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Economists Harvard

Harvard. Academic record of Vervon Orval Watts, Ph.D. 1932

 

Vervon Orval Watts (1898-1993) was a faithful libertarian disciple of Harvard economics professor Thomas Nixon Carver. One of his course outlines from his time at Antioch College in Ohio has been transcribed and posted earlier.

In this post you will find the paper record of Watts’ march through the Division of History, Government and Economics that was rewarded with the award of a Ph.D. by the department of economics in 1932.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

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

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

Vervon Orval Watts, March 25, 1898, Walkerton, [Ontario] Can.

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

University of Manitoba, 1914-1918; Harvard University, 1921—
Teaching Positions: Brandon College, Jan. 1 – July 1, 1919; Gilbert Plains, high school, 1919-1921; Harvard, Assistant in Economics, 1923-24 (Asst.); 1926-27 (gr.); T + T 1927-29.

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

A.B., University of Manitoba, 1918
A.M., Harvard University, 1923.

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

History:— Greek + Roman, 1 course; European, 2 1/2 courses; English History, 2 courses; Canadian History 1/2 course.
Economics:— Courses in Theory, Economic History, Public Finance, Money + Banking, Foreign Trade + Finance.
Government:—  1 course, Logic:—  1 course.
Languages:— Greek + Latin.

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

Economics.

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

  1. Economic Theory and Its History.
    At Harvard – Ec. 11, Ec. 14; at Manitoba – course in Theory + its History. Private Reading.
  2. Public Finance.
    At Harvard, Ec. 31; at Manitoba – 1 course. Private Reading.
  3. International Trade + Tariff Policy.
    At Harvard – Ec. 9b, Ec. 39;
    At Manitoba – 1 course; Private Reading.
  4. Economics of Agriculture.
    At Harvard – Ec. 9a, Ec. 32;
    – Assistant in Ec. 9a, 1923,
    Private Reading.
  5. Sociology.
    At Harvard, Ec. 8,
    –Assistant in Ec. 8, 1923
    Private Reading.
  6. History of England since the Reign of Henry VII.
    At Harvard: Hist. 12; Auditor in Hist. S9 + Hist. 11.
    At Manitoba: 1 course
    Teaching of English History in high school; Private Reading.

VII. Special Subject for the special examination.

Sociology.

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

The Development of the Technological Concepts of Production in Anglo-American Thought.

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

I should prefer the General Examination not before Feb. 1. Middle of March or few days after. [Handwritten note: “May 27/32”]

X. Remarks

Professor Carver.

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

[signed] T. N. Carver

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

[Not to be filled out by the applicant]

Name: Vervon Orval Watts

Approved: January 11, 1924

Ability to use French certified by C. J. Bullock, May 29, 1923.

Ability to use German certified by C. J. Bullock, May 29, 1923.

Date of general examination Monday, March 31, 1924. Passed. T.N.C.

Thesis received March 28, 1932

Read by Professors Carver and Taussig

Approved May 16, 1932

Date of special examination Friday, May 27, 1932

Recommended for the Doctorate June 9, 1932

Degree conferred  June 23, 1932

Remarks.  [left blank]

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

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

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
May 29, 1923

Dear Haskins:

This is to certify that I have examined Mr. V. O. Watts and find that he has such a knowledge of French and German as we require of candidates for the Ph.D. degree.

Very sincerely yours
[signed]
C. J. Bullock

Dean C. H. Haskins

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

General Examination, date and
examiners
[carbon copy]

Division of History, Government, & Economics
Harvard University

21 March 1924

My dear Mr. Watts:

We are arranging your general examination for the Ph.D. in Economics for Monday, 31 March, at 4 p.m. Your committee will consist of Professors Carver (chairman), Abbott, Williams, Bullock, and Dr. Meriam.

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

Mr. V. O. Watts

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

General Examination
Information Sent to Examiners
[carbon copy]

Division of History, Government, and Economics
Harvard University

24 University Hall
25 March 1924

My dear Professor [blank]

Since the Ph.D. pamphlet is not yet out, I am sending you herewith the information which will appear in it about V. O. Watts, whose general examination is to be held on Monday, 31 March, at 4 p.m.

Very truly yours,
Secretary of the Division.

Carver
Abbott
Williams
Bullock
Meriam

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

General Examination, Watts Reminder
[carbon copy]

27 March 1924

My dear Mr. Watts:

This is to remind you that your general examination for the Ph.D. in Economics is to be held on Monday, 31 March, at 4 p.m. in Widener N.

Very truly yours,
Secretary of the Division

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

General Examination, Carver Reminder
[carbon copy]

27 March 1924

My dear Professor Carver:
This is to remind you that you are chairman of the committee for the general examination of Mr. V. O. Watts for the Ph.D. in Economics, to be held on Monday, 31 March, at 4 p.m., in Widener N. I enclose Mr. Watts’s papers herewith. The other members of the committee are Professors Abbott, Williams, Bullock, and Dr. Meriam.

Very truly yours,
Secretary of the Division.

Professor T. N. Carver

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

Passed General Examination

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
April 1, 1924

Dear Professor Haskins:

I beg to report that the general examination for the Ph.D. degree of Mr. Vernon [sic] Orval Watts was held in Widener N, Monday afternoon, March 31. The committee voted unanimously to accept Mr. Watt’s examination as satisfactory.

Signed: T.N. Carver
Chairman of the Committee

Dean C. H. Haskins

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

Thesis summary still needed
[carbon copy]

March 29, 1932

Dear Mr. Watts:

Your thesis has arrived in good shape. I do not find any summary with it, however. Each thesis is required to be accompanied by a summary, not over 1200 words, which is later published by the University, along with others, in a volume. I note that you have a Digest at the beginning of your thesis; perhaps you intended this to be the summary. However, it should not be bound in with the thesis, and the form should be consecutive and not in outline as you have it. It will be a simple matter for you to re-write this Digest into an appropriate summary.

I believe I wrote you as to the date for your examination, May 27. I should be glad to hear from you confirming this, as the pamphlet goes to press soon, and I cannot hold dates open after April 1st.

Sincerely yours,
Secretary

Mr. V. O. Watts

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

Last-minute thesis preparation

Antioch college
Yellow Springs
Ohio

March 5, 1932

Secretary of the Graduate School of Arts and Sciences
Harvard University
Cambridge, Massachusetts

Dear Sir:

I have almost completed my doctoral dissertation in the field of economics, and I wish to be informed if there are any rules concerning the nature of the binding for the volume.

I am writing the thesis in Sociology under Professor Carver. Shall I send it to you or to him when it has been completed?

Very truly yours,
[signed] V. Orval Watts

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

Scheduling Special Examination

Antioch college
Yellow Springs
Ohio

March 15, 1932

Miss Helen Prescott
772 Widener Memorial Library
Harvard University
Cambridge, Mass.

Dear Miss Prescott:

I should like to have my special examination placed at the end of May or the beginning of June if that will be convenient for Professor Carver.

Sincerely yours,
[signed] V. Orval Watts

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

V. O Watts: Apology for late thesis summary

Antioch college
Yellow Springs
Ohio

March 31, 1932

Dear Miss Prescott:

I regret that my delay in writing you and in sending the summary of my thesis should have caused you the trouble and annoyance of writing me age in about it. For the past two weeks I have been exceedingly busy finishing the thesis while carrying the work of four courses. We also have an economics seminar which meets every week and I am serving on two faculty committees, one of which meets every week.

At the last moment, moreover, last Tuesday, I decided to have most of the thesis re-typed because the previous typing had been so faint. It may have been that the chemicals which are used on that ripple-finish paper may have caused the ink to fade on the earlier copy. At any rate, the work of supervising the typing and doing the proof-reading in addition to my regular teaching load led me to postpone everything I could as long as possible. I sent the summary off yesterday by special delivery, however, so that you should have received it by April first.

I should very much appreciate it if you could let me know soon whether or not my thesis appears to be acceptable. I am naturally anxious about it, especially since the last half of it has been written without Professor Carver’s supervision. It has certain merits, I believe, but I am very conscious of its short-comings. It would have been better if I had showed the earlier drafts of it to Professor Carver to secure his criticisms and suggestions; but every time I wrote a chapter I saw so many things I knew myself should be corrected that I disliked to show it to him, or to any one whose good opinion I valued, until I had done it as well as I could with it myself. In fact I still wanted to give it another revision before turning it in.

I trust that you and your sister are well. It was a pleasant surprise to discover that you were working with Professor Carver again. I am looking forward to seeing you and him again this spring, and I may bring my family along with me.

Very truly yours
[signed] V. Orval Watts

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

Letter to Carver

Antioch college
Yellow Springs
Ohio

April 8, 1932

Professor Carver:

Professor Taussig read a short article I wrote in criticism of Stuart Chase’s Tragedy of Waste when I first considered the topic of waste as a thesis subject. At that time my ideas concerning my plan of procedure were vague, and Professor Taussig merely approved the general subject of economic waste as one worthy of further development. I did not return for further conferences with him.

Most of my conferences, other than those with yourself, were with Professor Young, whom I used to consult frequently during the last year he was at Harvard. The distinction between the economic and the engineering point of view and the historical approach which I took are largely the result of those conferences.

I had several conferences with Professor R. B. Perry of the philosophy department, and he read and discussed at some length with me the first chapter. Professor Mason also read a few of my earlier essays, and I had a few talks with him concerning the general subject. I have felt, however, that he never approved
either of me or of my ideas. Professor Black has  stated the central idea of my thesis — the distinction between the economic and technological points of view — more clearly than any one else with whose work I am familiar, but I never had any conferences with him.

It seems to me that, all things considered, Professor Taussig is the most logical choice in the Economics Department for the examining board. He is very conscientious and honest in his criticisms and evaluations of students, yet I believe he is just and sympathetic towards new ideas.

I feel more keenly than ever at this time the loss of Professor Young, and I realize now that I may have made a mistake in not seeking the advice of Professor Taussig in writing my thesis after Professor Young left us. I always felt very reluctant to show my work to anyone, however, until I had done all I could with it myself. The distinction I have made in the thesis has not been clearly drawn by any other English writer, as far as I could discover, except by Professor Black, and I therefore felt it all the more necessary to state the idea as well as possible before
seeking criticism for it.

I expect to visit Cambridge and to see you and Professor Sorokin next Thursday or Friday. I am rather concerned about my ignorance of European sociology in view of Professor Sorokin’s interest in that field. I have been reading diligently in the history of sociological theory, but it is a very large field to cover, and I am hoping that Professor Sorokin may have some suggestions which will make my efforts more effective.

Sincerely yours,
[signed] V. Orval Watts

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V. O Watts: List of Positions

Antioch college
Yellow Springs
Ohio

May 3, 1932

Dear Miss Prescott:

I have just recalled that you asked me some time ago to send you a list of the positions I have held. If you wanted the list for the pamphlet which was being printed three weeks ago when I was in Cambridge it will be too late to send it now. But in case you may have a further use for it I am giving it herewith. You have my permission, however, to mention any or all of these titles if you wish.

1918-1919. Instructor, Brandon College, Canada
1919-1921. Assist. principal, Gilbert Plains High School, Gilbert Plains Canada.
1922-1923. Thayer Scholar, Harvard University
1924-1926. Instructor in Economics and Sociology, Clark University
1926-1927. Weld Scholar, Harvard University
1917-1929. Tutor in History, Government, and Economics, Harvard University
1929-1930. Lecturer in Economics and Sociology, Wellesley College
1930–. Assoc. Professor of Economics, Antioch College

As you may guess I am very anxious concerning the progress of my thesis through the gauntlet of the readers. I should very much appreciate it if I could obtain a hint of good news from the scene of action, but I suppose that the long list of theses presented this year is delaying the progress of all of them.

Yours sincerely,
[signed]
V. Orval Watts

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

Passed Special Examination

The committee appointed to conduct the special examination of Mr. V. Orval Watts on Friday, May 27, 1932, voted unanimously to accept the examination. It was agreed by all three examiners that it was a brilliant examination..

Signed: T. N. Carver

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

Antioch College informed
that Watts completed his Ph.D.

Antioch college
Yellow Springs
Ohio

Office of the President

June 6, 1932

Dr. T. N. Carver
Department of Economics,
Harvard University,
Cambridge, Massachusetts.

Dear Dr. Carver:

I thank you for your note about Mr. V. O. Watts. It is good to know that he did so well. His interest and enthusiasm in his work with us make his scholarly qualifications all the more productive.

Sincerely yours,
[signed] Arthur E. Morgan,
President.

AEM:HG

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

Ohio State Not Hiring

the ohio state university
George W. Wrightmeyer, President
Columbus

DEPARTMENT OF ECONOMICS

M. B. Hammond Alma Herbst
A. B. Wolfe R. H. Rowntree
H. G. Hayes J. D. Blanchard
H. F. Walradt J. M. Whitsett
Grace S. M. Zorbaugh H. J. Bittermann
F. E. Held C. J. Botte
L. Edwin Smart R. T. Stevens
E. L. Bowers Louis Levine
R. L. Dewey Maurice A. Freeman
C. L. James R. L. Horne
R. D. Patton Wm. H. Mautz
Louise Stitt J. H. Sloan
Virgil Willit

June 6, 1932

Professor T. N. Carver
Department of Economics
Harvard University
Cambridge, Massachusetts

Dear Professor Carver:

I thank you for calling to my attention Mr. V. O. Watts, now teaching Economics at Antioch College. With your recommendation I do not doubt his ability to satisfy. However, the situation is about the same with us as it is at other western
institutions. We are not likely to make additions to the staff during the coming year. Those who are already employed are fighting hard to hold their jobs and there is a steady pressure on the part of graduate students to secure employment as assistants, readers, or in any other capacity, so that I do not anticipate any chance for Mr. Watts to find employment here. However, I will pass your letter to Dr. Bowers, who is acting chairman of the department, so that he can make use of it if there should be any change in the situation which calls for a new man.

I am, with best wishes,

Cordially yours,
[signed] M. B. Hammond

MBH:KU

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

Record of V. O. Watts in the
Graduate School of Arts and Sciences.

1921-22 Course

Half-Course

Economics 9a

A

Economics 9b1

A

Economics 11

B plus

Economics 322

A

Economics 392

A

German A

A minus

1922-23 Course

Half-Course

Economics 8

A

Economics 14

A minus

Economics 31

A

History 12

A minus

1923-24 Course

Half-Course

Economics 20

 

Source: Harvard University Archives. Division of History, Government & Economics, Ph.D. Degrees Conferred 1929-30. (UA V 453.270), Box 12.

__________________________

Course Names and Instructors

1921-22

Economics 9a 1hf. Economics of Agriculture [primarily for undergraduates]. Professor Carver.

Economics 9b 1hf. International Trade and Tariff Policies. Professor Taussig.

Economics 11. Economic Theory. Professors Taussig and Young.

Economics 32 2hf. Economics of Agriculture [primarily for graduates]. Professor Carver.

Economics 39 2hf. International Finance. Asst. Professor Williams.

German A. Elementary Course. Professor Bierwirth et al.

1922-23

Economics 8. Principles of Sociology. Professor Carver.

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

Economics 41. Statistical Theory and Analysis. Professors Young and Day.

History 12. The History of England from 1688 to the Present Time. Professor Abbott.

1923-24

Economics 20. Course of Research in Economics.

Image Source: Portrait of Vervon Orval Watts in the Harvard Class Album, 1932.

Categories
Distribution Harvard Suggested Reading Syllabus

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

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

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

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

___________________________

Homecoming, 1896

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

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

___________________________

Cole Lectured on Wealth Distribution four times in 1896

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

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

___________________________

[Series E.]

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

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

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

No. 16.
Price, 15 Cents.

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

___________________________

The Causes of
the Unequal Distribution of Wealth.

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

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

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

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

REFERENCES.

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

LECTURE I.

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

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

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

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

LECTURE II.

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

LECTURE III.

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

LECTURE IV.

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

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

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

LECTURE V.

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

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

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

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

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

LECTURE VI.

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

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

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

___________________________

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

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

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

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

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

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

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

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

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

LECTURE II.
The Land Question.

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

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

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

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

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

LECTURE III.
The Relation of Profits and Wages.

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

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

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

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

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

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

LECTURE IV.
The Problems of Capital.

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

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

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

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

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

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

LECTURE V.
The Problems of Labor.

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

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

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

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

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

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

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

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

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

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

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

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

LECTURE VI.
Modern Tendencies.

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

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

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

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

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

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

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Questions.

LECTURE I.

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

LECTURE II.

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

LECTURE III.

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

LECTURE IV.

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

LECTURE V.

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

LECTURE VI.

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

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

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

Categories
Economists Harvard

Harvard. Economics Ph.D. alumnus, Seymour Edwin Harris. 1926

While this post still needs the course transcript from the Graduate School of Arts and Sciences at Harvard to be complete, there is enough information about the 1926 Harvard economics Ph.D. Seymour Edwin Harris for it to be added to our series “Meet an economics Ph.D. alumnus/alumna”.

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Biographical/Historical Note

Seymour Edwin Harris was born September 8, 1897 in New York City. He received an A.B. in 1920 and a Ph.D. in 1926 from Harvard University. From 1922 to 1964, Dr. Harris taught economics at Harvard University, where he received a full professorship in 1954, and served as the chairman of the department of economics from 1955 to 1959. During World War II, Dr. Harris was involved in several wartime planning projects. From 1954 to 1956, Dr. Harris became chief economic advisor to Adlai Stevenson. He then served Senator John F. Kennedy in the same capacity and was chosen as a member of President Kennedy’s task force on the economy. In 1961, Dr. Harris was named as chief economic consultant to Douglas Dillon, Secretary of the Treasury. During the Kennedy administration. Dr. Harris, a proponent of Keynesian economics, was a member of Walter W. Heller’s New Frontiersmen, which persuaded President Kennedy that the stimulation of the economy was more important than a balanced budget and tax cuts and government spending could counter threats of a recession. In 1963, Dr. Harris became the chairman of the department of economics at the University of California at La Jolla. At the same time, he served as a chief economic advisor to the Johnson administration.

Source: John F. Kennedy Presidential Library and Museum, Archives. Guide to the Seymour E. Harris Personal Papers.

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HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

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

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

Seymour Edwin Harris.  Sept. 8, 1897; Brooklyn, N.Y.

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

C.C.N.Y. – 1916-18. Harvard A.B. 1918-20.
Princeton – Instructor of Economics 1920-2.
Harvard – Tutor 1922-4.

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

A.B. Harvard. 1920.

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

Economics A, 3, 5, 11, 33
History 1, 12, 32b
Government 1, 17B.
Latin2 years at college. Greek1 year. French2 years (college). German1 year.

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

Economics.

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

  1. Economic Theory & History.
    Economics A, 11as undergraduate14, 15
  2. Money and Banking.
    Economics 38
    Two half courses at Princeton Grad. School. (Currency Reform & Monetary Histor of the U.S.)
  3. Statistics.
    Economics 41
  4. Public Finance
    Economics 31
  5. American History.
    History 32b (as Undergraduate)
    & Private reading
  6. [Left blank]

VII. Special Subject for the special examination.

Money and Banking with International Trade as a substitute field [committee: Professors Young (chairman), Taussig, Gay, and Monroe]

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

Subject? [The Assignat]
Professor Young.

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

May 15, 1924
[March (early), 1926]

X. Remarks

I have not decided on any subject. At present, I expect to write in Theory, and I hope under Professor Young.

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

Allyn A. Young

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

[Not to be filled out by the applicant]

Name: S. E. Harris

Approved: April 2, 1924

Ability to use French certified by C. J. Bullock, 10 May 1923.

Ability to use German certified by C. J. Bullock, 10 May 1923.

Date of general examination April 29, 1924. Passed A.A.Y.

Thesis received March 5, 1926

Read by [left blank]

Approved [left blank]

Date of special examination [left blank]

Recommended for the Doctorate [left blank]

Degree conferred  [left blank]

Remarks.  [left blank]

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

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

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Cambridge, Massachusetts
May 10, 1923

This is to certify that I have examined Mr. S.E. Harris and have found that he has such a knowledge of French and German as we require of candidates for the Ph.D. degree.

Very truly yours
[signed]
C. J. Bullock [K]

Dean D. H. Haskins

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

Passed General Examination

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Cambridge, Massachusetts
April 30, 1924

Dear Dean Haskins:

As Chairman of the Committee to conduct the general examination of S. E. Harris for the degree of Ph.D., I beg to report that Mr. Harris passed the examination. It was the opinion of the Committee that Mr. Harris’ showing was distinctly good, “better than the average”.

Yours sincerely,
[signed]
Allyn A. Young

Dean C. H. Haskins

[Note: The exam was held Tuesday, 29 April at 4 p.m. in Widener D. Committee: Professors Young, Crum, Bullock, Williams and Dr. Merk with Professor Persons substituting for Professor Crum at the examination.]

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

Passed Special Examination

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Cambridge, Massachusetts
March 12, 1926

To the Division of History, Government and Economics:

As chairman of the committee appointed to conduct the special examination of Mr. S. E. Harris for the degree of Ph.D. in Economics I beg to report that Mr. Harris passed a very creditable examination.

[signed]
Allyn A. Young

Source: Harvard University Archives. Division of History, Government & Economics, Ph.D. Degrees Conferred 1929-30. (UA V 453.270), Box 6.

Image Source: This particular portrait of Seymour E. Harris has been cropped from the 1934 Harvard Album. The identical portrait can be found already in the 1925 Harvard Album.

 

Categories
Bibliography Harvard Principles

Harvard. Linked References to 1st ed of Principles of Economics. Taussig, 1911

The first edition of Frank W. Taussig’s Principles of Economics was published in 1911. The two volumes were divided into eight books with well over one hundred items listed in the references. All but two of those items have been found in internet archives and links have been provided to them in the transcription below. I have also included first names for all but one of the authors.

Outstanding Challenge: Find on-line copies of

Ludwig Pohle. Deutschland am Scheidewege (1902);
Karl Theodor von Eheberg. Finanzwissenschaft (1909 edition).

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Volume I

BOOK I
THE ORGANIZATION OF PRODUCTION
References

                  On productive and unproductive labor, see the often-cited passages in Adam Smith, Wealth of Nations, Book II, Chapter III; and those in John Stuart Mill, Principles of Political Economy, Book I, Chapter III. Wilhelm Roscher, Political Economy, Book I, Chapter III, gives an excellent historical and critical account. Among modern discussions, none is more deserving of attention than the paper by Professor Thorstein Veblen, on “industrial” and “pecuniary” employments, in Proceedings of the American Economic Association, 1901, No. 1. A recent discussion, with not a little of clouded thought, is in the Verhandlungen des Vereins für Sozialpolitik, 1909; especially a paper by Professor Eugen von Philippovich and the discussion thereon.

                  On the division of labor, Charles Babbage, On the Economy of Machinery and Manufactures (1837), is still to be consulted. On modern developments, the Thirteenth Annual Report of the Commissioner of Labor (U. S.) on Hand and Machine Labor (1899) [Volume I; Volume II] contains a multitude of illustrations. A keen analysis of the division of labor in its historical forms is in Karl Bücher, Die Entstehung der Volkswirthschaft (7th ed., 1910) [3rd ed. 1901; 10th ed. 1917]; translated into English from the 3d German edition under the title Industrial Evolution (1901). On the industrial revolution of the eighteenth century, see the well-ordered narrative in Paul Mantoux, La révolution industrielle au xviiie siècle (1906), and the less systematic but more philosophical account in Arnold Toynbee, Lectures on the Industrial Revolution (10th ed., 1894).

                  On capital, see the references given below, at the close of Book V. Much as has been written of late on corporate doings and corporate organization, I know of no helpful references on the topics considered in Chapter 6.

BOOK II
VALUE AND EXCHANGE
References

                  Easily the first and most valuable book to be consulted on the theory of value is Alfred Marshall, Principles of Economics (6th ed., 1910) [4th ed., 1898; 7th ed., 1916], especially Books III, IV, V. An admirable introductory sketch is in Thomas Nixon Carver, Distribution of Wealth, Chapter I. On the play of utility, see Philip Henry Wicksteed, The Common Sense of Political Economy (1910); Chapter II of Book I and Chapter III of Book II are valuable supplements to Marshall’s discussion of consumer’s surplus. Compare, also, Maffeo Pantaleoni, Pure Economics (English translation, 1898), Part II.

On speculation, consult Henry Crosby Emery, Speculation in the Stock and Produce Exchanges of the United States (1896).

                  The so-called Austrian theory of value, in which stress is laid on utility as dominating value, is set forth most fully in Friedrich von Wieser, Natural Value (English translation, 1893). A more compact statement is in Eugen von Böhm Bawerk, Positive Theory of Capital (English translation, 1891), Books III and IV.

BOOK III
MONEY AND THE MECHANISM OF EXCHANGE
References

                  On money, Karl Helfferich, Das Geld (2d ed., 1910) 3rd ed., unchanged with a statistical addition to the 2nd ed, 1916, is an excellent descriptive and analytical book. On the theory of money and prices, Irving Fisher, The Purchasing Power of Money (1911), also an excellent book, was published just as the present volume was going to press; I am glad to find its conclusions in essential accord with my own. An entirely different mode of reasoning, and different conclusions, which I find myself unable to accept, are in James Laurence Laughlin, The Principles of Money (1903). Joseph French Johnson, Money and Currency, has convenient accounts of the monetary history of various countries, but is of no value on questions of theory.

                  On banking, Charles Franklin Dunbar, Chapters on the Theory and History of Banking (ed. by Oliver Mitchell Wentworth Sprague, 1901), is a little classic, and contains also abundant references.Hartley Withers, The Meaning of Money, gives a lucid and interesting account of banking conditions in Great Britain. Charles Arthur Conant, A History of Modern Banks of Issue, is useful for its descriptive matter. A vast mass of information on the banking problems and experiences of recent years is in the Publications of the National Monetary Commission (1909-1911); ably reviewed by Wesley Clair Mitchell] in Quarterly Journal of Economics, May, 1911.

                  On the questions of principle underlying bimetallism, see Leonard Darwin, Bimetallism (1898). The same questions are considered in Karl Helfferich, Das Geld (1910) [3rd ed., unchanged with a statistical addition to the 2nd ed, 1916], already referred to. Consult, also, James Laurence Laughlin, History of Bimetallism in the United States; Henry Parker Willis, A History of the Latin Monetary Union (1901); Piatt Andrew, “The End of the Mexican Dollar,” in Quarterly Journal of Economics, Vol. XVIII, p. 321 (May, 1904).

                  On index numbers and methods of measuring prices, William Stanley Jevons, Investigations in Currency and Finance  (1884), though of older date, is still to be read, as among the most interesting and stimulating on this topic. See also Professor Francis Ysidro Edgeworth’s] brilliant memorandum, in Report of the British Association for the Advancement of Science, 1887, pp. 247-301; and Correa Moylan Walsh, The Measurement of General Exchange Value (1901).

                  On rising and falling prices in relation to the rate of interest, see Irving Fisher, Appreciation and Interest, Public. Am. Econ. Assoc., First Series, Vol. XI (1896), and the same writers The Rate of Interest (1907), Chapters V and XIV. See also two papers by John Bates Clark, in the Political Science Quarterly, Vol. X, p. 389 [“The Gold Standard of Currency in the Light of Recent Theory”], and Vol. XI, p. 259 [“Free Coinage and Prosperity”](1895, 1896), and criticism of these by Correa Moylan Walsh, “The Steadily Appreciating Standard,” Quarterly Journal of Economics, Vol. XI, p. 280 (1897).

                  Notwithstanding the abundant literature on crises, there is no good book on the underlying questions of principle. Good historical books are: Clément Juglar, Des crises commerciales et de leur retour périodique en France, en Angleterre, et aux États-Unis (2d ed., 1889), and Oliver Mitchell Wentworth Sprague, A History of Crises under the National Banking System (1910; published by the National Monetary Commission).

BOOK IV
INTERNATIONAL TRADE
References

                  On the foreign exchanges, see Viscount George Joachim Goschen, The Theory of the Foreign Exchanges (last ed., 1901), and George Clare, The A B C of the Foreign Exchanges [Frank Taussig’s copy!] (1895). On international trade, the chapters in John Stuart Mill, Principles of Political Economy (last ed., 1871), Book III, Chapters 17 seq., though in some parts unduly elaborated, are still unsurpassed. A good modern statement, almost too compact, is in Charles Francis Bastable, The Theory of International Trade (4th ed., 1903). A mathematical treatment is in three papers by Francis Ysidro Edgeworth, “The Theory of International Values,” in the Economic Journal, Vol. IV [March, September, December] (1894). I venture to refer also to my own paper on “Wages and Prices, in Relation to International Trade,” Quarterly Journal of Economics, Vol. XX, August, 1906.

                  Notwithstanding the mass of literature on free trade and protection, no book covers the controversy satisfactorily. Henry Fawcett, Free Trade and Protection (1885), states the simpler reasoning in favor of free trade and refutes the cruder protectionist fallacies. Arthur Cecil Pigou, Protective and Preferential Import Duties (1906), is able and discriminating, but written with reference chiefly to the contemporary controversy (1895-1905) in Great Britain. On this, see also William James Ashley, The Tariff Problem (2nd ed. 1904). On the German debates, see, among others, Ludwig Pohle, Deutschland am Scheidewege (1902), and Adolph Wagner, Agrar- und Industriestaat (1902), both in favor of protection for agriculture; and on the other side, Lujo Brentano, Die Schrecken des [überwiegenden] Industriestaats (1901), and Heinrich Dietzel, Weltwirthschaft und Volkswirthschaft (1900). On the tariff history of the United States, Edward Stanwood, American Tariff Controversies in the Nineteenth Century (1903) [Volume I(1903); Volume II (1904), a narrative account of legislation and discussion by a protectionist; and Frank William Taussig, The Tariff History of the United States (ed. of 1909) [5th ed. 1910].

Volume 2

BOOK V
THE DISTRIBUTION OF WEALTH
References

                  On the theory of distribution in general, as on that of value, the first book to be mentioned is Alfred Marshall, Principles of Economics, Books IV, V, VI (6th ed., 1910) [5th ed., 1908]. A compact and able theoretic analysis is in Thomas Nixon Carver, The Distribution of Wealth (1904). Entirely different in method, with a wealth of historical and statistical analysis, and large-minded treatment of the underlying social problems, is Gustav von Schmoller, Grundriss der Volkswirtschaftslehre, Books III, IV (1900–1904; French translation, 1905–1908).

                  Among the many modern books on capital and interest, Eugen von Böhm-Bawerk, Positive Theory of Capital (English translation, 1891, has most profoundly influenced recent economic thought. A revised edition of the German is in process of publication, the first part having appeared in 1909) [Note —German 4th edition (1921): Kapital und Kapitalzins: Part I, Geschichte und Kritik der Kapitalzins-Theorien; Part II, Positive Theorie des Kapitales, Vol. I; Part II, Positive Theorie des Kapitales, Vol. II (Exkurse)]. Not inferior to this in intellectual incisiveness, but marked, like it, by some excess of refinement and subtlety, are Irving Fisher’s two volumes, The Nature of Capital and Income (1906), and The Rate of Interest (1907). John Bates Clark, The Distribution of Wealth (1899), sets forth a theory of wages and interest as the specific products of labor and capital; I find myself unable to accept the reasoning, but to some economists it seems conclusive. The view that there is no essential difference between interest and rent (see Chapter 46) is maintained not only by I. Fisher and J. B. Clark, but by Frank Albert Fetter, Principles of Economics (1904). An able book by a French thinker is Adolphe Landry, L’intérêt du capital (1904).

                  On urban site rent, interesting descriptive matter is in Richard Melancthon, Principles of City Land Values (1903).

                  James Bonar, Malthus (1885), gives an excellent account of Malthus’s writings and of the earlier controversy about his doctrines. Arsène Dumont, Dépopulation et civilisation (1890), not a book of the first rank, states the modern French view, laying stress on “social capillarity”, as explaining the decline in the birth rate, and enlarging on the desirability of an increasing population. Émile Levasseur, La Population française (1892), Vol. III, Part I, gives a good summary statement on the base of population compared with the growth of wealth. Georg von Mayr, Statistik und Gesellschaftslehre [Vol. I, Theoretische Statistik(1895)]: Vol. II, Bevölkerungsstatistik (1897), Vol. III, Part I, Moralstatistik (1910), gives a model summary of statistical data and a judicial statement on questions of principle.

                  Notwithstanding the enormous mass of literature on social stratification, there is no one book that treats this topic in a manner thoroughly satisfactory. Cyrille van Overbergh, La classe sociale (1905), may be consulted.

BOOK VI
PROBLEMS OF LABOR
References

                  A compact discussion of the topics in this Book is in Thomas Sewall Adams and Helen L. Sumner, Labor Problems (1905). On trade-unions, the elaborate book by Sidney and Beatrice Potter Webb, Industrial Democracy (1902), is of high quality; written with special regard to English experience, and stating too strongly the case in favor of the trade-union. On the American situation there is no good systematic book; but excellent studies on some phases are in Jacob Harry Hollander and George Ernest Barnett, Studies in American Trade-Unionism (1905). On Australasian experience, see Victor Selden Clark, The Labour Movement in Australasia (1906); and on the history of labor legislation in England, B. L. Hutchins and Amy Harrison, A History of Factory Legislation (1903). John Rae, Eight Hours for Work(1894), is a good inquiry on experience to the date of its publication. On workingmen’s insurance and allied topics, see Henry Rogers Seager, Social Insurance: A Program of Social Reform (1910), brief and excellent. More detailed and more informational is Lee Kaufer Frankel and Miles Menander Dawson, Workingmen’s Insurance in Europe (1910); still more elaborate is the Twenty-fourth Annual Report of the Commissioner of Labor (U. S.), Workingmen’s Insurance and Compensation Systems in Europe (2 vols., 1910). William Henry Beveridge, Unemployment (1910), is an able book, at once sympathetic and discriminating. A good general account of the co-öperative movement is Charles Ryle Fay, Co-öperation at Home and Abroad (1908).

                  For more detailed bibliographical memoranda, see the Guide to Reading in Social Ethics and Allied Subjects, published by Harvard University (1910).

BOOK VII
PROBLEMS OF ECONOMIC ORGANIZATION
References

                  On railways, Arthur Twinning Hadley, Railroad Transportation (1885), though of older date, has not been completely superseded. More recent are William Mitchell Acworth, The Elements of Railway Economics (1905), and Emory Richard Johnson, American Railway Transportation (new ed., 1910); the latter written primarily as a textbook for American colleges. An able monograph is Matthew Brown Hammond, Railway Rate Theories of the Interstate Commerce Commission (1911); compare John Maurice Clark, Standards of Reasonableness in Local Freight Discriminations (1910). Among foreign books, Clément Colson, Transports et tarifs (1890), though technical and detailed, is of high value. On combinations and trusts, Robert Liefmann, Kartelle und Trusts (1909) [French translation, 1914], gives an excellent compact account of the German situation; and Henry William Macrosty, The Trust Movement in British Industry (1907), a detailed survey of that in Great Britain. Three usable books on American conditions are Richard Theodore Ely, Monopolies and Trusts (1900), Jeremiah Whipple Jenks, The Trust Problem(1900), Edward Sherwood Meade, Trust Finance (1903).

                  On public ownership, Leonard Darwin, Municipal Trade (1903), is an acute critical book, by an opponent; a briefer statement of the same reasoning is in this author’s Municipal Ownership (1907). A mass of information and discussion on both sides is in the Report on the Municipal and Private Operation of Public Utilities, published by the National Civic Federation (3 vols., 1907) [Vol. I; Vol. II; Vol. III]. A detailed treatment of the relation of municipalities to “public utilities” is in Delos Franklin Wilcox, Municipal Franchises (2 vols., 1910-1911) [Vol. I; Vol. II].

                  The books on socialism deal largely with controversies which do not proceed to the heart of the matter. This seems to me to hold of Karl Marx, Das Kapital (English translation, 1891), the most famous and influential of socialist books. Among the innumerable discussions and refutations of the Marxian doctrines may be mentioned Eugen von Böhm-Bawerk, Zum Abschluss des Marxchen Systems, Marx and the Close of his System (English translation, 1891), and James Edward Le Rossignol, Orthodox Socialism: a Criticism (1907). A concise and vigorous statement, based mainly on Marx, is in Karl Kautsky, The Class Struggle and The Social Revolution (English translations, 1910 [and 1902, respectively]). John Spargo, Socialism (1906), is a popular statement of socialist tenets and proposals. Among recent socialist books, James MacKaye, The Economy of Happiness (1906), advocates socialism in a train of rigorous utilitarian reasoning.

                  Among expository and critical books, Albert Schäffle, The Impossibility of Social Democracy, and The Quintessence of Socialism (English translations, 1892 and 1902), are excellent, especially the last-named. The most stimulating and discriminating advocacy and discussion of socialism is often by writers who do not pretend to be “scientific.” Such are Herb Goldsworthy Lowes Dikinson, Justice and Liberty(1908).

                  On this Book, as on Book VI, see the bibliographical memoranda in the Guide to Reading in Social Ethics and Allied Subjects, published by Harvard University (1910).

BOOK VIII
TAXATION
References

                  Charles Francis Bastable, Public Finance (2d ed., 1895), covers the whole field, and is able and well-judged, though not attractively written. Among foreign books, Karl Theodor von Eheberg, Finanzwissenschaft (new ed., 1909), is a good book of the German type; and Paul Leroy Beaulieu, Science des Finances (new ed., 1906. Vol. I; Vol. II), is an able French book, full of good sense and information, but not strong on some questions of principle. On progression, the view presented in Chapter 66 is similar to that of Adolph Wagner, Finanzwissenschaft, Vol. II, § 396 seq. (ed. of 1880), and is different from that in Edwin Robert Anderson Seligman’s Progressive Taxation in Theory and Practice (new ed., 1908). The last-named writer’s Income Tax (1911) is an excellent survey of legislation and experience; and in his Essays on Taxation (new ed., 1911 [1913 edition linked here]), there is a valuable discussion of the American property tax system.

Image Source: Maggs Bros. Ltd. advertisement for a copy of the first edition of Frank W. Taussig’s Principles of Economics (1911). List price (as of July 27, 2024): US$ 765.35.

Categories
Exam Questions Harvard Principles

Harvard. Enrollment and semester examinations for principles of economics. Taussig, Bullock and Andrew. 1907-1908

In addition to the 1907-08 exam questions for Principles of Economics taught at Harvard by Frank W. Taussig, Charles J. Bullock, and A. Piatt Andrew, this post provides links to the previously transcribed 36 years worth of exams.

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Exams for principles (a.k.a. outlines)
of economics at Harvard
1870/71-1906/07

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

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Course Enrollment
1907-08

Economics 1. Professor [Frank William] Taussig and Asst. Professors [Charles Jesse] Bullock and [Abram Piatt] Andrew, assisted by Dr. [Charles Phillips] Huse, and Messrs. [?] Hall, [Probably: Walter Max Shohl, A.B. 1906] Shohl and [Abbott Payson] Usher [A.B. 1904]. — Principles of Economics.

Total 482: 1 Graduate, 8 Seniors, 76 Juniors, 290 Sophomores, 66 Freshmen, 41 Others.

Source: Harvard University. Report of the President of Harvard College, 1907-1908, p. 66.

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ECONOMICS 1
Mid-year Examination, 1907-08

Arrange your answers strictly in the order of the questions.

  1. Does saving lead to investment? Does investment lead to the increase of capital? Does the increase of capital lead to the decline of interest? If so, explain in each case why and how; if not, why not?
  2. Suppose that by the use of more prolific seeds the yield of agriculture were very greatly increased; what immediate consequences would you expect as to
    1. The price of agricultural produce;
    2. Economic rent on agricultural land;
    3. The earnings of farmers?

Wherein might the ultimate consequence be different?

  1. Is there any inconsistency between the propositions that
    1. Value is governed by demand and supply;
    2. Value is governed by marginal utility;
    3. The price of a monopolized commodity may be different for different purchasers?
  2. How far does the price of a copyrighted book depend on its cost? How far does its cost depend on its price?
  3. Explain what is meant by “non-competing groups,” and how the situation indicated by that phrase is connected with questions concerning trade-unions and the closed shop.
  4. What effect has the unattractiveness of an employment on the wages of those engaged in it? How do you explain the current scale of wages for unskilled labor? For “sweated” laborers? For domestic servants?
  5. Is it beneficial to laborers as a class that there should be (1) great mobility and free competition between business men and investors; (2) great mobility and free competition between the laborers themselves?

One of the following questions may be omitted.

  1. Suppose coöperative production were universally adopted, how would business profits be affected? Suppose profit-sharing were universally adopted, how would they be affected? Suppose all laborers organized in trade-unions, how would they be affected?
  2. What is the significance for labor questions of
    1. “Making work”;
    2. Luxurious expenditure by the rich;
    3. Jurisdiction disputes?
  3. Explain precisely what social movement you associate with the following:—
    1. Rochdale Pioneers;
    2. Leclaire;
    3. Knights of Labor;
    4. American Federation of Labor.

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 8, Bound Volume: Examination Papers, Mid-Years 1907-08.

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ECONOMICS 1
Year-end Examination, 1907-08

  1. Wherein is there resemblance, wherein difference, between the causes that determine the value of

a ton of coal;
an ounce of gold;
a dollar of inconvertible paper?

  1. Wherein, if at all, are the following subject to the law of monopoly value:—

urban sites;
the output of a protective industry;
railway transportation?

  1. It is said that “charging what the traffic will bear” may rest on two different causes. Do you find either or both of the causes in (a) railway rates; (b) the prices of illuminating oil; (c) the prices of cotton-seed oil?
  2. Explain the following terms:—

index number;
bimetallism;
limping standard;
Independent Treasury system;
Gresham’s Law.

  1. In the year 1906 the exports of merchandise from the United States exceeded the imports by about 500 million dollars. In the same year the imports of gold were about 50 million dollars.

(a) Can such a disparity continue for a long period of years? If so, why? If not, why not?

(b) So long as it continues, do you regard the situation as favorable for the people of the United States?

  1. Explain the measures taken in periods of great financial stress in (a) England, (b) Germany, (c) the United States; and mention in each case to what extent these measures were contemplated by existing legislation.
  2. What determines the selling-price of (a) an urban site advantageous for business; (b) the shares of a street railway corporation; (c) the shares of a “trust” whose capitalization much exceeds its tangible property? In which of these cases, if in any, can it be said that there is “over-capitalization”?
  3. Suppose the public-service industries (“monopolies of organization”) to be placed under government management. Do you think wages would be lower or higher in these industries? Would the general level of wages in the community be higher or lower?
    On the same supposition, do you think prices of the commodities or services supplied by those industries would be higher or lower? Would the general level of prices be higher or lower?
  4. Does the encouragement of domestic industries through tariff duties cause a saving by doing away with the expense of transporting goods from foreign countries? Are such duties likely to bring a charge on the foreign producer or on the domestic consumer?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1908), pp. 26-27.

Image Source: Faculty portraits of Frank W. Taussig, Charles J. Bullock, A. Piatt Andrew. The Harvard Class Album, 1906. Colorized by Economics in the Rear-view Mirror.

Categories
Columbia

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

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

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

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A few related links

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

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

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THE POLITICAL SCIENCE DINNER
[15 Oct 1930]

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

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

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

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

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

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

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

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

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

PROFESSOR BURGESS responded:

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

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

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

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

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

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

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

PRESIDENT BUTLER then said:

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

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

PROFESSOR GIDDINGS spoke as follows:

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

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

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

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

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

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

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

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

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

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

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

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

PRESIDENT BUTLER continued:

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

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

Dr. SHAW then spoke as follows:

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

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

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

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

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

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

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

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

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

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

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

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

PRESIDENT BUTLER then said:

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

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

PROFESSOR RIPLEY spoke as follows:

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

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

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

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

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

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

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

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

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

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

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

PRESIDENT BUTLER:

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

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

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

DEAN MCBAIN responded as follows:

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

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

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

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

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

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

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

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

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

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

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

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

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

PRESIDENT BUTLER said in conclusion:

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

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

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

Categories
Economists Harvard

Harvard. Application for PhD candidacy. Edward S. Mason, 1923

Below you will find a transcription of the paper trail of Edward Sagendorph Mason that documents the satisfaction of the requirements for his Ph.D. in economics (Harvard, 1925). 

Understatement is almost an art form in the hands of the chairman (Professor Frank W. Taussig) of Mason’s final doctoral examination  that followed acceptance of his dissertation: “His showing was highly creditable, even brilliant”.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

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

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

Edward Sagendorph Mason, Clinton, Iowa. Feb. 22, 1899.

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

University of Kansas 1916-’19
Harvard (graduate school) one year 1919-’20
Oxford University (Lincoln College) 1920-’23

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

A.B. Kansas 1919
M.A. Harvard 1920
B. Litt. Oxford 1923

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

30-40 hours in Economics (Theory – Econ. Hist. – Banking – Hist. of Theory)
Political theory – American government.
English History – Modern French History.
French – 3 years.
English literature – 20-30 hours.

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

Economics

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

  1. Economic Theory. – Econ 11 at Harvard. Elementary and advanced courses at Kansas. – Reading and lectures in England and Germany.
    History of Theory (from Plato & Aristotle). Elementary course at Kansas – Reading and lectures at Oxford
  2. Statistics. – Graduate course at Harvard. Additional Reading.
  3. Public Finance. – Graduate course at Harvard.
  4. Economic History of England and the United States. – Elementary course in U.S. Econ. History at Kansas. Lectures and reading at Oxford.
  5. American Government and Constitutional Law. – Elementary course in Am. Gov. at Kansas. Graduate course in Const. Law at Harvard. Additional reading.
  6. International Trade

VII. Special Subject for the special examination.

International Trade

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

Dumping – A Study of Certain International Trade Practices. England, Germany and the United States (B. Litt. Dissertation at Oxford in this subject. May submit same at Harvard.)
Professor Taussig.

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

General Examination. June 10th or after.
Special Examination. Next year.

X. Remarks

Attendance at Oxford makes it impossible for me to present myself before June 10th at the earliest.

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

[signed] F. W. Taussig

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

[Not to be filled out by the applicant]

Name: Edward S. Mason

Approved: May 28, 1923

Ability to use French certified by C. J. Bullock. Oct 3, 1923.

Ability to use German certified by  C. J. Bullock. Oct. 3, 1923.

Date of general examination November 27, 1923. Passed. F.W. Taussig, ch[airman]

Thesis received 22 December 1924.

Read by Professors Taussig, Young, Williams.

Approved 14 January 1925.

Date of special examination 22 January 1925. Passed F.W.T.

Recommended for the Doctorate [left blank]

Degree conferred 24 February 1925

Remarks.  [left blank]

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

Record of E. S. Mason in the
Graduate School of Arts and Sciences

1919-20
Economics 11
[Economic Theory. Prof. Taussig]
A
Economics 31
[Public Finance, Prof. Bullock]
A minus
Economics 41
[Statistics: Theory and Analysis, Asst. Prof. Day]
B plus
Government 19
[American Constitutional Law,
Mr. MacLeish]
A
A.M.  1920

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

Dean not amused by late application

28 April 1923

My dear Mr. Mason:

Your application requesting for arrangements for a general examination this year has just been received. I am rather surprised that you should hand it in at such a late date and expect us to meke such arrangements. The list of examinations has been scheduled and printed for some weeks, and we cannot guarantee examinations for anyone after the first of June as it is exceedingly difficult to secure the presence of all the members of the examining comittee in Cambridge on the same day after the close of the lecture period. If you will indicate definitely the date of your return, which you mention vaguely in your letter, we shall try, however to arrange a committee for you at that time. Nothing can be promised, but we shall try to do what we can. I appreciate the convenience to you of taking the general examination this year, but I beg to remind you that due notice should be given of your plan of study and of your application for a general examination.

Very truly yours,
[unsigned carbon copy]

Edward S. Mason

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

Mason responds to the Dean regarding an early date for his general examination

Lincoln College,
Oxford.

May 9, 1923.

Dean C. H. Haskins,
Harvard University.

My dear Sir –

If it is convenient for you and for the examiners I should like to take the Ph.D. general examination (Economics) on June 12th. I am writing to Professor Bullock, my examiner in French and German, asking to be allowed to present myself June 11th for the language examinations.

May I emphasize again that if it causes the slightest inconvenience to yourself or the examiners, I should very much like to have the examination postponed till October or November, since I intend to be at Harvard next year in any case.

Thanking you for the trouble you have taken.

I am,

Very Truly Yours,
[signed] Edward S. Mason

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

Division Memo Regarding Planned General Examination (undated)

HARVARD UNIVERSITY
(INTER-DEPARTMENTAL CORRESPONDENCE SHEET)

Cambridge, Massachusetts

Edward S. Mason

June 10, or after.

  1. [Taussig] Economic Theory
  2. [Bullock] History of Theory (from Plato to Aristotle)
  3. [Crum] Statistics
  4. [Burbank] Public Finance
  5. [Usher] Economic History of England and the United States
  6. [Holcombe] American Government and Constitutional Law.

Special field: International Trade

Thesis being done with Professor Taussig.
Professor Taussig has signed the application.

French and German not certified.

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

22 May 1923

My dear Mr. Mason;

In view of the difficulty of arranging an examination so late in the year, and also in view of the fact that you have not satisfied your French and Gorman requirement, I think it would be better if the examination went over till fall. There will be no difficulty in arranging an examination for you early in October, if you so desire.

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

Certification of reading knowledge
of French and German

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
October 3, 1923.

Dear Haskins:

I have examined Mr. E. S. Mason, and find that he has such a knowledge of French and German as we require of candidates for the doctor’s degree.

Very truly yours,
[signed]
Charles J. Bullock

Dean C. H. Haskins

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

General exam postponed

21 November 1925

My dear Mr. Mason:

I am sorry to have to tell you that I have just now received a telegram from Professor Taussig from Yonkers, New York, saying that he has been detained by the sudden death of his brother, and that your examination would have to be postponed. I will let you know as soon as I hear anything further from him,

Very truly yours,
Secretary of the Division.

Mr. E. S. Mason

[Note: Frank Taussig’s brother, mayor Walter Morris Taussig of Yonkers, New York, committed suicide on Nov. 21, 1923.]

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

New Date for General Examination

23 November 1923

My dear Mr. Mason:

Your general examination is to be held on Tuesday, 27 November, at 4 p.m., in Upper Massachusette Hall.

Very truly yours.
Secretary of the Division.

Mr. E. S. Mason

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

General examination passed

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
November 30, 1923.

Dear Haskins:

As Chairman of the Committee appointed to conduct the general examination of Edward S. Mason, I have to report that Mr. Mason passed the examination by unanimous vote of the Committee.

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

Dean C. H. Haskins

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

Thesis accepted, but…

15 January 1925

My dear Mr. Mason:

I am happy to inform you that your thesis has been accepted. Under ordinary circumstances we should be glad to arrange your special examination as soon as practicable, but I cannot guarantee presence of a committee during the midyear examination period and the time is now too short to arrange
an examination in the next few days. Moreover, I do not see how you can be admitted to the final examination until you present suitable evidence of your graduate study elsewhere and you have been accepted by the authorities of the Graduate School as a candidate for the Doctorate. I understand from Dr. Robinson that the papers which you were to submit in support of your application for the Ph.D. have not yet been filed.

Sincerely yours,
[Initialed] C. H. H.

Mr. E. S. Mason

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

Papers in order, so special examination
can take place

16 January 1925

My dear Mr. Mason:

Since you have now straightened out the matter concerning which Professor Haskins wrote you yesterday, we are arranging your special examination for Thursday, 22 January, at 4 p.m. The committee will consist of Professors Taussig (chairman), Young, Williams, and Persons. I trust that this will be convenient for you. I will let you know about the place later.

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

Dr. E. S. Mason

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

Date and committee
for special examination

19 January 1925

My dear Mr. Mason:

This is to remind you that your special examination for the Ph.D. in Economics is to be held on Thursday, 22 January, at 4 p.m., in Widener U. The committee will consist of Professors Taussig (chairman), Young, Williams, and Persons.

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

Dr. E. S. Mason

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

Special examination passed

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
January 27, 1925.

Dear Haskins:

I have to report that Edward S. Mason passed his special examination for the Ph.D. degree on Thursday, January 22, by unanimous vote of the Committee. His showing was highly creditable, even brilliant.

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

Dean C. H. Haskins

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

Source: Harvard University Archives. Division of History, Government & Economics. PhD. Examinations, Box 6: 1924-26.

Image Source: Portrait of Edward S. Mason included in the Harvard Class Album 1932.

Categories
Exam Questions Harvard Sociology

Harvard. Enrollment and exam questions for principles of sociology. J.A. Field, 1906-1907

 

Thomas Nixon Carver was on a European sabbatical with his wife and three children during the academic year 1906-07 so substitutes were needed to cover his courses on sociology, agriculture and income distribution. The graduate student James A. Field took over the principles of sociology course in Carver’s absence.

Note: Materials from some courses have already been transcribed and posted. Whenever that is the case, I’ll just add a link to the relevant post. Falling between Economics 1 and Economics 3 was Frank W. Taussig’s course, Economics 2 (“Principles of Economics–Second Course”). It was the “advanced” economic theory course in the curriculum.

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Previous Posts about James A. Field

Chicago. Decennial Harvard Class Report of associate professor of political economy James A. Field, ABD, 1913.

Harvard. Economics Graduate School Records of James Alfred Field, ABD. 1903-1911.

__________________________

Course Enrollment
1906-07

Economics 3. Mr. J.A. Field. — Principles of Sociology. Theories of Social Progress.

Total 44: 4 Graduates, 9 Seniors, 16 Juniors, 11 Sophomores, 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1906-1907, p. 70.

__________________________

HARVARD UNIVERSITY
ECONOMICS 3

Mid-year Examination, 1906-07

I.

  1. [Elective reading(s)]
    1. Name the author and the title of the book which you chose for elective reading (or of each of the books, if your reading involved more than one).
    2. Indicate and briefly describe that which seems to you the central thought or the most interesting thought in the book (or in each of the books) thus read.
    3. Criticise the book (or one of the books) with regard to both merits and defects, giving special attention to the part you have described in your answer to question (b) above.

II
Omit one question of this group.

  1. What do you consider to be the true conception of social progress?
    To what extent does social progress in this sense promote the welfare of individuals?
  2. What is an acquired character?
    Assuming that acquired characters are not inherited, in what ways is that fact advantageous for society?
    Does this assumed non-inheritance of acquired characters become more advantageous or less advantageous as civilization advances?
  3. Describe the three stages traced by Comte in the progress of human society.
    Is Comte’s scheme in harmony with Kidd’s belief regarding the conditions of progress?
  4. What is meant by social heredity?
    Show the relation between social heredity and the theories of Baldwin, Fiske, and Tarde which have been considered in this course.

III
Omit one question of this group.

  1. What is Buckle’s conclusion as to the relative importance or moral and the intellectual factors of progress, and on what reasons is his conclusion based?
    Do you accept his conclusion and his reasoning as correct?
  2. How may self-interest act as a socializing influence?
  3. In what sense can a social mind be said to exist?
    How is it related to the individual minds of the members of society?
  4. What is religion, according to Kidd?
    How much has it in common with “the struggle for the life others”? How much has it in common with Idealization?
    Would Kidd agree that the function of all religions is to reconcile us to the inevitable?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1906-07.

__________________________

ECONOMICS 3

Year-end Examination, 1906-07

[Omit one question.]

  1. Briefly explain:
    1. Exogamy.
    2. Anthropomorphism.
    3. Refraction of Imitation.
    4. Vicarious Leisure.
    5. General Social Sanction.
  2. What are the functions which are organized in the institution of the family?
    Describe the Religious-Proprietary Family.
  3. Criticise Spencer’s antithesis of the militant and industrial types of society and compare it with Robinson’s theory of the relation between war and economics.
  4. What is the Standard of Living?
    For what reasons, and under what conditions, is a high standard of living desirable?
  5. Compare economic competition with the biological struggle for existence.
  6. What are the relations of cause and effect which connect competition, specialization and capitalism?
  7. Explain and criticise Veblen’s theory of the Instinct of Workmanship.
  8. Discuss the relation of women to the competitive process, to conservatism and reform, to religion and to the institution of the leisure class.
    How do you explain the psychic differences between men and women which this discussion suggests? To what extent do you regard these differences as merely the result of social conventions?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1906-07 (HUC 7000.25), pp. 27-28.

Image Source: Original black-and-white image from the Special Diplomatic Passport Application by James Alfred Field (January 1918). Cropped and colorized by Economics in the Rear-view Mirror. (Note: left third of the image is slightly distorted because of a transparent plastic strip used to hold pages in the imaging process)

Categories
Exam Questions Harvard Principles

Harvard. Enrollments, staffing, exams for principles of economics. Taussig, Bullock, Andrew. 1906-1907

It is now time to begin posting transcriptions of course material for the Harvard academic year 1906-07. Sometimes, even for the curator of Economics in the Rear-view Mirror, this becomes a tedious task. Still, the opportunity to assemble a long time series of economics exams into searchable text for one of the leading economics departments has the virtue of being steady work. 

In the beginning… there is the undergraduate principles of economics course and that is the subject of this post. Subsequent posts more or less follow the course numbering used at the time by Harvard.

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Taussig explains the course structure

In a letter Aug 8, 1906 to E.R.A. Seligman at Columbia describing how Economics 1 was taught we learn that Frank Taussig gave the first semester lectures and his younger colleagues, Charles J. Bullock and A. Piatt Andrew split the second semester’s lectures between themselves. The textbooks used in the course were “Mill, Walker, and Seager.” Taussig also gave himself credit for introducing the course structure of having a common set of lectures and small-section work for discussion and exercises.

________________________

Course Enrollment
1906-07

Economics 1. Professor [Frank William] Taussig and Asst. Professors [Charles Jesse] Bullock and [Abram Piatt] Andrew, assisted by Messrs [Selden Osgood] Martin, [Frank Richardson] Mason, G. R. [George Randall] Lewis, [Charles Phillips] Huse, and [Arthur Norman] Holcombe. — Principles of Economics.

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

Source: Harvard University. Report of the President of Harvard College, 1906-1907, p. 70.

________________________

ECONOMICS 1
Mid-year Examination, 1906-07

Arrange your answers strictly in the order of the questions.

  1. Explain briefly what is meant by, — free goods; public goods; utility; marginal utility; productive labor.
  2. Explain the relation between, — the rate of interest; the selling price of land; the capitalization of monopolies; vested rights.
  3. What is meant by urban site rent? Does such rent differ from the rent of agricultural land? If so, in what essentials? If not, why not?
  4. Are business profits a return different in kind from wages, according to Mill? Seager? the instructor in the course?
  5. Is a high birth-rate to be regarded with anxiety? a low birth-rate? a high death-rate? a low death-rate? State (in round numbers per 1000 of population) what you would regard as high and low rates.
  6. Would you expect the price of a commodity to fall if its cost of production were lowered? If so, under what conditions? If not, why not?
    Would you expect the cost of producing a commodity to be lowered if its price fell? If so, under what conditions? If not, why not?
  7. Wherein had immigration into the United States during the decade just passed differed from immigration in earlier times; and what effect has recent immigration had (a) on the general rate of wages, (b) on wages in particular occupations?
  8. Explain the connection between, — collective bargaining; the closed shop; the open union.
  9. Suppose socialism, in the form proposed by Fourier, were adopted: how would wages, rent, interest, business profits, be affected? What if socialism, as outlined by modern writers, were adopted?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1906-07.

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ECONOMICS 1
Year-end Examination, 1905-06

I.
Answer three questions.

  1. Does the value of a commodity depend on its utility? Does the price of a commodity depend on its value?
  2. Explain briefly what is meant by (a) the sweating system, (b) producers’ coöperation, (c) collective bargaining.
  3. Suppose a great increase in the supply of (a) gold, (b) silver, (c) wheat: would the values of these three articles be affected in the same way and in the same degree?
  4. What is the nature of the income received by (a) an owner of lodging house who lets rooms to students; (b) an owner of shares a “trust”; (c) an author receiving royalty on a copy-righted book; (d) a mine owner receiving a royalty (so much per ton) on minerals extracted from his mine.

II.
Answer three questions.

  1. Describe the various forms of credit which serve as means of exchange. Does their existence afford any disproof of the “quantity theory”? Explain why or why not.
  2. If there were no legal restrictions, would anything tend to prevent an over-expansion (a) of deposits, (b) of notes?
    If the present legal restrictions on note issue were abolished, what substitutes would you suggest?
  3. The imports of the United States from Brazil permanently exceed our exports to that country. What movements of specie between these countries are involved? The total exports of merchandise from the United States permanently exceed its imports. What movements of specie to or from this country are involved?
  4. Given mint par with England 4.86 2/3, France 5.18, Germany 0.952. What conditions with regard to American trade are indicated by the following quotations of exchange in New York, 4.84, 5.20, 0.945? How ought these rates to stand if the American dollar were to fall to half its present gold value?

III.
Answer three questions.

  1. According: to the principles laid down by Adam Smith and Mill, what changes should be made in the system of taxation employed by our national government?
  2. Compare the history of the income tax in the United States with the history of the tax in two European countries.
  3. What are the principal arguments for and against the proposal to levy progressive income taxes in order to prevent “undue” concentration of wealth? What are the arguments for and against using progressive inheritance taxes for the same purpose?
  4. Should a national debt be extinguished? Should municipal debts be extinguished? (In each case state fully the reasons for your answer.)

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1907), pp. 24-25.

Image Source: Frank W. Taussig in the Harvard Class Album, 1906. Colorized by Economics in the Rear-view Mirror.

Categories
Economists Harvard Transcript

Harvard. Application for PhD candidacy. James Waterhouse Angell, 1921

The empirical questions behind most of the collection of archival artifacts found here at Economics in the Rear-view Mirror can be reduced to i) what was being taught ii) who was teaching it, and iii) what was the pattern of the courses actually taken by young economists. These artifacts can be thought of as occupying cell(s) in a matrix of year by academic institution, e.g. this post deals with question (iii) and will be filed in the Harvard, early 1920’s cell.

James Waterhouse Angell (1898-1986) was a Harvard and Chicago trained economist who joined the Columbia faculty upon receiving his Ph.D. from Harvard in 1924. He was a member of Columbia’s faculty for over forty years, interrupted by government service during World War II at the War Production Board and the Foreign Economics Administration.  More about his life and career can be read in his New York Times obituary (April 1, 1986)

With this post we have the record for Angell in Harvard’s Division of History, Government, and Economics. It provides us with a wealth of information about his academic training. There will be a flow of such records for other graduate students that promises to match the flow of syllabi and exams, the stock of which constitute the core of archival material.

 You  should subscribe to Economics in the Rear-view Mirror if you are working on the history of economics. To do so scroll down (or search “Subscribe” on this page from your web browser).

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Autobiographical snippet

Angell’s personal statement in the 25th year anniversary report of the Harvard Class of 1918

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

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

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

James Waterhouse Angell. May 20, 1898. Chicago.

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

Undergraduate: Harvard 1914-18. Graduate: University of Chicago, March 1919-June 1920; Harvard, September 1920-date. Teaching: Assistant in Economics, Univ. of Chicago, October 1919-June 1920.

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

A.B. Harvard, 1918. [magna cum laude]

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

History. Harvard: Hist. A, 30a. Government. Univ. of Chicago: Elementary Comp. Govt. Economics. Harvard: Economics A, 2a, 2b, 4b, 5a, 5b. Univ. of Chicago: Labor Problems, Money and Banking, Statistics.

Greek: Harvard: Greek G, A, 2, 8. Latin. Harvard: Latin B, 8. French. Harvard: French 2. Philosophy. Univ. of Chicago: Social and Political Philosophy. Psychology. Harvard: Psychology A, Univ. of Chicago: Social Psychology.

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

Economics

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

  1. Economic Theory and Its History. Harvard: Economics A, 11, 14; Univ. of Chicago: History of Econ. Thought. Teaching: Univ. of Chicago: 2 quarters of elementary theory, 1920.
  2. Economic History since 1750. Harvard: Economics 2a and 2b.
  3. Public FinanceHarvard: Economics 5a, 5b, 31
  4. Money and Banking. Harvard: Economics 38. Univ. of Chicago: Elementary Money & Banking. Also private reading.
  5. International Trade and Tariff Policy. Harvard: Economics 33; and private reading.
  6. [Constitutional] History of the U.S., 1789-1914Univ. of Chicago. 3 quarters of graduate study. (A. D. Mr. Laughlin)

VII. Special Subject for the special examination.

Special subject either Economic Theory or Public Finance; to be specified later. Money and Banking

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

International Price Levels (With Professors Taussig and Young)

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

General: Last week in October, 1921.

X. Remarks

[Left blank]

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

[signed] Edmund E. Day

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

[Not to be filled out by the applicant]

Name: James W. Angell

Approved: April 29, 1921

Ability to use French certified by Charles J. Bullock. 10 March, 1922 B.S.M.

Ability to use German certified by Charles J. Bullock, 10 March, 1922 B.S.M.

Date of general examination June 2, 1922 Passed A.A.Y.

Thesis received Oct. 15, 1923

Read by Professors Taussig, Young, and Persons

Approved October 29, 1921

Date of special examination Thursday, March 6, 1924. Passed A.A. Young 

Recommended for the Doctorate[left blank]

Degree conferred  [left blank]

Remarks.  [left blank]

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

Record of James Waterhouse Angell in the Graduate School of Arts and Sciences of Harvard University

1920-21
Economics 11.
[Economic Theory, Prof. Taussig]
A
Economics 14
[History and Literature of Economics to the year 1848, Prof. Bullock]
A minus
Economics 31
[Public Finance, Prof. Bullock]
A
Economics 331 [half course]
[International Trade and Tariff Problems, Prof. Taussig]
A
Economics 382 [half course]
[Selected Monetary Problems, Prof. Young]
A
Attained the degree of Master of Arts.
1921-22
Economics 20 (F.W.T.)
[Economic Research (for Ph.D. candidates)]
A

Note: A transcript can also be found in Harvard University Archives, Graduate School of Arts and Sciences. Record Cards of Students, 1895-1930, Aab—Belcher (UAV 161.2722.5). File I, Box 1, Record Card of James Waterhouse Angell.

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

HARVARD UNIVERSITY
Committee on Economic Research
Cambridge, Massachusetts, U.S.A.
Charles J. Bullock, Chairman

Charles F. Adams
Nicholas Biddle
Frederic H. Curtiss
Wallace B. Donham
Ogden L. Mills
Eugene V. R. Thayer

W.M. Persons, Editor
Review of Economic Statistics

J.B. Hubbard, Editor
Harvard Economic Service

F.Y. Presley
General Manager

March 10, 1922.

Professor Charles H. Haskins,
23 University Hall,
Cambridge, Mass.

This is to certify that I have examined Mr. J. W. Angell and find that he has such a knowledge of French and German as we require of candidates for the doctor’s degree.

[signed] Charles J. Bullock

CJB/AMB

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

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Cambridge, Massachusetts
6 June 1922

I beg to report that Mr. James W. Angell passed the General Examination in Economics held on Friday, 2 June. Mr. Angell’s examination clearly earned a pass, but it is proper to say that the examination was not as distinguished and the margin was not as large as Mr. Angell’s brilliant course record indicated it would be.

[signed by D.C. for] Allyn A. Young

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

[Carbon copy]

26 February 1924

My dear Professor Young:

We are arranging J.W. Angell’s special examination for Thursday, 6 March, at 4 p.m. I will let you know the place later. The committee will consist of Professors Taussig, Williams, Sprague, and yourself as chairman.

Very truly yours,
Secretary of the Division.

Professor A. A. Young

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

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Cambridge, Massachusetts
March 7, 1924

Dear Haskins:

On behalf of the committee appointed to conduct the special examination of Mr. J. W. Angell, I beg to report that Mr. Angell successfully passed the examination. I may add that the examination as a whole was unusually satisfactory.

Very truly yours,
[signed by k. for] Allyn A. Young

Dean C. H. Haskins

Source: Harvard University Archives. Division of History, Government, and Economics. Ph.D. exams and records of candidates, study plans, lists, etc. pre-1911-1942. Box 5. Folder “J. W. Angell.”

_______________________

Annotated Typescript for
Division of History, Government, and Economics
Examinations for the Degree of Ph.D. 1923-1924
JAMES WATERHOUSE ANGELL.

SPECIAL EXAMINATION in Economics, passed. Thursday, March 6, 1924.

GENERAL EXAMINATION passed June 2, 1922.

ACADEMIC HISTORY: Harvard College, 1914-18; University of Chicago, March, 1919, to June, 1920; Harvard Graduate School, 1920-23. A.B., 1918; A.M., 1921. Assistant in Economics, University of Chicago, 1919-20; Tutor in the Division of History, Government, and Economics, Harvard, 1921-22; Frederick Sheldon Travelling Fellow, Harvard, 1922-23; Instructor in Economics and Tutor in the Division of History, Government, and Economics, Harvard, 1923-4.

GENERAL SUBJECTS: 1. Economic Theory and Its History. 2. Economic History since 1750. 3. Public Finance. 4. Money and Banking. 5. International Trade and Tariff Policy. 6. American History since 1789.

SPECIAL SUBJECT: Money and Banking.

COMMITTEE: Professors Young (chairman), Taussig, Williams,
and Sprague.

THESIS SUBJECT: The Theory of International Prices and its History.

COMMITTEE ON THESIS: Professors Taussig, Young, and Persons.

Source: Harvard University Archives. Division of History, Government, and Economics. Ph.D. exams and records of candidates, study plans, lists, etc. pre-1911-1942. Box 5. Unmarked Envelope/Folder

_______________________

Image Source:  James Waterhouse Angell’s July 18, 1922 U.S. passport application. National Archives.