprising degree, developing the standards of public opinion and they in turn bear upon the course of practical politics and save us from many things that otherwise might be more disgraceful than anything that ever comes to light in the processes of exposure or investigation.

I remember very well the growth and development of the Teachers College and the whole science and philosophy of education as centered in Columbia University and now that in a great metropolis like this we have more than a million children being trained, I have within the last weeks looked over reports and documents of all kinds pertaining to the courses of study and instruction and the standard now prevailing in the schools of New York in order to see if I might trace there what one might call the developing standard of education as fixed and set by our institutions, like the Teachers College. It seemed to me that the profession of teaching moves on, improves the school, lifts the lives of our children to far better standards than one found here twenty, thirty, forty, fifty years ago; that in spite of any sort of condition in political life that may or may not be exposed, the standards of civilization are improving all the time in American life and largely through such agencies as that which we have heard described tonight, this remarkable leadership in the study of politics as a science and in the various departments of economic and political and social study.

The freedom with which men meet and discuss those subjects has been greatly improved by the practices that prevail in this Academy of Political Science which was one of the features of Professor Burgess’ scheme as he outlined it some half century ago. The Academy could not have developed as it has except in its close association with the University and it has enabled a great many men not in the University to come into contact with the University leadership and the association has been very valuable to them.

The Academy beginning with a small group at the University has now so extended that there are several thousand members. The Quarterly, founded at the same time, has grown and gone forward in association with the Academy; it and the annual Proceedings give the membership a sense of contact with Columbia thought. So it has been possible to hold the activities all together as an associated group, and their influence has been very valuable as the Academy has taken up from time to time current questions and problems and presented them to the country in such a way as to have undoubted influence on public opinion and the course of affairs.

Dr. Lindsay has been President of the Academy for almost a quarter of a century; he might better have spoken for it; but at least I have the opportunity to speak in praise of his work, and I know all of you would be glad to have that work so praised.

I am sure that I have spoken as long as I ought to. I can only thank the Faculty of Political Science and the Academy for permitting me to speak on its behalf. [Applause.]

PRESIDENT BUTLER then said:

I have a message from one of our seniors, kept from us tonight by illness, which I am happy to read: “It is with the greatest regret that I find myself prevented from attending the ovation to my old teacher, colleague and dear friend. Whatever of note has been achieved by the Faculty of Political Science in the half century of its existence is due in large part to the tradition of scholarship he emphasized, the spirit of tolerance he inculcated and the freedom of thought and expression he exemplified in person and so zealously guarded for all his colleagues. (Signed) EDWIN R. A. SELIGMAN.” [Applause.]

It is becoming that we should turn now to one of Professor Burgess’ “bright young men.” Among those who in the early days of the Faculty came quickly to distinction and occupied the position of Prize Lecturer for a number of years is the distinguished economist of national and more than national reputation who has served so long and with so great distinction at Harvard University that he is now Professor Emeritus of Economics in that Institution. I have the very greatest pleasure in presenting to you, as a representative of the very early group of graduates in political science from this University, Professor William Z. Ripley.

PROFESSOR RIPLEY spoke as follows:

Beloved Dean, Mr. President, Professor Giddings, and my former colleagues and outsiders: I take it that this is a family party. First I want to correct the record. Our honored President is not the first man in New York who has tried to place me on the shelf; a taxi-driver tried to do it, also, a few years ago. [On 19 January, 1927, Professor Ripley was seriously injured by an automobile in New York City. — THE EDITOR.] I am no longer Professor Emeritus; I am back on the job; in fact, when depression came on they found they could not do without me. [Laughter.]

I am here, I take it, in a two-fold capacity; first, and by all means the pleasantest, is to present the felicitations of other universities, particularly of Harvard University, to the Dean and to the School of Political Science and to confess and acknowledge that it did a pioneer work that none of us can claim a place of priority in any respect in this field. I trust you will believe me when I say that in fealty to Harvard University, I have spent a good part of the last two weeks digging over every source that I could discover in order to find some way in which Harvard University scored in this field, and I cannot find it. [Laughter.] And so I come with the full acknowledgment of my colleagues that this was pioneer work.

Think back, and see where we stood at Harvard University in this field. Dunbar, a newspaper editor, was giving one course in economics. But the elective system had not yet come in; practically all of the time of the students was tied up on a fixed schedule. This course of Dunbar’s was admitted on the side as an extra and didn’t amount to much except in quality; in following it stood for very little at the time of the foundation of this School of Political Science. Macvane was there in history; there was nobody in government; there were one or two attempts by other men but they were half-hearted and one might characterize them as one did on a certain occasion speaking of a man, saying “he was a good man in his business career, but he was not a fanatic about it.” And so we acknowledge with the utmost gratitude the contribution that you made, sir, and that this University made, in founding the School of Political Science.

We have but one satisfaction. That was that in these endeavors there was a very happy understanding between the two institutions. The Political Science Quarterly and the Quarterly Journal of Economics, if I am not misinformed, started in the same year. For a moment there was a little feeling lest there might be rivalry, but I am told in the interchange of correspondence largely by Mayo-Smith on your side and Dunbar and Taussig on our end, that there was not only understanding but accord and agreement that they would divide the field. They have never been rivals and each has been utterly proud of the achievement of the other.

I spoke of there being a two-fold capacity in which I appear. I take it I am exhibited here as a horrible example, one of the products of this School of Political Science. I am tempted to paraphrase an introduction an acquaintance of mine told me he heard Mark Twain give in Sydney, Australia, the time he went around the world. He came on the platform for his lecture with a lugubrious countenance and said: “My friends, Julius Caesar is no more; Alexander the Great has passed on; Napoleon has joined his fathers, and I am not feeling very well myself!” [Laughter.] If I were to paraphrase that, I should put it something like this: The glacial epoch took place we will say ten million years ago; the Pyramids were set up six or eight thousand, (we won’t quibble about a thousand more or less) and I graduated from the School of Political Science thirty-seven years ago! [Laughter.]

There was a connection, perfectly happy on my side, as Prize Lecturer so long as I was at Tech, but Dr. Seligman told me frankly when chosen as Professor at Harvard, that would have to come to an end. He said, “You could hardly ride two horses, even if you ride parallel.” So I resigned, with a whole year to run on that Prize Lectureship; think of it!

Thinking back over the early days, it may take down your pride to think how modest some of those affairs were. My lot as a teacher here was not as happy as Professor Giddings’. He spoke about his class being experimental, in a way. I was there as a student the first year; there must have been thirty or forty of us at least; [turning to Professor Giddings] you didn’t have to worry when a rainy day came, or a snow storm, wondering whether you would lose your whole body of students. I did! For two or three years, in that course in anthropology, I had only two students, and when you have only two, the weather counts. [Laughter.] I realized that on another occasion when the Hartford Theological Seminary decided to go into sociology. I had two students. The next year the course was not repeated because those two married one another! [Laughter.]

In this Academy of Political Science that they are blowing about, I read a paper the first year of my attendance here at Columbia, down at Forty-ninth Street. We held the meeting in Dr. Seligman’s office; you remember what a little place that was? Francis A. Walker was there; I got him to go. Dr. Seligman was there. I think Mayo-Smith came. Nobody else but the faculty, Francis A. Walker and the speaker; we had a wonderful meeting, and I got the chance of publishing that paper in the Political Science Quarterly. But the existence of that Academy, even in that little way, in its early beginnings, was stimulating. The young student could feel that there was an opportunity to present something he had worked out in his own head, and all these agencies played in together, the Quarterly was there to publish the paper and when it appeared as an address before the Academy of Political Science the world at large didn’t know how many people there were not present at the time. [Laughter.]

In closing I want to emphasize for you the happy fact that this Faculty, this School of Political Science should have arisen in the greatest center of population and activity in our whole country; you don’t realize it, you who live in it. If you lived in a remote part of the country, where as Barrett Wendell once told me he doubted whether most of our colleagues realized that the Charles River was not mightier than the Mississippi, you would realize what a live spot New York is, and, I take it, to the economist and student of government it is a little bit like Vienna in its attractiveness to the medicos; you get what diseases you get in very, very advanced stages. As a spot where you get the ultimate fruition and decomposition of human endeavor, New York seems to me to be unsurpassed.

That is why it is such a royal laboratory, why there is such a stimulus to the young men coming from all over the United States to be suddenly thrown into this great aggregation of human beings. I like to apply the description that I ran across the other day in Hardy’s letters. Somewhere he spoke of London, “that hot plate of humanity, on which we first sing, then simmer, then boil, and dry up to ashes and blow away.” That is New York, viewed from the outside. Never in our history has there been such opportunity for wholesome, stimulating activity and an example of a body like this, than at the present time.

We are all of us appalled and discouraged at times by what we see, and tempted to lose faith and “let ’er slide,” but it is the continued activity of institutions of this sort and led by this particular School which means so much for the whole land. And so, from the outside, I bring felicitations, and from the inside I bring affectionate acknowledgment. [Applause.]

PRESIDENT BUTLER:

Not even in darkest New York can one always be wholly accurate. The other day a typical old-fashioned New Yorker, a former student in the School of Political Science, ventured to offer to the public a list of the really controlling personalities in the life of America. [See James Watson Gerard, 1889 C, 1891 A.M., 1929 LL.D., in the New York newspapers of 21 August, 1930.] Shortly afterward Rollin Kirby had a cartoon in which he had a bootlegger standing with a racketeer, and they were looking at this list. One said to the other: “That man is simply ignorant!” [Laughter.]

Yesterday, Professor Burgess made it clear in a score of ways why we honor at Columbia the name of Ruggles. He made it plain that it was the foresight and the energy and the persistence of Samuel B. Ruggles that enabled him to carry to a conclusion his project in the month of June, 1880. Mr. Ruggles left his physical mark upon the island of Manhattan in Gramercy Park. He left his intellectual mark through some forty years of service to old Columbia College as a Trustee, the crowning part of which was his making himself the agent to secure the approval by the Trustees for Professor Burgess’ plan. It is highly appropriate then that the Ruggles Professorship of Constitutional Law should exist and that its incumbent at the moment should be the Dean of the Faculty of Political Science, as well as the Dean of the Faculties of Philosophy and of Pure Science in Columbia University.

An anniversary of this kind offers two invitations: one to look back; with sentiment, with rich memory and affection; the other to look forward with hope, with courage and high purpose. What could be more fitting then than that we should hear in conclusion this evening from that colleague and friend who is the captain of our enterprise as it enters upon its second half century, Dean McBain.

DEAN MCBAIN responded as follows:

Professor Burgess, Mr. President, my friends and guests: We celebrate a birth, the birth of the Faculty of Political Science and of its hand-maiden the Academy of Political Science. Fifty years have unrolled since our distinguished founder called together, as he told us so vividly, so dramatically, yesterday, that small but remarkable group of young scholars who then and there dedicated their lives to the difficult but most inspiring task of applying at least the aspirations of science to the study of actualities of society. For thirty years and more he guided and he shared the life of these twin children of his youthful vision. Happily he tarries with us, as rich in intellect and experience as in years. He lingers to behold that unlike the ephemeral grass of the Scriptures this vision of his youth which grew up in the morning is not in the evening of his life cut down, dried up and withered.

I say we celebrate a birth. Much more truly do we celebrate the passing of a mere paltry half-century of our indomitable and perennial youth. Our youth must be perennial because the fields of our interests never have been and never can be fallow fields. On the contrary, they are all too fertile of problems old and of problems new, that call for investigation and study in the intensely interested but dispassionate spirit of scientific inquiry. As long as man remains on earth in something like the present estate of mind and of body just so long will the political and social sciences also remain.

I confess that as my mental fingers move across the keys of my memory, I find some difficulty in choosing the chord I would most like tonight to sound and for a moment to hold. For one thing the possible chords are numerous; for another, they are intricate of execution; for a third, I do not perform well, either in public or private, upon a theme that lies very close to my heart. The Faculty of Political Science is such a theme.

Obviously, as the President just indicated, I have a choice of toasting the past, or of hailing the present or feasting the future. Of these, to toast the past would no doubt seem the most appropriate. The occasion invites to reminiscence, to appraisal. But the truth is that our past needs no toasting; certainly it needs no toasting at our own hands. Even for our honored dead we pour our libations in reverence and affection rather than in praise or exaltation. Moreover, were I competent to the task, it would ill become me to venture to appraise the men of this Faculty and their work.

Professor Burgess yesterday told us of those thrilling events that marked the fateful fourteenth of July, 1880. I beg leave to mention another event that happened almost at the same moment, wholly unknown to that little band in Switzerland. Under that same summer moon that smiled gloriously down upon the birth of the Faculty of Political Science, in that same week of July 14th, in that same year 1880, another very important event also occurred: I was born. Important, of course only to me. The Faculty and I crossed our first quarter century mark in company, though I need scarcely remark that I, then a student under the Faculty, was somewhat more aware of and more interested in this coincidence of anniversary than were my revered preceptors. Fortunately for me we are likewise crossing our second quarter century in company.

Since the beginning of its history, only sixty-three men have held membership in this Faculty. I have personally known every one of them save two who passed beyond the portals of the University before I entered them. I can say, therefore, that I have known and that I know the Faculty, which makes it all the more difficult, not to say impossible, for me to talk to the Faculty about the Faculty.

But this I must record, striking again the beautiful note just sounded by Professor Giddings: Scholars I suppose are essentially individualists. Men have been and are appointed to this Faculty primarily on the basis of scholarly achievement and scholarly promise. But the quality of being a scholar does not inevitably preclude such qualities as irascibility, even pugnacity. It is, therefore, or it may be, only a chance, but surely a very providential chance, that this Faculty, this company of scholars, have lived their lives together in such splendid harmony. They are the most coöperative group I have ever known. Indeed, they exemplify better than any other group I have ever heard of that non-existent thing, the group-mind.

I do not imply that we have not known occasional trouble and disagreement. We are human beings. But such experiences have been Faculty ever passed, one of my fundamentally irreligious colleagues once said to me: “Jesus was right; the only thing worth while in life is love, and our Faculty has that.” He spoke truly, and I feel no shame in avowing the deep affection that the members of this Faculty have and have had for one another.

In connection with this celebration, it was at one time mooted that we should publish a history of these fifty years of the Faculty of Political Science. But such a history written by or under the aegis of the Faculty could with Jeffersonian decent respect for the opinions of mankind have been little more than a record without appraisal. It might not have been wholly barren of interest, but in its indispensably backward leaning objectivity could scarcely have failed to minify or otherwise mispresent facts. Nor could it possibly have expressed that many-faceted, flashing thing of spirit that is and always has been the Faculty of Political Science. And so it was abandoned, this project of a history. In its stead we are publishing a bibliography of all the members of the Faculty, past and present-a stark list of the titles of the books, the articles, the pamphlets, the papers of their authorhood. The list runs to something over three thousand five hundred items. To this we are appending the titles of the nearly seven hundred dissertations that have been written under the guidance of the Faculty, into the warp of which (perhaps I should say some of which) there have been woven many hours of love’s labor in the cause of sound scholarship. To some of you such a volume may seem both deadly dull and useless. I think you will find it is neither of these. To the members of the Faculty themselves this volume cannot fail to be a treasury of historical recall. To them and to others it cannot fail to be of use as a locator of vaguely remembered contributions that lie in widely scattered depositories. But more than that, I think you will find, strange to relate, that this skeleton of titles tells a story, partial it is true, but a story of the progress of the intellectual life and intellectual interests of the Faculty, and something of its services.

Consider the period in which this Faculty has lived its life. Measured in terms of cosmic history, it is less than infinitesimal. Measured in terms of even authentic human history, it is almost negligible. But in terms of social, economic, even political change, this fifty years just past is probably longer than the millennium between the fall of Rome and the discovery of America, or the tercentenary span between Gutenberg and Arkwright. In this packed period of change in the subjects of its interest, the Faculty has lived its thus far life; and its deep absorption in the problems of its own age is reflected in this list of writings, not, of course, but what numerous other interests are also reflected. Our distinguished founder, as our distinguished President remarked the other day, was indeed both prophet and seer. But of a certainty, as Mr. Justice Holmes once said of our constitutional fathers, he and his coadjutors “called into life a being the development of which could not have been foreseen completely by the most gifted of its begetters.”

A glance at the formidable list of its publications might convince one that the members of this Faculty, apart from student contacts, have spent their entire lives behind locked doors reading, pondering, writing. This is far from fact. Again and again its members have responded to knocks upon those doors calling them to exacting public and quasi-public service. To you, Mr. President, both the public and the Faculty owe an unpayable debt, in that you have not only given sympathetic ear and understanding thought to the scholarly interests and desires of the Faculty but have also aided and abetted in every possible way their ambitions to be of use in the formulation of public policies and the direction of public affairs. You recognized, as one would know you would recognize, that their scholarship equipped them for service as their service enriched their scholarship. Pericles once said of Athens that it differed from other states in that it regarded the man who held himself aloof from public affairs not as quiet but as useless. Almost, though not quite—it should not be quite the same may be said of the Faculty of Political Science.

You see I have, despite my disclaimer of intention, been toasting the past. I would do more. The loss of a great scholar whether by retirement or resignation or death is always irreparable. Someone else may take his chair, may succeed to his subject, though not even that always happens. But nobody ever takes his place. He would not be a great scholar if his place could be taken. We have had losses from time to time with the results I have just mentioned, and so the company with the passing of the years gradually changes in personnel, in point of attack, in point of specific interest, in method of approach. It could not be otherwise, and those who have gone before would not wish it otherwise. They need no reflectors, no echoes. And well they know that each scholar must with his own hands laboriously carve his niche in the huge hall of human fame, and that the work of carving is not the work of a day or a year, but of a life. The spirit alone remains unaltered—the spirit of fearless and unrelenting search for social truth and of devotion to the high and precious ideals of scholarship.

And so, Mr. President, while with all my heart and soul I toast our honorable past and the achievements that have gone into its making, I also hail with satisfaction our honorable present, and feast with great confidence the honor of our future. [Applause.]

PRESIDENT BUTLER said in conclusion:

This notable and memorable evening comes to its end. My dear Professor Burgess, may I, for all this company, say once more to you what a satisfaction, what a deep satisfaction, your presence and your words yesterday and today have given us. As to our younger members who are personally known to you for the first time, we, their elders, may well feel that we have offered them a benefaction. We only say, my dear Teacher, Au revoir! As you go back to your quiet home, your books and your reflections, it will continue to be your spirit, your teaching, your ideals that will guide and inspire us, as we set out on the second half-century of the study of what Mr. Oliver has so charmingly described as The Endless Adventure, the government of men. [Applause.]

SourceColumbia University Quarterly. Vol. 22 (December 1930), pp. 380-396.

Image Source: John W. Burgess in Universities and their Sons, Vol. 2. Boston: R. Herndon Company, 1899,  p. 481. Colorized by Economics in the Rear-view Mirror.

Categories
Columbia Economists Germany Popular Economics Princeton Teaching

New York City Schools. Essay on Economics and the High School Teacher of Economics. Tildsley, 1919

Every so often I make an effort to track down students whose names have been recorded in course lists. I do this in part to hone my genealogical skills but primarily to obtain a broader sense of the population obtaining advanced training in economics beyond the exclusive society of those who ultimately clear all the hurdles in order to be awarded the Ph.D. degree. This post began with a simple list of the participants in Professor Edwin R.A. Seligman’s seminar in political economy and finance at Columbia University in 1901-02 published in the annual presidential report for that year (p. 154).

 John L. Tildsley’s seminar topic was “Economic Aspects of Colonial Expansion.” I began to dig into finding out more about this Tildsley fellow, who was completely unknown to me other than for the distinction of having attended a graduate course in economics at Columbia but never having received an economics Ph.D. from the university.

It turns out that this B.A. and M.A. graduate from Princeton had indeed already been awarded a doctorate in economics from the Friedrichs Universität Halle-Wittenberg (Germany), renamed the Martin-Luther-Universität Halle-Wittenberg in 1933, before he took any coursework at Columbia. A link to his German language doctoral dissertation on the Chartist movement is provided below.

I also found out that John Lee Tildsley went on to a distinguished if controversial career [e.g., he had no qualms about firing teachers for expressing radical opinions in the classroom] in the top tier of educational administration for the public high-schools in New York City. No less a critical writer than Upton Sinclair aimed his words at Tildsley.

For the purposes of Economics in the Rear-View Mirror John L. Tildsley is of particular interest as someone who had done much to introduce economics into the curriculum of New York City public schools.

Following data on his life culled from Who’s Who in America and New York Times articles on the occasions of his retirement and death, I have included his March 1919 essay dedicated to economics and the economics teacher in New York City high schools. 

_________________________

Life and Career
of John Lee Tildsley

from Who’s Who in America, 1934

John Lee Tildsley, educator

Born in Pittsburgh, Pennsylvania, Mar. 13, 1867;
Son of John and Elizabeth (Withington) Tidsley;
Married Bertha Alice Watters, of New York City, June 24, 1896;
Children—Jane, John Lee, Margaret, Kathleen (deceased).

B.A., Princeton, 1893 [Classmate of A. Piatt Andrew], M.A. 1894;
Boudinot fellow in history, Princeton, 1893-94;
Teacher Greek and history, Lawrenceville (New Jersey) School, 1894-96;
Studied Universities of Halle and Berlin, 1896-98, Ph.D., Halle, 1898;
Teacher of history, Morris High School, New York City, 1898-1902;
Studied economics, Columbia, 1902;
Head of dept. of economics, High School of Commerce, 1902-08;
Principal of DeWitt Clinton High School, 1908-14;
Principal of High School of Commerce, 1914-16;
Associate Superintendent, Oct. 1916-July 1920;
District Superintendent, July 1920, City of New York.

Member: Headmasters’ Assn., Phi Beta Kappa.
Democrat.
Episcopalian.

Formulated and introduced into public schools of New York City, courses in economics and civics for secondary grades. Speaker and writer on teaching and problems of school administration.

Club: Nipnichsen.
Home: [2741 Edgehill Ave.] Spuyten Duyvil, [Bronx] New York.

Source: Who’s Who in America 1934, p. 2356.

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Tildsley’s 1898 doctoral dissertation on the Chartist movement (in German)

Tildsley, John L. Die Entstehung und die ökonomischen Grundsätze der Chartistenbewegung, Inaugural-Dissertation zur Erlangung der philosophischen Doktorwürde der hohen philosophischen Fakultät der vereinigten Friedrichs-Universität Halle-Wittenberg. Halle a.S. 1898.

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New York Times, September 2, 1937

Dr. John L. Tildsley, Associate Superintendent of Schools, retired on Sept. 1, 1937.

One of Dr. Tildsley’s pet ideas has been the formation of special schools for bright pupils. As a result of his efforts two such schools are to be established in this city, the first to be opened next February in Brooklyn.
‘This new school will develop independent habits of work on the part of the superior student,’ he has explained. ‘Special emphasis will be placed upon the development of social-mindedness.’

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New York Times, November 22, 1948

Dr. John L. Tildsley died November 21, 1948 in St. Luke’s Hospital, New York, N.Y.

In 1920, having fallen out of the graces of Mayor John F. Hylan because of a political speech, he was denied a second term as associate superintendent.
At the urging of many admirers, he was assigned to the position of assistant superintendent which he held until the Fusion Board of Education restored him to his former rank in the spring of 1937.
When Dr. Tildsley was demoted he refused to be silenced, constantly championing controversial causes. He attacked the ‘frontier thinkers’ of Teachers College, and charged that under the existing high school set up much waste resulted to the city and to the pupil.
He urged the development of ‘nonconformist’ pupils, and angered patriotic organizations by suggesting that patriotic songs and holidays have little value in the schools.
Born in Pittsburgh of British parents, Dr. Tildsley received his early education in schools in Lockport, N.Y., and at the Mount Hermon School. Instead of becoming a minister, as he originally had planned, he decided to study at Princeton University, where Woodrow Wilson was one of his instructors for three years.

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Tildsley became a target of Upton Sinclair’s critical pen for his campaign to regulate teachers’ opinions expressed in school

Upton Sinclair, The Goslings: A Study of the American Schools (1924). See Chapters XV (Honest Graft) and XVI (A Letter to Woodrow Wilson), XVII (An Arrangement of Little Bits).

Cf. Teachers’ Defense Fund. The Trial of the Three Suspended Teachers of the De Witt Clinton High School (1917).

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HISS TILDSLEY FOR PRAISE OF GERMANS
School Superintendent Aroused Criticism by Talk in Ascension Parish House.
LIKES TEUTON DISCIPLINE
When He Said Their Military Success Was a Credit to Them the Trouble Began.

The New York Times, December 10, 1917.

Dr. John L. Tildsley, Associate Superintendent of Schools in charge of high schools, whose investigation of the opinions of the teachers at the De Witt Clinton High School resulted in the suspension and trial of three of them and in the transfer of six others, was hissed last night in the parish house of the Church of the Ascension, Fifth Avenue and Eleventh Street, when he said that the success of the Germans in military affairs was a credit to them rather than a discredit, and that their “good qualities” ought not to be ignored even if “they happen to be our enemies.”

Dr. Tildsley was also denounced as a “Prussian by instinct and education,” because of his laudation of family life in Germany and because he asserted that it was desirable to have in this country more obedience instinctively to authority as exemplified by the obedience of the German child to its father. The denouncer was Adolph Benet, a lawyer, who said that Dr. Tildsley’s sojourn in Germany, where he studied at the University of Halle, caused him to misunderstand Germany.

“There is one thing that is bad in Germany,” declared Mr Benet. “That thing is unqualified and instinctive respect for authority. And Dr. Tildsley, after living in Germany and observing the country, would come here and try to introduce here the worst part of the whole German system. I say Dr. Tildsley is a Prussian by instinct and a Prussian by education. Why did he not say these things two months ago when many were denouncing a Judge who is now Mayor-elect?”

The stormy part of the evening took place in the parish house, where the audience repaired to ask questions after Dr. Tildsley delivered an address in the church on “Regulation of Opinion in the Schools.” The hissing of the speaker occurred during his explanation of his ideas on obedience. He explained the system of instinctive obedience to authority which marks all Germans, and then said: “German family life is magnificent, and we ought to emulate it.” Here the hissing began. A minute later it began again and grew in volume for about minute, when it stopped.

In reply to another question relating to his charges against teachers, Dr. Tildslev. said that teachers have too much protection in the schools, and that not a single high school teacher in nineteen years has been brought up on charges. In this connection he declared that when a teacher is brought up on charges the Board of Education is handicapped in the handling of the case because must accept such a lawyer as it gets from the Corporation Counsel while the teacher may get the cleverest lawyer that money can buy. This was taken by the high school teacher in the audience to mean that Dr. Tildsley was dissatisfied with handling of the trial against the three teachers by the Corporation Counsel.

In his formal address Dr. Tildsley said that the teachers who were tried and those who were transferred were not accused of disloyalty. Later. in the parish house. he said he believed they were all internationalists and doubted whether a teacher who had the spirit of internationalism had the spirit necessary to teach high school students.

He said the teachers he investigated held that unrestricted expression of opinion was the best means of developing good citizenship. With this point of view he said, he and others differed. He quoted one teacher as being a believer in Bertrand Russell and he read from one of Russell’s works a passage which said in substance that it did not matter what the teacher said but what he felt and that it was what he felt that reached the consciousness of the pupils. It was Dr. Tildsley’s belief that the opinions which the teachers hold are accepted by the pupils, even if they if they were unexpressed. Dr. Tildsley read the letter of Hyman Herman, the sixteen-year-old pupil whose composition was the basis for a charge against Samuel Schmalhauser one of the suspended teachers. In this letter President Wilson was denounced as a “murderer.” Dr. Tildsley said the teacher was in in no way responsible for the letter.

While the speaker said that the teachers loyal he investigated were not disloyal and declared their convictions were honest, he also said that though the nation had gone to war they were unable to subscribe to the decision of the majority. He divided the radical group among the teachers into three classes, those who believe in absolute and unrestrained expression by the students, those who are opposed to the war and do not believe in it, and a third class, born in Germany, , who cannot be blamed for feeling as they do about Germany. The last mentioned he declared, must not allow any of their feelings to escape into their teaching. He gave a clean bill oi health as to loyalty to all the teachers in the De Witt Clinton High School.

“A teacher is not an ordinary citizen who has the right to express his opinions freely,” continued Dr. Tildsley. “Every teacher always teaches himself, and if he has not the right ideas toward the Government he has no right to accept payment from the taxpayers. We make no claim that any of these teachers were consciously disloyal, but if because of this belief in unrestricted utterance they spread disloyalty they are not persons to be intrusted with the teaching of citizenship to students.”

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From the New York Times, November 5, 1918:

…the dismissal of Thomas Mufson, A. Henry Schneer, and Samuel D. Schmalhausen in the De Witt Clinton High School was upheld by Acting New York Commissioner of Education E. Thomas Finegan.

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ECONOMICS AND THE TEACHER OF ECONOMICS IN THE NEW YORK CITY HIGH SCHOOLS

John L. Tildsley,
Associate Superintendent in Charge of High Schools.
[March 1919]

Every student graduated in June, 1920 and thereafter from the general course of the high schools of New York City, must have had a course in economics of not less than five periods a week for one-half year. This requirement, recently adopted by the Board of Superintendents, is one of the changes which may be charged directly to the clearer vision of our educational needs which the war has brought us. Many of us have long believed that economics is an essential element in the curriculum of the public high school, whose fundamental aim is to train the young to play their part in an environment whose ruling forces are preeminently industrial and commercial. But it has required the revelation of the dangers inherent in our untrained citizenship to cause us to force a place for the upwelcome intruder among the college preparatory subjects whose vested rights are based on immemorial possession of the field of secondary education.

One of the chief aims of the Board of Superintendents in establishing this new requirement is, without doubt, to give high school students a specialized training which shall bring to them some understanding of the forces economic and political which so largely determine their happiness and general well being, to the end that these students shall discharge more intelligently their duties as citizens in a democracy, and shall develop their productive capacity to the increase of their own well being and to the resulting advancement of the common good. A further reason for introducing economics is the belief that the boys and girls who have had this training will be better able to analyze the various remedies proposed for the evils of our social organization and to detect the iallacies which are so often put forth as measures of reform. These students should find in such training an antidote to the movements which have as their aim the over throw of institutions which the experience of our race has evolved through the centuries.

Because of this realization that economics deals not only with the conduct of business enterprises but also with political institutions and with movements for social amelioration, it is apt to enroll among its teachers the enthusiastic social reformer whose sympathies are all-embracing, who readily becomes a propagandist for his or her pet project of reform, and who finds it impossible to resist the temptation to enroll converts among the trusting students of his or her classes. It is because of this conception of the nature of economics teaching in our educational program that the new subject has been some what despised by the teachers of the sterner disciplinary subjects.

With full sympathy with the vocational aim of economics, I would offer as its chief claim for a place in our high school curriculum, that it is essentially a disciplinary subject, that it can be taught and should be taught so as to yield a training of the highest order, somewhat different in its processes, but no less searching in its demands upon the students, than mathematics or physical science.

It is a subject, therefore, to be taught by the man with the keenly analytical mind, by the man who can detect the untruth and train pupils to detect the untruth in the major premise, by the man who from tested premises can proceed to a valid conclusion. Economics is essentially applied logic rather than a confused program of social reform, as too many of its advocates have led the layman to believe.

Economics in the past has been for the most part a college and university subject. Consequently the well-trained student of economics has found his work in the college, in government service, on newspaper or magazine, and, in ever-increasing numbers, in bank ing and finance. Practically none has sought to find a career for himself in secondary work.

With full knowledge of this fact, we have added economics to the high school curriculum in the hope that ultimately the demand will create a supply of teachers thoroughly trained in economic theory before they begin their teaching. Meanwhile, we confidently expect that men thoroughly trained in other subjects which require a high degree of analysis and synthesis, will come to the rescue as they see the need. Applying the knowledge of scientific method which they possess to the new subject matter, these teachers may speedily acquire that mastery of principles which is necessary for the effective teaching of economics.

In my own experience, as I sought for economics teachers in the High School of Commerce, I found them among the teachers of mathematics and of biology. Certain of these teachers, who had an interest in business and public affairs and who were masters of scientific methods, became in the course of a single term expert teachers of economics. They even preferred the new subject to the old, because of the greater interest manifested by the students in this subject which never fails to enlist the enthusiastic interest of students when properly taught.

I trust, therefore, that some of our teachers who enjoy close, accurate thinking will take up some economic text, such as Taussig, Seligman, Seager, Carver, or Marshall, and, having read this, will follow it up with other texts on the specific fields of economics to which they find themselves attracted. Very soon, I believe, such teachers, in view of the urgent need for teachers of economics, will realize the very great service they can render our schools by utilizing their knowledge of boys and girls, their mastery of method, their awakened interest in economics and social phenomena, in training these boys and girls in this most vital subject.

As a text book for classroom use, I recommend a systematic book, such as Bullock’s Introduction to [the Study of] Economics, which lays the emphasis on principles rather than on descriptions of industrial processes or on the operation of social agencies. There are several books which are more interestingly written, but in the hands of most teachers they will lead to a descriptive treatment of industry and social institutions, to discussions for which the students are not qualified because of their ignorance of and want of drill in economic principles.

Our students need to be trained in economic theory before they attempt to discuss measures of social reform. They need to grasp the meaning of utility, value, price, before they take up the study of industrial processes. It is because of hazy conception of these primary elements that we fall so readily into error. The key to economic thinking lies in a clear understanding of the terms margin and marginal. The boy who has digested the concept “marginal utility” is already on the way to becoming a student of economics. Until he has arrived at an understanding of the nature of value, he is hardly ready to discuss socialism, wage theories, the single tax or other like themes.

The temptation for the untrained or inexperienced teacher is to begin with the study of actual business, partly as a means of interesting the student by causing him to feel that he is dealing with practical life, partly because he conceives business as a laboratory and desires as a scientist to employ the inductive method. The study of the factory or store takes the place of the study of the crayfish. The analogy does not hold. Induction in economics is the method of discovery, it is not the method of teaching, especially of secondary teaching. The method is deductive. The teacher must assume that certain great principles have been shown to be valid. He should drill on these principles and their application till the pupil has mastered them.

Let no one believe that this means a dull grind. Even such a subject as marginal utility can be made interesting to every student. It is altogether a matter of method. The concept must be presented from a dozen different angles. There must be no lecturing, no mere hearing of recitations. The pupil must not be assigned a few pages or paragraphs in the book and then left to work out his salvation. The real teaching must be done in the recitation period, with the teacher at the blackboard with a piece of chalk in his hand, ready to answer all questions and with a dozen illustrations at his command with which to drive home the principle, illustrations with which the pupils are thoroughly familiar because taken from the daily occurrences about them. For example, to explain the principle that the value of any commodity is determined by its marginal utility and that its marginal utility is the lowest use to which any commodity must be put in order to exhaust its supply, take the teacher’s desk as the illustration. Elicit from the pupils the different uses to which that desk may be put, and write the list as it is given on the blackboard. Some boy will remark that the desk could be used for firewood and will ask why the value of the desk is not determined by its utility as firewood; then comes the query, will not the supply of desks be exhausted before it is necessary to use them as firewood? As a result of this give and take process, the boys, in one recitation, may grasp this principle which is the very keystone of our modern economics.

John Bates Clark, our foremost theorist, once said to me that there is no principle in economics so difficult that it cannot be understood by a ten year old child if it is properly taught. But how often it is not properly taught! Teaching economics is like kneading bread. The teacher must turn over these principles again and again until they are kneaded into the boy so thoroughly that they have become a part of his mind stuff. When he has once had kneaded into him the concepts of the margin, marginal utility, the marginal producer, the marginal land, the marginal unit of capital, the marginal laborer, he can move fearlessly forward to the conquest of the most involved propositions of actual business. In business, in government, in all the multitudinous activities of life, we come to grief because our concepts are not clearly defined. Because of deficient analysis, we accept wrong premises and because of muddy reasoning, we allow factors to enter into the conclusion which were not in the premises. If economics be taught with the same degree of analysis of conditions, with the same accuracy in checking the reasoning as in geometry, the teacher will find himself surprised by the ability of the students to solve a most difficult problem in the incidence of taxation or one in the operations of foreign exchange. As a means of testing whether the student has gained a clear concept, problem questions should be assigned at the close of every discussion, to be answered at home in writing by the pupil, and written tests should be given at least once a week. Purely oral work makes possible much confusion of thought on the part of the pupil without the knowledge of the teacher. The slovenly thinking which may thus become a habit will produce a wrongly-trained citizen more dangerous than one who has had no training in economics at all. The problems which this training fits the student to solve are precisely the kind of problems that every businessman is called upon to face every day of his life. For example, the man who keeps the country store at Marlborough or Milton on the Hudson will soon need to decide how large a stock of goods he will order for the fall trade. This may seem to be a simple problem and yet he needs all his experience to enable him to analyze the problem of demand for his goods. This involves the effect of the mild weather on the vines and peach trees, the possibility of his customers again securing boys and girls from New York to pick the crops, the matter of freight rates on fruit, the buying capacity of the people of New York which, in turn, involves a knowledge of conditions in many industries. After he has considered all of these elements, he has come to a conclusion as to demand for his goods, but he has not yet touched the question whether the cost of his goods is to be higher or lower before September next. Do we wonder that failures are so common when we realize that few of our people, even our college graduates, are trained in accurate observation, keen analysis, rigid reasoning? The development of these powers in his pupils should be the fundamental aim of every teacher of economics this coming year. If this aim should be realized for every high school pupil in this country, we should not need to fear for the future of our city, our state, our nation. Inefficient government is due chiefly to the failure of our people to realize the connection between incompetent or dishonest officials and the well-being of the individual. Dangerous movements like the I. W. W. and Bolshevism are due to slovenly thinking, poor analysis of conditions by both the members of these organizations and those responsible for the conditions which breed these dangerous movements. Marxian socialism is based on premises which will not bear analysis, namely, the Marxian theory of value, which is not evolved from experience, the resulting expropriation theory, which depends upon this false theory of value, and the inevitable class struggle and the ultimate triumph of the proletariat, an unwarranted conclusion from invalid premises.

I have indicated that the primary aim of the Board of Superintendents in making economics a required subject was vocational in character. Through the medium of this subject it seeks to train good citizens. I trust I have made clear that this vocational aim can be best realized by making all aims subsidiary to the disciplinary aim; that we should, therefore, make the recitation periods in this subject exercises in exact analysis and rigid reasoning. If our schools can produce a generation of students with trained intelligence, students who can see straight, and think straight on economic data, we need not fear the attacks on our cherished institutions of the newcomers from lands where they have not been permitted to be trained and where the nursing of grievances has so stimulated the emotional nature as to render the dispassionate analysis of industrial movements and civil activities almost an impossibility.

Effective teaching in economics brings to the teacher an immediate reward, for the efficient teacher of economics must keep in touch not only with the changes in economic theory but with the movements in industry and finance, with problems of labor, problems of administration, local and national, with the vast field of legislation, and these not only in America, but in Asia, Australia, South America and Europe as well. Every newspaper, every periodical yields him material for his classroom. Almost every man he meets may be made to contribute to his work. The boundaries of his subject are ever widening. There is, moreover, no need of the stultifying repetition of subject matter, for there is no end to the material for the elucidation of economic principles. Nor is the teacher of economics in the high school compelled to create in his pupils an interest in the subject. for every New York boy is an economist in embryo. Questions of cost, price, wages, profits, labor, capital, are already the subjects of daily discussion.

The complaint so often heard that the teacher is academic, that he is removed from the world of practical affairs, and has little touch with the man in the street, cannot be made of the teachers of economics, who is vitally interested in his teaching. The more he studies his subject, the more he becomes a citizen of the world with an ever-deepening interest in all kinds of men and in all that pertains to man, the broader becomes his sympathies, the wider his vision.

The New York high schools offer great opportunities for men and women who, whether trained students of economics or not, are students of life. Here they may serve the state as effectively as the soldier in the field. Here they may train the young for lasting usefulness to themselves and to the city, while at the same time they are broadening their interests, expanding their vision and growing in intellectual vigor under, the compulsion of keeping pace with the demands of a subject which reflects as a mirror the changing needs and desires of men. The teaching of economics in high schools demands our strongest teachers. There is no place for the man who has finished his growth, who cannot change to meet changed conditions; nor is there place for the man who loves change just because it is change. The teacher of economics in the New York City high schools should be a co-worker with all those who seek to preserve and to develop those institutions, economic and civic, which have stood the test and gained the approval of the wise among us through the years. He should be a man who is fundamentally an optimist, constructive in his outlook on life, not destructive. If his motto be, “All’s wrong with the world,” there should be no place for him as a teacher of economics in a high school in New York City or in any other American city.

Economics is closely allied with the study of civics or government. In every school where there is not a full program in economics, the teacher of economics should also teach the civics. With the great increase in our civics work, there should be established in each school a department of economics and civics. For each of these subjects a license is being issued and separate examinations are being held. For the new department first assistants may be appointed and will be appointed.

May we not, therefore, confidently expect that some of our strongest teachers shall prepare themselves for this most interesting and vital work which will be given in every high school beginning September next?

Source: Bulletin of the High Points in the Work of the High Schools of New York City, Vol. I, No 3 (March 1919), pp. 3-7.

Image Source: Photo of Dr. John L. Tildsley in “Modern Girls Not All Wild; Here is Proof” [Construction of a new building to house Girls’ Commercial High on Classon Avenue, near Union Street] Sunday News,Brooklyn Section, p. B-15.

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Columbia Economics Programs Economists Germany

Columbia. Munroe Smith’s history of the faculty of political science as told by A.S. Johnson, 1952.

 

The following paragraphs come from Alvin S. Johnson’s 1952 autobiography that is filled with many such nuggets of fact and context that are relevant for the work of Economics in the Rear-View Mirror. The institutional histories from which departments of economics have emerged provide some of the initial conditions for the evolution of organized economics education. Like Johns Hopkins and unlike Harvard and Chicago, Columbia University economics was to a large part made in Germany.

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[p. 164] …Munroe Smith gave me detail after detail of the history of the faculty. Dean Burgess, as a cavalry officer in the Civil War, had had much time for reflection on the stupendous folly of a war in which citizens laid waste other citizens’ country and slaughtered each other without ill will. All the issues, Burgess believed, could have been compromised if the lawyers who controlled Congress and the state legislatures had been trained in history, political science, and public law. As soon as he was discharged from the army, after Appomattox, he set out for Germany to study the political sciences. He spent several years at different universities, forming friendships with the most famous professors and imbuing himself thoroughly with the spirit of German scholarship. On his return he accepted an appointment in history at Columbia College, then a pleasant young gentlemen’s finishing school. He was permitted to offer courses in public law. Although these could not be counted for credit toward the A.B., many of the ablest students were drawn to his lectures.

From among his students he picked out four and enlisted them in a project for transforming Columbia College into a university. The four were Nicholas Murray Butler, E. R. A. Seligman, Frank Goodnow, and Munroe Smith. They were to proceed to Germany to get their doctorates. Butler was to study philosophy and education; Seligman, economics; Goodnow, administration; Munroe Smith, Roman law. The young men executed Burgess’s command like good soldiers and in due time returned to offer non-credit courses at Columbia College.

Burgess’s next move was to turn his group into a graduate faculty. Such a faculty had been set up at Johns Hopkins, the first in America, and commanded nationwide interest among educators. Burgess argued with President Frederick Barnard on the need of a graduate school in the greatest city of the country. After some years the Board of Trustees authorized in 1886 the setting up of a graduate School of Political Science, manned by Burgess and his disciples, now advanced to professorial rank.

Butler early stepped aside to develop courses he later organized into Teachers College. Burgess and his three younger colleagues watched for opportunities to enlist additional abilities: William A. Dunning in political theory, Herbert L. Osgood in American history, John Bassett Moore in international law, John Bates Clark in [p. 165] economics Franklin Giddings in sociology. This process of expansion was going on energetically while I was on the faculty; Henry R. Seager and Henry L. Moore were enlisted for the economics department, Edward T. Devine and Samuel McCune Lindsay for sociology, James Harvey Robinson and later Charles A. Beard for history. In the meantime other graduate courses were springing up throughout the institution. The towering structure of Columbia University had risen up out of Burgess’s small bottle.

Still in my time the controlling nucleus of our faculty consisted of Burgess, Seligman, Goodnow, and Munroe Smith. They all knew American colonial history well and had followed the step-by-step evolution of Massachusetts Bay from a settlement governed by a chartered company in England to a free self-governing community, germ of American liberty. Step by step Burgess and his lieutenants built up the liberties of the School of Political Science. They got the Board of Trustees to accept the principle of the absolute freedom of the scholar to pursue the truth as he sees it, whatever the consequences; the principle of absolute equality of the faculty members; the principle that no scholar might be added to the faculty without the unanimous consent of the faculty. The principle was established that the president and trustees could intervene in the affairs of the faculty only through the power of the purse.

President Seth Low, regarding himself justly as a recognized authority on administration, sought admission to the meetings of the faculty. He was turned down. A university president could not conduct himself as an equal among equals. When Nicholas Murray Butler became president he thought it would be a good idea for him to sit in with the faculty. After all, he had been one of Burgess’s first panel. We voted the proposition down, unanimously.

Since my time the faculty has grown in numbers and its relations with other departments of the university have become closer. But the spirit of liberty and equality, established by Burgess and his lieutenants, still lives on at Columbia and has overflowed into the universities of America. From time to time a board of trustees steps outside its moral sphere and undertakes to purge and discipline the faculty. But established liberties stricken down are bound to rise again.

Source: Alvin Saunders Johnson. A Pioneer’s Progress. New York: Viking Press, 1952.

Image Source: The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Picture Collection, The New York Public Library. “Columbia College, Madison Ave., New York, N.Y” [Architect: C. C. Haight] The New York Public Library Digital Collections. 1886-09-04. Image of the Mid-town Campus from The American Architect and Building News, September 4, 1886. (cf. https://www.wikicu.com/Midtown_campus)

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Columbia Sociology

Columbia. Alvin S. Johnson’s impressions of Franklin H. Giddings, 1898-1902

 

Alvin Saunders Johnson’s 1952 autobiography, A Pioneer’s Progress, provides us a treasure chest of granular detail regarding his academic and life experiences. This co-founder of the New School for Social Research in New York City went on to live another 19 years after publishing his autobiography to reach the age of 96.

Economics in the Rear-View Mirror will clip personal and departmental remembrances of Johnson’s own economics training and teaching days. This post shares a transcription of his impression of the sociologist Franklin H. Giddings and his experience with him as one of his doctoral examiners. Economist readers are gently reminded that at the turn of the twentieth century sociology was still regarded by many economists (and sociologists) as a subfield of economics. 

Trigger warning: Giddings appears to have been both an academic bully and one who spoke fluent anti-semitic speech.

Previously posted Johnson observation: John W. Burgess.

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Other posts with
Franklin H. Giddings’ content

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Alvin Johnson reminisces
about Giddings

[p. 122] …Columbia men swore by Franklin H. Giddings as the greatest living sociologist. He was a large, genial man, with bluntly pointed red beard and a markedly dolichocephalic skull, of which he was very proud. In his view, all distinction in the world, all energy, all genius, were carried by the dolichocephalic blonds Aryans, we called them then. Other peoples might acquire merit by imitation.

“Look at the Jews,” he would say in the privacy of the Sunday evening meetings at his house. “They are middlemen in economic life and middlemen in the world of ideas.”

Down the corridor from Giddings’ office was the office of Franz [p. 123] Boas, anthropologist. Logically he belonged in the School of Political Science, and in scholarly attainment, originality, and intellectual leadership he ranked with the best of them. Years later, when I was a member of the faculty, I urged the annexation of Franz Boas, then recognized throughout the world as the foremost anthropologist. Giddings vetoed the idea with the vigor of a Gromyko. Anthropology was either a natural science, having no proper place in a School of Political Science, or an amateurish sociology we could not afford to recognize…

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[p. 137] … the doctoral examinations approached in the spring of 1901 …. We were to be examined on the entire literature of our major economics — and on the courses in the minors for which we had registered, in my case sociology under Giddings. It goes without saying that we hadn’t a chance to load ourselves up for the particular questions we might be asked in a three-hour oral examination. Still we boned manfully.

Our Columbia professors were as a rule very humane. If a student seemed to be floored by a question the examiner made haste to substitute another and easier question. I felt I was getting on very satisfactorily under the questioning of Seligman and Clark. But then Giddings pounced on me with blood in his eye. He was having a feud with Seligman at the time and meant to take it out of my hide. He did, and I resented it, for he was my friend.

After the examination I waited in the corridor to hear the results of the examiners’ deliberations. Soon Seligman came out and announced that I had passed with flying colors. Giddings followed, jovially slapped me on the back, and said, “Well, Johnson, I made you sweat. I knew it wouldn’t hurt you. Seligman would have bulled you through if you had flunked every question. But say, you knew more of the answers than I’d have known if I hadn’t loaded up for you.

So it was just good, clean fun, like pushing an absent-minded companion off an embankment…

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[pp. 163-164] … There was, to be sure, a certain amount of personal friction, particularly between Giddings and Seligman. It was aired in the offices, not at faculty meetings. Giddings would encounter Seligman in the Political Science Quarterly office, where I was working, and would roar out his discontent with some plan of Seligman’s. Seligman always remained imperturbably courteous.Once I asked Giddings what he really had against Seligman.

“What I’ve got against him? I can’t get under the skin of that infernal Christian. You know, Johnson, I sometimes think only Jews can really behave like Christians. The Jews created that religion, and it suits their temperament. It doesn’t suit the temperament of us Aryans.”…

Source: Alvin Saunders Johnson. A Pioneer’s Progress. New York: Viking Press, 1952.

Image Source: University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol. II, pp. 453-5. Portrait colorised by Economics in the Rear-View Mirror.

 

 

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AEA Amherst Columbia Economists Germany Johns Hopkins Smith

Columbia. Short biographical note on John Bates Clark at age 52

 

Today’s post adds to the virtual clipping file of relatively obscure biographical items for John Bates Clark. The turn of the century volumes edited by Joshua L. Chamberlain, Universities and Their Sons, serve as a who’s who with an academic twist and the source of this early-through-mid-career biography for the great John Bates Clark.

Pro-tip: At the bottom of this post you can click on the keyword “ClarkJB” to summon all the John Bates Clark related posts here at Economics in the Rear-view Mirror.

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Other Biographical postings for John Bates Clark

From the Smith College yearbook (1894)

Columbia University Memorial Minute (1938)

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CLARK, John Bates, 1847-

Born in Providence, R. I., 1857; studied at Brown for two years; Amherst for two years, graduating in 1872; studied abroad at Heidelberg University for one and a half years and at Zurich University one-half year; Professor of Political Economy and History, Carleton (Minnesota) College, 1877-81; Professor of History and Political Science at Smith College, 1882-93; Professor of Political Economy at Amherst, 1892-95; Lecturer on Political Economy, Johns Hopkins. 1892-94; Professor of Political Economy at Columbia since 1895.

JOHN BATES CLARK, Ph.D., LL.D., Professor of Political Economy at Columbia, was born in Providence, Rhode Island, January 26, 1847. His parents were John Hezekiah Clark, a well-known manufacturer of Providence, and Charlotte Stoddard Huntington, a granddaughter of General Jedediah Huntington of New London, Connecticut. He received his early education in the public schools of his native place. In 1865 he entered Brown, spending two years in study there, and later entered Amherst. During an interval of absence from this College he engaged in the manufacture of ploughs, and was one of the founders of the Monitor Plow Company, of Minneapolis, Minnesota. He retired from active business in 1871, and returned to Amherst, graduating in 1872. He then went abroad and studied for a year and a half at the University of Heidelberg, for a term at the University of Zurich, and for a short period in Paris. He returned to America in 1875 and, two years later, became Professor of Political Economy at Carleton College. He retained this position for four years, and then came to Massachusetts to take the Professorship of History and Political Science at Smith College. He was with Smith in this capacity for eleven years, until, in 1893, he was made Professor of Political Economy at Amherst College. From 1892 to 1894 he was also Lecturer on Political Economy at Johns Hopkins. He left Amherst in 1895 to take a Chair of Political Economy at Columbia, and has since been in charge of the department of Economic Theory of the University. In 1893 and also in 1894 he was elected President of the American Economic Association. Professor Clark has written a number of monographs and articles on economic subjects, and a book — The Philosophy of Wealth — which presents new theories. He also published in collaboration with Professor F. H. Giddings, The Modern Distributive Process, and is now about to publish a second work on Distribution [The Distribution of Wealth; A Theory of Wages, Interest and Profits (1899)]. He is a member of the Century and Barnard Clubs. Professor Clark married, September 28, 1875, Myra Almeda Smith of Minneapolis. They have four children, three girls and a boy.

Source: Universities and their sons; history, influence and characteristics of American universities, with biographical sketches and portraits of alumni and recipients of honorary degrees, Joshua L. Chamberlain, ed., Vol. II (Boston: R. Herndon Company, 1899), p. 423.

Image Source: Same.

 

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Columbia

Columbia. Economics Seminar participants. J.B. Clark, 1901-1902

 

The original version of this post only provided a transcription of hand-written notes by John Bates Clark that appears to be an incomplete draft of part of an “teaching activities report” for the annual Dean’s report. The two semester course Economics 14,  Seminar in Political Economy and Finance, alternated every other week between Clark and E.R.A. Seligman. The next post will provide information about Seligman’s seminar schedule.

This post is another exercise in establishing the identities of students who attended advanced economics courses. I feel confident that I have identified eight of the seventeen paper-presenters. That information follows the schedule.

The participants of the Harvard Economics Seminary for 1897-98 have been tracked down for an earlier post, as have the Radcliffe women who signed a letter requesting permission to attend the Harvard Economics Seminary in 1926.

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Seminar in Political Economy and Finance
Professor Clark. 2 hours fortnightly. 16 members.

The following papers were presented:

Municipal Activities. Ray McClintock

Municipal Activities in England. Frank F. Nalder

Municipal Activities in the United States. Ray W. Thompson

Socialism. James A. McQueen

Socialism in the Southwest. Wallace E. Miller

The Theory of Monopolies. Henry R. Mussey

Governmental Monopolies. Yoshimasa Ishikawa

Laws Concerning Monopolies. George B. Keeler

Theories of Protection. Arthur J. Boynton

Modern Aspects of the Tariff. Harry B. Bennett

Theories of Wages. Isaac R. Henderson

The Bargain Theory of Wages. John S. Hershey

Von Böhm-Bawerk’s Theory of Interest. Robert B. Olsen

Over-Production. Samuel Peskin

European Trusts. Everett B. Stackpole

The Value of Money. Joseph C. Freehoff

Child Labor in the United States. Anna M. Cordley

Source: Columbia University. Annual Reports of the President and Treasurer to the Trustees for the Year Ending June 30, 1902, p. 155.

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Handwritten note of John Bates Clark
[no date]

1—The seminar in Political Economy and Finance has held 14 meetings under my direction and the same number under the direction of Professor Seligman. The following papers have been presented:—

by Mr. F. F. Nalder, on Municipal activities in England;

by Mr. J. C. Frihoff [sic], on The Value of Money;

by Mr. Ray McClintock on Municipal Activities.

by Mr. H. Thompson on Municipal Activities in the United States;

by Miss. A. M. Cordley on Anarchism Child [Labor] in U.S.

by Mr. A. J. Boynton on Theories of Protection:—

by Mr. J. S. Hershey on The Bargain Theory of Wages:—

by Mr. I.R. Henderson on Theories of Wages:—

by Mr. H. B. Bennett on Modern Aspects of the Tariff:—

by Mr. Y. Ishikawa on Governmental Monopolies:—

by Mr. H.A. Keeler on Present Laws Concerning Monopolies:—

Source: Columbia University. Rare Book and Manuscript Library. John Bates Clark Papers (MS #1419). Box 9, Folder 1. Series II.4.

_____________________________

Frank Fielding Nalder

Frank Fielding Nalder was born on November 5, 1876 in Penhurst, Providence of Victoria, Australia, and brought to the United States in 1884. He received his B. A. from the State College of Washington in 1901, his M.A. from Columbia in 1902, and his Ph. D. from the University of California in 1916. He was Registrar and instructor in history at the State College of Washington from 1903-1908, superintendent of schools in Tekoa, Washington from 1908-1909, with the department of state public instruction in Washington from 1909-1911, director of education for the Washington State Reformatory from 1912-1913, with the extension division of the University of California 1914-1919, and professor of social science and director of the college extension at the State College of Washington from 1919. He died on January 17, 1937.

Source:  Manuscripts, Archives, and Special Collections, Washington State Libraries. Guide to the Frank Fielding Nalder Photographs 1913-1914

Note: According to the Columbia University alumni register, Nadler was awarded an A.M. in 1904.

Source: Columbia University alumni register, 1754-1931, compiled by the Committee on General Catalogue. New York: Columbia University Press, 1932, p. 635.

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Joseph C. Freehoff

Cornell College.-Mr. Joseph C. Freehoff has been appointed Professor of Economics in Cornell College, Mt. Vernon, Iowa. He was born on December 25, 1869, near La Crosse, Wis., attended the public schools of this region and the State Normal School at River Falls. He graduated from the University of Wisconsin with the degree of B.S. in 1897 [sic], where he also pursued graduate work in Sociology and Political Economy. In 1898 he became Acting Professor of Political Economy at Cornell College. In 1899 he declined an election as Fellow at the University of Chicago, to accept a similar election at the University of Wisconsin, but resigned this fellowship upon receiving the permanent appointment at Cornell College.

Source: Personal Notes. Annals of the American Academy of Political and Social Science, Vol. 14, Issue 3, 1899. p. 349.

(INSP.) Ph.D., 04; B.S., 91, Univ. Wis.
b. La Crosse, Wis.; River Falls (Wis.) Normal Schedule., 89; Univ. Wis., 89-91; N.Y.U. Grad. Sch., 02-4; fellow of sociol. and pol. econ., Univ. Chicago, 96-98; actg. prof. pol. econ., Cornell Coll., Ia., 98-01; sanitary inspector, N.Y.C.; publ.: Value of Money.

Source: New York University. General Alumni Catalogue, v. 2 (1905), p. 176.

Joseph C. Freehoff, formerly of New York University, was recently appointed statistician for the Public Service Commission of New York, first district.

SourceThe Economic Bulletin, Vol. 1, No. 4 (Dec. 1908), p. 285.

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Holland McTyeire Thompson

Thompson, Holland A.M. 1900, PhD 1906, College of City of NY, NYC, coll prof.

Source: Columbia University alumni register, 1754-1931, compiled by the Committee on General Catalogue. New York: Columbia University Press, 1932, p. 876.

See: Biographical entry “Holland Thompson, 1873-1940” in Dictionary of North Carolina Biography.

Published dissertation:  From the Cotton Field to the Cotton Mill: A Study of the Industrial Transition in North Carolina. New York: Macmillan, 1906.

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Annie Minto Cordley

Born September 26, 1863 in Lawrence, Massachusetts.

Cordley, Annie Minto. Glen Ridge, N.J.
Lawrence; 82 [non-graduate of Mount Holyoke]; B.S. Wellesely Coll. 87, M.A. Columbia Univ. 03; teacher New York N.Y. 87-05, Briarcliff Manor N.Y. 05-10.

Source: General Catalogue of Officers and Students of Mount Holyoke College 1837-1911., p. 167.

Annie Minto Cordley. AM 1903, d. Jan 1, 1915.

Source: Columbia University alumni register, 1754-1931, compiled by the Committee on General Catalogue. New York: Columbia University Press, 1932, p. 180.

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Arthur Jerome Boynton

Arthur Jerome Boynton–Emerald Grove, Wis.
Ph.B., Beloit College, 1896;
A.B., Harvard University, 1901
Major subject: Political economy and finance
Minor subjects: Sociology and Statistics; International Law
Essay: The philosophy of the single tax.

Source: Columbia University. Rare Book and Manuscript Library. Minutes of the Faculty of Political Science, 1902, p. 93.

Arthur Jerome Boynton, A.B., 1901, (Harvard); A.M., 1902, (Columbia). Associate Professor of Economics, 1910; 1903 [first appointment at the University of Kansas]

Source:  Annual Catalogue of the University of Kansas, 1912-1913p. 13.

Professor Arthur Jerome Boynton. Lawrence Kan., March 18 (AP). Arthur Jerome Boynton, Professor of Economics at the University of Kansas, died here today.

SourceThe New York Times, March 19, 1928 (p. 16).

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J. S. Hershey

J. S. Hershey, School of Law [graduate], 1904.

Source: Columbia University alumni register, 1754-1931, compiled by the Committee on General Catalogue. New York: Columbia University Press, 1932, p. 1102.

*  *  *  *  *  *  *  *  *

Yoshimasa Ishikawa

Ishikawa, Yoshimasa. A.M. 1903, 584 Omori Iriarai-Machi Tokyo Japan, coll prof.

Source: Columbia University alumni register, 1754-1931, compiled by the Committee on General Catalogue. New York: Columbia University Press, 1932, p. 434.

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Howard Allan Keeler

Columbia College class of 1903.  Intercollegiate chess player for Columbia

Source: Columbia Spectator (January 23, 1903).

Worked as an advertising manager, living in New York City according to the 1920 U.S. Census.
… at an advertising agency, living in Great Neck Estates in New York according to the 1930 U.S. Census.
….as an agent for casulty insurance in Great Neck Estates in New York according to the 1940 U.S. Census

Born January 23, 1883 in Manhattan, died November 1963.

 

Image Source: John Bates Clark portrait from the webpage “Famous Carleton Economists“.

Categories
AEA

American Economic Association. Economic Studies, 1896-1899

 

A few posts ago I put together a list of links to the contents of eleven volumes of monographs published by the American Economic Association from 1886 through 1896.

Those eleven published volumes were briefly followed (1896-1899) by two series of AEA publications, viz.: the bi-monthly Economic Studies, and an extremely short “new series” of larger monographs that would be printed at irregular intervals. In 1900 the American Economic Association reverted to the policy of issuing its monographs, called the “third series” of the publications, at quarterly intervals.

This post provides links to the 1896-1899 intermezzo of AEA publications.

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American Economic Association
ECONOMIC STUDIES.

Price of the Economic Studies $2.50 per volume in paper, $3.00 in cloth. The set of four volumes, in cloth, $10.00.

VOLUME I, 1896
[prices in paper]

No. 1 (Apr., Supplement) Eighth Annual Meeting: Hand-Book and Report. Pp. 178. Price 50 cents.

No. 1 (Apr.). The Theory of Economic Progress, by John B. Clark, Ph.D.; The Relation of Changes in the Volume of the Currency to Prosperity, by Francis A. Walker, LL.D. Pp. 46. Price 50 cents.

No. 2 (Jun.). The Adjustment of Wages to Efficiency. Three papers: Gain Sharing, by Henry R. Towne; The Premium Plan of Paying for Labor, by F.A. Halsey; A Piece-Rate System, by F.W. Taylor. Pp. 83 Price 50 cents.

No. 3 (Aug.). The Populist Movement. By Frank L. McVey, Ph.D. Pp. 81 Price 50 cents.

No. 4 (Oct.). The Present Monetary Situation. An address by Dr. W. Lexis, University of Göttingen translated by Professor John Cummings. Pp. 72. Price 75 cents.

Nos. 5-6 (Dec.). The Street Railway Problem in Cleveland. By W.R. Hopkins. Pp. 94. Price 50 cents.

 

VOLUME II, 1897

No. 1 (Feb., Supplement). Ninth Annual Meeting: Hand-Book and Report. Pp. 162. Price 50 cents.

No. 1 (Feb.). Economics and Jurisprudence. By Henry C. Adams, Ph.D. Pp. 48. Price 50 cents.

No. 2 (Apr.). The Saloon Question in Chicago. By John E. George, Ph.B. Pp. 62. Price 50 cents.

No. 3 (Jun.). The General Property Tax in California. By Carl C. Plehn, Ph.D. Pp. 88. Price 50 cents.

No. 4 (Aug.). Area and Population of U. S. at Eleventh Census. By Walter F. Willcox, Ph.D. Pp. 60. Price 50 cents.

No. 5 (Oct.). A Discourse Concerning the Currencies of the British Plantations in America, etc. By William Douglass. Edited by Charles J. Bullock, Ph.D. Pp. 228. Price 50 cents.

No. 6 (Dec.). Density and Distribution of Population in U.S. at Eleventh Census. By Walter F. Wilcox, Ph.D. Pp. 79.Price 50 cents.

 

VOLUME III, 1898

No. 1 (Feb., Supplement). Tenth Annual Meeting: Hand-Book and Report. Pp. 136. Price 50 cents.

No. 1 (Feb.). Government by Injunction. By William H. Dunbar, A.M., LL.B. Pp. 44. Price 50 cents.

No. 2 (Apr.). Economic Aspects of Railroad Receiverships. By Henry H. Swain, Ph.D. Pp. 118. Price 50 cents.

No. 3 (Jun.). The Ohio Tax Inquisitor Law. By T. N. Carver, Ph.D. Pp. 50. Price 50 cents.

No. 4 (Aug.). The American Federation of Labor. By Morton A. Aldrich, Ph.D. Pp. 54. Price 50 cents.

No. 5 (Oct.). Housing of the Working People in Yonkers. By Ernest Ludlow Bogart, Ph.D. Pp. 82. Price 50 cents.

No. 6 (Dec.). The State Purchase of Railways in Switzerland. By Horace Micheli; translated by John Cummings, Ph.D. Pp. 72. Price 50 cents.

 

VOLUME IV, 1899

No. 1 (Feb.). I. Economics and Politics. By Arthur T. Hadley, A.M.; II. Report on Currency Reform. By F. M. Taylor, F.W. Taussig, J.W. Jenks, Sidney Sherwood, David Kinley; III. Report on the Twelfth Census. By Richmond Mayo-Smith, Walter F. Willcox, Carroll D. Wright, Roland P. Falkner, Davis R. Dewey. Pp.70. Price 50 cents.

No. 2 (Apr.). Eleventh Annual Meeting: Hand-Book and Report. Pp. 126. Price 50 cents.

No. 2 (Apr.). Personal Competition: Its Place in the Social Order and Effect upon Individuals; with some Consideration upon Success. By Charles H. Cooley, Ph.D. Pp. 104. Price 50 cents.

No. 3 (Jun.). Economics as a School Study. By Frederick R. Clow, A.M. Pp. 72. Price 50 cents.

Nos. 4-5 (Aug.-Oct.). The English Income Tax, with Special Reference to Administration and Method of Assessment. By Joseph A. Hill, Ph.D. Pp. 162. Price $1.00.

No. 6. (Dec.) The Effects of Recent Changes in Monetary Standards upon the Distribution of Wealth. By Francis Shanor Kinder, A.M. Pp.91. Price 50 cents.

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NEW SERIES

No. 1 (Dec., 1897). The Cotton Industry. By M. B. Hammond. Pp. 382. (In cloth $2.00.) Price $1.50.

No. 2 (Mar., 1899). Scope and Method of the Twelfth Census. Critical discussion by over twenty statistical experts. Pp. 625. (In cloth $2.50.) Price $2.00.