Tag: Hollander

Johns Hopkins. Political Economy Seminar. Presenters and Topics, 1923-24

Post author By Irwin Collier
Post date 2018-04-09

The graduate economic seminary at Johns Hopkins University kept good records of the weekly sessions so that we know the names of all the presenters and their topics. I have added the academic backgrounds for graduate students and faculty alike from the published Johns Hopkins Circular.

The economic seminary schedule for the following years have also been posted:

1903-1904
1904-1905

1922-1923
1923-1924
1924-1925
1925-1926
1926-1927

___________________

POLITICAL ECONOMY
GRADUATE COURSES

The graduate instruction in Political Economy is designed primarily to meet the needs of advanced students preparing for a professional career in economic science. The courses afford systematic instruction in general economic principles, intimate acquaintance with special fields of economic activity, and, most important of all, knowledge of and ability to employ sound methods of economic research. The work centres in the Economic Seminary, the membership of which is limited to the most advanced students, and the primary design of which is to develop scientific research in economic study and investigation…

…The Economic Seminary

Two hours weekly through the year.Professors Hollander and Barnett.
The work of the year will be the study of representative forms of industrial development in the United States, and the analysis of significant activities of American labor organizations.

Source: The Johns Hopkins University Circular, Vol. 44 (March 1925), p. 67.

_________________________

MEMBERS OF THE ECONOMIC SEMINARY
1923-1924

Graduate Students

Baugus, Miss Okie

A.B Berea College 1922. 2^ndyear Political Economy.

Chen, Chao Ming

Fuhkien Provincial College. A.B., Johns Hopkins University 1922. A.M. 1924. 2^ndyear Political Science.

Fedder, Abraham

A.B., Johns Hopkins University, 1921. 3^rdyear Political Economy.

Fossum, Paul Robert

A.B. Park Region Luther College 1915; A.M. Johns Hopkins University 1923. 4^thyear Political Economy.

Gillies, Robert Carlyle

A.B., Princeton University, 1920. 3^rdyear Political Economy

Golden, Miss Helen

A.B., Goucher College 1921. 2^ndyear Political Economy.

Hefner, Helen

A.B. Goucher College 1923. 1^styear Political Economy.

Levin, Benjamin Szold

A.B. Johns Hopkins University 1922. 2^ndyear Political Economy.

Mitchell, George Sinclair

A.B. University of Richmond 1923. 1^styear Political Economy.

Morrissy, Miss Elizabeth

A.B. Beloit College 1908; A.M. Johns Hopkins University 1922. 3^rdyear Political Economy (part-time).

Seibert, Mrs. Louise Cleret

A.B. Goucher College, 1920. 2^ndyear Political Economy (part-time).

Shaw, Albert, Jr.

A.B. Princeton University, 1919. 1^styear Political Economy.

Shocket, Louis

A.B. University of Richmond 1923. 1^styear Political Economy.

Siegel, Miss Jeanette R.

A.B. Goucher College 1922. 2^ndyear Political Economy.

Faculty

George Ernest Barnett, Professor of Statistics [at present rank, 1911-; first appointment, 1901]

A.B., Randolph-Macon College, 1891; Fellow, Johns Hopkins University, 1899-1900, and Ph.D., 1901.

George Heberton Evans, Jr., Instructor in Political Economy [first appointment, 1924]

A.B., Johns Hopkins University, 1920.

Jacob H. Hollander, Professor of Political Economy [at present rank, 1904-; first appointment, 1894]

A.B., Johns Hopkins University, 1891, Fellow, 1893-94, and Ph.D., 1894; Treasurer of the Island of Porto Rico, 1900-01; Special Commissioner Plenipotentiary to Santo Domingo, 1905-06; Financial Adviser of the Dominican Republic, 1908-10; Member of the Academic Council.

Broadus Mitchell, Associate in Political Economy [at present rank, 1922-; first appointment, 1919]

A.B., University of South Carolina, 1913; Fellow, Johns Hopkins University, 1916-17, and Ph.D., 1918.

William Oswald Weyforth, AssociateProfessor in Political Economy [at present rank, 1922-; first appointment, 1919]

A.B., Johns Hopkins University, 1912, and Ph.D., 1915; Instructor, Western Reserve University, 1915-17.

Seminar Presentations
1923-24

October 10, 1923

The opening meeting of the economic seminary of the session was held in room 315 on Wednesday at 2 o’clock. Professor [George E.] Barnett read a paper on “Collective Bargaining in the Anthracite Industry”.

October 17, 1923

Professor [Jacob H.] Hollander read a paper on “Combination and Profits in the Anthracite Coal Industry”.

October 24, 1923.

Associate Professor [William O.] Weyforth read a paper on “Earnings in the Anthracite Coal Industry as Disclosed by the Annual Corporate Reports.”

October 31, 1923

Professor [George E.] Barnett read a paper on the “Earnings of Anthracite Railways”.

November 7, 1923

Mr. [Abraham] Fedder read a paper on “Occupational Changes in the United States”.

November 14, 1923

Dr. [Broadus] Mitchell read a paper on “Cotton Mills in Southern Civilization”.

November 21, 1923

Mr. [Paul Robert] Fossum read a paper on the “Cooperative Elevator Movement in North Dakota”.

November 28, 1923

Professor [George E.] Barnett read a paper on the “Probable Yield of the Income Tax in Maryland”.

December 5, 1923

Mr. [Albert] Shaw [Jr.] read a paper on the “Cooperative Marketing of Milk”.

December 12, 1923

Mr. [Chao Ming] Chen read a paper on “The Land Tax in China”.

December 19, 1923

Mr. [Benjamin Szold] Levin read a paper on the “Farm Loan Banks”.

January 2, 1924

Mr. [George Heberton] Evans read a paper on “Apartment House Rents in Baltimore”.

January 9, 1924

Mr. [Abraham] Fedder read a paper on “Direct Services in the National Income”.

January 16, 1924

Mr. [Paul Robert] Fossum read a paper on “The Agrarian Movement in North Dakota”.

January 23, 1924

Mrs. [Louise Cleret] Seibert read a paper on the “Eight Hour Law for Letter Carriers”.

January 30, 1924

Mr. [Louis] Shockett read a paper on “Immigrants in the Needle Trades”.

February 6, 1924

Mr. [George Sinclair] Mitchell read a paper on the “Population in the Southern Appalachian Mountains”.

February 13, 1924

Mr. [Robert Carlyle] Gillies read a paper on “Readjustment of Relative Freight Rates”.

February 20, 1924

Mr. [Abraham] Fedder read a paper on “Occupational Changes in the United States”.

February 27, 1924

Mr. [Robert Carlyle] Gillies continued his report on “Readjustment of Relative Freight Rates”.

March 5, 1924

Dr. [Broadus] Mitchell read a paper on “Frederick Law Olmsted, A Critic of the Old South”.

March 12, 1924

Mr. [Chao Ming] Chen read a paper on “The Chinese Land Tax”.

March 19, 1924

Mr. [Abraham] Fedder read a paper on “Trade and Transportation in the National Income”.

March 26, 1924

Mrs. [Louise Cleret] Seibert read a paper on “Trade Unionism in France”.

April 2, 1924

Mr. [George Heberton] Evans read a paper on “The Course of Apartment Rentals in Baltimore”.

April 9, 1924

Mr. [Paul Robert] Fossum read a paper on “The Early Agrarian Movement”.

April 16, 1924

Mr. [Albert] Shaw [Jr.] read a paper on “Organizations Among Milk Producers”.

April 23, 1924

Easter Recess—did not hold seminar.

April 30, 1924

Miss [Helen] Golden read a paper on the “Education of Crippled Children in Baltimore”.

May 7, 1924

Miss [Jeanette R.] Siegel read a paper on the “The Social Implications Involved in Violations in the Marriage Laws Among Immigrants”.

May 14, 1924

Dr. [William O.] Weyforth reviewed Mellon’s book–“Taxation—The People’s Business”.

Seminary ended for the year.

Sources: Johns Hopkins University. Eisenhower Library, Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 1. Minutes of the Economic Seminary, 1892-1951. Folder “1922-1940”.

The Johns Hopkins University Circular, Vol. 43 (January 1924).

The Johns Hopkins University Circular, Vol. 43 (November 1924).

Image Source: Webpage “Gilman Hall circa 1920” in the Hopkins Perspective, 1876-Today collection.

Tags Barnett, Hollander, MitchellB, Weyforth

Johns Hopkins Seminar Speakers

Johns Hopkins. Economic Seminary, 1922-23

Post author By Irwin Collier
Post date 2018-03-12

An earlier post on the economic seminary of Johns Hopkins University (1903-04) was taken from an official publication of the university. In the meantime I have found the original minutes of the “economic conference”, followed by the “economic seminary” for the period 1892-1951! Up through the 1921-22 academic year, the minutes are handwritten, reasonably legible, but still harder to read than the typed minutes beginning in 1922-23. I’ll start with the easier reading first.

The economic seminary schedule for the following years have also been posted:

1903-1904
1904-1905

1922-1923
1923-1924
1924-1925
1925-1926
1926-1927

__________________

POLITICAL ECONOMY
GRADUATE COURSES

…The Economic Seminary

Two hours weekly through the year. Professors Hollander and Barnett, Associate Professor Weyforth, Miss Jacobs, and Dr. Mitchell.
The work of the year will be the study of representative forms of industrial development in the United States, and the analysis of significant activities of American labor organizations.

Source: The Johns Hopkins University Circular, Vol. XLI, 1922, p. 342.

__________________

MEMBERS OF THE ECONOMIC SEMINARY
1922-1923

Students

Black, Stanley Roberts

A.B., Colby College, 1921. 1^st year, Political Economy, History, and Political Science.

Chen, Chao Ming

Fuhkien Privincial College. 2^nd year undergraduate residence, candidate for A.B., Johns Hopkins University. Professor Latane, adviser.

Culver, Lydia Margaretta (Miss)

A.B. Goucher College, 1921. 1^st year, Political Economy

Evans, George Heberton, Jr.

A.B., Johns Hopkins University, 1920. 2^nd year, Political Economy, Political Science, and Psychology

Fedder, Abraham

A.B., Johns Hopkins University, 1921. 1^st year, Political Economy, Political Science, and History

Fossum, Paul Robert

A.B. Park Region Luther College, 1915. 2^nd year, Political Economy

Gillies, Robert Carlyle

A.B., Princeton University, 1920. 1^st year (part-time), Political Economy

Hankin, Anne E.

Attendant on courses in social economics [1923]

Hartin, William McCants

B.Litt., Furman University, 1897, and A.M., 1899; Th.M., Southern Baptist Theological Seminary, 1904. Part-time, Political Economy

Howard, Mary Cushing (Miss)

Bryn Mawr School. Attendant on Courses in Economics and Business Economics.

Kahn, Hortense Miller

A.B., Goucher College, 1916. 1^st year (part-time), Political Economy.

Levin, Benjamin Szold

Park School. Senior undergraduate, Dr. Weyforth, Adviser

Meeth, Ruth Elizabeth (Miss)

A.B., Goucher College, 1918. 1^st year, Political Economy

Nelson, Louise Dallam

Attendant on courses in social economics.

Pasternak, Lillian

A.B., Goucher College, 1920. 1^st year, Political Economy

Saiontz, Leon Robert

A.B., Johns Hopkins University, 1921. 2^nd year, Political Economy

Suzuki, Hitoshi

Master of Commerce, Meiji University (Japan), 1920. 1^st year, Political Economy

Tingley, Ruth (Miss)

A.B., Goucher College, 1914. 1^st year, Political Economy

Whistler, Margaret Kathryn (Miss)

A.B., Goucher College, 1921. 1^st year, Political Economy.

Wyckoff, Vertrees Judson

A.B., Princeton University, 1920. 1^st year (part-time), Political Economy

Griffiss, Bartow [Added to list of members]

A.B., Johns Hopkins University, 1920. 2^nd year, Political Economy, Political Science, and Psychology

Seibert , Louise Cleret (Mrs.) [Presented, but not on list of members]

A.B. Goucher College, 1920. (probably) 1^st year (part-time) Political Economy

Taketomi, Yasuo [Presented, but not on list of members]

A.B., Waseda University. 2^nd year, Political Economy

Faculty

Jacob H. Hollander, Professor of Political Economy [at present rank, 1904-; first appointment, 1894]

George Ernest Barnett, Professor of Statistics [at present rank, 1911-; first appointment, 1901]

A.B., Randolph Macon College, 1891; Fellow, Johns Hopkins University, 1899-1900, and Ph.D., 1901.

William Oswald Weyforth, Associate (Associate Professor Elect) in Political Economy [at present rank, 1919-]

A.B., Johns Hopkins University, 1912, and Ph.D., 1915; Instructor, Western Reserve University, 1915-17.

Broadus Mitchell, Instructor (Associate Elect) in Political Economy [at present rank, 1919-]

A.B., University of South Carolina, 1913; Fellow, Johns Hopkins University, 1916-17, and Ph.D., 1918.

Miss Theo Jacobs, Associate in Social Economics [1919-]

A.B., Goucher College, 1901; Federated Charities of Baltimore (District Assistant, 1905-07, District Secretary, 1907-10, Assistant General Secretary, 1910-17, Acting General Secretary, 1917-1919.

__________________

Minutes of the Seminary
1923-24

October 11, 1922

The opening meeting of the economic seminary of the session was held in room 315 on Wednesday at 2 o’clock. Mr. [Bartow] Griffiss read a paper on “The Relation Between Fluctuations in the Call Money Rate and in Stocks”.

October 18, 1922

The economic seminary met at 2 o’clock. Professor [George E.] Barnett read a paper on “Index Numbers of the Total Cost of Living as a Measure of Satisfaction”.

October 25, 1922.

Mr. [Robert Carlyle] Gillies read two papers , (1) “Minimum Health and Decency Budgets as Employed in Labor Union Arguments,” and (2) “Relative Cost of Government and Private Borrowing”.

November 1, 1922

Mr. [Vertrees Judson] Wyckoff read a paper on “Illustrations of the Tactics of Two Trade Unions During Period of Commercial Depression”.

November 8, 1922

Mr. Paul Robert Fossum read a paper on “The Agrarian Movement in North Dakota”.

November 15, 1922

Professor [Jacob H.] Hollander read a paper on “The Allied Debt”.

November 22, 1922

Mr. [Stanley Roberts] Black read a paper on “Recent Investment Policies of Mutual Savings Banks”.

November 29, 1922

Mr. [Leon Robert] Saiontz read a paper on “Tax Exempt Securities in the United States”.

December 6, 1922

Mr. [Abraham] Fedder read a paper on “History of the Index Numbers of the Cost of Living in Great Britain”.

December 13, 1922

Mr. [William McCants] Hartin read a paper on “Control of the Boll Weevil in the United States”.

December 20, 1922

Miss [Lillian] Pasternak read a paper on “Interrelated Dependent Families”.

January 3, 1923

Mr. [Bartow] Griffiss read a paper on “Control of the Call Money Rate”.

January 10, 1923

Mr. [Benjamin Szold] Levin read a paper on “The Farm Loan Act”.

January 17, 1923

Mr. [Robert Carlyle] Gillies read a paper on “Performance of the U.S. Railroad Administration”.

January 24, 1923

Mrs. [Louise Cleret] Seibert read a paper on “Unions of Government Employees”.

January 31, 1923

Miss [Mary Cushing] Howard read a paper on “The American Federation of Labor”.

February 7, 1923

Dr. [William O.] Weyforth read a paper on “Exchange Rates and Purchasing Power Parities”.

February 14, 1923

Professor [Jacob H.] Hollander gave a talk and read some Letters of Adam Smith.

February 21, 1923

Dr. [Broadus] Mitchell talked on “The Recent Accession to the Hutzler Collection”.

February 28, 1923

Mr. [Bartow] Griffiss talked on “The Operation of the New York Call Money Market”.

March 7, 1923

Mr. [Vertrees Judson] Wyckoff read a paper on the “Conclusions on the Readjustment of Trade Union Agreements in a Period of Depression”.

March 14, 1923

Mr. [Stanley Roberts] Black read a paper on “Legislative Policies in Respect to Investments of Mutual Savings Banks”.

March 21, 1923

Mr. [Paul Robert] Fossum read a paper on “The Functions of the Bank of North Dakota in the Industrial Program of the Non-Partisan League”.

March 28, 1923

Mr. [Hitoshi] Suzuki read a paper on “Post-War Finance in Japan”.

April 11, 1923

Mr. [Abraham] Fedder read a paper on “Occupational Changes Due to Invention and Improvements”.

April 18, 1923

Mr. [Leon Robert] Saiontz read a paper on “History of Tax Exempt Securities”.

April 25, 1923

Miss [Ruth Elizabeth] Meeth read a paper on “Placing Out Work of the Henry Watson Children’s Aid Society”.

May 2, 1923

Miss [Ruth] Tingley read a paper on “The Unmarried Mother and Her Child”.

May 9, 1923

Miss [Lydia Margaretta] Culver read a paper on the “History of Baltimore Association for the Improvement of the Conditions of the Poor”.

May 15, 1923

Mr. [Yasuo] Taketomi read a paper on “Thomas Hood’s Social Verse”.

May 23, 1923

Miss [Margaret Kathryn] Whistler read a paper on “Probation in Baltimore”.

Seminary ended for the year.

Sources:

Dates, presenters and topics from: Johns Hopkins University. Eisenhower Library, Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 1. Minutes of the Economic Seminary, 1892-1951. Folder “1922-1940”.

Information about the members of the seminary from: The Johns Hopkins University Circular, Vol. XLI, 1922 and The Johns Hopkins University Circular, Vol. XLII, 1923.

Image Source:Webpage “Gilman Hall circa 1920” in the Hopkins Perspective, 1876-Today collection.

Tags Barnett, Hollander, JacobsT, MitchellB, Weyforth

Columbia Economic History Economists Harvard Illinois Johns Hopkins Minnesota Yale

Columbia. Seligman Recommends Three Harvard Colleagues for English Visiting Professorship, 1925

Post author By Irwin Collier
Post date 2017-09-03

The Sir George Watson Chair of American History, Literature, and Institutions was administered by the Anglo-American Society for a distinguished visiting professor to lecture in several English universities. The inaugural lecture was given in 1921 by Viscount Bryce. That lecture, “The Study of American History” was published along with an account of the establishment of the Sir George Watson Chair. The first full course of lectures, “Economic Problems of Democracy” was given the following year by the economist and President-Emeritus of Yale University, Arthur T. Hadley.

From the following exchange of letters between the president of Columbia University and economist, E.R.A. Seligman, we harvest Seligman’s ranking of four economics professors (three from Harvard and one from Johns Hopkins) regarded by Seligman to dominate the leading specialists in American economic history for this prestigious visiting position in “American History, Literature, and Institutions”. I have been unable at this time to determine who was actually appointed in 1925 or 1926

______________________________

Columbia President Butler Requests E.R.A. Seligman to Propose Names of Distinguished Economists for a British Chair in American History

Columbia University
in the City of New York
President’s Room

January 6, 1925

Professor E. R. A. Seligman
Department of Economics

My dear Professor Seligman

The electors to the Watson Chair of American History in British Universities contemplate acting upon a suggestion of mine and naming in the not distant future a competent American scholar to present the subject of our economic history and development. The topics that I have in mind include the migration West and the settlement of the large land areas there, the development of government aid in internal improvements, the building up of the railway and other transportation systems, the struggles over the tariff, the development, both industrially and geographically, of our manufacturing system, and the growth and character of foreign trade. There would, of course, also have to be treatment, although in general fashion, of the high points of our financial history.

Can you out of your wide acquaintance with American economists suggest a few names that I might send to the electors for consideration when they come to make their choice? The man ought to have enough standing at home to make his appointment abroad significant. He ought to be a good lecturer before a general academic audience and he ought to have a sufficiently philosophic cast of mind to avoid plunging into a morass of facts and statistics when what is needed is philosophic exposition of principles, happenings and trends of events.

With cordial regards an all the compliments of the season, I am

Faithfully yours
[signed]
Nicholas Murray Butler

______________________________

Copy of Seligman’s Response to Butler’s Request

January 7, 1925.

President Nicholas Murray Butler,
Columbia University.

My dear President Butler:

In reply to your letter of January 6^th I would say that the professed economic historians are not of the very first rank. The best of them are Clive Day, of Yale, who is, I am afraid, a bit ineffective as a speaker; E. L. Bogart, of Illinois, who is a much more impressive personality and who is a fine fellow, although not a scholar of the first rank; and, finally, Professor Gras, of Minnesota, who is a younger man. It would be far better, it seems to me, to choose some prominent economist, many of whom either give courses in economic history as an incidental matter or who may be assumed to have a competent knowledge of American history. In this rank I should put first Professor E. L.(sic) Gay, of Harvard, with whom no doubt you are acquainted, and who was formerly editor of the Evening Post; then either Ripley or A. A. Young, of Harvard, would do very well, as they are both men of distinction and personality. Other men, like Hollander of Johns Hopkins, occasionally gives courses similar to the one that I give every few years, on economic and fiscal history. Taking it all in all, the order of my choice would be Gay, Young, Ripley, Hollander.

If you desire more detailed information about any of these and their characteristics or standing, I should be glad to talk it over with you.

Faithfully yours,
[E.R.A. Seligman]

Source: Columbia University Archives. Edwin Robert Anderson Seligman Collection, Box 37, Folder “Box 100, Seligman, Columbia 1924-1930”.

Image Source: E.R.A. Seligman portrait in American Economic Review, 1943.

Tags Bogart, DayC, Gay, Gras, Hadley, Hollander, Ripley, Seligman, Young

Johns Hopkins

Johns Hopkins. Economic Seminary 1903-04

Post author By Irwin Collier
Post date 2016-10-21

The economic seminary schedule for the following years have also been posted:

1903-1904
1904-1905

1922-1923
1923-1924
1924-1925
1925-1926
1926-1927

_________________

THE ECONOMIC SEMINARY, 1903-1904.

Edited by Associate Professor J. H. Hollander.

During the current academic year, the Economic Seminary has continued its investigation into the history, activities and influence of labor organizations in the United States. Its membership has been more narrowly limited to advanced students preparing for a scientific career in economic study, and its primary design has been the development of sound method in economic research. The regular fortnightly evening sessions have been supplemented by briefer morning sessions in alternate weeks. The material resources necessary for the inquiry have been supplied by the continued generosity of the citizen of Baltimore, whose original gift made its inception possible.

“A Trial Bibliography of American Trade Union Publications,” in the preparation of which the Seminary has been engaged since October, 1902, has been completed and issued as a brochure of 110 pages under the editorship of Dr. Barnett, in the Johns Hopkins Studies in Historical and Political Science (January-February, 1904). Appreciable progress has also been made by individual members of the Seminary in the study of specific aspects of the several questions assigned for investigation. Daring the summer, field work was carried on in various carefully selected localities, and the data thus collected have since been supplemented and corrected by documentary study and personal interview. It is hoped that during the next academic year, a cooperative volume of studies in American trade unionism can be issued by the Seminary, embodying the preliminary results of the various investigation now in progress and ultimately designed for monographic publication.

The record of the proceedings of the Seminary, and abstracts of certain of the papers there presented, are appended:

October 14.	Reports of the summer’s field work, by Associate Prof. Hollander, Dr. Barnett, Messrs. Hilbert, Kirk, Motley, Ranft and Sakolski.
October 20.	“Collections of American Trade Union Publications,” by Dr. George E. Barnett.
October 28.	“Shop Rules of the International Typographical Union,” by Dr. George E. Barnett.
November 3.	“Opportunities for Social Work in Baltimore,” by Dr. Walter S. Ufford, General Secretary of the Charity Organization Society of Baltimore.
November 11.	“The Development of the Knights of Labor Movement,” by William Kirk.
November 17.	“The Condition of Women and Children in the Factories of Baltimore,” by Charles F. Ranft.
November 23.	“The Finances of Representative Trade Unions,” by A. M. Sakolski.
December 1.	Plan of a monographic study of “The Printing Trade,” by Dr. George E. Barnett.
December 8.	“Employers’ Associations in the United States,” by F. W. Hilbert.
December 15.	Reports on local labor conditions, by Messrs. Blum, Hilbert and Motley.
January 6.	(a) “The Apprentice in the Building Trades,” by J. M. Motley. (b) “The Future of the Trusts,” by L. G. McPherson.
January 12.	(a) Preface to “A Trial Bibliography of American Trade Union Publications,” by Dr. George E. Barnett. (b) The New Orleans meeting of the Economic Association, by Associate Professor Hollander.
January 20.	“The Structure of the International Cigar Makers’ Union,” by T. W. Glocker.
January 26.	“Evolution of Railroad Rates,” by L. G. McPherson.
February 3.	“Shop Rules in the Building Trades,” by S. Blum.
February 17.	(a) “Beneficiary Features of the Cigar Makers’ International Union,” by J. B. Kennedy. (b) “High License in Baltimore,” by H. S. Hanna.
February 23.	A review of recent French and German works on Sociology, by W. H. Buckler.
March 2.	“The Beneficiary Departments of Transportation and Mining Corporations,” by L. G. McPherson.
March 8.	“Oyster Legislation in Maryland,” by M. O. Shriver, Jr.
March 16.	“The Theory of a Standard Rate of Wages,” by William H. Buckler.
March 22.	“Labor Unionism and Industrial Efficiency,” by Mr. Henry White, General Secretary of the United Garment Workers of America.
March 28.	“A Comparison of the Functions of the Knights of Labor and the American Federation of Labor,” by William Kirk.
April 12.	Plan of a monographic study of “The Structure of American Trade Unions,” by T. W. Glocker.
April 13.	“The Cost of Strikes to Trade Unions,” by A. M. Sakolski.
April 19.	Plan of a monographic study of “The Shop Regulations of American Trade Unions,” by S. Blum.
April 27.	“Trade Agreements in the Iron Molders’ Union,” by F. W. Hilbert.
May 3.	Plan of a monographic study of “The Beneficiary Features of American Trade Unions,” by J. B. Kennedy.
May 11.	“Trade Union Membership in the Building Trades,” by J. M. Motley.
May 17.	Plan of a monographic study of “Trade Unionism and the Standard Wage,” by W. H. Buckler.
May 25.	“Collective Bargaining in the Printing Trade,” by Dr. George E. Barnett.

Source: Johns Hopkins University Circular. New Series, 1904. No. 3. (May, 1904), pp. 1-3. Also available at the Internet Archive.

Image Source: Johns Hopkins University ca. 1903. Library of Congress, Prints & Photographs Online Catalogue.

Tags Hollander

Chicago Economists

Chicago. Memorandum on a Fiscal Stimulus, 1932

Post author By Irwin Collier
Post date 2016-08-05
2 Comments on Chicago. Memorandum on a Fiscal Stimulus, 1932

Today’s post is a jewel of fiscal policy thought in a memorandum from the University of Chicago written in 1932 at the trough of the Great Depression in the United States. Looking at the signers of the memorandum that argues for aggressive fiscal stimulus (economists covering the ideological spectrum from Aaron Director through Paul Douglas), one is reminded of Ben Bernanke’s bon mot from the last big financial crisis: “There are no atheists in foxholes or ideologues in a financial crisis”.

Note: Bernanke’s crack appears to be a minor variation on Jeffrey Frankel’s twist.

Backstory

After WWI, veterans lobbied for “adjusted compensation” to partially make up the difference between their combat pay and the significantly higher wages that had been paid to workers at home during the War. Veterans preferred the term “adjusted compensation” to the term “bonus” (the latter term being construed as implying something that goes beyond full and fair compensation). In 1924 veterans were finally granted “adjusted universal compensation” in the form of certificates that credited $1.25 for each day served abroad plus $1.00 for those days served in the U.S. These certificates were essentially 20-year insurance policies equal to 125% of the service credit to be redeemed in full on the veteran’s birthday in 1945. (Exceptions for immediate cash payments were granted for amounts less than $50 and in order to settle estates of deceased veterans for payments of less than $500). More details can be found at this link.

In 1932 the question arose whether an early payout of these certificates would be a prudent and effective fiscal stimulus and Congressman Samuel Barrett Pettengill (Democrat) of Indiana sent the questionnaire that follows to academic economists across the country to solicit their advice in the matter.

A month later protesting “Bonus Marchers” (ca 20,000 veterans) set up camps in Washington, D.C. that they were evicted from by regular troops of the U.S. Army let by General Douglas MacArthur. It wasn’t until 1936 that the WWI veterans were paid their adjusted compensation.

Responses to Congressman Pettengill’s inquiry were published in the Hearings of the House Committee on Ways and Means for:

Edwin Walter Kemmerer, Princeton University
Frank Whitson Fetter, Assistant Professor of Economics, Princeton University
Thomas Nixon Carver, Professor of Economics, Harvard University
S. J. Coon, Dean of the College of Business Administration, University of Washington
Harry E. Miller, Professor of Economics, Brown University
C. W. Hasek, Head of the Department of Economics and Sociology, Pennsylvania State College
Walter W. McLaren, Department of Economics, Williams College
Harry L. Severson, Assistant Professor, Department of Economics and Sociology, Indiana University
Hiram L. Jome, Professor of Economics, DePauw University
Warren B. Catlin, Department of Economics and Sociology, Boudoin College
E. E. Agger, Professor of Economics and head of the Department of Economics, Rutgers University
Edwin R. A. Seligman, Columbia University
H. A. Millis et al., Department of Political Economy, University of Chicago
Jacob H. Hollander, Johns Hopkins University
William C. Schleter, University of Pennsylvania
Albert Bushnell Hart, Harvard University (historian)

Today’s post begins with the cover statement of the memorandum found with the copy in the Papers of the President of the University of Chicago, Robert Maynard Hutchins, Box 72. It is followed by Congressman Pettengill’s list of questions, as well as the Chicago memorandum submitted by H. A. Millis and eleven of his University of Chicago colleagues.

A cursory sweep of the web discovered that this Chicago memorandum has been reprinted as Appendix B in J. Ronnie Davis’s 1967 Virginia Ph.D. dissertation, “Pre-Keynesian economic policy proposals in the United States during the Great Depression.” A scanned version of the Congressional Hearings in which the Chicago memorandum was published can be found at Hathitrust.org. I have compared the published version from the House Ways and Means Committee Hearings with the typed copy filed with the papers of President Hutchins at the University of Chicago Archives. Other than minor differences in spelling (e.g. the capitalized form “Federal” is used in the published version), the memorandum was published by the House Ways and Means Committee exactly as received.

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A MEMORANDUM PRESENTED TO A MEMBER OF THE HOUSE COMMITTEE ON MILITARY AFFAIRS, APRIL 26, 1932.

Two members of the staff of the Department of economics, at the University of Chicago, received letters from a member of the House Committee on Military Affairs, requesting answers to certain questions. Inasmuch as the views of a large number of economists were desired, the letter was circulated among and read by twelve men of the Chicago faculty; and steps were taken to prepare a memorandum covering the points raised….The memorandum, with the names of the twelve professors participating in its formulation, is reproduced in its entirety. Because of the character of the issues raised, it seemed better to prepare the memorandum in the form it has taken than to answer the specific questions, the one after the other.

Source: University of Chicago Archives. Hutchins Box 72. Folder 6 “Economics Department, 1932-1933”.

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STATEMENT OF HON. SAMUEL B. PETTENGILL, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF INDIANA

Mr. Pettengill. Mr. Chairman, I am not on the calendar this morning and therefore in justice to those who are here I have asked for only one minute.

Some time ago, before I knew when the Ways and Means Committee was to have hearings on this matter, on my own initiative I sent a questionnaire to 50 of the leading economists of the country on the Patman and the Thomas bills; also with reference to the benefit of “reflation” and the danger of inflation.

I have a very interesting file here, including letters from Mr. Kemmerer and Mr. King who have appeared before the committee.

In order to shorten the record as much as possible, I have briefed the replies somewhat. The entire letters, of course, are available.

[…]

Mr. Pettengill. Mr. Chairman, as I have stated, I endeavored to get the benefit of the best and most disinterested economic thought of the country with reference to the advisability of either borrowing money or printing money with which to liquidate the adjusted service certificates. In the main, I sent my letters to the economics department of our leading colleges and universities. In order to make their replies more intelligible to you, as many of them answered numbered questions in my letter, I attach, first, my original letter.

(The letter referred to is as follows:)

Dear Sir: I am writing you and other leading economists in the country with reference to the problem confronting Congress with regard to the proposed payment of the soldiers’ bonus. I trust that I will be able to secure a symposium of opinion by authorities such as yourself which will be of real value to Congress.

As you know, at the end of this fiscal year we will have an accumulated deficit of some $3,000,000,000. It is, I think, the largest peace-time deficit of any country in the world. It is rapidly getting larger. We are going into the red now $7,000,000 a day. United States obligations have recently sold below 85.

On the other hand, commodity, wage, land, and security prices are slowly drifting to levels so disastrous that they threaten the most widespread repudiation of debts and tax defaults, which may wipe out, along with the debtors, classes holding the obligations of individuals, corporations, States, and municipalities now totaling some one hundred fifty to two hundred billion dollars, which is about one-half the Nation’s wealth. For example, the conservative Washington Post, April 11, said:

“The dollar increases in value every day … unless this vicious movement is checked it will result in panic. The extension of credit will not be sufficient. Heroic emergency measures that will arrest the fall of prices seem to be in order. … This economic malady has reached a point where it can not be expected to cure itself without leaving horrible scars. … Some powerful agency must be thrown into the breach to restore the value of goods and services against this exaggerated value of money. … Emergencies of this kind call for drastic action. … It is time for the leaders in Government and financial circles to focus their minds upon realignment of values. The people would not countenance the manufacture of fiat money to make prices rise, But some method of currency expansion on a sound gold basis may be necessary.”

The question is the advisability of paying the so-called soldiers’ bonus as an antideflationary, inflationary, “reflationary” or stabilizing measure. The name, of course, is not important.

A number of different bills have been proposed. H. R. 1, introduced by Mr. Patman, of Texas, calls for borrowing the $2,400,000,000 necessary to make payment.

Do you think we can, or should, borrow this?

Sentiment here, however, is crystallizing around (for or against) Mr. Patman’s substitute, H. R. 7726; I inclose copy.
This bill simply proposes to print money to pay the debt. Is this sound, advisable, or defensible, in view of the existing emergency? And in the light of present gold reserves?

It has been suggested that it could be strengthened as follows:
Call in the outstanding adjusted-service certificates now redeemable in 1945. Collateralize them together with 40 per cent gold which is said to be now available over and above the amount necessary for circulation now outstanding. Issue currency against this hypothecation and pay the veterans off. Then set up a sinking fund to retire the currency (together with the certificates) in whole or in part in 1945, or gradually before that time.

With reference to “excess reserves” see Federal Reserve Bulletin, March, 1932, page 143: “On the basis of these excess reserves, the Federal reserve banks could issue $3,500,000,000 of credit if the demand were for currency and $4,000,000,000 if it were for deposits at the reserve banks.”

What credit do you give this statement as a basis for the proposed bonus payment?

There are, of course, all sorts of social and political features around this problem, but I direct your attention to its economic and fiscal aspects. It is a problem of the most tremendous consequences and Members here who are patriotically trying to do their best to cut the present vicious circle for the good of the entire country (not the veterans alone) need, and will appreciate, the advice of men like yourself, whose life study makes your judgment so valuable.

Is the suggested alternative sound?

Does it in reality add any element of safety to H. R. 7726, the outright issue of nonretirable currency?

Can it be improved? If so, how?

It is said the Europe holds $2,000,000,000 of deposits in this country. With their experience with “printing-press” money, would they become frightened for the solvency of the dollar, and cause disastrous liquidation and withdrawals here in America? Could such liquidation of foreign-held obligations be stopped unless we “went off gold,” or had available the precautionary device of authorizing the Treasury to change the amount of gold in our dollar along the lines advocated by Irving Fisher? If foreign exchange began to go against us, would it help Europe pay us her public and private debts, as an offset against our investment and deposit obligations held by Europeans?

Would the introduction of $2,400,000,000 new currency into the pockets of the people necessarily result in the rise of commodity and other levels thus causing merchants to place orders for the products of farm and factory, thus starting production and accelerating employment?

The Glass-Steagall bill, as you know, for the period of one year, authorized placing 60 per cent Government bonds plus 40 per cent gold behind Federal reserve money. This, of course, as I understand it, is 60 per cent “greenbackism,” placing one promise to pay (Government bond) behind another promise to pay (currency) to the extent of 60 per cent. Assuming that the adjusted-service certificates are also promises to pay, can the Glass-Steagall bill and the suggested method of handling the payment of the bonus be distinguished, from the standpoint of soundness?

The Glass-Steagall bill, as it appears to me, does not seem to have stopped the deflationary trend, for the reason that its potential currency expansion is based upon borrowing, and banks and individuals are not borrowing (or lending).
Recently I have heard Willford I. King, professor of economics, New York University, testify before the House Banking and Currency Committee. Although not directing his particular attention to the “bonus” he was quite clear that the currency must be expanded at the present time in order to start commodity prices upward and permit debts and taxes to be paid, as well as to start buying, and employment. However, he was equally clear that for such currency something of equal value should be taken in by the Government, e. g., Government bonds, thus temporarily substituting noncirculating certificates of indebtedness (bonds) for circulating certificates (currency). Then, he said, when commodity prices reach the desired level, e. g., 1926 commodity index, the process would be reversed, the bonds resold, and the currency retired. It was his opinion that such a device is necessary in order to stop the elevator at the right floor—i. e., prevent inflation beyond a certain point.
Neither the Patman nor the suggested alternative plan seems to me to contain this safeguard. That is, the adjusted-compensation certificates when once taken in would not be available for reissue.

I need not state that every member here is anxious to solve the problem, not from the standpoint of helping the needy veteran and his family at the expense of the rest of the community, but only from the standpoint of benefiting the entire Nation, on the theory that a distribution to the veteran would, of course, be passed on at once in the payment of taxes, interest, land contracts, doctors’ and merchants’ bills, etc., and with the expectation that this would stop and reverse the trend of values. If the plan or any other conceivable plan at this time would bring only disaster to the Nation and thus to the veteran and his family we have no alternative except to wait until the present economic storm blows over.

Your thoughtful consideration of this matter is most earnestly requested. Your prompt reply will be a distinct public service.

I desire, of course, to use the substance of your reply, but will not quote you, by name, without your permission. Please let me know if you do give this permission.

Sincerely yours,

Samuel B. Pettengill, Member of Congress.

Source: U. S. Congress (Seventy-Second Congress, First Session). Payment of Adjusted-Compensation Certificates in Hearings before the Committee on Ways and Means, House of Representatives (April 11 to 29, and May 2 and 3, 1932),pp. 508, 511-513

______________________________

The University of Chicago,
Department of Economics,
April 26, 1932.

Hon. Samuel. B. Pettengill,
House Office Building, Washington, D. C.

My Dear Mr. Pettengill: The inclosed memorandum has been prepared in an attempt to answer the questions put in your letter of April 13. It has been developed in a committee of two, in conference, and in round table. It is approved by all of the University of Chicago economists who participated in the discussion and formulation; their names appear at the end of the memorandum.

It has seemed better to answer your questions in a memorandum divided into five sections rather than to answer them specifically, the one after the other. I think all of your questions, save that relating to Professor King’s testimony, are answered. No direct reference is made to King’s position because it has seemed better to take a positive stand rather than to criticize.

You ask permission to use the replies to your questions. This is, of course, granted, but our preference would be to have the whole rather than a part of the memorandum given publicity.

Trusting that the memorandum will be of some assistance to you, I am

Very truly yours,

H. A. Millis.

(The memorandum referred to follows:)

I.

Severe depression and deflation can be checked, and recovery initiated, either by virtue of automatic adjustments, or by deliberate governmental action. The automatic process involves tremendous losses, in wastage of productive capacity, and in acute suffering. It requires drastic reduction of wage rates, rents, and other “sticky” prices, notably those in industries where readjustments are impeded by monopoly and exceeding politeness of competition. It must also involve widespread insolvency and financial reorganization, with consequent reduction of fixed charges, in order that firms may be placed in position to obtain necessary working capital when and where expansion of output becomes profitable. Given drastic deflation of costs and elimination of fixed charges, business will discover opportunities for profitably increasing employment, firms will become anxious to borrow, and banks will be more willing to lend.

As long as wage cutting is evaded by reducing employment, and as long as monopolies, including public utilities, resist pressure for lower prices, deflation may continue indefinitely. The more intractable the “sticky” prices, the further credit contraction will go, and the more drastic must be the ultimate readjustment. We have developed an economy in which the volume and velocity of credit is exceedingly flexible and sensitive, while wages and pegged prices are highly resistant to downward pressure. This is at once the explanation of our plight and the ground on which governmental action may be justified. Recovery can be brought about, either by reduction of costs to a level consistent with existing commodity prices, or by injecting enough new purchasing power so that much larger production will be profitable at existing costs. The first method is conveniently automatic but dreadfully slow; and it admits hardly at all of being facilitated by political measures. The second method, while readily amenable to abuse, only requires a courageous fiscal policy on the part of the central government.

(We agree entirely with your remarks as to the inadequacy of the Glass-Steagall bill and similar expedients. Little is to be gained merely by easing the circumstances of banks, in a situation where, by virtue of cost-price relations, everyone, including the banks, is anxious to get out of debt. Such measures may retard deflation and prepare the way for recovery; but they cannot much mitigate the fundamental maladjustments between prices and costs.)

II.

If action is needed to raise prices (and we believe it is), it should take the form of generous Federal expenditures, financed without resort to taxes on commodities or transactions. For the effect on prices, the direction of expenditure is not crucially important. Heavy Federal contribution toward relief of distress is the most urgent and, for reflation, perhaps the most effective measure. Large appropriations for public and semipublic improvements are also an attractive expedient, provided projects are chosen which can be started quickly and opportunely stopped. Generous bonus legislation would be the most objectionable of all available devices for releasing purchasing power. Purchase of the certificates at their present value, instead of at maturity value, is perhaps relatively unobjectionable.

Bonus legislation invites comparison with a program of Federal subsidy to agencies engaged in administering emergency relief. Both measures involve a sort of outright gift, the provision of funds to individuals or for their support. One involves allocation according to need, when need is dreadfully acute; the other ignores this criterion completely. Furthermore, funds spent for relief would certainly be spent for commodities, and very promptly, while less needy veterans might only use additional cash further to increase hoarded savings. Of the possible consequences of bonus concessions for the future of pension legislation, mere reminder should suffice. Congress has already capitulated to the veterans and their votes on the grounds that the Treasury was full, and the community prosperous. It is now on the verge of capitulating again, on the grounds that the Treasury is empty, and the community impoverished.

III.

It is impossible to estimate in advance how much Federal expenditure might be required to bring genuine revival of business. We are persuaded, however, that the automatic adjustments have already proceeded to a stage where the necessary inflationary expenditures would be handsomely rewarded, in greater production, larger employment, and higher tax revenues.

One should recognize at the outset a danger that any measures of fiscal inflation may be too meager and too short lived. Inadequate, temporary stimulation might well leave conditions worse than it found them. We might experience temporary revival and then serious relapse, followed by more drastic deflation than would otherwise have been necessary. If we indorse inflation, we should be prepared to administer heavy doses of stimulant if necessary, to continue them until recovery is firmly established, and to discontinue them when the emergency is ended. It is obvious that the bonus measures fail utterly to provide this necessary flexibility.

IV.

The question of how emergency expenditures, for whatever purposes, should be financed, is difficult and highly controversial. The wisest policy for the present, however, would seem to be one guided largely by psychological considerations. It is likely that adequate stimulus could be imparted, and recovery assured, without creating an excessive drain upon our gold reserves. Inflationary measures, in whatever form, will probably accelerate for a time the export of gold; but this strain we may well be able to endure until revival of business is assured. Domestic hoarding of gold, on the other hand, might force us to suspension of our currency laws; and this possibility dictates caution as to the technique of inflation. The problem is simply that of selecting the procedure which will be least alarming.

On other grounds, the issue of greenbacks seems most expedient; but this method must be ruled out unless one is ready to abandon gold immediately, for it would create the greatest danger of domestic drain. Large sales of Federal bonds in the open market would be much less alarming; but the probable effect upon the prices of such bonds must give us pause, especially since a marked decline might jeopardize the position of many banks. It would certainly be better for the Government to sell new issues directly to the reserve banks or, in effect, to exchange bonds for bank deposits and Federal Reserve notes. Much may be said, indeed, for issuing the bonds with the circulation privilege, thus permitting the Reserve Banks to issue Federal Reserve Bank notes in exchange; for this procedure does not much invite suspicion, has supporting precedent, and would greatly reduce the legal requirements with respect to gold.

It is well to face the possibility, though it seems remote, that adequate fiscal inflation might force us to abandon gold for a time. We must be prepared to see a sort of race between depletion of the gold holdings of the reserve banks and improvement of business. If definite business revival is attained before the gold position becomes acute, the hoarders will have missed some great investment bargains; if inflation must be carried beyond the limits tolerated by gold, the hoarders will reap a profit. Moreover, if other gold-standard countries follow our example, as is quite probable, the threat to our adherence to the gold standard will prove negligible.

But we would insist again that, once deliberate reflation is undertaken, it must be carried through, whatever that policy may mean for gold. To withdraw artificial support before genuine recovery is achieved, might create a situation worse than that which would have obtained in the absence of remedial efforts. If the time comes, as it probably will not, when we must choose between recovery and convertibility, we must then abandon gold, pending the not distant time when world recovery will permit our returning to the old standard on the old terms. The remote possibility of our being forced to this step, however, should not influence our decision now. The supposedly awful consequences of departure from gold are, as England has shown us so clearly, nothing but fantastic illusions.

V.

It is easy to be too greatly alarmed about the possibility of extreme and uncontrolled inflation. With improvement of business, Federal revenues will automatically increase. Expenditures may then be financed to a lesser extent by borrowing, and thus with less inflationary influence. Indeed, one might maintain that temporary inflation is the most promising means to restore a balanced Budget. Moreover, with proper precautions, it should not be difficult to effect drastic reduction of expenditures at the appropriate time. The emergency character of inflationary appropriations should be emphasized in the acts themselves; and Congress should record the intention of balancing expenditures and revenues over a period of, say four or five years. Incidentally, no emergency expenditures would permit of more opportune retrenchment than those for relief of distress.

We find it difficult, at the present juncture, to give due attention to the problem of preventing or modifying the next boom. Obviously, we should attend to getting out of the present emergency first. It demands emphasis, however, that successful resort to fiscal methods for terminating deflation will present the very serious problem of keeping recovery within safe bounds. A merely salutary inflation treatment will fail to satisfy many groups. There will certainly be demand for more inflation and more “prosperity” than we can afford or sanely endure. Fiscal inflation must be regarded as a means for meeting an acute emergency for industry as a whole. It should not be viewed as a means of solving the agricultural problem, nor as a method for deflating the rentier. It is properly a most temporary expedient, to be abandoned (and reversed) long before many individual industries and classes have obtained the measure of relief which justice might prescribe.

We have suggested that for the period of the ensuing five years all Federal expenditures, including those of an emergency character, should be covered by tax revenues. To minimize the total necessary outlay, outlays should be very generous now; parsimonious inflation is an illusory economy. It would also be eminently wise to avoid now any new taxes which fall at the producer’s (or dealer’s) margin. The levies on income, however, should be advanced immediately to the maximum levels which an imperfect, but improving, administrative system can support. While such levies will be rather unproductive for a time, they will have no very deterrent effect upon business; and, having gotten them into the statutes during a period of least political resistance, we may be assured of large revenues at the appropriate time. Even after recovery, additional commodity taxes should be resorted to only if more equitable levies prove inadequate to full completion of the “5-year plan.” Indeed, by 1940, our Federal debt should stand at a figure far below that contemplated by existing legislation. We should have high income taxes when incomes are high.

Sound fiscal management during the next few years should give close attention to indexes of production, employment, and wholesale prices. We shall not undertake at this time to indicate any definite rules. There is no immediate problem of excessive inflation—rather, a danger of doing nothing or of a too modest beginning. For the not distant future, however, most careful and intelligent management will be imperative. Once there is clear evidence of revival, of increased and profitable production, the mechanism of credit expansion will begin to operate, and to carry on the task which fiscal inflation has begun. As soon as this happens, retrenchment must be started; emergency expenditures must be reduced as rapidly as is possible without undermining recovery. We should not attempt, by deliberate inflation, to bring prices to any level which we choose to regard as normal; nor should artificial stimulus be continued until production and employment attain really satisfactory levels. Fiscal measures should only be used to give to recovery a sure start. When this is done, the real task will be that of preventing the recovery from becoming a boom; and a beginning must be made in this task long before any alarming signs appear. The seeds of booms are sown by innocent expansion of credit during years of seemingly wholesome revival. The task of control is easily neglected at such times; and there is grave danger that both the Reserve Board and the Treasury will adopt inadequately deflationary tactics in this period when it is so easy to have no policy at all.

In summary, it is our unequivocal position that drastic but temporary fiscal inflation can now be productive of tremendous gains, with no possible losses of compensating magnitude; further, that after genuine revival of business has occurred, and especially if it is attained by artificial stimulation, there will soon be urgent need for prompt and decisive action of a deflationary character.

Garfield V. Cox.         Lloyd W. Mints.
Aaron Director.         Henry Schultz.
Paul H. Douglas.       Henry C. Simons.
Harry D. Gideonse. Jacob Viner.
Frank H. Knight.       Chester W. Wright.
Harry A. Millis.          Theodore O. Yntem.[sic]

Image Source: Authentic History Center website: Page “Hoover & the Depression: The Bonus Army.”

Tags Agger, Bernanke, Carver, Catlin, Coon, CoxGV, Director, Douglas, FetterFW, FrankelJeff, Gideonse, HartAB, Hasek, Hollander, Home, Kemmerer, Knight, McLarenW, MillerHarry, Millis, Mints, Schleter, SchultzH, Seligman, Severson, Simons, Viner, WrightCW, Yntema

Uncategorized

Johns Hopkins. Henry L. Moore on Thünen, 1893

Post author By Irwin Collier
Post date 2016-04-07

Henry L. Moore was an early pioneer of econometrics whose most important disciple was Henry Schultz who later brought econometrics to the University of Chicago. Today’s posting is a summary of Moore’s presentation to the “economics conference” at Johns Hopkins in March 1893. Moore’s dissertation,“Von Thünen’s Theory of Natural Wages”, was published in the Quarterly Journal of Economics, Vol. IX, Nos. 3 and 4 (April and July, 1895) and reprinted as a book with that title by George H. Ellis of Boston in the same year. An overview of Moore’s career is provided in George Stigler’s article in the International Encyclopedia of Social Sciences (1968).

While Moore was a graduate student at Johns Hopkins, John Bates Clark offered a series of lectures on the economics of distribution. The intense personal bond between Clark and Moore, at least felt on Moore’s side judging from the letters he wrote to his revered “Pater”, most certainly can be traced to that time.

Here is a “fun” link to the von Thünen Estate Museum in Tellow, Germany. While the website is in German, there are some nice pictures.

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If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled thus far. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

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[The Economics Conference of the Johns Hopkins University, 1892-93]

Dr. [Sydney] Sherwood has conducted on alternate Fridays throughout the year a voluntary conference of nineteen graduate students, giving special attention to economics. The work was devoted mainly to the investigations of recent tendencies in economic theory, and was carried on with great enthusiasm by the members. Several valuable contributions were made to economic literature. Among the papers read and discussed at the Conference may be mentioned the following: “The Theory of Final Utility in its Relation to Money and the Standard of Deferred Payments,” by L. S. Merriam, published in the Annals of the American Academy of Political and Social Science, January, 1893; “Value and its Measurement,” by David I. Green, published in abstract in the University Circulars, May, 1893; “The Place of Abstinence in the Theory of Interest,” by T. N. Carver, published in abstract in the above named Circular; “Mill’s Fourth Fundamental Proposition concerning Capital,” by J. H. Hollander, published in abstract in the above named Circular, “The Logical Content of the Terms Labor and Capital,” by Frank I. Herriott, published in abstract in the above named Circular; “The Wage Theory of Von Thünen,” by H. L. Moore, published in abstract in the above named Circular; and “Marshall’s Theory of Distribution,” by A. F. Bentley.

Source: Eighteenth Annual Report of the President of the Johns Hopkins University. (Baltimore, Maryland: 1893), p. 61.

_______________________________

Some Notes on von Thünen. By H. L. Moore.
[From a paper read before the Economic Conference, March 10,1893.]

Johann Heinrich v. Thünen was descended from a noble Frisian family. He was born June 24, 1783, upon his father’s estate, Kanarienhausen, in Jeverland, and received his first training at the high school at Jever. Later, he studied agriculture under Thaer at Celle, and spent the two semesters of 1803-1804 at Gottingen.

In consequence of his betrothal to a lady of Mecklenburg, he left Jeverland, and in 1810, he purchased his Tellow estate in Mecklenburg, where he remained, pursuing his favorite studies agriculture and political economy until his death, September 22, 1850.

Von Thünen’s chief work is “Der Isolirte Staat.” [The Isolated State] The scope of the first part of this work, well indicated by its title: “Untersuchungen über den Einfluss, den die Getreidepreise, der Reichthum des Bodens und die Abgaben auf den Ackerbau ausüben,” [Investigations on the Impact of Grain Prices, Land Fertility and Levies on Agriculture] is more concisely pointed out by the statement of Rodbertus that it teaches “the law of the relative worth of each system of husbandry.” This part of the work first published in 1826, was translated into the French by Laverrière in 1851.

The second part of Der Isolirte Staat, which is by far the more important, is entitled “Der naturgemässe Arbeitslohn und dessen Verhältniss zum Zinsfuss und zur Landrente.” [The Natural Wage and it Relation to the Rate of Interest and Land Rent] It was published for the first time in 1850, and was translated into the French in 1857 by Mathieu Wolkoff under the title: “Le Salaire Naturel.”

This work, i. e. Der naturgemässe Arbeitslohn, like every other great work in economics, was the outgrowth of the spirit of the age in which it was written. The great labor agitations which originated in France about the time of the French Revolution did not reach Germany with all their force until shortly before the Revolution of 1848. Von Thünen was among the first to take up the discussion. He profoundly feared a dangerous conflict between the middle class and the proletariat, and went to work to avert, if possible, what he believed to be an impending calamity. After almost twenty-five years of labor, he completed his work, arriving at what he supposed to be a solution of the question.

The primary object of his work is to ascertain the natural wage. As, however, in complex modern society so many forces operate to obscure the proposed problem, von Thünen makes an ideal state the groundwork of his investigation. This state, isolated from the rest of the world by means of a wilderness capable of cultivation, is a plain of uniform fertility. Its only city, in which are concentrated all of its non-agricultural industries, is located at its centre. Neither railroads nor navigable waters are found in this ideal state. Its population is constant, and individual differences in the character of the laborers are not considered.

With these conditions placed upon the isolated state, von Thünen obtains by means of very complex mathematical reasoning the formula for the natural wage, viz.: $\sqrt{ap}$ , where a represents the means of subsistence of the laborer, and p the product of his labor when he uses a definite amount of capital. Since $a:\sqrt{ap}::\sqrt{ap}:p$ , he expresses the result of his work as follows: “The natural wage is the mean proportional between the means of subsistence of the laborer, and the product of his labor.” Von Thünen thought so much of this formula that he directed that it should be placed upon his tombstone.

A criticism of the formula cannot be given here, but the result to which it led must be noted. In the formula, $\sqrt{ap}$ , the means of subsistence, is supposed to be constant for all men. Therefore as p, the product, increases, the natural wage must increase, since the natural wage is equal to $\sqrt{ap}$ . In other words, according to von Thünen, the natural wage demands that as the product increases, the wage must increase also. Convinced of the correctness of his work, he followed up his belief by instituting in 1847 a system of profit-sharing on his Tellow estate. This was the first instance that was made known of agricultural profit-sharing in Germany.

One peculiar feature of the system founded by von Thünen was that the share of the laborer was not paid him in cash, but was credited to his account. On the sum credited to each laborer, von Thünen allowed 4 1/6 per cent. interest, which was paid out in cash at Christmas. When the laborer was sixty years of age, he was permitted to draw the capital sum. If, however, he died before attaining that age, the sum went to his widow.

Although the heirs of von Thünen had full power to abolish the system which he established, they continued it with no important change. In a letter dated November 22, 1881, Herr A. von Thünen, the grandson of the economist, wrote Mr. Sedley Taylor the following: “The results of the participatory arrangement here are very gratifying.”

Von Thünen’s work was a masterly attempt to solve the great social question of his day, and in view of the fact that it was published before the works of Rodbertus, Marx, and Lassalle, it may reasonably be asked, “Why has von Thünen received so little attention?” The answer is found in the extremely abstract mathematical character of his work. Pythagoras himself could not have attached more importance to mathematics. Von Thünen confesses that in his work he is unable to make progress unless he has a mathematically secure foundation.

However, those who undismayed by the multiplicity of figures and formulas have studied the book would doubtless join Prof. Roscher in saying: “Sollte unsere Wissenschaft jemals sinken, so gehören die Werke von Thünen’s zu denjenigen, an denen sie die Möglichkeit hat, sich wieder aufzurichten.” [“Should our science ever be lost, von Thünen’s contributions would be among those works that would allow us to reconstitute it once again.”]

Source: The Johns Hopkins University Circular, Vol. XII, No. 105 (May 1893), pp. 88-89.

Image: Close-up of Thünen’s grave taken by Irwin Collier in June 2008.

Tags Carver, Hollander, Moore, Sherwood, Thünen

Chicago Columbia Cornell Courses Economists Harvard Johns Hopkins Michigan Pennsylvania Yale

Graduate Economics Courses. 23 US Universities. 1898-99

Post author By Irwin Collier
Post date 2015-06-21

In this posting we have a compilation of virtually all the graduate courses in economics (and sociology) offered at the major graduate schools in the U.S. at the end of the 19th century. Source

Barnard
Brown
BrynMawr
California
Chicago
Columbia
Cornell
Harvard
Hopkins
Stanford
Michigan
Minnesota
Missouri
NYU
Northwestern
Pennsylvania
Princeton
Radcliffe
Vanderbilt
Wellesley
WesternReserve
Wisconsin
Yale

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EXPLANATORY

“ To state the numbers of Graduate Students who have taken courses in each department during 1897-8, thus giving an indication of the amount of graduate work actually going on. A Graduate Student often takes courses in two or more departments; such student counts once in each of those departments….

…The number of hours per week is put in small Roman, the number of weeks in Arabic numerals. A dash, followed by a mark of interrogation, calls attention to the absence of specific information. Unless months are given, a course usually extends from September or October to May or June (inclusive). The abbreviations for the names of the months are as follows: Ja., F., Mar., Ap., My., Jun., Jul., Au., S., O., N., D.

…[Enclosed] in brackets all courses not to be given in 1898-9. Bracketed courses usually may be expected in 1899-1900.

…[Marked] with the asterisk all courses “not designed primarily for Graduate Students.” It should be borne in mind that “Graduate work” in each institution is conditioned by local plans of administration, as well as by the previous preparation of Graduate Students. The marking of a course with an asterisk simply means that (under the conditions prevailing in his institution) the instructor does not offer the course with a primary purpose of meeting the needs of Graduate Students. But the inclusion of the course in these lists indicates that it is often useful to such students.” [p. liii]

ECONOMICS, SOCIOLOGY, ANTHROPOLOGY, AND ETHNOLOGY.

(Including Finance and Statistics. See also 9 and 11.)

BARNARD.
16 Graduate Students, 1897-8.

[All Graduate Courses in Columbia under 10 open to Barnard Graduate Students.]

BROWN.
8 Graduate Students, 1897-8.

Henry B. Gardner, Assoc. Prof. of Pol. Econ.
A.B., Brown, ’84, and A.M., ’87; Ph.D., Johns Hopkins, ’90;
Instr. in Pol. Econ., Brown, ’88-’90.

Hist. of Economic Thought.* iii, 12, S.-D.
Economic Policy. iii, 12, S.-D.
Money and Banking.* iii, 11, Ja.-Mar.
Public Finance.* iii, 10, Ap.-Jun.
Practical Economic Questions.* iii, 12, S.-D.
Economic Theory (adv.) iii, 11, Ja.-Mar.

George G. Wilson, Prof. of Social and Pol. Science.
A.B., Brown, ’86, A.M., and Ph.D., ’89;
Assoc. Prof. of Social and Pol. Science, ’91-5.

Princ. of Sociol.* iii, 12, S.-D.
Social Conditions and Probs.* iii, 21, Ja.-Jun.
Current Social Theory and Practice. i, 33.
Sociology. Seminary. Fort.

James Q. Dealey, Asst. Prof. of Social and Pol. Science.
A.B. Brown, ’90, A.M., ’92, and Ph.D., ’95.

Devel. of Social Theory. iii, 12, S.-D.
Social Philos. iii, 11, Ja.-Mar.
[Segregation of Population. iii, 10, Ap.-Jun.]

Alpheus S. Packard, Prof. of Zool. and Geol.
Ph.D., Bowdoin;
Libr. and Custodian, Boston Soc. Nat. Hist., ’65; Lect., Mass. Agricult. Col. ’69-’77; Maine Agricult. Col., ’71; Bowdoin, ‘73-6.

Anthropology.* iii, 10, Ap.-Jun.

BRYN MAWR.

3 Graduate Students, 1897-8.
1 Fel. $525 in Hist. of Political Science.

Lindley M. Keasbey, Assoc. Prof. of Pol. Sci.
A.B., Harv., ’88; Ph.D., Columbia, ’90;
Asst. in Econ., Columbia, and Lect. on Pol. Sci., Barnard, ’92; R.P.D., Strassburg, ’92; Prof. of Hist., Econ., and Pol. Sci., State Univ. of Col., ’92-4.

Economic Institutions. i, 30.
Am. Primitive Society. i, 30.
Am. Commerce. i, 30.
Descriptive Sociology.* iii, 30.
Theoretical Sociology.* ii, 30.

CALIFORNIA.

1 Graduate Student, 1897-8.

Bernard Moses, Prof. of Hist. and Pol. Econ.
Ph.D., Heidelberg.

Economic Theory.* iv, 16, Ja.-My.
[Econ. Condition of Laborers in Eng. ii, 16, Au.-D.]

Carl C. Plehn, Assoc. Prof. of Hist. and Pol. Science.
A.B., Brown; Ph.D., Gottingen.

[Federal Expenditures, Revenues and Debts. ii, 32.]
Industrial and Commercial Hist. of U. S. ii, 32.
[Currency and Banking. ii, 32.]
Finance and Taxation.* iv. 16, Ja.-My.
Statistics. Hist., Theory, and Method, as applied to Econ. Investigation.* ii, 16, Au.-D
Local Govt. and Admin. —?

CHICAGO.

40 Graduate Students, 1897-8; and 40 in Summer Quarter, ‘97, in Political Economy;55 Graduate Students, 1897-8; and 95 in Summer Quarter, ’97, in Sociology. Pol. Econ., Club and Social Science Club fortnightly. Dept. libs. of Pol. Econ., Sociol. and Anthropol. have leading magazines and 6,000 vols. In Anthropol. Dept. of Walker Museum, coll. of 3,000 pieces on Archaeol. of Mexico,valuable colls. on Cliff and Cave Dwellings, and Japan and Aleutian Islands; also complete anthropometrical apparatus. Access to the Fieid Columbian Museum. 6 Fels. in Pol. Econ. 4 in Sociol. 1 Fel. in Anthropol.

J. Laurence Laughlin, Head Prof. of Pol. Econ.
A.B., Harv., ’73; A.M., and Ph.D., ’76;
Instr. in Pol. Econ., same, ’83-8; Prof. Pol. Econ. and Finance, Cornell, ’90-2.

Money and Banking. iv, 12, Jul.-S.
Seminar. ii, 12, O.-D.
Money. iv, 12, Ja.-Mar.
Seminar. ii, 12, Ja.-Mar.
Unsettled Problems. iv, 12, Ap.-Jun.
Seminar. ii, 12, Ap.-Jun.

Bernard Moses, Prof. of History and Political Economy, Univ. of Cal.
Ph.B., Univ. of Mich., ’70; Ph.D., Heidelberg, ‘73;
Prof. of History and Engl. Lit., Albion Col. ’75; Prof. of Hist. Univ. Cal. ’75-6; Prof. Hist. and Pol. Econ. Univ. Cal. ’76.

Practical Economics.* iv, 12, Jul.-S., and O.-D.
Advanced Course on Theory. iv, 12, Jul.-S., and O.-D.

Adolph C. Miller, Prof. of Finance.
A.B., California, ‘87 A.M., Harv., ‘88;
Instr., in Pol. Econ., Harv., ’89-’00; Lect. on Pol. Econ., California, ’90-1, and Asst. Prof.-elect of Hist. and Pol. Sci., same, ’91; Assoc. Prof. Pol. Econ. and Finance, Cornell, ’91-2; Assoc. Prof. Pol. Econ., Chicago, ’92-3.

[Public Finance. iv, 12, O.-D.]
[Economic and Social Hist. iv, 24, Ja.-Jun.]
Public Finance.* iv, 12, Ja.-Mar.
Financial Hist.* U. S. iv, 12, Ap.-Jun.
[Pol. Econ (adv).* iv, 12, Ap.-Jun.]
[Taxation. iv, 12, Ja.-Mar.]
Seminar in Finance. ii, 12, Ja.-Mar.

William Hill, Asst. Prof. of Pol. Econ.
A.B., Kansas, ’90; A.B., Harv., ’91, and A.M., ’92;
Fellow, Harv., ‘91-3; Instr. Pol. Econ., same, ’93; Tutor Pol. Econ., Chicago, ’93-4; Instr., same, ’94-7.

Tariff Hist.* iv, 12, Ja.-Mar.
Railway Transportation.* iv, 12, O.-D.
Oral Debates.* ii, 24, O.-Mar. (With Messrs. Damon and Lovett.)
Comparative Railway Legislation.* iv, 12, Ja.-Mar.
Banking.* iv, 12, Ap.-Jun.
Money and Banking. iv, 12, O.-D.

Thorstein B. Veblen, Instr. in Pol. Econ.
A.B., Carleton, ‘80; Ph.D., Yale, ‘84;
Fellow in Economics and Finance, Cornell, ’91-2; Fellow, Chicago, ’92-3; Reader in Pol. Econ., same, ’93-4; Tutor, same, ’94-6.

Hist. of Pol. Econ.* iv, 12, O.-D.
Scope and Method of Pol. Econ.* iv, 12, Ja.-Mar.
Socialism. iv, 24, Ja.-Jun.
American Agriculture. iv, 12, Ap.-Jun.
Economic Factors of Civilization. iv, 12, Ap.-Jun.

Henry Rand Hatfield, Instr. in Pol. Econ.
A.B., Northwestern, ’92; Ph.D., Chicago, ’97;
Prof. of Pol. Econ. Washington Univ., ’95-7.

Railway Accounts, Exchanges, etc.* iv, 12, O.-D.
Processes of Leading Industries. iv, 12, Ja.-Mar.
Coöperation.* iv, 12, Ap.-Jun.

A.W. Small, Head Prof. of Sociol.
A.B., Colby, ’76, and A.M.’79; Ph.D., Johns Hopkins, ’89;
Prof. Hist. and Pol. Econ., Colby, ’81-8; Reader in Hist., Johns Hopkins, ’88-9; Pres., Colby, ’89-’92.

Social Teleology. iv, 12, Ja.-Mar.
Sociol. Methodology. viii, 6, Jul.-Au., and iv, 12, O.-D.
[Philos. of Soc. iv. 12, O.-D. State and Govt., Ja.-Mar. Socialism, Ap.-Jun. Social Functions U.S. Govt. iv, 6, Jul.-Au. Contemp. Soc, Jul.-Au.]
[Sem. Probs. in Social Teleology. ii, 36, O.-Jun.]
Social Dynamics. iv, 12, Ap.-Jun.
[Historical Sociology. iv, 12, Ja.- Mar.]
[Outlines of Constructive Social Philos. Philos. of Society. iv, 12, O.-D. The Social Problem. iv, 12, Ja.-Mar. Philos. of State and Govt. iv, 12, Ap.-S.]
[Seminar. Problems of Social Dynamics. ii, 36, O.-Jun.]
Seminar. Problems in Methodology and Classification. ii, 36, O.-Jun.
[Am. Experience with State Control of Social Action. iv, Ja.-Mar.]
Controlling Ideas of Modern Society. iv, 12. Ap.-Jun., and iv, 6, Jul.-Au.
[Some Pending Problems in Sociology. iv, 6, Jul.-Au.]
[The Sociological Method of Stating the Social Problem and of Arranging Evidence, Applied to a Selected Hist. Period. iv, 6, Jul.-Au.]
[Comparative Study of Social Forces in Am. and French Democracy. iv, 6, O.-D.]

C. R. Henderson, Assoc. Prof. of Sociol.
A.B., Old Univ. of Chicago, ’70, and A.M., ‘73; D.B. Baptist Union Theol. Sem., ’73; D.D., same, ’83;
Assist. Prof. Sociol., Chicago, ’92-4.

Methods of Social Amelioration. Sem. ii, 36, O.-Jun.
[The Domestic Inst. iv, 12, O.-D.]
Associations for Sociability and Culture. iv, 12, O.-D.
[Social Reform. iv, 12, Ja.-Mar.]
[Beneficent Forces of Cities. iv, 12, Ja.-Mar.]
Social Inst. of Organized Christianity. iv, 12, O.-D.
Social Treatment of Crime. iv, 6, Au.-S.
[Bibl. and Eccles. Social Theories. iv, 12, Ja.-Mar.]
[Field Work in Local Institutions of Charity and Correction. iv, 12, Ap.-Jun.]
The Family.* iv, 12, O.-D.
The Labor Movement.* iv, 12, Ja.-Mar.
Amelioration of Rural Life. iv, 6, Jul.-Au.
Modern Cities. iv, 12, Ja.-Mar.
Contemporary Charities. iv, 12, Ap.-Jun.
Philanthropy. iv, 12, Ap.-Jun.

Marion Talbot, Assoc. Prof. of Sanitary Science.
A.B., Boston Univ.’80, and A.M., ’82; B.S., Mass. Inst. of Technology, ’88;
Instr. Domestic Science, Wellesley, ’90-2.

General Hygiene.* iv, 12, Ap.-Jun.
Seminar. Sanitary Science.* iv, 36, O.-Jun.
House Sanitation.* iv, 12, O.-D.
Economy of Living. iv, 12, Ap.-Jun.
Sanitary Aspects of Water, Food, and Clothing. iv, 12, Ja.-Mar.

Charles Zueblin, Assoc. Prof. of Sociol.
Ph.B., Northwestern, ’87; D.B., Yale, ’89.

Social Philos. of Eng. People in the Victorian Era. iv, 12, Ap.-Jun. and Jul.-S.
Structure of Eng. Society.* iv, 12, Ap.-Jun. and Jul.-S.

G. E. Vincent, Asst. Prof. of Sociology.
A.B., Yale, ’85; Ph.D., Chicago, ’96;
Vice-Principal, Chautauqua System, ‘88-pr; Fellow in Sociology, Chicago, ’92-4.

Course in Statistics.
[Province of Sociol. iv, 12, O.-D.]
[Social Structure. iv, 12, Ja.-Mar.]
The Social Mind and Education. iv, 12, Ap.-Jun.
Contemporary Society in the U. S.* iv, 12, O.-D.
Am. City Life.* iv, 12, Ja.-Mar.
Introd. to Study of Society.* iv, 12, Ap.-Jun.
Introd. to Sociology,* iv, 12, O.-D.
The Theory of the Social Mind. iv, 12, Ja.-Mar.

W. I. Thomas, Asst. Prof. of Sociol.

A.B., Univ. of Tenn., ’84; A.M., ’85; Ph.D., Chicago, ’96;
Prof. of English, Oberlin, ’89—’93; Fellow in Sociol., Chicago, ’93-4; Instr. in Folk-psychology, Chicago, ’95-6.

Folk-psychol. iv, 12, O.-D., and Ap.-Jun.
[Primitive Social Control. iv, 12, O.-D. Seminar.]
[Art and Amusement in Folk-psychol. iv, 12, Ja.-Mar. Sex. Ap.-Jun.]
[Analogy and Suggestion in Folk-psychol. iv, 12, Ja.-Mar. The Child. Ap.-Jun.]
[Intro. to Study of Soc.* iv, 12, Jul.-S.]
Ethnological Æsthetic. iv, 12, Ap.-Jun.
The Primitive Social Mind. iv, 12, Ja.-Mar.
Sex in Folk-psychology. iv, 12, Ja.-Mar.
[Hungarian and South Slavonian Ethnology and Folk-psychol. iv, 12, O.-D.]
Primitive Social Control. iv, 12, O.-D.

Lester F. Ward, Professorial Lecturer in Sociol., Smithsonian Institution.
A.B., Columbia, ‘69; LL.B., same, ‘71; A.M., ’73; LL.D., ’97.

Dynamic Sociology. iv, 4, Au.-S.
Social Mechanics. vi, 4, Au.-S.

Henry W. Thurston, Instr. in Econ. and Civics, Hyde Park High School.
A.B., Dartmouth, ’86.

A Method of Applying Sociological Pedagogy to the Teaching of Economics in Secondary Schools. iv, 6, Jul.-Au.

Frederick Starr, Assoc. Prof. of Anthropology.
S.B., Lafayette, ‘82; S.M. and Ph.D., ’85;
Prof. Biological Sciences, Coe Col., ‘84-8; in charge Dept. Ethnology, Am. Mus. of Natural Hist., ‘89-’91.

Lab. Work in Anthropology. iv, 36, O.-Jun.
Physical Anthropol. Lab. iv, 36, O.-Jun.
[Physical Anthropol. iv, 12, O.-D.]
Mexico Archaeology, Ethnology. iv, 12, Jul.-S.
General Anthropol.* iv, 12, Ap.-Jun.
Ethnology American Race. iv, 12, Jul.-S.
Prehistoric Archaeology. American. iv, 12, O.-D.
[Field Work in Anthropol. Mexico. Jul.-S.]
Prehistoric Archaeol. European. iv, 12, O.-D.
General Ethnology.* v, 12, Jul.-S.
General Anthropology.* iv, 6, Jul.-Au.
Ethnology American Race. iv, 6, O.-N.
Mexico. Archaeology, Ethnology. iv, 6, Au.-S.
[Comparative Technology. iv, 36, O.-Jun.]

Merton Leland Miller, Lecturer in Anthropology.

A.B., Colby Univ., ’90; Ph.D., Chicago. ’97.
Instr. Eureka Acad., ’92; Grad. Stud. at Chicago, ’92-7; Asst. In Anthropol. Mus., ‘94-7;

The Peoples of Europe. iv, 6. O.-N.
Physical Anthropology. Laboratory Work. iv, 36, O.-Jun.

J. H. Breasted, Asst. Prof. of Egyptology and Semitic Langs.; Asst. Dir. of Haskell Museum.
A.B., Northwestern, ’88;A.M., Yale, ‘92; A.M. and Ph.D., Berlin, ’94;
non-res. Fellow, Chicago, ’92-4; Asst. in Egyptology.

Chicago-Egyptian Life and Antiquities. iv, 12, Ap.-Jun.

C. H. Hastings.
A.B., Bowdoin, ’91.

Bibliography of Sociology. iv, 6, Au.-S.

COLUMBIA.

63 Graduate Students, 1897-8.
[All graduate courses under 10 open to Barnard Graduate Students.]

Richmond Mayo-Smith, Prof. of Pol. Econ. and Social Science.
Ph.D. (hon.), Amherst.

Pol. Econ. (el).* iii, 14, F.-Jun. (With Mr. Day.)
Pract. Pol. Econ:
(a) Problems of Mod. Industry. iii, 16, O.-F.
(b) Problems of Exchange. iii, 14, F.-Jun.
(c) Problems of Distribution. iii, 14, F.-Jun
(d) Readings in Marshall’s “Prin. of Econ.” i, 30.
Statistics and Sociology. ii, 16, O.-F.
Statistics and Economics. ii, 14, F.- Jun.
Theory, Technique, and Hist. of Statis. Sci. ii, 14, F.-Jun.
Seminar. Statistics. i, 30.
Seminar. Pract. Econ. i, 30.

Edwin R. A. Seligman, Prof. of Pol. Econ. and Finance.
LL.B., Ph.D., Columbia, ’84.

Econ. Hist. of Europe and America. ii, 16, O.-F. (With Mr. Day.)
Sci. of Finance. ii, 30.
Fiscal and Indus. Hist. of U. S. ii, 16, O.-F.
Hist. of Economics. ii, 30.
Railroad Problems. ii, 14, F.-Jun.
[Hist. of Pol. Econ. ii, 30.]
Seminar. Pol. Econ. and Finance. i, 30.

John B. Clark, Prof. of Pol. Econ.
Ph.D., Amherst, ’75;
Prof. Hist. and Pol. Econ., Carleton, ’77-’82; Prof. of same, Smith, ’82-’93; Lect. Johns Hopkins, ‘92-5; Prof. Pol. Econ., Amherst, ’92-5.

Econ. Theory. Statics. ii, 16, O.-F.
Dynamics. ii, 14, F.-Jun.
Communistic and Socialistic Theories. ii, 16, O.-F.
Theories of Social Reform. ii, 14. F.-Jun.
Seminar. Pol. Econ. i, 30.

Franklin H. Giddings, Prof. of Sociology.
A.M., Union.

General Sociology. ii, 16, O.-F.
Progress and Democracy. ii, 14, F.-Jun.
Pauperism, Poor Laws, and Charities. ii, 16, O.-F.
Crime and Penology ii, 14, F.-Jun.
Seminar. Sociology. i, 30.

William Z. Ripley, Lect. on Anthropology.
B.S., Mass. Inst. of Tech , ’90; A.M., Columbia, ’92; Ph.D., Columbia, ’93;
Assoc. Prof. Pol. Econ. and Sociol., Mass. Inst. of Tech., 94-7; Lect., Hartford School of Sociology, ’95-6.

Physical Geog. Anthropol. and Ethnology. ii, 16, O.-F.

Livingston Farrand, Instr. in Physiolog. Psychol.
A.M., Princeton, ’91; M.D., Columbia, ’91.

General Anthropology. ii, 14, F.-Jun.
Anthropology. Primitive Culture. ii, 30.

Franz Boaz, Inst. in Anthropol.
Ph.D., Kiehl, ’81.

Phys. Anthropol. ii, 30.
Applica. of Statistical Methods to Biolog. Problems (adv). iii, 30.
North Am. Langs. Seminar. ii, 30.

George J. Bayles.
Ph.D., Columbia, ’95.

Civil Aspects of Ecclesiastical Organizations. i, 30.

CORNELL.
14 Graduate Students, 1897-8.

J. W. Jenks, Prof. of Pol. Econ. and Civil and Social Instit.
A.B., Michigan, ’78, and A.M., ’79; Ph.D., Halle, ’85;
Prof. Pol. Econ., Knox, and Indiana State Univ.; Prof. of Polit., Municipal, and Social Institutions, ’91-2.

Economic Legislation.* ii, 32.
Economics and Politics.*

Charles H. Hull, Asst. Prof. of Pol. Econ.
Ph.B.. Cornell, ’86; Ph.B., Halle, ’92;
Instr. in Pol. and Sociol. Institutions, Cornell. ’92-3.

Money, Credit, and Banking*. iii, 32.
Railroad Transportation.* iii, 9, Ap.- Jun.
Finance, Taxation, Admin.* Public Debts. ii, 32.
Recent Econ. Theory. Am., Eng., Continental.* ii, 32.
Earlier Econ. Theory (Prior to J. S. Mill).* ii, 32.
Economic and Commercial Geography. ii, 23, O.-Mar.
Seminary. ii. 32.

Chas. J. Bullock, Instr. in Economics.
A.B., Boston, ’89; Ph.D., Wisconsin, ’95.

Industrial Hist., Eng. and Am.* ii, 32.
Internat. Trade and Tariff Hist. U. S.* ii, 32.
Labor Question.* ii, 12, S.-D.
Hist. Trades Unions.* ii, ll, Ja.-Mar.
Socialism.* ii, 9, Ap.-Jun.

Walter F. Willcox, Prof. of Social Science and Statistics.
A.B., Amherst; Ph.D., Columbia;
Instr. in Philos., Cornell, ’91-2; Asst. Prof. Social Science and Pol. Econ., ’92-4.

Social Science (el).* ii, 32.
Social Statistics.* ii, 32.
[Theoretical Social Science (adv).* ii, 32.]
Practical Social Science (adv).* ii, 32.
[Anthropology.* ii, 32.]
Philos. and Pol. Econ.* ii, 32.
Seminary. ii, 32.

Wm. E. Baldwin, Pres. Long Island R. R.
A.B., Harvard, ’85.

Pract. Railroad Management. Lects. i-ii, Ja.-Mar.

Charlton T. Lewis, Counsel Mutual Life Ins. Co.

Principles of Insurance. Lects. i, 15,
—?

B. F. Fernow, Director of Col. of Forestry.
Grad. State Col. of Forestry, Münden, Prussia;
Chief of Dir. of Forestry, U. S. Dept. of Agric, ’86-’92, LL.D., Wisconsin.

Forestry: Econ and Pol. Aspects. ii, 21, Ja.-Jun.

HARVARD.
21 Graduate Students, 1897-8.
(Courses marked [R] are open to Radcliffe Graduate Students.)

Fel. in Pol. Econ., $450; in Soc. Sci., $500; in Archaeol. and Ethnol., $500 and $1,050, and Schol. of $200. Prize of $150 for Essay in Pol. Sci., two of $100 each for essays on social questions. Peabody Mus., Am. Archaeol., and Ethnol., with Lib., is intended for research.

Charles F. Dunbar, Prof. of Pol. Econ.
A.B., Harv., ’51; LL.D., same, ’91.

Financial Legislation of U. S.* ii, 15, F.-Jun.
[Financial Admin. and Pub. Debts. iii, 15, F.-Jun.]
Money and Banking. v, 15, O.-Ja.
Seminary. Economics. i, 30. (With Prof. Taussig and Asst. Prof. Cummings.)

Frank W. Taussig, Prof. of Pol. Econ.
A.B., Harv., ’79; Ph.D., ’83, and LL.B., ’86.

Econ. Theory in the 19th Cent.* iii, 30. (With Prof. MacVane.)
[Theory and Methods of Taxation. Special ref. to U. S. Local Taxation.* ii-iii, 15, O.-Ja.]
Scope and Method of Economic Theory and Investigation.* ii-iii, 30.

William J. Ashley, Prof. of Econ. Hist.
A.B., Oxford, ’81, and A.M., ’85; Fel., Lincoln Col., and Lect. on Hist., Lincoln and Corpus Christi Col., Oxford, ’85-8; Prof. Pol. Econ. and Const. Hist., Toronto, ’88-, ‘92.

[Mediaeval Economic Hist. of Europe.* ii-iii, 30.]
[Hist. and Lit. of Economics to close of 18th Cent.* ii-iii, 30.]

Edward Cummings, Asst. Prof. of Sociology.
A.B., Harv., ’83; A.M., same, ’85.

Princ. of Sociology. Devel. of Modern State.* ii-iii, 30.
Socialism and Communism.* ii-iii, 30.
Labor Question in Europe and U. S.* iii, 30. (With Dr. John Cummings.)

John Cummings, Instr. in Pol. Econ.
A.B., Harv., 91; Ph.D., Chicago, ’94.

Theory and Methods of Statistics*. iii, 30.

H. R. Meyer, Instr. in Pol. Econ.
A.B., Harv. ’92; A.M., ’94.

Public Works, Railways, etc., under Corporate and Pub. Management.* iii, 15, F.-Jun.

G. S. Callender, Instr. in Pol. Econ.
A.B., Oberlin Col., ’91; A.B., Harv., ’93; A.M., ’94; Ph.D., ’97.

Economic Hist. of the U. S.*
Industrial Revolution of the 18th and 19th Cents.* ii-iii, 15, F.-Jun.
Western Civilization in its Economic Aspects.* ii-iii, 15, F.-Jun.

Francis G. Peabody, Prof. of Christian Morals.
A.B., Harv., ’69; A.M. and S.T.B., ’72; S.T.D., Yale, ‘87.

[Ethics of Social Questions.* iii, 30. (With Dr. Rand.)]
[Sociolog. Sem. Christian Doct. of the Social Order. ii, 30.]

Frederick W. Putnam, Prof, of Archaeology and Ethnology, and Curator of Peabody Museum.
A.M. (hon,), Williams, ’68; S.D.(hon.), Univ. of Pa., ’94;
Curator Dept. Anthropol., Am. Mus., Central Park, N. Y.

Primitive Religion. iii, 30. (With Mr. Dixon.)

[R] Am. Archaeol. and Ethnol. Research.

F. Russell, Asst. in Anthropology.
S.B., Univ., of Iowa, ’92, and S.M., ’95; Asst., same, ’94-5.

Gen. Anthropology, Archaeology, Ethnology.* iii, 30. (With an Asst.)
[R] Somatology. iii, 15, F.-Jun.
[R] Somatology (adv). Research—?

JOHNS HOPKINS.
9 Graduate Students, 1897-8.

Sidney Sherwood, Assoc. Prof. of Pol. Econ.
Ph.D., Johns Hopkins, ’91.

Legal Aspects of Economics. ii, 15, O.-F.
Corporations and Economics. ii, 15, F.-My.
Econ. Conference. ii, 30.
Economic Theory. ii. 30.
Economics (adv).* ii, 15, O.-F.

Jacob H. Hollander, Assoc. in Economics.
Ph.D., Johns Hopkins, ’94.

Development of Economic Theories. ii, 15, O.-F.
Financial Hist. of U. S. ii, 15, F.-My.
Economics (adv)*. ii, 15, F.-My.
Current Congressional Happenings.* i, 30.

LELAND STANFORD, JR.
2 Graduate Students, 1897-8.

Hopkins Railway Library, about 10,000 vols.; Transportation, Railway History, Economics, and Law.

Amos G. Warner, Prof, of Applied Economics.
B.L., Nebraska, ’85; Ph.D., Johns Hopkins, ’88;
Prof,of Pol. Econ., Nebraska, ’87-’91.

[Corporate Industry.* iii, 15, S.-D.]
[Personal Economics.* ii, 15, S.-D.]
Seminary. (With Ross and Durand.) ii, 32.

Edward A. Ross, Prof. of Sociology.
A.B., Coe Col., ’86; Ph.D., Johns Hopkins, ’91;
Prof. of Econ. and Social Science, Indiana, ’91-2; Assoc. Prof. of Pol. Econ, and Finance, Cornell, ’92-3.

[Economic Theory (adv). ii, 15, S.- D.]
[Sociology.* iii, 32.]

Mary R. Smith, Asst. Prof. of Social Sci.
Ph.B., Cornell, ’80, and M.S., ’82; Ph.D., Stanford, ‘96;
Instr. in Hist. and Econ., Wellesley, ’86- ’90.

[Statistics and Sociology.* iii, 17, Ja.-My.]

Edward D. Durand, Asst. Prof. of Finance and Administration.
A.B., Oberlin, ’93; Ph.D., Cornell, ’96;
Legislative Librarian, N. Y. State Library, ’96-7; Student, Berlin, ’97.

Practical Economic Questions.* iii, 17, Ja.-My.

MICHIGAN.
10 Graduate Students, 1897-8.

Henry C. Adams, Prof, of Pol. Econ. and Finance.
A.B., Iowa Col., ’74; Ph.D., Johns Hopkins, ’78;
Lect., Johns Hopkins, and Cornell; Statistician to Interstate Commerce Commission: Special Expert Agent on Transportation, 11th Cens.; Director of Economics, School of Applied Ethics.

[Devel. and Significance of Eng. Pol. Econ. iii, 6, O.-N.]
Devel. and Significance of Hist. School of Econ. iii, 6, O.-N.
[Devel. and Significance of Austrian School of Econ. iii, 6, O.-N.]
Relations of the State to Industrial Action. iii, 6, F.-Mar.
[Labor Organizations and Corporations as Factors in Industrial Organization. iii, 6, F.-Mar.]
History of Industrial Society.* ii, 17, O.-F.
Transportation Problems. iii, 17, F.- Jun.
Sem. Economics. ii, 17, O.-F.

F. M. Taylor, Junior Prof. of Pol. Econ. and Finance.
A.B., Northwestern, ’76, and A.M., ‘79; Ph.D., Mich., ’88;
Prof. of Hist. and Politics, Albion, ’79-’92.

Hist. and Theory of Money and Banking.* ii, 17. O.-F.
Hist. of Pol. Econ. ii, 17, F.-Jun.
Principles of Finance.* ii, 17, F.-Jun.
Sem. Economics. ii, 17, F.-Jun.
Socialism.* ii, 17; F.-Jun.
[The Value of Money, Theory, and Statistics. iii, 6, O.-N.]
[The Standard of Value. iii, 6, N.-D.]
Paper Money. iii, 6, O.-N.
[Social Philos., with spec. ref. to Econ. Probs. iii, 6, F.-Mar.]
[Credit as a factor in Production. iii, 6, Mar.-Ap.]
The Agricult. Problem. iii, 6, Mar.-Ap.

C. H. Cooley, Instr. in Sociology.
A.B., Mich., ’87; Ph.D., same, ’94.

Principles of Sociology.* iii, 17, O.-F. Problems, F.-Jun.
Sociology (adv).* ii, 17, F.-Jun.
Histor. Devel. of Sociolog. Thought. iii, 6, Ja.-F.
Nature and Process of Social Change. iii, 6, My.-Jun.
[Aims and Methods in Study of Society. iii, 6, Ja.-F.]
Social Psychology. iii, 6, My.-Jun.
[Current Changes in Social Organization of U. S. iii, 6, My.-Jun.]
[Theory of Population. iii, 6, Ja.-F.]
Theory of Statistics.* i, 34.
Special Studies in Statistics.* ii, 17, F.-Jun.

MINNESOTA.
26 Graduate Students, 1897-8.

William W. Folwell, Prof. of Pol. Science.
A.B.,Hobart, ’57; A.M., ’60; LL.D., ’80;
Prof. Math., Hobart, ’59-’61; Prof. Math. and Engineering, Kenyon Col., ‘69; Pres., Univ. of Minn., ’69-’84.

Pol. Sci. Sem. i, 36.
Individual Research. ii, 36.

Frank L. McVey, Instr. in Economics.
A.B., Ohio Wesleyan, ‘93; Ph.D., Yale, ‘95;
Instr. in Hist. Teachers’ College, N. Y., ’96.

Comparative Econ. Doctrine. ii, 36.
Economics.* iv, 13, S.-N.
Modern Industrialism.* iv, 12, Mar.-Jun.

Samuel G. Smith, Lecturer on Sociology.
A.B., Cornell Col., ’72; A.M.. and Ph.D., Syracuse, ’84; D.D., Upper Iowa Univ., ’86.

Social Sci.* iii, 12, Mar.-Jun.
Indiv. Research. i, 36.

MISSOURI.
3 Graduate Students, 1897-8.

F. C. Hicks, Prof, of Hist. and of Pol. Econ.
A.B., Univ. of Mich., ’86; Ph.D., same, ’90.

Economic History.* iii, 36.
Problems in Economics.* iii, 36.
Modern Financial Systems.* ii, 36.
Seminar. ii, 36

NEW YORK.
21 Graduate Students, 1897-8.

Frank M. Colby, Prof. of Economics.
A.B., Columbia, ’88, and A.M., ’89.

Practical Economics. ii, 24.
Economic Theory. ii, 24.
Hist. of Indust. Devel. ii, 30.

I. F. Russell, Prof. of Sociology, and of Law in N. Y. U. Law School.

A.M., N. Y. U., ‘78; LL.M., Yale, ‘79; D.C.L., Yale, ‘80; LL.D., Dickinson, ‘93;
Prof. Econ., and Const. Law, N. Y. U., ’80-’93.

[Intro. to Sociology. ii, 30.]
Principles of Sociology. ii, 30.

NORTHWESTERN.
6 Graduate Students, 1897-8.

John H. Gray, Prof. of Political and Social Science.
A.B., Harv., ‘87; Ph.D., Halle, ‘92;
Instr. in Econ., Harv., ’87-9.

Administration. ii, 36.
[Finance.* ii, 36.]
Seminary.* ii, 36.

William Caldwell, Prof. of Moral and Social Philosophy.
A.M., Pass Degree, Edinburgh, ’84; A.M., and Honors of First Class, same, ’86;
Asst. Prof. of Philos., same, ’88-’90; Instr., Cornell, ’90-1; Instr., Chicago, ’92-4; Fellow, Edinburgh, ’86-’93, and Sc.D., ’93.

Seminary. Ethical Philos.* ii, 36.
Seminary. Sociology.* iii, 36.

PENNSYLVANIA.
12 Graduate Students, 1897-8.

Colwell Lib. of Pol. Econ., 7,000 vols. Carey Lib., valuable for economic history, including 3,000 Eng. pams. 1 Fel. $500 + tui; 1 Schol. in Hist. and Economics, $100 + tui.

Simon N. Patten, Prof. of Pol. Econ.
Ph.D., Halle.

Hist. of Pol. Econ. ii, 15, O.-F.
Recent Devel. of Pol. Econ. ii, 15, F.-My.
Relat. of Eng. Philos. to Econ. in 18^th Cent. ii, 15, O.-F.
[Scope and Method of Pol. Econ. ii, 15, F.-My.]
[Pract. Applications of Econ. Theory. ii, 12, O.-F.]
Problems of Sociol. ii, 15, F.-My.
Special Topics. ii, 30.

Henry R. Seager, Asst. Prof. of Pol. Econ.
Ph.B., Mich., ‘90; Ph.D.. Univ. of Pa., ’94;
Instr. in Pol. Econ., same, ’94-6.

Econ. Conference. ii, 30.
Adv. Reading in Ger. and Fr. Economics. ii, 30.
Eng. Indust. Hist. and Devel. of Econ. Theory, 1750-1870. ii, 15, F.-My.

Emory R. Johnson, Asst. Prof. of Transportation and Commerce.
B.L., Univ. of Wis., ‘88; M.L., same, ’91; Fel. in Econ., Univ. of Pa., ’92-3; Ph.D., same, ‘93;
Lect. on Transporta., same, ’93-4; Instr., same, ’94-6; Instr. in Econ., Haverford, ’93-6.

Theory of Transportation. i, 30.
[Am. Railway Transportation. ii, 30. ]
Transportation Systems of the United Kingdom and Germany. i, 30.
Hist. of Commerce since 1500. 1, 30.

Roland P. Falkner, Assoc. Prof. of Statistics.
Ph.B., Univ. of Pa.. ’85; Ph.D., Halle, ‘88;
Instr. in Statistics, ’88-’91.

Intro. to Statistics. ii, 15, O.-F.
Statistics of Econ. Problems. ii, 15, F.-My.
Hist. and Theory of Statistics. ii, 15, O.-F.
Statistical Organization. ii, 15, F.-My.

Samuel McC. Lindsay, Asst. Prof. of Sociol.
Ph.B., Univ. of Pa., ’89; Ph.D., Halle, ’92.

Theory of Sociol. (2 yr. course). ii, 30.
Social-Debtor Classes. ii, 30.
Sociol. Field Work. ii, 30.
Seminary. ii, 30.

PRINCETON.
5 Graduate Students, 1887-8.
1 Fellowship, $500.

Winthrop M. Daniels, Prof. of Pol. Econ.
A.B., Princeton, ’88, and A.M., ’90;
Instr. Wesleyan, ’91-2.

Public Finance.* ii, 18, S.-Ja.
Hist. of Pol. Econ.* ii, 18, F.-My.

W. A. Wyckoff, Lect. on Sociology.
A.B., Princeton, ’88, and A.M., ’91.

Sociology.* ii, 18, F.-My.

RADCLIFFE.
4 Graduate Students, 1897-8.
[See Harvard Courses marked “[R]”.]

Seminary in Econ. (With Prof. Taussig and Asst. Prof. Cummings.)

W. J. Ashley.

[Med. Econ. Hist. of Europe.* iii,30.]

Dr. Cunningham, Trinity Col., Cam. Eng.

Industrial Revolution in Eng. in 18^th and 19^th Cents.* iii, 15, F.-Jun.

G. S. Callender.

Econ. Hist. of U. S.*

Edward Cummings.

Princ. of Sociol.* iii, 30.

Edward Cummings and John Cummings.

Soc. and Econ. Conditions of Workingmen.* iii, 30.

John Cummings.

Statistics, Theory, Methods, Practice.*

(Of last three courses, two only will be given in 1898-9.)

F. Russell.

Gen. Anthropol.* —?

VANDERBILT.
2 Graduate Students, 1897-8.

Frederick W. Moore, Adj. Prof. of Hist. and Econ.
A.B., Yale, ’86, and Ph.D., ’90

Chas. F. Emerick, Asst. in Economics.
A.B., Wittenberg, ’89; Ph.M., Mich., ’95; Ph.D., Columbia, ’97.

Theory of Pol. Econ. Growth of Corporate Industry. iii, 32.
A Study of Socialism.* iii, 16.

WELLESLEY.
o Graduate Students, 1897-8.

Katharine Coman, Prof. of Hist. and Pol. Econ.
Ph.B., Mich., ’80.

Indust. Hist. of U. S.* iii, 17, F.-Jun.
[Indust. Hist. of Eng.* iii, 17, S.-Ja.]
Statistical Study of Problems in the U.S. iii, 17, S.-Ja.

Emily Greene Balch, Instr. in Economics.
A.B., Bryn Mawr.

Socialism.* iii, 17, F.-Jun.
Evolution and Present Conditions of Wage Labor.* iii, 17, S.-Ja.
Social Economics.* iii, 17, S.-Ja.; also F.-Jun.

WESTERN RESERVE.
4 Graduate Students, 1897-8.

S. F. Weston, Assoc. Prof. of Pol. and Soc. Sci.
A.B., Antioch, ’79, and A.M., ’85; Asst. in Economics, Columbia, ’92-4.

Social Theories.* iii, 17, F.-Jun.
Pauperism and Charities.* iii, 17, F.-Jun.
Money and Banking.* iii, 17, F.-Jun.
U.S. Tariff and Revenue System. iii, 17, F.-Jun.
Economic History of England.* iii, 16, S.-Ja.
Economic History of United States.* iii, 16, S.-Ja.
The State.* iii, 16, S.-Ja.
Civil Government.* iii, 16, S.-Ja.
Social Problems.* iii, 17, F.-Jun.
Economic Theories. iii, 36.

WISCONSIN.
24 Graduate Students, 1897-8.

Location at State capital gives special facilities for studying the State’s activities and methods of administration. Field work in charitable and correctional institutions in Madison and Chicago. Opportunity for continuous practical work during summer months.

Richard T. Ely, Prof. of Pol. Econ. and Director of the Sch. of Econ., Pol. Science and Hist.
A.B., Columbia, ’76; Ph.D., Heidelberg, ‘79; LL.D., Hobart, ’92;
Chair of Pol. Econ., Johns Hopkins, ’81-’92.

Distribution of Wealth. iii, 72, S.-Jun. (This course is to run through ’98- ’99, and ’99-1900.)
Public Finance. iii, 18, S.-F.
Taxation and Am. Public Finance. iii, 18, F.-Jun.
[Social Ethics. ii, 18, S.-F.]
[Socialism. ii, 18, S.-F.
Economic Seminary. Recent Devel. of Econ. Theory. ii, 36. (With Prof. Scott and Dr. Jones.)

William A. Scott, Prof. of Econ. Hist. and Theory.
A.B., Rochester, ‘86; Ph.D., Johns Hopkins, ’92.
Prof. Hist. and Pol. Econ., Univ. So. Dak., ’87-’90; Instr. in Hist., Johns Hopkins, ’91-2;

[Theories of Value. ii, 18, S.-F.]
Theories of Rent, Wages, Profits, and Interest. ii, 36, S.-F.
[Theories of Production and Consumption. ii, 18, F.-Jun.]
Classical Economists. iii, 18, F.-Jun.

Edward D. Jones, Instr. in Econ. and Statistics.
B.S., Ohio Wesleyan Univ., ’92; Halle and Berlin, ’93-4; Ph.D., Univ. of Wisconsin, ’95.

Economic Geography. ii, 18, S.-F.
Statistics. iii, 18, F.-Jun.
Charity and Crime. iii, 18, S.-F.

Balthasar H. Meyer, Instr. in Sociol. and Transportation.
B.L., Univ. of Wis., ’94; Berlin, ’94-5; Fel. Univ. of Wis., ’95-7; Ph.D., Univ. of Wis., ’97.

Elements of Sociology.* iii, 18, S.-F.
Psychological Sociologists.* ii, 18, S.-F.
Modern Sociological Thought. iii, 18, F.-Jun.
Transportation. ii, 18, F.-Jun.

Frank C. Sharp, Asst. Prof. of Philos.
A.B., Amherst, ’87; Ph.D., Berlin, ’92.

Social Ethics. ii, 18, F.-Jun.
Readings in Ger. Social Philos. ii, 18, S.-F.

YALE.
43 Graduate Students, 1897-8.

Pol. Science Club meets fortnightly. Club Room with Library for Graduate Students.

W. G. Sumner, Prof. of Pol. and Soc. Sci.
A.B., Yale, ’63; LL.D., Tenn., ’84.

Anthropology. ii, 32.
Systematic Societology. ii, 32.
[Indust. Rev. Renaissance Period. ii,32.]
[Begin. of Indust. Organization. ii,32.]
Science of Society.* (German.) ii, 32.

H. W. Farnam, Prof. of Pol. Econ.
A.B., Yale, ’74; R.P.D., Strassburg, ’78.

[Pauperism. ii, O.-D.]
Modern Organiza. of Labor. ii, 20, Ja.-Jun.]
Princs. Pub. Finance. ii, 32.

A. T. Hadley, Prof. of Pol. Econ.
A.B., Yale, 76, and A.M., ’87.

Econ. Problems of Corporations. i, 32.
Relat. between Econ. and Ethics. ii, 32.
Railroad Transportation.* ii, 32.

A. T. Hadley and Irving Fisher.

Economics (gen. course).* iii, 32.

W. F. Blackman, Prof. of Christian Ethics.
A.B., Oberlin, ’77; D.B., Yale, ’80; Ph.D., Cornell, ’93.

Social Science. ii, 32.
Lit. of Social. ii, 12, O.-D.
Soc. Study of Family. i, 12, O.-D.
Soc. Teach. and Influence of Christianity. i, 32.

J. C. Schwab, Asst. Prof. of Pol. Science.
A.B., Yale, ’86, and A.M., ’88; Ph. D., Göttingen, ’89.

Finance. ii, 32.
U.S. Indust. Hist. ii, 32.
U.S. Financial Hist. i, 32.
Finances of Confed. States, 1861-65. i, 32.

Irving Fisher, Asst. Prof. of Pol. Econ.
A.B. Yale, ’88, and Ph.D., ’91.

Principles of Economics (adv). ii, 32.
Statistics. ii, 20, Ja.-Jun.
Vital Statistics and Life Insurance. ii, 12, O.-D.

____________________

Source: Graduate Courses 1898-99: A Handbook for Graduate Students. (6^th edition). (Chicago, University of Chicago Press, 1899), pp. 80-90.

Tags AdamsHenryC, Ashley, Balch, Bullock, Callender, ClarkJB, Colby, Coman, Cooley, CummingsEdward, CummingsJohn, Daniels, Dunbar, Ely, Emerick, Falkner, Farnam, FisherIrving, Gardner, Giddings, Gray, Hadley, Hatfield, HicksFC, Hill, Hollander, Hull, Jenks, JohnsonEmory, JonesEdward, Laughlin, Mayo-Smith, McVey, MeyerHR, Miller, Moses, Patten, Plehn, Ripley, Ross, Schwab, Scott, Seager, Seligman, Sherwood, Small, Sumner, Taussig, TaylorFM, Veblen, Warner, Weston, Willcox

POLITICAL ECONOMY GRADUATE COURSES

…The Economic Seminary

MEMBERS OF THE ECONOMIC SEMINARY 1923-1924

Graduate Students

Faculty

Seminar Presentations 1923-24

POLITICAL ECONOMY GRADUATE COURSES

…The Economic Seminary

MEMBERS OF THE ECONOMIC SEMINARY 1922-1923

Students

Faculty

Minutes of the Seminary 1923-24

Columbia President Butler Requests E.R.A. Seligman to Propose Names of Distinguished Economists for a British Chair in American History

Columbia University in the City of New York President’s Room

Copy of Seligman’s Response to Butler’s Request

THE ECONOMIC SEMINARY, 1903-1904.

Edited by Associate Professor J. H. Hollander.

Backstory

A MEMORANDUM PRESENTED TO A MEMBER OF THE HOUSE COMMITTEE ON MILITARY AFFAIRS, APRIL 26, 1932.

STATEMENT OF HON. SAMUEL B. PETTENGILL, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF INDIANA

(The letter referred to is as follows:)

The University of Chicago, Department of Economics, April 26, 1932.

(The memorandum referred to follows:)

I.

II.

III.

IV.

V.

[The Economics Conference of the Johns Hopkins University, 1892-93]

Some Notes on von Thünen. By H. L. Moore. [From a paper read before the Economic Conference, March 10,1893.]

POLITICAL ECONOMY
GRADUATE COURSES

MEMBERS OF THE ECONOMIC SEMINARY
1923-1924

Seminar Presentations
1923-24

POLITICAL ECONOMY
GRADUATE COURSES

MEMBERS OF THE ECONOMIC SEMINARY
1922-1923

Minutes of the Seminary
1923-24

Columbia University
in the City of New York
President’s Room

The University of Chicago,
Department of Economics,
April 26, 1932.

Some Notes on von Thünen. By H. L. Moore.
[From a paper read before the Economic Conference, March 10,1893.]