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Economics Programs Harvard

Harvard. Visiting Committee Reports. 1895, 1901, 1903, 1906, 1908, 1914

Around the turn of the 20th century visiting committees to the Harvard economic department were supposed to submit reports to the Board of Overseers of Harvard College at least once every three years. When I first saw that at archive.org there were six items listed dealing with Harvard’s visiting committees I was excited, hoping to find a rich mine of material as extensive as Arthur F. Brimmer’s 1974 Report of Economics Department Visiting Committee. As you can see from below, quite the opposite is the case. The early Visiting Committees submitted the nano-reports transcribed and posted below.

Perhaps one indication of the purely formal nature of the reporting system is that the “department of political economy” was renamed the “department of economics” in 1892 but the visiting committee was still referred to the visiting committee “on political economy” as late as 1912-1913.

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LII.

REPORT OF THE COMMITTEE TO VISIT THE DEPARTMENT OF POLITICAL ECONOMY.
May 22, 1895

To the Board of Overseers of Harvard College:

ln the department of Political Economy the Professors feel the pressure of increased numbers of students, the lack of satisfactory space for lecture rooms, and the lack of time for independent work and research.

The difficulty is most serious in Economics 1. The lecture room available is ill-fitted for speaking or hearing, and the great number of students make it impossible, with the present corps of instructors, to divide them into sections small enough for adequate teaching and discussion. The difficulty has been met, as far as practicable, by strenuous and continuous work on the part of the Professors and instructors. This department, like others, feels the want of more books for reference, and of more library space for books and reading.

ARTHUR T. LYMAN, Chairman

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from February 6, 1890 to January 8, 1902. (Cambridge, Massachusetts, 1902), p. 299.

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XCIX.

REPORT OF THE COMMITTEE ON POLITICAL ECONOMY.
June 5, 1901.

To the Board of Overseers of Harvard College:––

The Committee on Political Economy has had this year and last year long conferences with the Professors in the Department, and members of the Committee have also corresponded with the head of the Department.

A very large proportion of the students take Political Economy, and many take the more advanced courses. The courses seem to be satisfactorily conducted and the lecture system is supplemented by conferences and teaching in sections.

A course in Accounting has been taken by a considerable number of students, and next year an excellent programme is proposed for a course in business law. It is intended that such special courses should be confined to graduates or to seniors, and it seems best that they should not interfere with the general and broader courses of instruction in this or any other department.

The great loss to the University and to the Department of Political Economy from the death of Professor Charles F. Dunbar has been referred to by the President in his report.

For the Committee,

ARTHUR T. LYMAN,
Chairman

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from February 6, 1890 to January 8, 1902. (Cambridge, Massachusetts, 1902), p. 621.

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CXXXIV.

REPORT OF THE COMMITTEE ON POLITICAL ECONOMY.
September 30, 1903.

To the Board of Overseers of Harvard College:—

The Committee on Political Economy met the professors and instructors.

Professor Taussig, who has been absent for a long time on account of illness, will resume a part of his work in October.

There continues to be a very large attendance in the courses of Economics — 519 in Economics 1, which deals with the general outlines of the subject, and one hundred or more in four other courses on banking, economic history of the United States, problems of labor and industrial organization, and currency legislation with recent experience and theory. These large classes involve the usual difficulties in giving interesting and adequate instruction, but they are gratifying evidences of the interest in this important subject. They make necessary many instructors for proper division of large classes, and consequently large expense.

The list of courses in the Catalogue shows the wide range of the instruction.

The Quarterly Journal of Economics, published by the Department, is well worthy of your attention. In recent numbers Professor Taussig has given an interesting and instructive history of the iron industry in this country, and the sugar problem has been fully treated.

Many other articles on important practical and theoretical questions have appeared in this Journal, which, like all publications of this class, needs the increased subscriptions and financial support to which its merits fully entitle it.

For the Committee,

ARTHUR T. LYMAN,
Chairman

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from January 8, 1902 to July 30, 1909. (Cambridge, Massachusetts, 1909), p. 741.

Visiting Committee Members (1903):

Arthur T. Lyman, Charles S. Fairchild, Horace E. Deming, John E. Thayer, John F. Moors.

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from January 8, 1902 to July 30, 1909. (Cambridge, Massachusetts, 1909),  following p. 708.

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CLXXVIII.

REPORT OF THE COMMITTEE ON POLITICAL ECONOMY.
May 9, 1906.

To the Board of Overseers of Harvard College:—

The Committee on Political Economy met the Professors in the Department at a long conference. They are able, accomplished, and interesting, and there is, as usual, a very large attendance on their various courses of instruction. These courses deal not only with economic theory, but with transportation, finance, taxation, currency legislation, and banking, economic history, the distribution of wealth, labor, socialism, commercial law, and accounting.

The course on the principles of accounting is taken chiefly by Graduates and Seniors, and it is the purpose of the Department not to sacrifice to it the general and fundamental courses, but to confine it mainly to Seniors or Graduates rather than to follow the plan of some of the Western State Universities in which courses are given throughout the college terms treating in an elaborate way the practical details of business in various branches.

The large attendance in several of the courses in Economics requires subdivisions and conferences, and instructors for such divisions. There is naturally considerable difficulty in securing the desired or desirable instructors, owing to the small salaries that can be afforded and the consequent lack of permanency of employment, and it is much desired that the needed competency and permanency should, if possible, be secured by the assignment of some fellowships to the best of the instructors in the subdivisions and conferences. Much of the time of the Professors might be saved by the addition of various apparatus needed. Some help in this matter has been given by members of the Committee and others.

For the Committee,

ARTHUR T. LYMAN,
Chairman

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from January 8, 1902 to July 30, 1909. (Cambridge, Massachusetts, 1909), p. 925.

Visiting Committee Members (1906):

Arthur T. Lyman, Charles S. Fairchild, Horace E. Deming, John F. Moors, J. Wells Farley.

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from January 8, 1902 to July 30, 1909. (Cambridge, Massachusetts, 1909), after p. 843.

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CCVIII.

REPORT OF THE COMMITTEE ON POLITICAL ECONOMY.
April 8, 1908.

To the Board of Overseers of Harvard College:—

The Committee on Political Economy met the Professors of the Department, and considers that the conditions are satisfactory.

There seems to be nothing new to report, except that arrangements have become possible through the generosity of various persons for carrying on for five years advanced business courses, such as have been under consideration for several years past.

More space is needed for conferences and books, and some plans are under consideration for relief in these matters.

For the Committee,

ARTHUR T. LYMAN,
Chairman

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from January 8, 1902 to July 30, 1909. (Cambridge, Massachusetts, 1909), p. 1128.

Visiting Committee Members (1908):

Arthur T. Lyman, Frederic A. Delano, John F. Moors, Charles S. Fairchild, William Endicott, Jr., J. Wells Farley, Charles G. Washburn.

Source: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College from January 8, 1902 to July 30, 1909. (Cambridge, Massachusetts, 1909), after p. 1118.

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EXECUTIVE COMMITTEE.
REPORT OF THE SECRETARY FOR THE ACADEMIC YEAR 1913-14.
April 13, 1914.

5. Economics. — The enrolment of students in Economics for the first, half of the academic year shows a falling off from 1634 to 1520 students, the most significant loss taking place in the course on Banking. The amount of instruction offered at Harvard in Economics exceeds that offered at any other University except Michigan, while in the amount of money expended Harvard is far in the lead. The Committee notes the continuing eminence and prosperity of the Quarterly Journal of Economics, published by the Department since 1886, which maintains its place as one of the foremost periodicals in the subject in the English Language, and perhaps the foremost. It has the largest circulation of any periodical published by the University, except the Law Review, and there is no more certain way of making a reputation as a writer on Economic subjects than to publish an article in this journal. The most important need of the Department is a fund for the endowment of Economic Research, which will make possible the scientific investigation of pressing economic questions. A very interesting supplemental report is made by Mr. John Wells Morss, one of the members of the Committee, representing the views and experience of a man of business, rather than of a student of education. It should be read as a whole, as it is difficult to give a satisfactory impression of its interest and value by quotations or a summary.

Source: Appended to: Harvard University. Reports of the Visiting Committees of the Board of Overseers of Harvard College for the Academic Year, 1914-15. (Cambridge, Massachusetts, 1915), three pages after page 260.

Image Source: John Harvard statue, ca. 1904. U.S. Library of Congress Prints and Photographs Division.

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Economics Programs Exam Questions Harvard

Harvard. Mid-year and Year-End Final Exams in Economics and Social Ethics, 1896-1897

 

The collection of transcribed Harvard semester examinations here at Economics in the Rear-view Mirror is growing slowly. This post adds the exam questions from 1896-1897 for all the economics courses and for Francis Peabody’s philosophy course “The Ethics of the Social Questions”. 

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From the Preface to the Announcements
for 1896-97

The courses primarily for Undergraduates are open (and in some cases recommended) to Graduate Students, but are not ordinarily counted towards any of the higher degrees. The courses for Graduates and Undergraduates are, under certain limitations, open to any properly qualified student. To the courses primarily for Graduates Undergraduates are admitted only on the recommendation of the Instructor.

No starred (*) course and no course of research can be taken without the previous consent of the Instructor….

By recent action of the Governing Boards, the requirement of two years of residence at this University of a candidate for the degree of Doctor of Philosophy or Doctor of Science has been rescinded. The minimum requirement of residence in now one year, this period being fixed for all degrees by the Statutes. It is not the purpose of the change thus made to lower the standards for these two degrees; but only to reduce the amount of compulsory residence at this University. (April, 1896).

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, pp. iii-iv.

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Philosophy 5.
The Ethics of the Social Questions.
1896-1897

Course Announcement

[Philosophy] 5. The Ethics of the Social Questions. — The problems of Poor-Relief, the Family, Temperance, and various phases of the Labor Question in the light of ethical theory. — Lectures, special researches, and required reading. Tu., Th., Sat., at 10. Professor Peabody.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 26.

Course Enrollment

[Philosophy] 5. Professor Peabody. — The Ethics of the Social Questions. — The problems of Poor-Relief, the Family, Temperance, and various phases of the Labor Question in the light of ethical theory. — Lectures, special researches, and required reading. 3 hours.

Total 56: 1 Graduate, 31 Seniors, 10 Juniors, 3 Sophomores, 11 Others.

Source: Harvard University. Report of the President of Harvard College 1896-1897, p. 66.

*  *  *  *  *
[Mid-year examination,
still to be added]

*  *  *  *  *

Philosophy 5.
THE ETHICS OF THE SOCIAL QUESTIONS.
Year-End Examination,
1896-97

[This paper should be considered as a whole. The time should not be exhausted in answering a few questions, but such limit should be given to each answer as will permit the answering of all the questions in the time assigned.]

  1. Indicate, briefly, the place in the history of the modern Labor Question of:
    Chalmers;
    Von Ketteler;
    Lassalle;
    The Rochdale Pioneers;
    Carlyle;
  2. Ruskin as an Economist.
  3. The anarchist’s criticism of the socialist; the socialist’s criticism of the anarchist, and the communist as he is criticised by both.
  4. What do you understand to be the “quintessence” of socialism, as expounded by Schäffle; and what criticisms on this whole social programme appear to you most serious?
  5. Arbitration and conciliation — their differences, varieties, advantages, and limitations.
  6. The history of co-operation in Great Britain, its fortunes in the United States, and the conditions of its success.
  7. Various types of industrial partnership, — their special advantages and limitations.
  8. The Scandinavian Licensing System compared with the present Massachusetts Liquor Law. (Fanshawe, 187-229.)
  9. Sum up, briefly, the general doctrine of social duty which our study of various social questions is intended to illustrate.

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, p. 7.

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ECONOMICS.
Primarily for Undergraduates.

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Economics 1.
Outlines of Economics,
1896-97

Course Announcement

[Economics] 1. Outlines of Economics. — Principles of Political Economy. — Lectures on Economic Development, Social Questions, and Financial Legislation. Mon., Wed., Fri., at 9. Professors Taussig and Ashley, Asst. Professor Edward Cummings, and Dr. John Cummings.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 33.

Course Enrollment

[Economics] 1. Professors Taussig and Ashley, Asst. Professor Edward Cummings, and Dr. John Cummings. Outlines of Economics. — Principles of Political Economy. — Lectures on Economic Development, Social Questions, and Financial Legislation. 3 hours.

Total 464: 1 Graduate, 40 Seniors, 131 Juniors, 235 Sophomores, 12 Freshmen, 45 Others.

Source: Harvard University. Report of the President of Harvard College 1896-1897, p. 65.

Economics 1.
Mid-year Examination,
1896-97

  1. “Productive labor is that which produces utilities fixed and
  2. embodied in material objects. All other labor, however useful, is classed as unproductive.” Why? or why not?
  3. Capital is the result of saving: capital is produced by labor; all capital is consumed. Can you reconcile these propositions?
  4. “Those circumstances of a country, in which population can with impunity increase at its utmost rate, are rare and transitory.” What are they? and why rare? What is the utmost rate?
  5. Give examples of (a) differences in wages arising from different degrees of attractiveness in different employments; (b) differences arising from natural monopolies.
  6. Suppose a tax were imposed on land precisely equal to the economic rent paid for its use; could the owner of the land shift the tax to his tenant by charging a higher rent than before?
  7. What is meant when it is said that rent does not enter into the cost of production?
  8. It is said to be immaterial whether a community has a large or a small stock of money; and it is said to be harmful for a community to resort to inconvertible paper. Can both of these propositions be sound?
  9. “With enormous shortsightedness, the people of the United States send abroad every year over one hundred millions of dollars, with which to pay for sugar which might have been produced at home.” Why, or why not, is there shortsightedness in this operation?
  10. Wherein does a country gain, if other countries demand more of its exports?
  11. In the stationary state. as described by Mill, what determines the rate of interest? the rate of wages?

Source: Harvard University Archives. [Examinations] Scrapbook of F. W. Taussig, p. 58.

Economics 1.
Year-end Examination,
1896-97

[Answer nine questions, selecting at least one from each of the four groups. Arrange your answers strictly in the order of the questions selected. Give your reasons in all cases.]

I.

  1. Mention a case in which the income received for the use of a piece of real estate is to be regarded as rent; one in which it is to be regarded as interest; and one in which the classification would be doubtful.
  2. Mention a commodity whose value is permanently governed by cost of production; one whose value is permanently governed by the equation of demand and supply; and one whose value is permanently affected by both causes.
  3. Does the gain from foreign trade arise from the sale of exports? from the purchase of imports?

II.

  1. Is the law of Rent stated by Mill applicable either to the German peasant of the early part of the century or to the American farmer of to-day? Give your reasons.
  2. What are the functions of the entrepreneur? Give some account of the origin of the entrepreneur
  3. Illustrate the influence of the feeling of nationality as an economic factor.

III.

  1. How far have English trade unions tried to control (a) the wages of labor? (b) the supply of labor? In what respects have they been most useful?
  2. What do you understand by the rise of the modern factory system? In what sense is this system responsible for what is known as the labor problem?
  3. If all the productive and distributive business of a community were in the hands of cooperative societies would the labor question cease to exist?

IV.

  1. Point out wherein the deposits of a bank resemble its notes, and wherein they differ from its notes; and consider why one or the other should be regarded as part of the circulating medium of the community.
  2. What was the amount outstanding (in round numbers) of legal-tender notes in 1867? in 1877? in 1897? What were the laws under which the notes outstanding at those several dates had been issued, and what was the state of the legislation then in force for their redemption?
  3. Wherein does the Reichsbank of Germany, as to its management of notes and deposits, resemble the Bank of France? Wherein the Bank of England?

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, pp. 37-38.

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ECONOMICS
For Graduates and Undergraduates.

The Courses for Graduates and Undergraduates are open to students who have passed satisfactorily in Course 1. Courses 5, 6, 7, 8, and 9 are also open to Juniors and Seniors of good rank who take Course 1 at the same time; and Course 11 is open to students who have taken either Economics 1 or History 1.

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Economics 10.
The Mediaeval Economic History of Europe

[[Economics] *10. The Mediaeval Economic History of Europe. Tu., Th., (and at the pleasure of the instructor) Sat., at 12. Professor Ashley.]

Omitted in 1896-97. Courses 10 and 11 are usually given in alternate years.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 33.

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Economics 11.
The Modern Economic History of Europe and America (from 1600),
1896-97

Course Announcement

[Economics] 11. The Modern Economic History of Europe and America (from 1600). Tu., Th., (and at the pleasure of the instructor) Sat., at 12. Professor Ashley.

Courses 10 and 11 are usually given in alternate years.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 33.

Course Enrollment

[Economics] 11. Professor Ashley. The Modern Economic History of Europe and America (from 1600). 2 hours.

Total 29: 16 Graduates, 6 Seniors, 1 Junior, 1 Sophomore, 5 Others.

Source: Harvard University. Report of the President of Harvard College 1896-1897, p. 65.

Economics 11.
Mid-Year Examination,
1896-97

N. B. — Not more than eight questions must be attempted.

  1. Give some account of Asiatic commerce in the middle ages.
  2. Enumerate very briefly some of the reasons for which Genoa deserves attention in economic history.
  3. “The mooste part of the lordes have enclosed their demeyn lands and meadows and kept them in severalties.” (Fitzherbert, c. 1530). Explain the nature and effects of the action here described.
  4. What features, if any, were common to the Peasant Risings in the different countries of Western Europe in the fourteenth, fifteenth, and sixteenth centuries?
  5. Compare the action of the English government in relation to industry in the sixteenth century with that of the French government.
  6. “Our merchants may do well to provide for the Russians such wares as the Dutch nation doth serve them of.” Explain and comment.
  7. Describe the industrial condition of Norfolk in the time of Defoe.
  8. Explain, with illustrations, what is meant by the “territorial” period in German economic development.
  9. What impressions do you derive from Defoe’s Essay upon Projects as to the constitution, temper and interests of the business circles of London in his time?
  10. Explain the following terms Droit de vaine pâture, Société en commandite, Niederlegung von Hufen, Hausindustrie, Fondaco.
  11. Give a critical account of any really important work (not on the printed list) of which you have read any considerable portion in connection with this course.

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.

Economics 11.
Year-end Examination,
1896-97

N.B. – Not more than eight questions must be attempted.

  1. “The fifteenth century was the golden age of the English labourer.” What is the evidence for that contention? How is that evidence to be interpreted?
  2. Explain the part played by Hamburg in the economic history of the sixteenth and seventeenth centuries.
  3. Give some account of the history, since the massacre of Amboyna, of the Dutch East Indian Empire.
  4. Indicate very briefly the chief points in Schmoller’s account of mercantilist policy. In what directions does it seem open to criticism?
  5. State the causes and criticize the alleged consequences of the drain of specie from the English colonies in the eighteenth century.
    [Not to be taken by those who have written theses on the Navigation Act.]
  6. “English industries could not have advanced so rapidly without protection.” Examine this statement.
  7. Describe the main features of English industrial life in the early part of the eighteenth century.
  8. What changes did the French Revolution make in the position of the rural population of France.
  9. Discuss the application of the Infant Industries argument to the United States during the early decades of the present century.
  10. Give some account of the competition between railroads and canals as means of transportation.
  11. What exactly were the English “Corn Laws,” repealed in 1846? Have the anticipations of Cobden been realized?
  12. “You made me look rather a fool, Arminius,” I began, “by what you primed me with in Germany last year about Stein settling your land question.” “I dare say you looked a fool,” says my Prussian boor, “but what did I tell you?” “Why,” says I, “you told me Stein had settled a land question like the Irish land question, and I said so in the Cornhill Magazine, and now the matter has come up again by Mr. Bright talking at Dublin of what Stein did, and it turns out he settled nothing like the Irish land question at all, but only a sort of title-commutation affair.” “Who says that?” asked Arminius. “A very able writer in the Times,” I replied. — May we have your opinion?

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, p. 46.

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Economics 15.
The History and Literature of Economics to the Middle of the Nineteenth Century,
1896-97

Course Announcement

[Economics] *15. The History and Literature of Economics to the Middle of the Nineteenth Century. Mon., Wed., (and at the pleasure of the instructor) Fri., at 12. Professor Ashley.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 15. Professor Ashley. — The History and Literature of Economics to the Middle of the Nineteenth Century. 2 hours.

Total 14: 10 Graduates, 2 Seniors, 2 Juniors.

Source: Harvard University. Report of the President of Harvard College 1896-1897, p. 65.

Economics 15.
Mid-Year Examination,
1896-97

N.B. — Not more than eight questions must be attempted.

  1. Explain the influence of the Greek conception of the State upon the economic speculation of Greek philosophers.
  2. “The sacredness of property is a notion far more fixed in modern than in ancient times.” Comment upon this remark
  3. Explain and illustrate the influence of the example of Sparta on Greek social thought.
  4. In what sense is it true that Plato anticipated Adam Smith’s teaching concerning division of labour?
  5. In what sense is it true that Aristotle anticipated the modern distinction between Value in Use and Value in Exchange.
  6. Set forth briefly Aristotle’s doctrine as to Chrematistic.
  7. Discuss the question as to whether Christianity destroyed slavery.
  8. What sanction, if any, has Socialism or Communism in the teaching of the Christian Fathers?
  9. Trace the early history of the doctrine of “interest” in the original sense of that word.
  10. Distinguish between the various senses attached to the term Mercantilism. Which do you think most convenient?
  11. What ideas prominent in modern Protectionist argument are absent from Mercantilism as represented by Mun?

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.

Economics 15.
Year-End Examination,
1896-97

N.B. — Not more than eight questions must be attempted.

  1. Mention some of the practical questions which called forth economic pamphlets in the period 1650-1700, and give some illustrations.
  2. Illustrate and criticize the attitude of the mercantilist writers towards the regulation of internal industry.
  3. Explain the relation of Locke’s doctrine of price to the immediate purpose of his Considerations.
  4. Describe, as definitely as possible, the relation of the Physiocrats to the other reforming or revolutionary movements of their time.
  5. Criticize Adam Smith’s criticism of Physiocratic doctrine.
  6. What elements in his teaching do you conceive Adam Smith to have derived from Hume?
  7. What does Smith mean by “the component parts of the price of commodities”?
  8. Compare Smith’s definition of capital with that of John Stuart Mill.
  9. What does Smith mean by “the natural rates of wages”?
  10. What bearing has the teaching of Malthus on “Socialism.” Explain in your answer what sort of “Socialism” you have in mind, and mention the sources whence you have derived your impression of it.

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, pp. 50-51.

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Economics 2.
Economic Theory from the Middle of the Nineteenth Century to the Present Time,
1896-97

Course Announcement

[Economics] *2. Economic Theory from the Middle of the Nineteenth Century to the Present Time. — English Writers. — The Austrian School. Mon., Wed., Fri., at 2.30. Professor Taussig.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 2. Professor Taussig. — Economic Theory from the Middle of the Nineteenth Century to the Present Time. — English Writers. — The Austrian School. 3 hours.

Total 42: 12 Graduates, 12 Seniors, 13 Juniors, 2 Sophomores, 3 Other.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 65.

Economics 2.
Mid-Year Examination,
1896-97

  1. “According to Ricardo, the exchange value of commodities contains neither return to capital nor rent, but simply labor.” Why? or why not?
  2. Sketch concisely the development of the general theory of value at the hands of Ricardo, Mill, Cairnes.
  3. “Skill, as skill, produces no effect on value; in other words, commodities do not under any circumstances exchange for each other in proportion to the degree of skill bestowed on them. Skill, though in itself inoperative on value, nevertheless affects it indirectly in two distinct ways; first, where competition is effective among producers, through the cost which must be undergone in acquiring the skill; . . . and secondly, in the absence of competition, through the principle of monopoly.” — Cairnes.
    Explain and illustrate.
  4. “If there really was a national fund the whole of which must necessarily be applied to the payment of wages, that fund could be no other than an aggregate of smaller similar funds possessed by the several individuals who compose the employing part of the nation. Does, then, any individual employer, possess any such fund? Is there any specific portion of any individual’s capital which the owner must necessarily expend upon labour? . . . May he not spend more or less on his family and himself, according to his fancy, — in the one case having more, in the other less, left for the conduct of his business? And of what is left, does he or can he determine beforehand how much shall be laid out on buildings, how much on materials, how much on labour? . . . Be it observed, fixity of definiteness is the very essence of the supposed wages-fund. No one denies that some amount or other must within any given period be disbursed in the form of wages. The only question is, whether that amount be determinate or indeterminate.” — Thornton, On Labour.
    State carefully, and consider critically, the answers Cairnes made to these questions.
  5. Would you accede to the statement that “President Walker’s theory is, in reality, not a theory of manager’s earnings at all, but a theory of differences in manager’s earnings”?
  6. “For an understanding of the machinery by which distribution is accomplished, the classification of sources of income should thus be different from that to be adopted for an explanation of the fundamental causes.” — Taussig.
    Wherein different?
  7. Explain what is meant by Consumer’s Rent; and consider how its significance is affected by inequalities in wealth.
  8. “As a rule, the poorer soils rise in value relatively to the richer, as the pressure of population increases.” — Marshall. Why?

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.

Economics 2.
Year-end Examination,
1896-97

  1. Do you believe that a permanent gain for the theory of wages has been made by Walker’s discussion of that subject? If so, wherein? if not, why not?
  2. Does Marshall’s analysis of the different grades of labor, and of the barriers between them, differ in essentials from Cairnes’s? from Mill’s?
  3. Explain what “quasi-rent” is, wherein it differs from true rent, wherein resembles true rent; and state whether the conception seems to you a helpful one, deserving to be permanently embodied in economic theory.
  4. What do you conceive the difference to be between what Walker calls “current product,” Marshall “the national dividend,” and the instructor in the course “real income”?
  5. On what grounds does Marshall maintain that “the extra income earned by natural abilities may be regarded as a rent, when we are considering the sources of the income of individuals, but not with reference to the normal earnings of a trade”? What is your own opinion?
  6. “The attribute of normal value implies systematic and continuous production.” Cairnes. Would Böhm-Bawerk accede to this proposition? Why, or why not? Give your own opinion.
  7. Explain what Böhm-Bawerk means by (subjective) “value”; and consider his analysis of the relation between value and cost.
  8. Enumerate the grounds on which Böhm-Bawerk maintains that “present goods have greater value than future goods of like kind and quantity”; consider to which of these grounds he gives most attention; and give your opinion as to the justice of this emphasis.

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, p. 38. Previously transcribed: https://www.irwincollier.com/harvard-history-of-economic-theory-final-exam-questions-taussig-1897-1900/

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Economics 13.
Scope and Method in Economic Theory and Investigation

[*13 hf. Scope and Method in Economic Theory and Investigation. Half-course. Professor Taussig.]

Omitted in 1896-97; to be given in 1897-98.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

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Economics 3.
The Principles of Sociology.
1896-97

Course Announcement

[Economics] *3. The Principles of Sociology. —Development of the Modern State, and of its Social Functions. Mon., Wed., (and at the pleasure of the instructor) Fri., at 1.30. Asst. Professor Edward Cummings.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 3. Asst. Professor Edward Cummings. — The Principles of Sociology. — Development of the Modern State, and of its Social Functions. 2 hours.

Total 47: 6 Graduates, 23 Seniors, 13 Juniors, 2 Sophomores, 3 Other.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 65.

Economics 3.
Mid-Year Examination,
1896-97

(It is the purpose of the following questions to elicit first, an intelligent statement of the gist of what has been read or discussed; second, a free statement of an intelligent opinions you may be forming for yourselves.
Arrange your answers in the order in which the questions stand. Limit the discussion of each question to about an hour.)

I.

A critical comparison of Mr. Giddings’ treatise on the principles of Sociology with that of Mr. Spencer:—
(a) In regard to method, arrangement, and terminology :
(b) In regard to fundamental resemblances in the theories presented:
(c) In regard to supposed differences

II.

“Next in order come the problems of the social consciousness, or social mind, including its content of common memories and ideas, its aspirations and its volition.” What explanation of the phenomena in question is offered by (a) Giddings; (b) Spencer; (c) Durkheim; (d) Tarde? What is your opinion of the relative merits and the practical bearing of the several explanations?

IlI.

The significance and the function of the family (a) in the earlier and (b) in the later phases of social evolution.
(c) If you still have time, give some account of the successive theories and of the present state and significance of the controversy in regard to early forms of marriage.

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.

Economics 3.
Year-end Examination,
1896-97]

[Answer the questions in the order in which they stand. Give an hour to each group.]

I.

Discuss the conceptions of progress found in the following authors: Spencer, Comte, Giddings, Kidd, Kelly. Bluntschli. Indicate in each case (a) the nature of progress, (b) the criteria, (c) the chief causes.

What do you mean by progress?

What evidence of progress do you find in the historical sequence of the various forms of political organization which have lead to the modern state? Illustrate carefully.

Name and classify the principal types of political organization. Indicate briefly the social and industrial characteristics of each type.

II.

Give a critical summary of the views of Haycraft in Darwinism and Race Progress.

By what other writers, ancient or modern, have similar views been urged?

What importance do you attach to this school of thought?

What is the practical bearing of such views upon (a) the problems of scientific philanthropy and the treatment of defective and criminal classes? (b Upon socialism?

III.

State and criticise Bluntschli’s theory as to the nature and functions of the State, — the relation of the State to society and to the individual.

Compare Bluntschli’s theory with that of other writers, — Pollock, Spencer, Ritchie, Giddings.

What in your opinion are the merits and the defects of Bluntschli’s treatise?

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, p. 39.

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Economics 14.
Socialism and Communism.

Course Announcement

[Economics] *14. Socialism and Communism. — History and Literature. Tu., Th., (and at the pleasure of the instructor) Sat., at 9. Asst. Professor Edward Cummings.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 14. Asst. Professor Edward Cummings.—Communism and Socialism.—History and Literature. 2 hours.

Total 13: 10 Seniors, 2 Juniors, 1 Sophomore.

Source: Harvard University. Report of the President of Harvard College, 1896-97, p. 65.

Economics 14.
Mid-Year Examination,
1896-97

(Arrange your answers in the order of the questions. Omit one.)

  1. The different senses in which the word Socialism is used. Where do you intend to draw the line between Socialism proper, and familiar forms of government interference and control – such as factory legislation, municipal water works, and government postal, telegraph or railroad services? Why?
  2. “National communism has been confused with the common ownership of the family; tenure in common has been confused with ownership in common; agrarian communism with village commons.” Discuss the evidence.
  3. “Just as Plato had his Republic, Campanella his City of the Sun, and Sir Thomas More his Utopia, St. Simon his Industrial System, and Fourier his ideal Phalanstery…. But the common criticism of Socialism has not yet noted the change, and continues to deal with the obsolete Utopias of the pre—evolutionary age.” What do you conceive to be the character of the change referred to? How far did earlier Utopias anticipate the ideals of the modern social democracy?
  4. What indication of Socialistic tendencies are to be found in the discipline of the Christian church? Explain the triple contract and its bearing on the doctrine of the usury.
  5. The contributions of Greek writers to the development of economic thought.
  6. To what extent are the theories of Karl Marx indebted to earlier writers in the 19th-century?
  7. How far are the economic series of (a) Lasalle, (b) Marx related to the theories of the so-called orthodox Economists? Explain critically.
  8. How far do you trace the influence of historical conditions in the social philosophies of Plato, More, Bacon, Rousseau, St. Simon, Karl Marx?

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.
Previously transcribed: https://www.irwincollier.com/harvard-exams-and-enrollment-for-economics-of-socialism-and-communism-edward-cummings-1893-1900/

Economics 14.
Year-end Examination,
1896-97

I.

  1. “The figures of Cardinal Manning and Monsignor Bagshawe in England, of De Mun in France, of Decurtins in Switzerland, of Abbé Hitz in Germany, and of Von Vogelsang in Austria, will ever stand apart as State Socialists who, while looking to the Church for moral reform, expected and wished all economic reforms to come from the State alone.”
    Give some account of the leaders mentioned, and discuss the peculiarities of so-called Catholic Socialism in each country.
  2. How far does the programme of “Catholic Socialism” in different countries harmonize with the programme of the German Social Democratic party.
  3. State carefully what has been the attitude of the Vatican towards Socialism? What are the personal views of Leo XIll?

II.

  1. Describe the origin, development, fortunes and present strength of the Social Democratic party in Germany, — with special reference to the Eisenach, Gotha and Erfurt programmes.
  2. State and criticise Marx’s Theory of Surplus Value. Explain carefully the formula

\left( S=P_{n}\times \frac{s\ l\  t}{n\  l\  t} \right)

  1. What are Schäffle’s chief criticisms of the Socialistic State?

III.

[Take one question.]

  1. “Though social conflicts are as old as civilization itself, Socialism as we now understand it is of scientific origin, and essentially modern.” State carefully your reasons for agreeing or disagreeing.
  2. What are the characteristics of modern Utopian ideals, as contrasted with the ideals embodied in earlier literature of the kind? Contrast Bellamy, Hertzka, Morris.
  3. Trace in a general way the influence of socialistic doctrines in the establishment of socialistic and communistic societies in the United States. What light has experiment thrown upon socialistic and communistic ideals?
  4. State accurately the reading you have done in this course during the second half-year. Give a careful summary of the views of the author you recently selected for your special reading.

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, p. 49-50.

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Economics 9.
The Labor Question in Europe and the United States

Course Announcement

[Economics] 9. The Labor Question in Europe and the United States. — The Social and Economic Condition of Workingmen. Tu., Th., Sat., at 10. Asst. Professor Edward Cummings and Dr. John Cummings.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 9. Asst. Professor Edward Cummings and Dr. John Cummings. — The Labor Question in Europe and the United States. — The Social and Economic Condition of Workingmen. 3 hours.

Total 50: 5 Graduates, 9 Seniors, 27 Juniors, 7 Sophomores, 2 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 65.

Economics 9.
Mid-Year Examination,
1896-97

Divide your time equally between A and B.

A.

  1. The labor problem and the unity of the labor movement as manifested in trade unionism, co-operation, and socialism.
  2. How, if at all, has the introduction of machinery directly modified methods of industrial remuneration?
    What are the several bases for determining remuneration?
    Explain the unpopularity, (a) with employers and (b) with employees, of certain methods of industrial remuneration, and, if you can, offer some general principle justifying the adoption of one method rather than another.
    Tell in what way, if at all, the amount of remuneration is affected by the method of remuneration.

B.

Take six.

  1. The “Old” and the “New” Trade-Unionism. Give an account of growth of the English Trade Unions.
  2. What social and economic motives have contributed to the growth of modern cities? Explain so far as you are able the migratory movements which have led to the aggregation of population within certain industrial centres.
  3. Define: “nibbling”; “lump system “; “pay-as-you-please” piece work; the “lump of labor” theory; “chasing”; “collective gain-sharing”; the “plus” system; “butty-gangs”; “tut-work”; “working in pocket”; “garret master”: “product-sharing”; “bribe participation.”
  4. How far are the various forms of profit-sharing “sops to Cerberus”? What is the essential difference between a profit-sharing firm and a co-operative association? How far does industrial co-operation enable workmen to become their own employers?
  5. To what extent is the development of modern machine industry dependent upon the location of the world’s coal fields?
  6. What are the economic and social conditions of industrial depressions?
  7. Are the evils of sweating due to underpay, to overwork, or to the method of remuneration? Are they peculiar to some particular method of remuneration?
  8. The methods of estimating the annual revenue of Great Britain and its distribution.
  9. Has the introduction of machinery lessened the demand for labor?

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.

Economics 9.
Year-end Examination,
1896-97

I.

  1. State the subject of your special research during the second half-year. How far were you successful in getting material from (a) newspapers, (b) magazines, (c) books, (d) other sources? What general results did you reach?
  2. Explain the essential difference between a socialistic policy and what Schäffle calls a “positive social policy.” What, according to Schäffle, are legitimate objects of protective legislation? Give some recount of German protective legislation, and the “factory labor” to which this legislation applies.
  3. What according to Mallock, determines the minimum wage in any occupation? How far is this minimum rate subject to legislative or other control? Has the introduction of machinery tended to raise or lower this rate? To increase or to lessen the proportion of wages to product?
  4. What do you understand by the statement that “today the labor contract is perfectly free”? Discuss the legality of (a) strikes; (b) boycots; (c) intimidation; (d) “molesting.”
  5. Describe accurately the German compulsory system of old-age insurance. State the precise arguments which are urged for and against the adoption of some such system in England. How far may the German system be said to be the product of peculiar local conditions?

II.

[Omit two questions.]

  1. Describe some of the chief agencies and methods devised for dealing with the unemployed. How far have they been successful?
  2. Describe the strength, composition and programme of the labor party in Belgium, and its relation to trade-unions, cooperation and socialism. Contrast the situation in Belgium with that in Germany.
  3. Show in what respects the general policy of France towards Associations of workingmen during the present century has differed from that of England. Indicate briefly the effects of this policy upon trade-unions, coöperation, etc.
  4. Discuss, the growth, character, programme and strength of existing labor organizations in the United States, — contrasting the situation in this country with the situation in England and explaining differences.
  5. By what peculiar local conditions in each case do you account for the success or the failure of the coöperative movements in (a) England, (b) France, (c) the United States? What do you predict for the future of coöperation?

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, pp. 44-45.

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Economics 4.
Theory and Methods of Statistics,
1896-97

Course Announcement

[Economics] *4, Theory and Methods of Statistics. — Applications to Economic and Social Questions. —  Studies in the Movement of Population. Mon., Wed., Fri., at 11. Dr. John Cummings.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

_____________________

Course Enrollment

[Economics] 4. Dr. John Cummings. — Theory and Methods of Statistics. — Applications to Economic and Social Questions. — Studies in the Movement of Population. 3 hours.

Total 15: 8 Seniors, 7 Juniors.

Source: Harvard University. Report of the President of Harvard College, 1896-1897, p. 65.

Economics 4.
Mid-Year Examination,
1896-97

[Divide your time equally between A. and B.]

A.

  1. The development of scientific statistics and the statistical method as employed in the social sciences.
  2. Social and economic causes of the migratory movements which have taken place in the populations of Europe and America during this century, and the laws in accordance with which those migrations have taken place where you can formulate any.

B.

(Take five.)

  1. Rural depopulation and the growth of cities in the United States.
  2. Define: “mean after life,” “expectation of life,” “mean duration of life,” “mean age at death.” What relation does the mean age of those living bear to the mean age at death? To the mean duration of life?
  3. Anthropological tests of race vitality as applied to the American negro?
  4. Explain how the economic value of a population is effected by its age and sex distribution.
  5. The United States census: either (1) an historical account of it, or (2) an account of the work now undertaken by the Census Bureau.
  6. Explain the various methods of calculating the birth rate of a population.
  7. How far are social conditions in a community revealed in the birth rate, the death rate, the marriage rate? Of what are fluctuations in these rates evidence in each case?
  8. What do you understand by the “index of mortality”?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years. 1896-97.

Economics 4.
Year-End Examination,
1896-97

I.

  1. Give an historical account of the United States census, and a general statement of the ground covered in the census of 1890; also show how the census taking is supplemented by work done in the Department of Labor and in the statistical bureaus established in connection with the several administrative departments.
  2. Define Körösi’s “rate of natality,” and state any statistical evidence you know that the rate is affected by the standard of living.
  3. “It must, at all times, be a matter of great interest and utility to ascertain the means by which any community has attained to eminence among nations. To inquire into the progress of circumstances which have given pre-eminence to one’s own country would almost seem to be a duty….The task here pointed out has usually been left to be executed by the historian.” Porter: “The Progress of the Nation.”
    What contribution has statistics to make in the execution of this task? What do you understand to be the nature of the statistical method, and what are the legitimate objects of statistical inquiry?

II.

[Take two.]

  1. What light does statistics throw upon the “natural history of the criminal man”?
    Give Ferri’s classification of the “natural causes” of crime, and comment upon that classification. Of criminals.
    What do you understand by “rate of criminality”? By “criminal saturation”?
  2. To what extent in your opinion is suicide an evidence of degeneration in the family stock?
    Discuss the influence upon the rate of suicide of education, religious creed, race, climate and other facts of physical, political and social environment.
  3. Comment critically upon the tables relating to crime in the last five federal censuses taken in the United States.
  4. What difficulties beset a comparative study of criminality in different countries?
  5. How far is it possible to give a quantitative statement to moral and social facts?

III.

[Take one.]

  1. What are some of the more salient facts concerning the movement of population and wealth in the United States, England, and France during the present century, so far as those facts are evidenced in the production, consumption and distribution of wealth?
  2. Discuss the movement of wages and prices in the United States since 1890.
  3. What do you understand by “index figures,” “average wages,” “average prices,” and “weighted averages”?

IV.

[Take one.]

  1. How do you account for the increase in the proportion of urban to rural population during this century? What statistical evidence is there that the increased density of a population affects the mean duration of life? What importance to you attach to this evidence?
    Explain the effect of migratory movements upon the distribution of a population according to age, sex and conjugal condition, and upon the birth rate, death rate and marriage rate.
  2. Define and distinguish: “mean age at death”; “mean duration of life”; “mean age of those living”; “expectation of life.”
  3. The “law of population” as formulated by Malthus and by subsequent writers.

Source: Harvard University Archives. Harvard University, Examination papers, 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College. June 1897, pp. 39-41.
Previously transcribed: https://www.irwincollier.com/harvard-semester-exams-for-statistics-john-cummings-1896-1900/

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Economics 51.
Railway Transportation
1896-97

Course Announcement

[Economics] 51 hf. Railway Transportation. — Lectures and written work. Half-course. Tu., Th., Sat., at 1.30 (first half-year). Professor Taussig.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 51. Mr. Virtue. — Railway Transportation. 3 hours.

Total 62: 2 Graduates, 33 Seniors, 20 Juniors, 5 Sophomores, 2 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 65.

Economics 51.
Final Examination,
1896-97

[Omit one.]

  1. Sketch the railway history of Italy.
  2. What light does the internal improvement movement in the United States throw upon the question of the public management of the railway industry?
  3. What is the present position of the courts with regard to the power of State legislatures to fix railway rates? On what ground does the public claim the right to interfere in the fixing of such rates.
  4. Discuss the attempt made by any one of the State governments to control railways by means of a commission.
  5. Describe the Hungarian system of passenger tariffs and its effects.
  6. As a basis of rate making, what is the relative importance of the principle of “charging what the traffic will bear,” and that of charging according to the “cost of service”?
  7. It is said of the railway business that “where combination is possible, competition is impossible.” Why is this true? Is it peculiarly true in the railway business? Give your reasons fully.
  8. Discuss the rate policy set forth in the following passages:
    “In the proposed reform of our transportation taxes it will probably be found advisable, at the beginning, to follow the example of Sir Rowland Hill in his reform of the old English postal system, and adopt, as the uniform rate for each class of service for all distances, the lowest rate now charged for the shortest distance for that class of service.”… “If distances of hundreds of miles, can be safely disregarded in the local transportation of milk and potatoes and grain, then surely there is every reason to believe that a general grouping of all the railway stations in the country with a uniform rate will prove to be the best possible system that can be devised for the common good of all.”
  9. A railroad company subject to the “Interstate Commerce Law” charges a much lower rate from New Orleans to San Francisco, for goods which have been imported than for like goods of domestic manufacture. What is the decision of the courts as to the legality of such a charge? What is the economic justification for the decision?
  10. What do you regard as the greatest defects of the “Interstate Commerce Law,” as at present interpreted, and what legislation should you suggest to remedy such defects?
  11. What is the “railway problem”?

Sources: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97. Copy also in Harvard University Archives. Harvard University, Examination papers, 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College. June 1897, pp. 41-42.

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Economics 61
History of Tariff Legislation in the United States,
1896-97

Course Announcement

[Economics] 62 [sic] hf. History of Tariff Legislation in the United States. Half-course. Tu., Th., at 2.30, and a third hour at the pleasure of the instructor (second [sic] half-year). Professor Taussig.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 61. Professor Taussig. — History of Tariff Legislation in the United States. Hf. 2 hours. 1st half-year.

Total 74: 7 Graduates, 39 Seniors, 20 Juniors, 3 Sophomores, 5 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 66.

Economics 61.
Final Examination,
1896-97

[Arrange your answers strictly in the order of the questions. Answer all the questions.]

  1. How was the course of commercial history between 1789 and 1810 connected with customs legislation and with the state of opinion on the tariff during the same period?
  2. What were the “abominations” of the tariff act of 1828? What became of them?
  3. Was there similarity between the stages in tariff policy reached by England and by the United States in 1846?
  4. “The ultimate reduction of the price of American to that of the British rolled iron can only, and ultimately will, be accomplished in that western region, which abounds with ore, and in which is found the most extensive formation of bituminous coal that has yet been discovered in any part of the globe.” — Gallatin, in 1832.
    What were the conditions as to the production of iron in the United States when Gallatin wrote? When and how was his prediction fulfilled?
  5. When did the argument appear that protective duties serve to maintain a high rate of wages in the United States? Why at that time? How far do you think it sound?
  6. Why is no carpet wool raised in the United States? Why is no flax cultivated for fibre? Are high wages an obstacle to the production of such commodities?
  7. Was Webster a consistent advocate of free trade in 1824? Gallatin in 1832? Secretary Walker in 1846?
  8. Sketch the main features in the history of duties on wool and woollens from 1846 to 1896.
  9. Wool, pig iron, sugar, — on which would you now remit duties first, and on which last? Why? What are the present duties?

Source: Harvard University Archives. Harvard University Mid-Year Examination, 1852-1943. Box 4. Bound volume: Examination Papers, Mid-Years 1896-97.

Copy also in Harvard University, Examination papers, 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College. June 1897, pp. 42-43.

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ECONOMICS 81.
History of Financial Legislation in the United States

[81 hf. History of Financial Legislation in the United States. Half-course. Tu., Th., at 2.30, and a third hour at the pleasure of the instructor (first half-year). Professor Dunbar.]

Omitted in 1896-97.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

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ECONOMICS 162.
Selected Topics in the Financial History of the United States,
1896-97

Course Announcement

[Economics] *161 [sic] hf. Selected Topics in the Financial History of the United States. Half-course. Tu., Th., at 2.30(first half-year [sic]). Professor Dunbar.
Course 16 may be taken as a full course by Graduate Students and by candidates for Honors in Political Science.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 34.

Course Enrollment

[Economics] 62. Professor Dunbar. — Selected Topics in the Financial History of the United States. Hf. 2 hours. 2dhalf-year.

Total 21: 11 Graduates, 6 Seniors, 4 Juniors.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 66.

Economics 162.
Final Examination,
1896-97

  1. Under the present arrangement of our financial system how far is the original theory of the Independent Treasury Act of 1846 preserved?
  2. What are the considerations for and against the use of banks as government depositaries?
  3. Trace the steps by which the idea that redeemed notes might be reissued became familiar and was finally embodied in the existing law.
  4. How far was the successful resumption in 1879 the result of fortunate circumstances, not to be foreseen in 1875?
  5. What is the legal authority for receiving United States notes in payment of duties on imports?
  6. What would be the probable effect on the Treasury, if Congress were now to adopt a tariff producing ample revenue, without making any change in the currency legislation?
  7. In Secretary Sherman’s Report for 1879 “it is respectfully recommended that by law the resumption-fund be specially defined and set apart for the redemption of United States notes, and that the notes redeemed shall only be issued in exchange for or purchase of coin or bullion.”
    Trace the effect of such a provision in case of large exports of gold. How far would it have served to prevent the difficulties which have actually occurred since 1893?
  8. In his Report for 1889, Secretary Windom recommended the following measure: —
    “Issue Treasury notes against deposits of silver bullion at the market price of silver when deposited, payable on demand in such quantities of silver bullion as will equal in value, at the date of presentation, the number of dollars expressed on the face of the notes at the market price of silver, or in gold, at the option of the Government; or in silver dollars at the option of the holder. Repeal the compulsory feature of the present coinage act.”
    What was this measure expected to accomplish? How would its operation probably have differed from that of the Silver Purchase Act of 1890?

Source: Harvard University Archives. Harvard University Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1897, pp. 51-52.

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Economics 72.
The Theory and Methods of Taxation,
1896-97

Course Announcement

[Economics] *72 hf. The Theory and Methods of Taxation, with special reference to Local Taxation in the United States. Half-course. Mon., Wed., Fri., at 9 (second half-year). Mr. ——.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 35.

Course Enrollment

[Economics] 72. Professor Taussig. — The Theory and Methods of Taxation, with special reference to Local Taxation in the United States. Hf. 3 hours. 2d half-year.

Total 51: 6 Graduates, 17 Seniors, 18 Juniors, 5 Sophomores, 5 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 66.

Economics 72.
Final Examination,
1896-97

[Arrange your answers strictly in the order of the questions.]

  1. Which among the following would you call a “tax,” and why,—
    (a) an assessment for betterment (e.g. for a sidewalk) on real estate;
    (b) a liquor license;
    (c) the charge for a postage stamp;
    (d) the charge for tobacco in France;
    (e) the charge for a ticket on a Prussian railway.
  1. How far is there separation of local taxes on real estate from state taxes on real estate in France? in Prussia? in England? In American states? Which adjustment seems to you the best, and why?
  2. State the points of resemblance and the points of difference between the system of local taxation in England and the usual method of local taxation in the United States.
  3. Is a tax like the French personelle-mobilière adapted for use in American states? one like the Prussian Business Tax?
  4. Do you think progressive taxation to be sound in principle? Why? or why not?
  5. Point out similarities and differences between the methods of taxing the holders of securities in England and in Pennsylvania.
  6. What do you conceive to be the methods and effects of the taxation of mortgage debts in Massachusetts? in California?
  7. On what grounds would you approve or disapprove of taxes on inheritances and successions, levied by the several American states? of income taxes, similarly levied?
  8. “The statute in Massachusetts, which taxes corporations on their capital stock less the value of real estate and machinery, is indefensible. According to the Massachusetts law, corporations are taxable locally only on their real estate and machinery, while they are taxable for commonwealth purposes only on the value of their capital stock deducting the value of the machinery and the real estate, they are therefore taxed only once on their total property. Individuals, on the other hand, pay not only a general tax for state purposes, but also another general property tax for local purposes. Corporations thus are treated more leniently than individuals.” — Seligman.
    Is this an accurate statement of the legislation in Massachusetts? and are corporations more leniently dealt with than individuals?

One of the following questions may be substituted for any one of the preceding.

  1. What distinctions are made, in the process of assessment under the Prussian income tax, between incomes under 3000 marks and those above?
  2. How are state and local control combined in the assessment of income taxes in Prussia? in England?

Source: Harvard University Archives. Harvard University, Examination papers, 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College. June 1897, pp. 43-44.

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Economics 71.
Financial Administration and Public Debts

[[Economics] *71 hf. Financial Administration and Public Debts. Half-course. Tu., Th., Sat., at 11 (first half-year). Professor Dunbar.]

Omitted in 1896-97. Courses 71 and 72 are usually given in alternation with Courses 121 and 122.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 35.

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Economics 121.
Banking and the History of the Leading Banking Systems

Course Announcement

[Economics] *121 hf. Banking and the History of the leading Banking Systems. Half-course. Tu., Th., Sat., at 11 (first half-year). Professor Dunbar.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 35.

Course Enrollment

[Economics] 121. Professor Dunbar. — Banking and the History of the leading Banking Systems. Hf. 3 hours. 1st half-year.

Total 47: 1 Graduate, 18 Seniors, 24 Juniors, 4 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 66.

Economics 121
Final Examination,
1896-97

  1. If, as McLeod says, all modern banks are banks of issue, how is it that discussions and legislation about banking are chiefly taken up with questions as to bank notes?
  2. When can a note currency be said to be elastic, and what is necessary to give it that quality? Illustrate by actual cases.
  3. Name as many banking systems as you can, which
    (a) protect creditors by a stockholders’ liability of any sort; or
    (b) protect notes by a prior lien on assets.
  4. What advantages are derived from the system of branch banks, and where is it used?
  5. Which of the great banks, — the Bank of England, the Bank of France, the Reichsbank, —  appears to have the best title to be called a government bank?
  6. Suppose that, in a country having well developed banks, a large issue of inconvertible legal tender notes should be made; in what way should you expect its inflating effect upon prices and credits to be produced?
  7. How is the unequal distribution of national banks in the United States, during the years when banking under the national act was most profitable, to be explained?
  8. The following items being given, viz. :
Public Deposits £7.7 Other Securities £30.0
Other Deposits £48.0 Notes in circulation £28.1
Government Securities £20.7 Coin and Bullion £40.4
Government Debts £11.0

construct a Bank of England account, with its separate Departments of Issue and Banking.

  1. Why is it that a comparison of the English country bank circulation with the Scotch shows that one is gaining while the other is dying out?
  2. Under the German bank act what are the two requirements as to holding cash? What is counted as cash under these requirements respectively? Under what conditions does a bank find one or the other of these requirements practically inoperative?
  3. The account of the Bank of France may be simplified as follows:—
Cash, Surplus, and Profits fr. 225. Loans and Investments fr. 1.141.
Sundries fr. 72. Government Securities fr. 353.
Deposits fr. 822. Sundries fr. 75.
Notes fr. 3.612 Cash fr. 3.162.
fr. 4.731. fr. 4.731.

How much of its circulation could the bank pay off and yet earn its present profit? State the account as it would appear if such a change were made?

Source: Harvard University Archives. Harvard University, Examination papers, 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College. June 1897, pp. 47-48.

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Economics 122.
International Payments and the Flow of the Precious Metals,
1896-97

Course Announcement

[Economics] *122 hf. International Payments and the Flow of the Precious Metals. Half-course. Tu., Th., Sat., at 11(second half-year). Professor Dunbar and Mr. Meyer.
Courses 121 and 122 are usually given in alternation with Courses 71 and 72.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 35.

Course Enrollment

[Economics] 122. Professor Dunbar and Mr. Meyer. — International Payments and the Flow of the Precious Metals. Hf. 3 hours. 2d half-year.

Total 20: 9  Graduates, 2 Seniors, 6 Juniors, 3 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 66.

Economics 122.
Final Examination,
1896-97

It is expected that one-half of the time of this examination will be required for the questions in division A of this paper.

A.

  1. It is often said that the resumption of specie payments by France and by the United States and the adoption of the gold standard by Germany made nearly simultaneous demands upon the world’s stock of gold. Discuss this statement at length.
  2. The transfer of international securities,
    (a) during the funding operations of the United States, 1872-79;
    (b) as a consequence of the French Indemnity payments.
    Take one of these two cases.
  3. The conditions which led to the flow of gold to the United States,
    (a) in 1896;
    (b) in the fiscal years 1880 and 1881.
    Take one of these two cases.

B.

  1. What were the contributions of Ricardo, Mill and Cairnes, respectively, to the discussion of the laws determining the exchange of commodities between nations?
  2. To what extent are the principles involved in exchanges of goods and services between nations also applicable in domestic exchanges?
  3. Describe the” triangular” operation in exchange between three countries, whereby an export of specie may take place from one of them before the price of exchange has fallen to the shipping point. Illustrate by an actual case.
  4. Explain the difference in rates for long exchange as compared with short, and show the conditions under which an unusual divergence of rates may exist. Illustrate by an actual case.
  5. Why is it that in the dealings between England and other countries bills of exchange are chiefly drawn upon England and few are drawn by her upon others? How are the transactions between England and the United States adjusted, when the bills are for the most part drawn by us upon England?

Source: Harvard University Archives. Harvard University, Examination papers, 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College. June 1897, pp. 48-49.

_____________________

 

Primarily for Graduates.

Economics Seminary Announcement

[Economics] 20. Seminary in Economics. Mon., at 4.30.
Professors Dunbar, Taussig, and Ashley and Asst. Professor Edward Cummings will guide competent students in research on topics assigned after consultation. The Seminary will hold weekly meetings; and in addition each student will confer once a week, with the instructor under whose guidance he carries on his investigations.

Source: Harvard University. Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1896-1897, p. 35.

Economics Seminary Enrollment

[Economics] 20. Professors Dunbar, Taussig, and Ashley and Asst. Professor Edward Cummings. — Seminary in Economics.

Total 20: 17 Graduates, 2 Seniors, 1 Other.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1896-97, p. 66.

Image Source: Memorial Hall, Harvard University. From Library of Congress Prints and Photographs Division Washington, D.C.

 

 

 

 

Categories
Economics Programs Harvard Teaching

Harvard. Haberler and Chamberlin fight over last-minute course changes, 1942-43

Exogenous shocks are really useful for finding out how the economy works. They also help dear colleagues reveal themselves when their private interests conflict with those of other colleagues in particular or with departmental needs in general. The U.S. entry into the Second World War forced several adjustments in the graduate and undergraduate instructional staffing at the Harvard economics department.

This post provides some light on the time Gottfried Haberler was asked to teach the first of the two term graduate economic theory sequence for the academic year 1942-43. The course was a direct descendent of Frank Taussig’s Economics 11 (the expansion of course offerings over the decades required moving into 3 digits for some course numbers and a zero was dropped into the middle of “Economics 11” to obtain “Economics 101”). At the last minute Chairman Edward Chamberlin decided that he wanted “his” course back for both semesters but Gottfried Haberler was clearly not one to go quietly. And so we witness the performance of an academic drama before colleagues, of Professor X and Professor Y claiming conflicting rights to a particular course.

The record presented here is incomplete. I have been unable to find Haberler’s written plea on his own behalf. Reading the material one might think that Chamberlin got his way and Haberler was left to find another course to satisfy his annual teaching obligation. However, a look into the annual report of the President of Harvard College for 1942-43 finds that as far as the staffing of Economics 101 in 1942-43 goes, ex ante equals ex post. The course was ultimately divided that year between Messrs. Haberler and Chamberlin.

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Economics 101: syllabi (with links to most readings) and examinations for fall and spring terms 1941-42 taught by Edward Chamberlin.

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Who ended up teaching what 1942-43

Edward Chamberlin

Economics 1a. First term, undergraduate course “Economic Theory”.

Economics 102b. Second term, graduate course “Monopolistic Competition and Allied Problems”.

Co-taught Economics 101 with Gottfried Haberler. Full-year graduate course “Economic Theory”. Presumably Haberler taught the first term and Chamberlin taught the second term.

Gottfried Haberler

Economics 18b. Second term, undergraduate course on the Economic Aspects of War,

Co-taught Economics 45a with Alvin Hansen. First term, undergraduate course  “Business Cycles”.

Economics 144. Graduate School of Public Administration Seminar “International Economic Relations”.

Co-taught Economics 101 with Edward Chamberlin. Full-year graduate course “Economic Theory”. Presumably Haberler taught the first term and Chamberlin taught the second term.

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Ex Ante Course Announcement

Economics 101. Economic Theory

Mon., Wed., and (at the pleasure of the instructors) Fri., at 12. Professors Chamberlin and Haberler.

Source: Final Announcement of the Courses of Instruction offered by the Faculty of Arts and Sciences during 1942-43. Official Register of Harvard University, Vol. XXXIX, No. 53 (September 23, 1942), p. 55.

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Ex Post Course Enrollment and Staffing

[Economics] 101. Professors Chamberlin and Haberler. — Economic Theory.

Total 24: 16 Graduates, 4 School of Public Administration, 1 Graduate Business School, 3 Radcliffe.

Source: Harvard University. Report of the President of Harvard College 1942-1943, p. 47.

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Presumably the statement prepared by Edward Chamberlin (referring to himself in the third person)

October 9, 1942

Course Economics 101 was announced in the catalogue for 1942-3 to be given jointly by Messrs. Chamberlin and Haberler. This arrangement was never considered as final but was subject to adjustment at the beginning of the college year in view of the general uncertainty as to the status of such of the graduate instruction until enrolments in various courses were known. (In particular, it seemed likely that either 102b or 163 or both might be bracketed, thus freeing either one half or one full course of Mr. Chamberlin’s time). It was, however, agreed between Mr. Haberler and Mr. Chamberlin that, in case the course were given jointly, Mr. Haberler would give the first half year and Mr. Chamberlin the second. Several times prior to the opening of college Mr. Haberler asked Mr. Chamberlin about the status of the course and was told that unfortunately nothing final could be decided until enrolments were known; it was agreed, however, that Mr. Haberler would take the first meeting, or meetings, of the course until a decision was reached. The matter was mentioned on Friday morning, October 2, at a casual meeting between classes at which time, since no final decision had been taken, Mr. Chamberlin said that it was still possible that the arrangement might stand. On Saturday, October 3, a final decision to take back the course was communicated to Mr. Haberler after considering a number of factors, among which were the following:

  1. The enrolment in Economics 102b was only two, plus five auditors. This course had always been given in the second semester, thereby opening it to the first year students who had had the first semester of 101. The bracketing of 163 made it possible to revert to this disposition of 102b, (or to bracketing it later on if this seemed necessary). The chief obstacle to Mr. Chamberlin’s giving the first half and therefore all of 101 was thereby removed.
  2. The class list of 101, received Friday afternoon, revealed that of 16 [or 18?] student then enrolled in the course all but two were foreigners. Many of these would have serious problems of adaptation to academic work in a new language and in a new country, and it seemed for the reason especially desirable to unify the introductory course in theory under one direction during the current year.
  3. During the past, two years the course had, for better or worse, been split both vertically and horizontally, not by action of the department but on the initiative of Mr. Chamberlin. This was done in part to open greater possibilities for discussion through smaller sections, and in part to share the course with others who wanted very much to teach theory. At no time during that period had Mr. Chamberlin given less than a full year of the course, and its outline and organization had always been his. It was his sincere belief that now that the course was again of manageable size the department would wish it to be given as it had directed earlier, and that he was fully competent to make the decision. At that time the work of the year had not really begun.

However, Mr. Haberler objected so strongly to the change that in order to settle the matter amicably, Mr. Chamberlin proposed on Sunday afternoon, and Mr. Haberler agreed, that the matter be left to a committee composed of Professor Crum as Chairman and other members to be chosen by Professor Crum. As this Committee could not possibly be assembled and give a decision before the Monday meeting of the course it was agreed that Mr. Haberler would take that meeting and that the Committee shouId render a decision before the Wednesday meeting. The decision was in fact rendered Tuesday afternoon and was unanimous that Mr. ChamberIin should give the course, When apprized of this decision, Mr. Haberler said he would like time to consider whether or not he was willing to accept it. From this point on Mr. Chamberlin became a passive duopolist, leaving all initiative to Mr. Haberler, who proposed that he take the Wednesday meeting of the course, finishing matters which he had begun on Monday, give a cut on Friday (there was a holiday the following Monday), and decide sone time before the Department meeting whether or not he would like to bring the matter before the Department. Meanwhile, the Committee had decided that certain questions which it had discussed apart from the immediate issue should be brought before the Department at its meeting October 13th. Mr. Haberler’s final decision on Thursday was that if the Department is going into the whole theory question anyway, they should also decide on the present status of Economics 101.

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Chairman Chamberlin announces his attention to return statement with statement

October 10, 1942

Dear Leonard [Crum]:

It has occurred to me that, since Haberler has given you in writing a statement of the facts as he sees them, I might, even at this late date do the same. My own statement will add some details and perhaps present a different emphasis at one or two points It may be used at your discretion in whatever way you think best, (including, of course, the possibility of no use at all beyond your own reading). I am sending a copy to Haberler.

Sincerely,

E. H. Chamberlin

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Chairman Chamberlin makes his written statement available to the department

October 17, 1942

To Members of the Department of Economics:

In view of the fact that Professor Haberler’s statement with respect to Economics 101 had some circulation prior to last Tuesday’s meeting and was also read in the meeting, whereas my own statement has to this moment been seen only by Professor Crum and one other member of the Department, I should like now to make both equally available to any who may wish to consult them. Accordingly, they will both be found in the blue folder in Mrs. Arnold’s office. Also in the blue folder are: (1) The minutes of the last three meetings, and 2) The report of the Chairman to the Dean of the Faculty covering the work or the Department for the past year.

Chairman [Chamberlin]

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Special Committee sides with Chamberlin

CONFIDENTIAL

(for use of Department
of Economics officers
only)

Report of a Special Committee
on the assignment for teaching Economics 101.

13 October, 1942

On Monday, October 5, the Chairman of the Department brought to my notice a personal disagreement between himself and Mr. Haberler concerning the assignment for teaching Economics 101, and asked that I serve as Chairman of a Special Committee to “arbitrate” in the case, and report before the meeting of Economics 101 on Wednesday the 7th. I was instructed to associate with myself such members of the Department as I saw fit in making up the Committee. I asked Mr. Burbank, formerly Chairmen of the Department, to be a member, and also four other members of the Department who have at present no active part in the teaching of economic theory and whose views on the matter at issue were unknown to me. One of these individuals was unable to serve because of his inability to meet with the Committee at any time available for meeting within the interval during which action had to be taken. The Committee, therefore, was made up as follows: Crum, Chairman, Black, Burbank, Dunlop, and Usher.

The Committee met and considered to the best of its ability all aspects of the case, and herewith reports certain recommendations to the Department for such action as it wishes to take. The Chairman of the Committee reported on Tuesday afternoon the 6th to Messrs. Chamberlin and Haberler the findings of the Committee in outline form because the Chairman thought that the two individuals concerned might have agreed to abide by the finding of the “arbitration” and might be willing to put the findings into effect immediately. The Chairman of the Committee did, however, report to both participants in the controversy that he did not regard the Committee as being clothed with any conclusive authority and that unless the participants in the controversy both accepted the findings of the Committee those findings would have to go to the Department as recommendations and would be subject to such action as the Department saw fit to take.

Statement of the issues.

Course Economics 101 is announced in the spring issue of the current Courses of Instruction pamphlet as to be given jointly Messrs. Chamberlin and Haberler, and I am informed that they had during the summer agreed among themselves that, in case the course was given jointly, Mr. Haberler would give the course during the first half year and Mr. Chamberlin during the second. Late in the week in which instruction of the present half year began Mr. Chamberlin indicated to Mr. Haberler that he thought the entire course should be given by Mr. Chamberlin. Mr. Haberler objected to any such change and insisted that he continue to give the course during the first half year. The issue, accordingly, was whether the conduct of the course should go forward on the basis of joint responsibility of Mr. Haberler in the first half year and Mr. Chamberlin in the second half year, or should be restored to the basis prevailing for several years in which Chamberlin gave the full course.

History of the case.

After the retirement of Professor Taussig, Course 101 (formerly called Course 11) was given for several years by Mr. Schumpeter by an arrangement which was understood to be provisional and subject to later change. At the end of this interim, after extended consideration of the needs and purposes of the Department with respect to the teaching of the several courses in economic theory, the Department took specific action directing Mr. Chamberlin to teach Course 101. At the same time arrangements were agreed upon by which several other specialists in economic theory in the staff of the Department participated in the instruction in economic theory. Presently the enrolmont in Course 101 became so large that its conduct as a single course by the discussion method became difficult; and, without specific vote of the Department, the course was divided into two sections, with one conducted by Mr. Chamberlin and Mr. Taylor in 1940-41 and by Mr. Chamberlin and Mr. Leontief in 1941-42, the other by Mr. Haberler and Mr. Chamberlin in both years.

With the decline in enrolment which has occurred, no occasion for such splitting of the course persists, and it has long been forseen that Economics 101 would be conducted as a single section during the present year. In recognition of this, an arrangement was made, without specific action by Department vote, to announce Economics 101 for the present year as to be given jointly by Messrs. Chamberlin and Haberler. At the time this arrangement was made the expectation was that Mr. Chamberlin would be giving during the first half year Economics 1a and Economics 102b and that he should not be called upon to carry the additional instruction involved in teaching Economics 101 during the first term.

The initial enrolment in Economics 102b was so small that the course has been withdrawn from the first term offering, and although it is announced for the second term doubt remains whether the enrolment will be sufficient even then to warrant giving it. In recent months, various changes in personnel of the Department and the necessity of distributing the teaching and other load in all branches of the Department work as fairly and efficiently as possible have resulted in various changes in the assignments of particular officers to particular duties. In these circumstances it became possible for Mr. Chamberlin to resume during the first term instruction in Economics 101 without making his course load excessive.

In connection with the controversy, the Chairman of the Committee had a conversation with Mr. Chamberlin in which the latter presented his own views concerning the history of the case and the points at issue. Mr. Haberler submitted a written statement to the Chairman of the Committee setting forth his ideas on the matter. Those items were brought to the attention of the Committee by its Chairman. Following the meeting of the Committee, Mr. Chamberlin also submitted a written statement to the Chairman of the Committee. Either or both of the written statements will be laid before the Department on request.

Meeting of the Committee.

The Committee met on Tuesday, October 6. The Chairman gave the Committee a history of the case and a summary of the information available bearing upon the point at issue. The Chairman also informed the Committee that he did not understand that the Committee had any conclusive powers and would be obliged to report its findings in the form of recommendations to the Department.

The Chairmen specifically urged the Committee, therefore, in proceeding toward its findings to consider the wisdom of bringing in findings which, in its opinion, would probably be supported by the Department. The Chairman reminded the Committee that adequate treatment of the particular matter at issue might well involve (a) recommendations by the Committee concerning certain related matters affecting other courses; and (b) recommendations by the committee concerning certain longer run matters relating to the general question of our offering in economic theory. The Chairman discussed with the Committee certain basic principles bearing upon the case, and received the concurrence of all the members of the Committee in these principles. They are outlined below.

The Committee then proceeded to discuss the matter at issue and various related matters. Discussion by the members of the Committee was free and active and the Chairman made a special effort to call forth the views of each member of the Committee. After this discussion the Committee agreed upon a set of recommendations to be made to the Department, and to be reported to Messrs. Chamberlin and Haberler in the hope they would accept the findings. The agreement of the Committee was unanimous. Those recommendations are presented below.

Basic principles.

In approaching a set of findings with respect to the issues raised the Committee had in mind a series of basic principles in which members of the Committee concurred. Those are as follows:

(a) Because of its compressed personnel in wartime and because of the extraordinary wartime adjustments needed in its work: the Department has a peculiarly difficult task of assigning functions to its various officers with a view to getting the essential work of the Department done with such distribution of the burden as will be primarily efficient from the point of view of the Department and secondarily fair from the point of view of the individuals.

(b) Even in peacetime the needs of the Department and the objective of securing maximum efficiency in the performance of Department work transcend the interests and preferences of individual officers. Although in peacetime many concessions can be made with a view to accommodating the preferences and interests of individual officers and with a view to protecting the rights or supposed rights of individual officers, the Department would in general not recognize that such individual interests can overrule the general interest of the Department. In wartime this condition is even more emphatically true, and in such time the individual preferences and interests may be obliged to give way to the general interest of the Department more frequently and more extensively than in normal times. Throughout the duration of the war many if not all of the officers of this Department will be doing work which they prefer not to do and will be denied the opportunity to do work which they would like to do. Without such sacrifices the essential work of the University cannot be effectively handled in wartime.

(c) The Department and the University cannot afford to allow the general interest to be sacrificed because of informal commitments or quasi agreements made among individual officers when such agreements fail to take adequate account of the general interest of the Department, even though those who made the agreements acted in good faith. That agreements thus made may from time to time have to be set aside in the interest of the Department, and that such setting aside may involve some sacrifice by one or more individuals involved must be accepted as one of the costs of giving primary importance to the general interest of the Department. Ordinarily it is to be expected that individuals will refrain from making arrangements for which they have no power under the law of the Department; but ever if such arrangements are entered into under a grant of power, the individuals concerned must recognize that the Department itself has a clear right to final determination at one of its meetings.

(d) To the best knowledge of the Committee, the purpose of the Department with respect to the assignment of instruction in Course 101 remains as it was last officially determined by Department vote several years ago, namely, that Course 101 should be given by Mr. Chamberlin.

(e) Under the stress of war the Department may be obliged to sacrifice in part some branches of its work, and the Committee believes that graduate instruction will probably need to be sacrificed before instruction in undergraduate courses, tutorial instruction, and other Department work directed toward the teaching of undergraduates. A policy which exposes graduate instruction to the principal sacrifices is also likely to result in the most frequent disregard of personal preferences and even of supposed rights of individual officers; but presumably the Department would nevertheless feel that such a policy must be adopted and maintained.

Recommendations to the Department.

After considering the facts laid before it in connection with the matters at issue and in the light of its own agreement on basic principles, the Committee agreed unanimously to present the following recommendations to the Department at its meeting on Tuesday, October 13, and to report these recommendations at once to the parties in the controversy:

(a) That during the present year Mr. Chamberlin be assigned to conduct the entire Course 101.

(b) That, in view of chancing conditions which may mean that the Department’s present total offering in economic theory covering the entire range of courses in that field does not most satisfactorily meet the needs of instruction in that field, the Department promptly and earnestly reconsider the total offering with a view to making such changes as may be necessary in the next announcement of courses. The Committee makes no recommendation as to how the reconsideration should be conducted, whether by the appointment of a committee or by general Department discussion or by a combination. It also makes no specific recommendation as to any changes in the present offerings of courses, but merely notices that such a general reconsideration may well cover the possibility that Mr. Haberler might be asked to give work in economic theory.

(c) The Committee recommends that the Department consider asking Mr. Haberler to take charge of an additional half course during the present academic year, with a view to replacing the first half of Course 101 in rounding out his teaching assignment. The Committee specifically recommends that Course 18b be considered as one of the possibilities for additional instruction by Mr. Haberler; and makes this recommendation because on the one hand the Committee feels that the hurried arrangement by which that course was assigned jointly to four officers won Mr. Harris withdrew may have been ill-advised in that use of too numerous instructors in such a course may damage the continuity from the point of view of the student; and on the other hand the Committee believes that Mr. Haberler’s areas of specialization would enable him to handle this particular course very effectively.

(d) The Committee recommends that the Department consider carefully the question whether in determining that the enrolment in a course is so small that the course should be withdraw only those enrolled for credit should be counted, or whether in addition the auditors should be counted (this question was raised before the Committee in connection with Course 102b in which the first term enrolment was two members for credit plus five others. Course 102b has been withdrawn from the first term offering, but will be announced again for the second term, and the question posed above may at that time again be raised).

W. L. Crumm

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Thus spake the Dean

HARVARD UNIVERSITY
CAMBRIDGE, MASSACHUSETTS

FACULTY OF ARTS AND SCIENCES

Paul Herman Buck, Dean
Henry Chauncey, Assistant to the Dean
Jeffries Wyman, Jr. Assistant Dean

5 University Hall

January 12, 1943

To the Senior Members of the Department of Economics:

After considerable contemplation of the issue which has arisen between Professors Chamberlin and Haberler and which I have undertaken to arbitrate, I find I am in complete accord with the Report of a Special Committee on the assignment for teaching Economics 101, dated October 13, 1942. I commend especially as sound, the basic principles outlined on page 3 of that report and I accept as my official decision the recommendations to the Department given on page 4 of that report.

Frankly, it seems to me most unfortunate that the issue should have descended into personalities. The department should be prepared to face the large problems of policy which I have outlined in a letter to your Chairman which, I trust, will be read at your meeting tonight. Obviously those problems will not be solved intelligently and equitably if they are not approached with a vision directed to the loyalties of one’s subject and university rather than to self. Is it asking too much to relegate the personal aspects of this issue to oblivion?

It seems to me very important so to do. I have taken a great deal of pride in the distinction of the Department of Economics at Harvard and I have spoken in many circles boastfully of having what seems to me one of the very few remaining great departments of economics in the world. Certainly the responsibility of keeping that department great and of enabling it to develop continuing leadership should be the major loyalty to which every other consideration is subordinate. The awareness of this responsibility and the opportunities it presents will preoccupy your time and energies. Let me conclude by saying that I have always had and retain confidence in the intelligence, initiative, devotion. and cooperative spirit of your membership. I write this with all the more assurance because I know so many of you intimately and appreciate from personal friendship the qualities I have mentioned.

Very truly yours,
[signed]
Paul H. Buck

 

Source: Harvard University Archives. Department of Economics, Correspondence & Papers 1902-1950. Box 25. Folder “Graduate Instruction in Theory. Economics 101. 1942-43.

Categories
Exam Questions Harvard

Harvard. Economics and Social Ethics Semester Examinations, 1895-96

 

Professor Charles Dunbar had a leave of absence for the 1895-96 academic year at Harvard. His courses on public finance were taught by Dr. John Cummings and Dr. J.A. Hill. Professor Frank Taussig returned from his year leave of absence for 1894-95 and taught (among other courses) the history of financial institutions, Dunbar’s second field of specialization.

___________________________

1895-96.
The Ethics of the Social Questions.

Course Enrollment for Philosophy 5

For Graduates and Undergraduates:—

[Philosophy] 5 . Professor Peabody. — The Ethics of the Social Questions. — The problems of Poor-Relief, the Family, Temperance, and various phases of the Labor Question in the light of ethical theory. — Lectures, special researches, and required reading. 3 hours.

Total 88: 7 Graduates, 49 Seniors, 12 Juniors, 2 Sophomores, 18 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 60.

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Mid-Year Examination

1895-96.
PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.

[This paper should be considered as a whole. The time should not be exhausted in answering a few questions, but such limit should be given to each answer as will permit the answering of all the questions in the time assigned.]

  1. What is meant by;

Exogamy;
Marriage by capture;
The Patriarchal theory;
“The family is the unit of civilization”?

  1. The stability of the family as affected by:

(a) city life.
(b) the conflict of State laws.
(c) the philosophy of individualism.
(d) the philosophy of collectivism.

  1. Spencer’s view of the regime of the family in relation to the regime of the State (Principles of Sociology I, 707 pp.), with criticisms.
  2. The distribution of wealth in Great Britain or in the United States, statistically illustrated; and its lessons,
  3. Illustrate the indirect economic value of judicious charity.
  4. Charles Booth’s Class B in East London; its character, dimensions, relation to the general problem of poverty, and suggested treatment. Life and Labor of the People, I, 39-44; 162-169.)
  5. The new inquiry undertaken by Mr. Charles Booth (Vol. V and VI, 1895); its relation to the preceding researches and its confirmation of earlier results.
  6. “What is good in the poor-administration of Germany is due to good citizenship. … We have not citizenship enough to administer it.” (C. S. Loch, Parliamentary Report of 1888, p. 88.) Compare, in the light of this comment, the English and German theories of municipal relief.
  7. The influx to the great cities in its effect on methods of poor-relief.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.

[This paper should be considered as a whole. The time should not be exhausted in answering a few questions, but such limit should be given to each answer as will permit the answering of all the questions in the time assigned.]

  1. Explain and illustrate, briefly, what is meant by:

“The social questions are ethical questions.”
“The correlation of the social questions.”

  1. The doctrines of social progress in Carlyle and in Ruskin compared in their bearing on the modern industrial situation.
  2. Consider the principle of social labour-time as the standard of value:

(a) Mr. Ruskin’s theory of value;
(b) The plan proposed by scientific socialism (Schäffle, p. 81);
(c) Schäffle’s criticism of this view (ch. VI., VII.);
(d) Your own judgment.

  1. “Socialism has no necessary affinity with any forms of violence, or confiscation, or class selfishness, or financial arrangement. … The aim of socialism is the fulfilment of service; the aim of individualism is the attainment of some personal advantage, riches, or place, or fame.” — Bishop Westcott.
    “Socialism, as I understand it, is any theory of social organization which sacrifices the legitimate liberties of individuals to the will or interest of the community.” — Professor Flint.
    Which of these definitions appears to you more justified by the history and tendency of socialism? What do you understand to be the “quintessence” of socialism?
  2. The economic and ethical criticisms commonly urged against the programme of collectivism, and your estimate of their importance.
  3. The ethical place and lessons of:

Anarchism;
Communism;
Arbitration.

  1. Compare the plans of industrial unity illustrated by the Anzin collieries, the Val-des-Bois Mill, and the Hebden Bridge Mill.
  2. The coöperative movement in Great Britain, its principles, its expansion, and the conditions of success for the system in this country. In federalistic coöperation what should be, in your judgment, the principle of distributing the bonus?
  3. The polities and the ethics of the Maine liquor law (Fanshawe, VII.)

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Outlines of Economics.

Course Enrollment for Economics 1

Primarily for Undergraduates:—

[Economics] 1. Professors Taussig and Ashley, Asst. Professor Edward Cummings, and Dr. John Cummings. — Outlines of Economics. — Mill’s Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours.

Total 338: 3 Graduates, 35 Seniors, 91 Juniors, 161 Sophomores, 8 Freshmen, 40 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination

1895-96.
ECONOMICS 1.

  1. Is all wealth produced by labor?
  2. Compare the distinction between fixed and circulating capital with the distinction between auxiliary and remuneratory capital; and state why one or the other distinction is the more satisfactory.
  3. Are differences in profits from employment to employment similar in kind to differences in wages from occupation to occupation?
  4. In what way are differences of wages affected by the absence of effective competition between laborers? by its presence?
  5. What are the grounds for saying that rent is a return differing in kind from interest?
  6. Trace the effects of an issue of inconvertible paper money, less in quantity than the specie previously in use, on (1) the circulation of specie, (2) the foreign exchanges, (3) the relations of debtor to creditor.
  7. State Mill’s reasoning as to the mode in which, under a double standard, one metal is driven from circulation; and explain how the actual process differs from that analyzed by Mill.
  8. What are the grounds for saying that the gain of international trade does not come from the sale of surplus produce beyond the domestic demand?
  9. In what manner is the price of landed property affected by an increased quantity of money? by a rise in the rate of interest?
  10. Wherein does monopoly value present a case different from that of the usual operation of the laws of value?

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 1.

[Answer ten questions. Arrange your answers strictly in the order of the questions.]

GROUP I.
[At least one.]

  1. Explain the meaning of two of the following terms, — margin of cultivation; wages of superintendence; rapidity of circulation (as to money).
  2. Do profits constitute a return different from interest?
  3. Explain what is meant by the law, or equation, of demand and supply; and in what manner it applies to commodities susceptible of indefinite multiplication without increase of cost.
  4. In what manner does a country gain from the division of labor in its domestic trade? In what manner from international trade?

GROUP II.
[At least one.]

  1. Does it fall within the province of the economist to discuss the institution of private property?
  2. Show the connection between the industrial development of the present century, and the discussion among economists as to the functions of the entrepreneur.
  3. Consider in what manner prices, or rents, [choose one] are differently determined according as they are under the influence of custom or of competition.
  4. “The idea that economic life has ever been a progress mainly dependent on individual action is mistaken with regard to all stages of civilization, and in some respects it is the more mistaken the farther we go back.” Explain and criticize.

GROUP III.
[At least one.]

  1. If coöperation were universally adopted, what would be left of the wages system?
  2. Is there anything in what you learned as to the laws governing wages, which the action of the English trade-unions in regard to wages has disregarded?
  3. Has the course of events justified Mill’s expectations in regard to the development of profit-sharing and of cooperation? Explain why, or why not.
  4. Describe the trade and benefit features of the English trade-unions.

GROUP IV.
[At least three.]

  1. Is the present position of the Treasury of the United States in any respect essentially similar to that of the Issue Department of the Bank of England? In any respect essentially dissimilar?
  2. What is the test of over-issue, as to inconvertible paper money? What light does the experience of the United States and of France throw on the probability of over-issue?
  3. Arrange in their proper order the following items in a bank account:
Capital 100,000 Bonds and Stocks 75,000
Specie 150,000 Surplus 50,000
Notes 100,000 Other Assets 50,000
Loans 400,000 Other Liabilities 60,000
Expenses 25,000 Undivided Profits 40,000
Deposits 350,000

Could this bank be a national bank of the United States? If such a bank, how would the account stand?

  1. Compare the policy of the Bank of England in times of financial crisis with the policy of the Associated Banks of New York; and give an opinion as to which is the more effective in allaying panic.

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Economic Theory from Adam Smith to the present time.

Course Enrollment for Economics 2.

For Graduates and Undergraduates:—

[Economics] 2. Professors Ashley and Macvane. — Economic Theory from Adam Smith to the present time. — Selections from Adam Smith and Ricardo. — Modern Writers. —Lectures. 3 hours.

Total 37: 5 Graduates, 14 Seniors, 7 Juniors, 4 Sophomores, 7 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination.

1895-96.
ECONOMICS 2

N.B. — Not more than seven questions must be attempted.

  1. Compare the Aristotelian conception of Wealth with that of modern economists.
  2. Explain the growth, in the later Middle Ages, of the theory of “Interest.”
  3. Consider briefly the claims to consideration, in the history of economic thought, of Nicholas Oresme and Antoine de Montchrétien.
  4. “It was reserved for the eighteenth century to let in the grand idea of necessity, and to prove that the rate of wages established in a country was the inevitable consequence of the circumstances in which that country was placed, and had no connection with the wishes of any individual, or, indeed, with the wishes of any class.” (Buckle, History of Civilization.) Consider this.
  5. Explain the “plan” of the Wealth of Nations, and consider how far it agrees with the contents of the work.
  6. State and discuss Adam Smith’s doctrine of the Component Parts of Price.
  7. “A man must always live in his work.” Discuss the accuracy of this proposition, and the use made of it by Adam Smith and later economists.
  8. The effect upon English economists in the seventeenth and eighteenth centuries of their observation of the United Netherlands.
  9. “Every candid reader knows that Mr. Malthus laid no stress on his unlucky attempt to give numerical precision to things which do not admit of it, and every person capable of reasoning must see that it is wholly superfluous to his argument.” (Mill). Consider this.
  10. With what justice can socialists claim the authority of Ricardo for their “iron law of wages”?

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

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Final Examination

1895-96.
ECONOMICS 2.

Take any three of the five questions.

  1. State your conclusions regarding the various definitions of Cost of Production. Are wages an element in Cost? Show whether economic cost and commercial (or employers’) cost may vary independently of each other.
  2. State briefly the views of Henry George, Marshall, and Boehm-Bawerk (or any other three writers) regarding the law of Interest. Give also your own conclusions.
  3. Set down carefully your conclusions as to the source and the law of Wages. Examine at least one opposing view.
  4. Explain and examine the Marginal Utility theory of Value. How is it reconciled with the observed connection between value and cost?
  5. Is a high level of wages in a country an obstacle to foreign trade?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
The Principles of Sociology.

Course Enrollment for Economics 3.

For Graduates and Undergraduates:—

[Economics] 3. Asst. Professor Edward Cummings. — The Principles of Sociology. — Development of the Modern State, and of its Social Functions. 2 hours.

Total 37: 8 Graduates, 21 Seniors, 6 Juniors, 2 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination.

1895-96.
ECONOMICS 3.

(Arrange your answers in the order of your questions. Omit one.)

  1. “Hence, in this case we may assert clearly that when the individual is removed the social ceases to be, and that there is absolutely nothing in society which does not exist in a state of subdivision and continual repetition in the living individuals, — or which has not existed in the dead ancestors from whom the living proceed.” Explain carefully. Compare this conception of society with the “social organism” conception, and state clearly your own views.
  2. What do you conceive to have been the habits and characteristics of primitive man in “a state of nature”? Discuss the evidence presented by Westermarck, Spencer, and others.
  3. “In a word, the physiological bond, which of old constituted the main foundation of the small domestic societies, then of the tribes, then of the ancient cities, is still the essential foundation of the great nations of today.” Explain carefully. What according to Spencer, have been the merits and defects of the various forms of family organization? What are the present tendencies?
  4. “Entangled and confused with one another as Ceremonial and Fashion are, they have thus different origins and meanings.” Explain. Trace carefully the significance of these differences, and give examples.
  5. “Class distinctions, then, date back to the beginnings of social life.”
  6. In what order have political institutions evolved? What have been the chief determining factors?
  7. “M. Alfred Fouillée has endeavored to express the truth of both ways of regarding society by saying that the highest form of it must be an ‘organism contractuel,’ — a formula that may perhaps gain more general acceptance than anything expressed in the phraseology of German idealism.” Explain carefully.
  8. Discuss the views of Spencer and of Comte in regard to the scope of sociology and its relation to other sciences

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

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Final Examination

1895-96.
ECONOMICS 3.

Answer the questions in the order in which they stand. Give one hour to each division.

I.

A critical estimate of Giddings’ Principles of Sociology, — contrasted (a) with Spencer, (b) with Tarde.

II.

A critical estimate of Evolution and Effort, — contrasting it with views set forth in Social Evolution.

III.

The bearing of sociological theory upon the practical problems of (a) poverty, (b) pauperism, (c) crime.
Which of the books read during this half-year (and not already discussed) has seemed to you of greatest worth? Why?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
The Theory of Statistics.

Course Enrollment for Economics 42.

For Graduates and Undergraduates:—

[Economics] 42. Dr. John Cummings. — The Theory of Statistics. — Applications to Social and Economic Problems. — Studies in movements of Population. Hf. 3 hours. 2d half year.

Total 19: 2 Graduates, 11 Seniors, 4 Juniors, 2 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 4.

(Divide your time equally between A and B.)

A
I and II may be treated as one question.

  1. What do you understand by “movement of population”? What light do Statistics throw upon the law of population as stated by Malthus?
  2. What are some of the “more striking facts and more pregnant results of the vast growth of population in Europe, America, and the British Colonies within the last half century”?

B.
Take five.

  1. In constructing a life table what correction must be made for abnormal age and sex distribution of the population?
  2. Define the following terms: “Mortality,” “Expectation of Life,” “Mean Duration of Life.” How should you calculate the mean duration of life from the census returns for any community?
  3. How should you calculate the economic value of a population?
  4. What are some of the inaccuracies to which censes enumerations are liable?
  5. What is the nature of a statistical law? of what categories of social phenomena may statistical laws be formulated? in what sense are they laws? How do they bear upon freedom of the will in human conduct?
  6. How do the conditions of observation in social sciences differ from conditions of observation in the natural sciences?
  7. What do you understand by the law of criminal saturation?
  8. By what considerations should the Statistician be guided in in making selection of social phenomena for investigation?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Railway Transportation.

Course Enrollment for Economics 51.

For Graduates and Undergraduates:—

[Economics] 51. Professor Taussig. — Railway Transportation. — Lectures and written work. Hf. 3 hours. 1st half year.

Total 43: 6 Graduates, 27 Seniors, 7 Juniors, 3 Law.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

 

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Final Examination

1895-96.
ECONOMICS 5.

  1. The means of transportation in the United States in 1855.
  2. Is there historical warrant for the assertion that in United States the construction and operation of railways have been left mainly to private enterprise?
  3. The resemblances and differences between the legislation of Iowa on maximum rates, and that of England.
  4. Are there good grounds for alarm at the tendency to consolidation and the growth of great systems among railways?
  5. “There was never a more mistaken idea than the idea that rates would be reduced if they were based on cost of service. The principle keeps rates up. If it is strictly applied, it makes it necessary that each item of business should pay its share of fixed charges.” Why? or why not?
  6. “It is not true that when the price falls below cost of production, people always find it for their interest to refuse to produce at a disadvantage. It very often involves worse loss to stop producing than to produce below cost.” Why and how, as to railways?
  7. The provisions of the Interstate Commerce Act which bear on

an agreement to maintain certain rates;
an agreement to divide earnings;
a lower rate for one hundred carloads than for one carload;
a postage-stamp rate;
a higher rate for a shorter than for a longer distance.

  1. Does the history of pooling arrangements in the United States justify the assertion that they tend to remove inequalities in the rates to shippers?
  2. The lessons of public railway management in Italy and in France.
  3. The evidence as to the financial and economic success of public railway management in Prussia.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also found in: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
History of Tariff Legislation in the United States.

Course Enrollment for Economics 61.

For Graduates and Undergraduates:—

[Economics] 61. Professor Taussig. — History of Tariff Legislation in the United States. Hf. 2 hours. 1st half year.

Total 88: 11 Graduates, 40 Seniors, 20 Juniors, 5 Sophomores, 12 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 6.

Arrange your answers strictly in the order of the questions. One question, and one only, may be omitted.]

  1. What earlier legislation affected the provisions of the tariff act of 1789? What light does the earlier legislation throw on the character of this act?
  2. Was the argument for protection to young industries more applicable to cotton goods in 1816 than to silk goods in 1870?
  3. What changes were made, in 1833, in the duties on woollens, cottons, linens, and worsteds? Why the differences in policy?
  4. What were the grounds on which it was maintained, in 1828-32, that a tax on imports was virtually a tax on exports? How far was the assertion true?
  5. Mention points of similarity and points of difference between Webster’s speech of 1824 and Gallatin’s memorial of 1831.
  6. Should you say that the position of the protective system in public opinion was the same in 1870-90 as in 1816-32?
  7. Explain the legislation in regard to the duties on sugar in the acts of 1890 and 1894. Was the at of 1894 more advantageous than its predecessor to the planters? to the refiners? to the public?
  8. What do you believe would now be the effect, on domestic industries, of the free admission of (1) pig iron, (2) woollen goods, (3) linens?
  9. In what mode were the tea and coffee duties dealt with in the period 1840-60? in the period 1865-95? What explanation of the general course of policy can you give in either case?
  10. In what cases, if in any, are duties on imports a charge on the foreign producer?
  11. The significance of the events of 1860 for the tariff history of France and of England.
  12. Is there ground for saying that the drift since 1870 toward protective duties, in the United States and on the Continent of Europe, rests on the same general causes?

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also found in: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Financial Administration and Public Debts.

Course Enrollment for Economics 71.

For Graduates and Undergraduates:—

[Economics] 71. Dr. John Cummings. — Financial Administration and Public Debts. Hf. 3 hours. 1st half year.

Total 27: 1 Graduate, 8 Seniors, 12 Juniors, 1 Sophomore, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 7.

Divide your time equally between A and B. I and II may be treated as one question.

A.

  1. Give an account of the sinking fund provisions enacted by Congress 1790-1820; and of the management and refunding of the debt during this period.
  2. Examine and criticise the following account of the evolution of public credit, with a view to determining whether a government is ever justified in pledging the State to any definite policy of debt payment:—

“In this evolution, as in all others, there are transition stages: we have debts of long term, but secured by the pledging of public property or of income from taxes. Then we have a long period of redemption without such a pledge. The plan of discharging the debt simply on the ground of financial expediency, to which the debtor state has accustomed itself, presently takes the place of redemption simply at the instance of impatient creditors. Finally the question of redemption comes by mutual consent to be left entirely undetermined.”

B.

(Take any five of the questions following.)

  1. What effect upon the present worth of a security has lengthening the term for which it is to run?
  2. Give an account of the payment of the war indemnity to Germany.
  3. Discuss the “use and disuse of ‘relishes,’ gambling risks which are added in order to commend a public loan to the taste of creditors,” as a feature in the development of public credit.
  4. Compare the development of public credit in Prussia with that of Great Britain, at the beginning of this century.
  5. Examine and criticise the following selection:—

“As regards the relation of public control to the public credit, there is obviously a lone step taken in advance when the public control comes to he so employed as to not discriminate in its own favor.”

  1. [sic] Define the following terms, and illustrate: “budget,” “conversion,” “rolling annuity.”
  1. [sic] What influence has our Secretary of the Treasury over financial legislation, as compared with the influence of the English Chancellor of the Exchequer? Compare the manner of making up the estimates of public income and expenditure in England and in the United States; of appropriating funds out of the Treasury.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also found in: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
History of Financial Legislation in the United States.

Course Enrollment for Economics 82.

For Graduates and Undergraduates:—

[Economics] 82. Dr. J.A. Hill. — History of Financial Legislation in the United States. Hf. 2 hours. 2d half year.

Total 64: 5 Graduates, 22 Seniors, 18 Juniors, 6 Sophomores, 13 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

 

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Final Examination

1895-96.
ECONOMICS 8.

(N. B. — Omit one question under each of the five main divisions of the paper.)

I.

  1. Is the Independent Treasury System preferable to the use of banks as public depositories? Present the arguments on each side of the question, using any illustrations from the History of the United States that may occur to you.
  2. What illustrations does our financial history afford of difficulties that may arise from an exclusive reliance upon import duties as a source of revenue?

II.

  1. Describe the scheme which was adopted in 1790 for settling the accounts between the United States and the individual States. How did the assumption of the State debts affect the account?
  2. In what respects did the financial policy which the country pursued during the War of 1812 deviate from that which Gallatin had advocated in anticipation of war?
  3. What descriptions of treasury notes were issued during the War of 1812, and how did the successive issues indicate that the country was drifting towards a government paper currency?

III.

  1. The following extract is from a speech which Webster delivered in Congress on Jan. 2, 1815. The bank bill to which it refers was substantially the same as Dallas’ plan for a bank:—
    “What sort of an institution, sir, is this? It looks less like a bank than a department of the Government. It will be properly the paper money department. Its capital is Government debts; the amount of its issues will depend on Government necessities; Government, in effect, absolves itself from its own debts to the bank, and by way of compensation absolves the bank from its own contracts with others.”
    What features of the proposed bank did Webster refer to in his criticisms? What sort of a bank did he favor? What was the outcome of the movement for a bank at this session of Congress?
  2. What causes produced the surplus of 1836? When was there a somewhat similar situation in the later history of the country?
  3. State briefly where the public moneys of the United States have been kept at different periods since 1789.

IV.

  1. How did Secretary Chase execute the authority conferred upon him by the loan Acts of July 17 and Aug. 5, 1861, and in what respect was the course which he pursued open to criticism?
  2. The Legal Tender Act of March 3, 1863, contains the following clauses:—

And so much of the Act to authorize the issue of United States notes, and for other purposes, approved Feb. 25, 1862, and of the act to authorize an additional issue of United States notes, and for other purposes, approved July 11, 1862, as restricts the negotiation of bonds to market value, is hereby repealed. And the holders of United States notes, issued under and by virtue of said acts, shall present the same for the purpose of exchanging the same for bonds, as therein provided, on or before the first day of July, 1863, and thereafter the right so to exchange the same shall cease and determine.
Explain the meaning, object and effect of these provisions.

  1. How much assistance did the Government derive from the Direct Tax during the Civil War? Why is it probable that this form of taxation will never be resorted to again?

V.

  1. Give the main provisions of the Resumption Act of 1875? Why was it doubtful whether this Act would actually secure the resumption of special payments?
  2. State in general terms the changes effected in the form of the national debt (1) while McCulloch was Secretary of the Treasury, (2) under the Refunding Act of 1870, (3) by Secretary Windom in 1881.
  3. Give an account of the discussion which arose in 1867-68 on the question of paying the principal of the War debt in legal tender notes.

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
The Social and Economic Condition of Workingmen in the United States and in other countries.

Course Enrollment for Economics 9.

For Graduates and Undergraduates:—

[Economics] 9. Asst. Professor Edward Cummings. — The Social and Economic Condition of Workingmen in the United States and in other countries. 3 hours.

Total 67: 4 Graduates, 25 Seniors, 27 Juniors, 6 Sophomores, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination.

1895-96.
ECONOMICS 9

(Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of different countries. Omit one question.)

  1. Contrast the structure of industry before machinery with the structure of modern industry.
  2. In what sense can there be said to be a law of invention? and how is this illustrated historically by the appearance and sequence of the great industrial inventions?
  3. How does machinery affect the demand for labor? the quality of labor? the family of the laborer? his real wage?
  4. Trade unionism vs. trades unionism; the old unionism vs. the new unionism. Explain the differences, and show how and when these phases have from time to time recurred during this century.
  5. How is Chartism related to other phases of the labor movement in England?
  6. The merits and the demerits of such trade-union organizations as you have thus far become acquainted with.
  7. Arbitration and Conciliation: (a) In what industries and in what forms have they succeeded best? (b) The present status and the prospects of industrial arbitration in England and in the United States.
  8. Taking the ordinary factory, how far is it possible or impossible to devise a system of remuneration which reconciles the interests of (a) workmen, (b) foremen, (c) employers, and (d) consumers? Explain carefully the merits and defects of the methods you propose to adopt or reject.
  9. In what respects does labor differ from other commodities? What ethical and economic consequences flow from these differences?
  10. How far, from time to time, has economic theory — Smith, Ricardo, Malthus, Mill, etc., — seemed to justify, and how far to suggest remedies for the industrial evils affecting wage-earners?
  11. The relation of cooperation to trade-unions, to profit-sharing, to socialism.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 9.

(Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of different countries. Take the first six questions and one other.)

  1. Describe carefully the German system of compulsory insurance:

(a) To whom and to what proportion of the population it applies;
(b) The method of organization and of assessment in each case;
(c) The relation of the system to employer’s liability, to poor laws, friendly societies, etc.
(d) Arguments for and against the system.

  1. How far and with what modifications have such schemes been adopted or seriously proposed elsewhere?

(a) Contrast the plan in each case with the German plan;
(b) What circumstances seem to you to favor and what to hinder such action by the government?

  1. How far have voluntary organizations solved or failed to solve the problem of workingmen’s insurance, (a) in England? (b) in the United States?
  2. What light does the experience of France and of England during this century throw upon the good or the bad effect of attempts on the part of the government either to repress or to foster, (a) labor organizations; (b) coöperation; (c) friendly societies?
  3. In what other countries have you found instructive examples of such interference?
  4. Compare the experience and the legislation of the United States in regard to immigration, with the experience and legislation of other countries in which immigration problems have arisen.
  5. In what countries and in what ways have labor organization tended to drift into politics, and seek political remedies for industrial evils?

(a) Compare the experience of France, Belgium, Germany and English-speaking countries.
(b) What conclusion do you draw from such experience?

  1. What evidence do statistics of family income and expenditure furnish (a) in regard to the social condition of labor in staple industries of the United States and of competing countries? (b) in regard to cost of labor?
  2. What attempts have been made to perpetuate or reestablish certain aspects of the guild organization in European countries?
  3. Discuss the schemes adopted by governments, municipalities, etc., for meeting the “out-of-work problem.”
    What is the origin of that problem in the United States?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
The Mediaeval Economic History of Europe.

Course Enrollment for Economics 10.

For Graduates and Undergraduates:—

[Economics] 10. Professor Ashley. — The Mediaeval Economic History of Europe. 2 hours.

Total 14: 7 Graduates, 5 Seniors, 2 Juniors.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination.

1895-96.
ECONOMICS 10.

I.

To be first attempted by all.

Translate, and comment, on the following passages:

  1. Totius terrae descriptio diligens facta est, tam in nemoribus quam in pascuis et pratis, nec non in agriculturis, et verbis communibus annotata in librum redacta est.
  2. In Tineguella . . . sunt iiii hidae et dimidia ad geldum Regis. Et de istis tenent xx homines xx virgas terrae. Et xiii homines tenent vi virgas et dimidiam.
  3. Sicut traditum habemus a patribus, in primitivo regni statu post conquisitionem, regibus de fundis suis non auri vel argenti pondera sed sola victualia solvebantur.
  4. Plerique, cum aut aere alieno aut magnitudine tributorum aut injuria potentiorum premuntur, sese in servitutem dicunt nobilibus, quibus in hos eadem omnia sunt jura quae dominis in servos.
  5. Ceteris servis non in nostrum morem, descriptis per familiam ministeriis, utuntur. Suam quisque sedem, suos penates regit.

II.

Write on four only of the following subjects.

  1. The importance of the yardland in the rural economy of the Middle Ages.
  2. A history of the mark theory, from its first promulgation to its general acceptance.
  3. A comparison of the life of a medieval English village with that of a New England village of today.
  4. The Roman colonate.
  5. An account and criticism of Mr. Seebohm’s “Tribal System in Wales.”

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 10.

I.

To be first attempted by all.

Comment on the following passages, and translate those in Latin and French:—

  1. If a man agree for a yard of land, or more, at a fixed rent, and plough it; if the lord desire to raise the land to him to service and to rent, he need not take it upon him, if the lord do not give him a dwelling.
  2. Ego Eadward . . . rex . . . dedi X manentes in illo loco qui dicitur aet Stoce be Hysseburnam, cum omnibus hominibus qui in illa terra erant qando Ælfred rex viam universeæ carnis adiit.
  3. Magnates regni et alii minores domini qui tenentes habebant perdonarunt redditum de redditu ne tenentes abirent prae defectu servorum et caristia rerum.
  4. Whan Adam dalf and Eve span,
    Wo was thanne a gentilman?
  5. Nul ne deit rien achater a revendre en la vile meyme, fors yl sera Gildeyn.
  6. Cives Londoniae debent LX marcas pro Gilda telaria delenda ita ut de cetero non suscitetur.
  7. No one of the trade of Spurriers shall work longer than from the beginning of the day until curfew rings out at the church of St. Sepulchre.

II.

Write on four only of the following subjects:

  1. The economic and constitutional questions involved in recent discussions as to the beginnings of town life in mediaeval Europe.
  2. A comparison of a mediaeval merchant gild with a modern “trust,” and of a craft gild with a modern trade union.
  3. The extent and character of the public regulation of prices and wages in the later middle ages.
  4. The cause of the Peasant Revolt in 1381.
  5. The relation of the English Reformation to the origin of the Poor Laws.
  6. A criticism of Cunningham and McArthur’s Outlines of English Industrial History.

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Banking and the History of the leading Banking Systems.

Course Enrollment for Economics 122.

For Graduates and Undergraduates:—

[Economics] 122. Professor Taussig. — Banking and the History of the leading Banking Systems. Hf. 3 hours. 2d half year.

Total 70: 10 Graduates, 30 Seniors, 19 Juniors, 4 Sophomores, 7 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 12.

[Arrange your answers strictly in the order of the questions. Give some answer, however brief, to each question.]

  1. What was Bagehot’s opinion as to the advantage of a “many reserve” system as compared with a “single reserve” system? What light does American experience give?
  2. What important proposal made by Bagehot in Lombard Street has been adopted?
  3. What was the theory of the act of 1844? How far was that theory followed in the legislation on the Reichsbank of Germany?
  4. (a) Arrange in their proper order the following items, in which the figures stand for millions of marks.
Capital 150 Loans 800
Specie 800 Securities 50
Notes 1150 Other Assets 50
Deposits 350 Other Liabilities 50

(b) Consider what would be the significance of the statement if it were for the Reichsbank of Germany; assuming the limit of uncovered issue to be 300 millions of marks.

(c) Rearrange the items as they would appear if the statement were one of the condition of the Bank of England; assuming the limit of notes not required to be covered by specie to be 16 millions sterling = 400 million marks, and assuming that securities of any sort may be held against the uncovered issue. Consider then how the statement, thus rearranged, differs from a probable statement of the actual condition of the Bank of England in recent times.

  1. Does the Bank of France supply an elastic currency? Do the National Banks of the United States?
  2. “Redemption by the Treasury under the national bank legislation has been a convenient method of disposing of worn and soiled notes, and in case of accumulations of currency at special points has facilitated its rapid exchange for legal tender and specie. But nobody would say that this system has compelled any bank to face its notes in the same sense in which it has to face its liability for checks drawn against deposits.” Explain.
  3. Consider the effects on bank-note circulation and redemption of (1) exchange of notes among banks; (2) legislative prohibition of payment by a bank of notes other than its own; and give historical examples of the use of one or the other method.
  4. Does the United States Treasury now carry on a banking business? Did the Comptoir d’Escompte in 1848? The Prussian government in 1866?
  5. Does a banker lend his own money? the money of others?
  6. To what extent, and for what reasons, should the operations of savings-banks, private bankers, and trust companies, be excluded from consideration in this course?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Scope and Method in Economic Theory and Investigation.

Course Enrollment for Economics 132.

For Graduates and Undergraduates:—

[Economics] 132. Professor Taussig. — Scope and Method in Economic Theory and Investigation. Hf. 2 hours. 2d half-year.

Total 14: 11 Graduates, 3 Seniors.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 13.

  1. Compare Wagner’s enumeration of the problems within the scope of economic science with Keynes’s; and consider what doubts or objections there may be in regard to any of the problems mentioned by either writer.
  2. Explain and examine critically one of the following passages in Wagner:
    Section 63 (pp. 158-163).
    Section 70 (pp. 180-182).
  3. Illustrate the mode in which use is advantageously made of the deductive and the inductive method in regard to two of the following topics:

the causes which determine the general range of prices;
the prospects of socialism;
the prospects of coöperation.

  1. What peculiarities and difficulties appear for economic science if the choice of terminology and in definition? Illustrate.
  2. Is there ground for saying that the economic history of very recent times is of greater value for economic theory than the economic history of remote periods?
  3. What do you conceive to be the position in regard to method in economies of Ricardo? J.S. Mill? Roscher? Schmoller?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Communism and Socialism.

Course Enrollment for Economics 141.

For Graduates and Undergraduates:—

[Economics] 141. Asst. Professor Edward Cummings. — Communism and Socialism. — Utopias, ancient and modern. Hf. 2 hours. 1st half-year.

Total 15: 1 Graduate, 10 Seniors, 2 Juniors, 2 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 14.

(Arrange your answers in the order of the questions. Omit one.)

  1. The different senses in which the word Socialism is used. Where do you intend to draw the line between Socialism proper, and familiar forms of government interference and control — such as factory legislation, municipal water works, and government postal, telegraph or railroad services?
  2. “National communism has been confused with the common ownership of the family; tenure in common has been confused with ownership in common; agrarian communism with village commons.” Discuss the evidence.
  3. “Just as Plato had his Republic, Campanella his City of the Sun, and Sir Thomas More his Utopia, so Baboeuf had his Charter of Equality, Cabet his Icaria, St. Simon his Industrial System, and Fourier his ideal Phalanstery. . . . But the common criticism of Socialism has not yet noted the change, and continues to deal with the obsolete Utopias of the pre-evolutionary age.” What do you conceive to be the character of the change referred to? How far did the earlier Utopias anticipate the ideals of the modern social democracy?
  4. What indication of Socialistic tendency are to be found in the discipline of the Christian church? Explain the triple contract and its bearing on the doctrine of usury.
  5. “The Communistic scheme, instead of being peculiarly open to the objection drawn from danger of over-population, has the recommendation of tending in an especial degree to the prevention of that evil.” Explain Mill’s argument. Do you agree?
  6. To what extent are the theories of Karl Marx indebted to earlier writers in the 19th century?
  7. How far are the economic theories of (a) Lasalle, (b) Marx related to the theories of the so-called orthodox Economists? Explain critically.
  8. How far do you trace the influence of historical conditions in the social philosophies of Plato, More, Bacon, Rousseau, St. Simon, Karl Marx?
  9. What connection do you see between the teachings of Rousseau and (a) modern Socialism. (b) modern Anarchism?
  10. What, according to Hertzka, is the economic defect of the existing social and industrial system, and what is the remedy? Contrast “Freeland” with “Looking Backward.”

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also reprinted in. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

 

 

 

Categories
Chicago Economists Harvard

Harvard. Course Transcript of economics Ph.D. alumnus (1922), Jacob Viner

 

Besides the collection and careful transcription of historical course syllabi and examination questions from leading centers of economics education in the United States, Economics in the Rear-view Mirror also shares information on the structure of undergraduate and graduate economics programs as well as the granular detail found in the transcripts of individual students. 

Recently I posted the Harvard graduate transcript of Edward Chamberlin. Today’s post provides us the Harvard course record of that economist’s economist, Jacob Viner, later of Chicago and Princeton fame.

__________________________

THE GRADUATE SCHOOL OF ARTS AND SCIENCES
Record of Jacob Viner

Years: 1914-15, 1915-16

 

[Previous] Degrees received.

A.B. McGill 1914

First Registration: 28 Sept. 1914

1914-15

Grades

First Year Course

Half-Course

Economics 11

A

Economics 12

A-

Economics 17

A

Economics 33 (full)

A

Economics 34

B+

German A

B+

Division: History, Government, & Economics
Scholarship, Fellowship: University
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degree attained at close of year: A.M.

 

1915-16

Grades

Second Year Course

Half-Course

Economics 2a1

A-

Economics 2b2

abs.

Economics 81

A

Economics 14

“excused”

Economics 18a2

cr. for[…]

Economics 31

“exc.”

Philosophy 182

abs.

Philosophy 25a1

A-

Division:
Scholarship, Fellowship: Henry Lee Memorial
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degree attained at close of year:  Ph.D. 1922 (Feb.)

Source: Harvard University Archives. Graduate School of Arts and Sciences. Record Cards of Students, 1895-1930, Sun—Walls (UAV 161.2722.5). File I, Box 14, Record Card of Jacob Viner.

__________________________

Courses Names and Professors

1914-15

Economics 11. Economic Theory. Professor Taussig.

Economics 121. (half course) Scope and Methods of Economic Investigation. Professor Carver.

Economics 17. Economic Theory: Value and Related Problems. Assistant Professor B.M. Anderson, Jr.

Economics 33. International Trade and Tariff Problems in the United States. Professor Taussig

Economics 34. Problems of Labor. Professor Ripley.

German A. Elementary Course (prescribed for students who cannot show that they have a satisfactory knowledge of Elementary German)

1915-16

Economics 2a1. European Industry and Commerce in the Nineteenth Century. Professor Gay, assisted by Mr. A.H. Cole and Mr. Ryder.

Economics 2b2. Economic and Financial History of the United States. Professor Gay, assisted by Mr. A.H. Cole and Mr. Ryder.

Economics 81. Principles of Sociology. Professor Carver, assisted by Mr. Bovingdon.

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

Economics 18a2. Analytical Sociology. Asst. Professor Anderson.

Economics 31. Public Finance. Professor Bullock.

Philosophy 182. Present Philosophical Tendencies. A brief survey of contemporary Materialism, Pragmatism, Idealism, and Realism.

Philosophy 25a1. Theory of Value. Professor R.B. Perry.

Sources: Harvard University, Faculty of Arts and Sciences. Course of instruction. 1879-2009; Harvard University. Report of the President of Harvard College, 1826-1995.

__________________________

Ph.D. in Economics Awarded 1922

Jacob Viner, A.B. (McGill Univ.) 1914, A.M. (Harvard Univ.) 1915.

Subject, Economics. Special Field, International Trade. Thesis, “The Canadian Balance of International Indebtedness, 1900-1913.”
Assistant Professor of Political Economy, University of Chicago.

Source: Harvard University. Report of the President of Harvard College, 1921-1922, p. 65.

Image Source: Jacob Viner (pipe smoker in the center) playing cards with Messrs. Grabo, Prescott, and Ralph Sanger (mathematician).  University of Chicago Photographic Archive apf1-08487, Special Collections Research Center, University of Chicago Library.

Categories
Exam Questions Harvard

Harvard. Semester exams for all economics and one social ethics course, 1893-1894

 

With this post Economics in the Rear-view Mirror adds yet another annual slice of final examinations from Harvard. Over twenty pages of exam questions (with course enrollment figures) for the 1893-94 academic year have been transcribed and are now available to the internet community of historians of economics.  For other years visitors can simply scan or search the chronological catalogue of artifacts. Alternatively using Google search constrained to Economics in the Rear-view Mirror, “harvard economics exams site:irwincollier.com“, will get you links to plenty of Harvard examination postings through the years.

______________________

Enrollment for Philosophy 5.
The Ethics of the Social Questions.
1893-94.

Enrollment.

[Philosophy] 5. Professor Peabody. — The Ethics of the Social Questions. — The questions of Charity, Divorce, the Indians, Temperance, and the various phases of the Labor Question, as problems of practical Ethics. — Lectures, essays, and practical observations. 2 hours.

Total 118: 6 Gr., 56 Se., 23 Ju., 2 So., 12 Others, 19 Divinity.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 58.

1893-94.
PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.
Mid-Year Examination.

  1. “Political Economy ought to combine with the old question: ‘Will it pay?’ another and higher query: ‘Is it right?’” (C. D. Wright, Political Economy and the Labor Question, p. 17.) The place and value of this view of Political Economy.
  2. Spencer’s formula for conduct, explained and criticized (Data of Ethics, p. 14.)
  3. The Socialist’s view of Charity and the argument which sustains it. Mr. Spencer’s view of Charity and his practical advice. (Principles of Ethics, II. p. 376, ff.)
  4. What does Mr. Charles Booth regard as the “crux” of the Social Problem in East London? (Labour and Life of the People, I. pp. 596 and 162.) Why? The practical remedy proposed by him.
  5. The causes of poverty in East London, as analyzed by Mr. Booth, (I. 147); in their order of importance and the proportion of cases involved.
  6. The Labor Colonies of Germany compared with those of Holland, in method and intention. How far, and under what principle, is such an enterprise applicable to the condition of this country?
  7. Liberalitas” and “Caritas,” — the aim, the service, and the peril of each.
  8. The historical development and the practical rules of the English Poor-Law System.
  9. The Relation of Charity Organization in England to Poor-Law Relief. (Loch, p. 37, ff.); and the objections to Charity Organization. (Loch, p. 97, ff.)
  10. The growth of Charity Organization in the United States, its present extent and its two types (Report, pp. 1-8.) Which type is represented by the London Charity Organization Society? (Loch p. 54.) Which is the sounder principle for this country? Why? Which is the more generally accepted principle? (Appendix of Report, p. 34.)

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94

PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.
Final Examination

[Omit one question.]

  1. The authorship and the historical importance of the following phrases:—
    “The value of a thing is independent of opinion and of quantity. To be valuable is to avail towards life.”
    “All commodities are only masses of congealed labor-time.”
    “The high road to a stable sufficiency and comfort among the people is through the medium of their character.”
    “Cash-payment never was or could, except for a few years, be the union-bond of man to man.”
    “Aristocracy of talent.”
    “It is easier to determine what a man ought to have for his work, than what his necessities will compel him to take for it.”
    “Ill-th.”
  2. Compare Carlyle and Ruskin in their attitudes toward the growth of democracy and in their doctrine of social progress.
  3. Compare the view of the “Social Horizon” with that of Naquet as to the effect of collectivism on enterprise and invention. (Social Horizon, pp. 112-151; Naquet, pp. 92-126.)
  4. The Anarchist’s criticism of the Socialist, the Socialist’s criticism of the Anarchist, and the Communist as he is criticised by both.
  5. Is thrift a virtue? Who doubts it? Why?
    Is competition an evil? Who doubts it? Why?
  6. Christian Socialism and its difficulties. The logical and the practical relation of Socialism to Religion.
  7. In the four ideals which are possible to Socialism and Individualism, “the normal relation would be that of cross-correspondence.” (Bosanquet. The Civilization of Christendom, p. 136.) Explain and comment on this statement.
  8. Enumerate and classify the arguments presented in the Course on the ethical aspects of Socialism, with your judgment of the weight of these suggestions.
  9. Compare the plan of profit-sharing in the Paris and Orleans Railway (Sedley Taylor, pp. 77-86) with that adopted by the Chicago, Burlington and Quincy Railroad.
  10. How far are we carried in the argument for abstinence from intoxicating drink by considerations drawn from the “risks of life.” Why?

Source: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, p. 7.

______________________

Economics 1.
Outlines of Economics.
1893-94.

Enrollment.

[Economics] 1. Professors Taussig and Ashley, Asst. Professor Cummings and Mr. Clow. — Outlines of Economics. — Mill’s Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours.

Total 340: 1 Gr., 35 Se., 111 Ju., 136 So., 7 Fr., 50 Others.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 61.

1893-94.
ECONOMICS 1.
Mid-Year Examination.

[Arrange your answers strictly in the order of the questions.
One question may be omitted.]

  1. “Let us consider whether, and in what cases, the property of those who live on the interest of what they possess, without being personally engaged in production, can be regarded as capital.” Illustrate by example.
  2. “Capital, though saved, and the result of saving, is nevertheless consumed. The word saving does not imply that what is saved is not consumed, nor even necessarily that its consumption is deferred.” Explain. Who is the consumer? and is the consumption usually deferred?
  3. Are wages likely to be low or high in different occupations because of (1) attractiveness, (2) unpleasantness, of the work? Why?
  4. “This equalizing process, commonly described as the transfer of capital from one employment to another, is not necessarily the slow, onerous, and almost impracticable process which it is often represented to be.” What is the equalizing process? and why is it or is it not slow and onerous?
  5. “Even if there were never any land taken into cultivation for which rent was not paid, it would be true, nevertheless, that there is always some agricultural capital which pays no rent.” Explain, and give the reasons for the statement.
  6. What are the laws of value applicable to: silver bullion, cotton-cloth, raw hides, wheat-bread, telephones?
  7. Explain what is meant by a fall in the value of money; an appreciation of gold; a depreciation of inconvertible paper; a stable standard of value.
  8. Wherein does the play of demand and supply, in determining the value of money, differ from its operation in determining the value of commodities in general? Wherein does cost of production determine the value of money and of commodities differently?
  9. What is the effect of general high wages on prices? on values? on profits? Why?
  10. “So far as rents, profits, wages, prices. are determined by competition, laws may be assigned for them. Assume competition to be their exclusive regulator, and principles of broad generality and scientific precision may be laid down, according to which they will be regulated.” Trace the historical origin of the conditions here assumed.
  11. What seems to you to be the value of economic history in relation to the study of economic theory?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94.

1893-94.
ECONOMICS 1.
Final Examination.

[Arrange your answers strictly in the order of the questions.]

I.
[One question in this group may be omitted.]

  1. Explain the connection between the law of diminishing returns the pressure of population on subsistence; the tendency of profits to a minimum.
  2. What is the nature of the remuneration received by the holder of a government bond; the holder of a railway bond; the landlord of a building let for business purposes; the landlord of land let for agricultural purposes; a manufacturer carrying on business with borrowed capital; the holder of a patent receiving a royalty for its use?
  3. How does cost of production influence tire value of (1) silver bullion, (2) oats, (3) coffee, (4) bicycles?
  4. What seems to you to be the value of economic history in relation to the study of economic theory?

II.
[One question in this group may be omitted.]

  1. In 1851, very rich deposits of gold were found in Australia. What would you expect the result to be in Australia on wages, prices, imports and exports?
  2. Is the gain from international trade to be found in the import or in the exports? Why and how?
  3. It is said that when the quantity of money is increased, prices rise precisely in proportion to the increase. What exceptions or qualifications would you make to this statement?
  4. Is the exportation of specie from a country disadvantageous?

III.
[Answer all in this group.]

  1. What sorts of advantages, in regard to wages, do Trade-unions and Coöperative Societies offer to workingmen?
  2. “Deposits are currency.” What is meant?
  3. What is the most important objection to the use of inconvertible paper money? What illustrations of its force do you find in the experience of the United States since 1860?
  4. Compare the policy followed in times of panic by the Bank of England, the Reichsbank of Germany, and the National Banks of the United States.

Source: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 34-35.

______________________

Economics 2.
Economic Theory from Adam Smith
to the Present Time.
1893-94.

Enrollment

For Graduates and Undergraduates:—

[Economics] 2. Professor Taussig. — Economic Theory from Adam Smith to the present time. — Examination of selections from leading writers. 3 hours.

Total 43: 12 Graduates, 16 Seniors, 10 Juniors, 1 Sophomore, 4 Others.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1893-94, p. 61.

1893-94
ECONOMICS 2.
Mid-Year Examination.

[Arrange your answers strictly in the order of the questions.
Write with deliberation, but answer all the questions.]

  1. “It is no doubt true that a portion of capital is always remuneratory and not auxiliary in its nature; that is, does not consist of instruments that make labour more efficient, but of finished products, destined for the consumption of labourers and others. This part of capital continually becomes real wages (as well as real profits, interest, and rent), being purchased by the labourer with the money wages he receives from time to time. But it does not seem to me therefore correct to regard the real wages as capital ‘advanced’ by the employer to the labourer. The transaction between the two is essentially a purchase, not a loan. The employer purchases the results of a week’s labour, which thereby becomes part of his capital, and may be conceived — if we omit for simplicity’s sake the medium of exchange — to give the labourer in return some of the finished products of his industry.”
    Consider whether and how remuneratory capital continually becomes real interest and rent, as well as real wages; and give your opinion as to the closing analysis of the relation between employers and laborers.
  2. Suppose (1) that profit-sharing were universally adopted; (2) that laborers habitually saved a very large part of their income, — and consider whether any modification must be made in the reasoning of those who would maintain a Wages-Fund doctrine.
  3. It has been said that while the capital of the employing class is the immediate source from which wages are paid, the ultimate and important source is the income of the consumers who buy the goods made by the laborers for the capitalists. Consider this doctrine.
  4. Compare critically the treatment by Walker, Sidgwick, and Ricardo, of the relation between the profits of the individual capitalist and the amount of capital owned by him.
  5. State carefully Ricardo’s criticism of Adam Smith’s doctrine on labor as the measure of value.
  6. Compare Adam Smith’s reasoning with Ricardo’s as to the manner in which the progress of society in wealth affects profits.
  7. “We have seen that in the early stages of society both the landlord’s and the labourer’s share of the value of the produce of the earth would be but small; and that it would increase in proportion to the progress of wealth and the difficulty of procuring food. We have known, too, that although the value of the labourer’s portion will be increased by the high value of food, his real share will be diminished; while that of the landlord will not only be raised in value, but will also be increased in quantity.”
    Explain the reasoning by which Ricardo reached the several conclusions here summarized, and give your opinion as to the soundness of the conclusions.

Source: Harvard University Archives. Prof. F. W. Taussig, Examination Papers in Economics 1882-1935 (Scrapbook). Also: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94.

1893-94
ECONOMICS 2.
[Final Examination.]

  1. “Perhaps the most striking conflict of the Wages-Fund-theory with facts, is found in the periodical influctions and depressions of trade. After a commercial crisis, when the shock is over and the necessary liquidation has taken place, we generally find that there is a period during which there is a glut of capital, and yet wages are low. The abundance of capital is shown by the low rate of interest and the difficulty of obtaining remunerative investments.” — Nicholson, Political Economy
    How far is the theory in conflict with the facts here adduced?
  2. How is the significance of the doctrine of consumer’s rent affected by the fact that the money incomes of different purchasers vary widely?
  3. Explain Marshall’s doctrine as to the influence on wages of the standard of living among laborers; and consider how far it differs from Richard’s teaching as to the connection between wages and the price of food.
  4. Explain Marshall’s doctrine of the quasi-rent of labor; compare it with his conclusions as to the rent of business ability; and point out how far he finds in either case something analogous to economic rent as defined by the classic writers.
  5. “It is not true that the spinning of yarn in a factory, after allowance has been made for the wear-and-tear of the machinery, is the product of the labour of the operatives. It is the product of their labour (together with that of the employer and subordinate managers) and of the capital; and that capital itself is the product of labour and waiting; and therefore the spinning is the product of labour (of many kinds) and of waiting. If we admit that it is the product of labour alone, and not of labour and waiting, we can no doubt be compelled by inexorable logic to admit that there is no justification for interest, the reward of waiting.”
    How far would you accept this reasoning?
  6. “Barter, though earlier historically than buying and selling, is really a mere complex transaction, and the theory of it is rather curious than important.” — Marshall.
    “The attribute of normal or usual value implies systematic and continuous production.” — Cairnes.
    “Where commodities are made for sale, the sellers’ subjective valuations fall out altogether, and price is determined by the valuation of the last buyer.” — Böhm-Bawerk.
    Explain these statements, separately or in connection with each other.
  7. What does Böhm-Bawerk mean by the general subsistence market, or the total of advances for subsistence; and how far do the “advances” differ from the wages-fund of the classic economists?
  8. Explain Böhm-Bawerk’s views as to the connection between the prolongation of the period of production, and the increase in the productiveness of labor; and consider how far his conclusions as to interest would need to be modified, if those views were changed.
  9. Explain briefly, by definition or example, the sense in which Böhm-Bawerk uses the terms, —

social capital;
private capital;
subjective value;
marginal pairs;
technical superiority of present goods.

Source: Harvard University Archives. Prof. F. W. Taussig, Examination Papers in Economics 1882-1935 (Scrapbook). Also: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 35-36.

___________________________

Economics 3.
Principles of Sociology.
1893-94.

Enrollment.

[Economics] 3. Asst. Professor Cummings. — The Principles of Sociology. — Development of the Modern State, and of its Social Functions. 3 hours.

Total 47: 17 Gr., 19 Se., 5 Ju., 6 Others.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 61.

 

1893-94.
ECONOMICS 3.
Mid-Year Examination

(Arrange your answers in the order of your questions. Omit two.)

  1. “In fact, the conception of society as an organism seems to admit of more easy application to just those very views about the State which Mr. Spencer most dislikes: and, though the conception or organism has its value in helping political thinking out of the confusions of individualism, if it be taken as a final key to all mysteries, it leads to new confusions of its own, for which it would be absurd to blame Mr. Spencer.” Explain and criticise.
  2. How does Spencer account for the diverse types of political organization; and what influences determine the order in which they arise? Illustrate.
  3. What evidence of political evolution is there in the sequence of the various forms of political organization in Greek, Roman, and Medieval society? Trace the steps.
  4. According to Burke, “Society is indeed a contract. … It is a partnership in all science; a partnership in all art; a partnership in every virtue and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born.” Explain. How does this differ from earlier conceptions of the social contract? From the conception of society as an organism?
  5. Upon what grounds does Spencer base his preference for the industrial rather than the militant type of society?
  6. According to Jevons, “the first step must be to rid our minds of the idea that there are any such things in social matters as abstract rights, absolute principles, indefeasible laws, inalterable rules, or anything whatever of an eternal and inflexible nature.” According to another view, “the state presupposes rights and the rights of individuals.” What is your own opinion? Why? Are there “Natural Rights”? Illustrate.
  7. “The State is after all the least of the powers that govern us.” How far is this true at different stages of social development?
  8. What is involved in the conception of Sovereignty? In whom is it rested? On what does it rest? For example, England and the United States.
  9. What is the bearing of Comte’s maxim, “Voir pour prevour,” upon the doctrine of social evolution?
  10. “The environment in our problem must, therefore, not only include psychical as well as physical factors, but the former are immeasurably the more important factors, and as civilization advances their relative importance steadily increases.”
  11. What do you mean by State Interference? By Individual liberty?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94.

1893-94.
ECONOMICS 3.
Final Examination

[Questions are in all cases to be discussed with direct reference to facts and theories presented in this course. Arrange your answers in the order in which the questions stand. Take either the first question or six others.]

  1. Devote three hours to a discussion of “Social Evolution”;— expounding Mr. Kidd’s views, discussing his opinions and conclusions in the light of facts and theories presented in this course, and stating carefully your own reasons for agreeing or disagreeing.
  2. What, according to Mr. Kidd, are the necessary “Conditions of Human Progress”? Do you agree or disagree? Why?
  3. What are the points of resemblance and of difference between the “Scientific Socialism” of today and earlier forms of so-called socialistic propaganda which have appeared within this century?
  4. “Step by step the community has absorbed them, wholly or partially, and the area of private exploitation has been lessened. Parallel with this progressive nationalization or municipalization of industry, there has gone on, outside, the elimination of the purely personal element in business management.” Indicate briefly the character, extent and probable significance of “nationalization and municipalization” in the United States and in European Countries.
  5. What inferences may and what may not safely be drawn from American experience in municipal ownership or control of gas, of water, and of electric light plants? Discuss carefully the extent and character of the evidence.
  6. “According to them, the tribe or horde is the primary social unit of the human race, and the family only a secondary unit, developed in later times. Indeed, this assumption has been treated by many writers, not as a more or less probable hypothesis, but as a demonstrated truth. Yet the idea that a man’s children belong to the tribe, has no foundation in fact.” Indicate briefly the present state of this controversy. What significance do you attach to it?
  7. “The central fact with which we are confronted in our progressive societies is, therefore, that the interests of the social organism and those of the individuals comprising it at any time are actually antagonistic; they can never be reconciled, they are inherently and essentially irreconcilable.” State carefully the arguments for and against this position.
  8. “True Socialism of the German type must be recognized to be, ultimately, as individualistic and as anti-social as individualism in its advanced forms.” By what line of reasoning is this conclusion reached? State carefully your reasons for agreeing or disagreeing.

Source: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 36-37.

___________________________

Economics 5 (First Semester).
Railway Transportation.
1893-994.

Enrollment.

[Economics] 51. Professor Taussig. — Railway Transportation. — Lectures and written work. 3 hours. 1st half-year.

Total 39: 3 Gr., 24 Se., 9 Ju., 1 So., 2 Others.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 61.

1893-94.
ECONOMICS 5.
Final [Mid-Year] Examination.

[Arrange your answers strictly in the order of the questions.]

  1. State what important general lessons are to be learned from the early experiments of Pennsylvania and Michigan in constructing and managing transportation routes.
  2. Why the change in the attitude of the public towards the Pacific railways after 1870? And what were some consequences of the change?
  3. What was the effect of the land-grant system on the welfare of the community, and on railway profits?
  4. “These conditions [leading to financial losses] may fairly enough be described as the Interstate Commerce Commission describes them, — parallel railroad construction and wars of rates. But when the Commission goes on to say that they cannot with any justice be claimed to have resulted from the act or from its administration, they make an unwarranted assertion.” What were the conditions here referred to (give dates)? And was the assertion unwarranted?
  5. Consider the probable results of the repeal of the section of the Interstate Commerce act which prohibits pooling.
  6. “High rates on some articles are not to be regarded as a tax which could be removed if low rates on others were abandoned.” Why not?
  7. “The enormous fixed capital and the consequent impossibility of retiring from the enterprise if it becomes unprofitable; the greater or less degree of monopoly; the wide gulf between railway managers and investors, sometimes leading to consequences of its own,” consider in what manner and extent these circumstances have affected railway rates in the United States.
  8. What do you believe to be the significance and importance of the following figures (for the United States in 1891):
Revenue per passenger mile 2.142 cents
Average cost of carrying a passenger one mile 1.910 cents
Revenue per ton mile 0.895 cents
Average cost of carrying a ton one mile 0.583 cents
Revenue per freight train mile $1.63
Average cost of running a freight train one mile $1.06
  1. Compare the course of railway policy in France, Prussia, and Italy, in 1880-85.
  2. Compare the principles which underlie the natural (car-space) system of freight rates and the zone system of passenger rates.

Source: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 37-38.

___________________________

Economics 6 (Second Semester)
History of Tariff Legislation
in the United States.
1893-94.

Enrollment.

[Economics] 62. Professor Taussig. — History of Tariff Legislation in the United States. 3 hours. 2d half-year.

Total 97: 11 Gr., 33 Se., 36 Ju., 2 So., 1 Fr., 14 Others.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 62.

1893-94.
ECONOMICS 6.
Final Examination

[Arrange your answers strictly in the order of the questions.
Answer all the questions.]

  1. Is it to be inferred from Hamilton’s Report on Manufactures that if he were now living, he would not be an advocate of protection?
  2. What grounds are there for saying that the act of 1789 was a protective measure?
  3. State the important provisions of the act of 1816, and consider whether it differs in any essentials from the act of 1824.
  4. Was Clay right in affirming, or Webster in denying, that the protective system of 1824 was “American”?
  5. How would you ascertain what were the duties, in 1840, on (1) woollen goods, (2) cotton goods, (3) silk goods, (4) bar iron?
  6. Suppose the present specific duties on woollen manufactures to be removed; the ad valorem duties to remain unchanged; wool to be admitted free; and consider how far there would ensue a change in the effective protection given on finer woollen cloths, on cheaper woollen cloths, and on carpets.
  7. Mention briefly what were the duties on tea and coffee in the successive stages of tariff legislation from 1789 to 1890; noting the significance of the changes made from time to time.
  8. Why do the effects, in recent times, of the duties on flax and hemp, and on glassware, “reduce themselves in the last analysis to illustrations of the doctrine of comparative costs”?
  9. Wherein is there resemblance, wherein difference, between the general course of tariff history in the United States after the civil war, and in France after the Napoleonic wars?
  10. What would be the probable effects of the removal of the present duties on cotton goods?

Source: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 38-39

___________________________

Economics 8 (First Semester)
History of Financial Legislation
in the United States.
1893-94.

Enrollment.

[Economics] 81. Professor Dunbar. — History of Financial Legislation in the United States. 2 hours. 1st half-year.

Total 63: 9 Gr., 26 Se., 23 Ju., 1 So., 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 62.

1893-94.
ECONOMICS 8.
Mid-Year Examination.

Instead of answering the starred questions in this paper you may substitute, if you prefer, an essay on the subject marked A, printed at the close.

  1. *“It is sometimes said that Mr. Hamilton believed in a perpetual debt, and when one notices the form into which he threw the obligations of the United States, the only escape from this conclusion is to say that he was ignorant of the true meaning of the contracts which he created.” — [H. C. ADAMs, Public Debts, p. 161.]
    How far is the above remark confirmed by the provisions as to the payment of the debt funded by the Act of 1790?
  2. How far should you say that Gallatin, although an anti-Federalist, finally adopted Federalist measures or methods in financial matters?
  3. Give a general statement of the agreement between the banks and the Treasury for the resumption of specie payment in 1817, and show the way in which it was intended to operate.
  4. Inasmuch as Jackson’s general prepossessions were unfavorable to all banks, how are we to explain his resort to the plan of depositing Government funds in State banks after the removal of the deposits in 1833?
  5. *How serious a blow did Jackson really strike when he removed the deposits from the United States bank in 1833?
  6. What expedients were suggested for supplying the needs of the government in 1861-62 without resorting to the issue of legal-tender notes?
  7. *The “Gold Bill” of June 17, 1864, and its fate.
  8. What was the process by which the bonds issued during the war were refunded under the act of 1870 and when did the refunding take place?
  9. What signs of change in the policy of Congress as to the resumption of specie payments are to be found in the legislation between 1865 and 1876?
  10. State the provisions of the Resumption Act of 1875 as to the redemption of legal-tender notes, and show whether the act did or did not provide for the possible eventual disappearance of all the notes. What has made the amount of outstanding legal-tender notes stationary at $346,681,016?
  11. *A recent writer, discussing the question of a paper currency issued by government, says:—
    “In the United States there were twenty issues of treasury notes before the late war. Those issues were receivable in the revenues the government, and were always preferred to gold.”
    What criticism is to be made on this statement?
  12. *Describe the different kinds of paper currency now in use in the United States, stating as to each the cases in which it can be tendered for private debt, and those which it. can he received or paid out by the government.

*  *  *  *  *  *  *  *  *  *
A.

The change which has taken place since 1846 in the conditions affecting the Independent Treasury, and the justification of Secretary Carlisle’s statement, in the Finance Report for 1893, that “the laws have imposed upon the Treasury Department all the duties and responsibilities of a bank of issue, and to a certain extent the functions of bank of deposit.”

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94.

___________________________

Economics 9.
The Social and Economic Condition of Workingmen in the United States and in other countries.
1893-94.

 Enrollment.

[Economics] 9. Asst. Professor Cummings. — The Social and Economic Condition of Workingmen in the United States and in other countries. 3 hours.

Total 43: 7 Graduates, 16 Seniors, 11 Juniors, 3 Sophomores, 1 Freshman, 5 Other.

Source: Harvard University. Annual Report of the President of Harvard College, 1893-94, p. 61.

Mid-year Examination.
ECONOMICS 9.
1893-94.

(Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience of different countries. Omit two questions.)

  1. “It becomes my duty, therefore, in undertaking to interpret the social movement of our own times, to disclose, first, those changes in industrial methods by which harmony in industries has been disturbed, and then to trace the influence of such changes into the structure of society.” State carefully what these changes have been; and trace their influence.
    [Henry C. Adams. “An Interpretation of the Social Movements of our Time”, International Journal of Ethics, Vol II, October, 1891), p. 33]
  2. Discuss the effect upon wages of machinery, — (a) as a substitute for labor (b) as auxiliary to labor; (c) as affecting division of labor; (d) as concentrating labor and capital; (e) as affecting the nobility[sic, “mobility”] of labor and capital.
  3. “In my opinion, combination among workingmen is a necessary step in the re-crystallization of industrial rights and duties.” State fully your reasons for agreeing or disagreeing with this opinion. What forms of combination do you include?
    [Henry C. Adams. “An Interpretation of the Social Movements of our Time”, International Journal of Ethics, Vol II, October, 1891), p. 45]
  4. “Trade-unions have been stronger in England than on the Continent, and in America….” In what respects stronger? Why? Contrast briefly the history and present tendencies of the trade-union movement in the United States, England, France, Germany, and Italy.
    [Alfred Marshall, Elements of Economics of Industry: being the First Volume of Elements of Economics (London: Macmillan, 1892), Book VI, Ch. XIII. §18, p. 404]
  5. “Trade-unions have been stronger in England than on the Continent, and in America; and wages have been higher in England than on the Continent, but lower than in America.” “Again, those occupations in which wages have risen most in England happen to be those in which there are no unions.” How far do such facts impeach the effectiveness of trade-unions as a means of raising wages and improving the condition of workingmen? What do you conceive to be the economic limits and the proper sphere of trade-union action?
    [Alfred Marshall, Elements of Economics of Industry: being the First Volume of Elements of Economics (London: Macmillan, 1892), Book VI, Ch. §18, pp. 404-405.]
  6. “We saw at the beginning that in comparatively recent years the difficulties of keeping up a purely offensive and defensive organization had brought many of the unions back nearer their old allies, the friendly societies, and emphasized the friendly benefits in proportion as the expenditure for trade disputes seemed less important.” Explain carefully this earlier and later relation of trade-unions and Friendly Societies in England.
    [Edward Cummings, The English Trades-Unions, Quarterly Journal of Economics, Vol. III (July, 1889), p. 432.]
  7. “This spirit of independent self-help has its advantages and its disadvantages. We have already had occasion to remark how slow in these Friendly Societies has been the progress of reform, and we must repeat that up to the present day it still exhibits defects.” Explain and illustrate the progress of the reform and the nature of existing defects. Does English self-help experience suggest the desirability or undesirability of imitating German methods of compulsory insurance?
  8. “Countless[sic, “Doubtless” in original] boards of arbitration and conciliation, the establishment of certain rules of procedure, agreements covering definite periods of time, may aid somewhat in averting causes of dispute or in adjusting disputes as they arise; but if we have these alone to look to, strife will be the rule rather than the exception.” Explain the various methods adopted and the results obtained. What have you to say of “compulsory arbitration?”
    [Francis A. Walker. “What Shall We Tell the Working Classes?” Scribner’s Magazine, Vol. 2, 1887.  Reprinted in Discussions in Economics and Statistics, edited by Davis R. Dewey. Vol. II315-316.]
  9. “The conclusion of the whole matter seems to be, that what is desirable is not so much to put a stop to sub-contracting as to put a stop to ‘sweating,’ whether the man who treats the workman in the oppressive manner which the word ‘sweating’ denotes be a sub-contractor, a piece-master, or a contractor.” Indicate briefly some of the principal forms of industrial remuneration, — giving the special merits and defects of each.
    [David F. Schloss. Methods of Industrial Remuneration (London: Williams and Norgate, 1892), p. 140.]
  10. “Now that I am on piece-work, I am making about double what I used to make when on day-work. I know I am doing wrong. I am taking away the work of another man.” State and criticize the theory involved in this view of production.
    [David F. Schloss. Methods of Industrial Remuneration (London: Williams and Norgate, 1892), p. 43-44.]

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94. Transcribed and posted earlier at Economics in the Rear-view Mirror.

Year-End Examination
ECONOMICS 9.
1893-94.

(Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience of different countries. Take the first three questions and four others.)

  1. “As soon, however, as the factory system was established, the inequality of women and children in their struggle with employers attracted the attention of even the most careless observers; and, attention once drawn to this circumstance, it was not long before the inequality of adult men was also brought into prominence.” How far is this true (a) of England, (b) of the United States? Trace briefly the legislative consequences for children and for adults in the two countries.
    [Arnold Toynbee. Lectures on the Industrial Revolution of the 18th Century in England (The Humboldt Library of Popular Science Literature, Vol. 13. New York: Humboldt Publishing Co.), p. 17.]
  2. “It will be necessary, in the first place, to distinguish clearly between the failure of Industrial Coöperation and the failure of the coöperative method—a method, as we have seen, adopted, even partially, by only a very small fraction of Industrial Coöperation.” Explain carefully, discussing especially the evidence furnished by France and England.
  3. “These four concerns—the Maison Leclaire, the Godin Foundry, the Coöperative Paper Works of Angoulême and the Bon Marché—are virtually coöperative; certainly they secure to the employers and stockholders the substantial benefits of purely coöperative productive enterprises, while they are still, logically, profit-sharing establishments.” State your reasons for agreeing or disagreeing. Indicate briefly the characteristic features of each enterprise.
  4. “What inferences are we to draw from the foregoing statistics? Unmistakably this, that the higher daily wages in America do not mean a correspondingly enhanced labor cost to the manufacturer. But why so?” Discuss the character of available evidence in regard to the United States, Great Britain and the continent of Europe.
    [E. R. L. Gould. The Social Condition of Labor (Baltimore: Johns Hopkins Press, January 1893), pp. 41-2.]
  5. “The juxtaposition of figures portraying the social-economic status of workmen of different nationalities in the country of their birth and the land of their adoption furnishes lessons of even higher interest. From this we are able to learn the social effect of economic betterment.” Explain. How do the facts in question affect your attitude toward recent changes in the character and volume of our immigration?
    [E. R. L. Gould. The Social Condition of Labor (Baltimore: Johns Hopkins Press, January 1893), pp. 35-6.]
  6. “The Senate Finance Committee issued some time ago a comparative exhibit of prices and wages for fifty-two years, from which the conclusion is generally drawn that the condition of the wage earner is better to-day than it was thirty or forty years ago. A conclusion of this kind reveals the weakness of even the best statistics. No one can doubt that the work of the Finance Committee is work of high excellence, but for comparing the economic condition of workers it is of little value.” Do you agree or disagree? Why? Indicate briefly the character of the evidence.
  7. What are the principle organizations which may be said to represent the “Labor Movement” in the United States at the present time? How far are they helpful and how far hostile to one another?
  8. “In a preceding chapter I have said that as a moral force and as a system the factory system of industry is superior to the domestic system, which it supplanted.” State your reasons for agreeing or disagreeing.
    [Carroll D. Wright. Factory Legislation from Vol. II, Tenth Census of the United States, reprinted inFirst Annual Report of the Factory Inspectors of the State of New York (Albany, 1887), p. 41.]
  9. Contrast the English and the German policy in regard to Government Workingmen’s Insurance.
  10. “Gladly turning to more constructive work, I next consider some industrial changes and reforms which would tend to correct the present bias towards individualism.” What are they?
  11. Give an imaginary family budget for American, English and German operatives in one of the following industries, — coal, iron, steel, cotton, wool, glass, indicating roughly characteristic differences in such items as throw most light on the social condition of labor.

Source: Harvard University Archives. Harvard University, Examination papers, 1873-1915. Box 4, Volume: Examination Papers, 1893-95. pp. 39-41. Transcribed and posted earlier at Economics in the Rear-view Mirror.

______________________

Economics 10.
The Elements of Economic History from the Middle Ages to Modern Times.
1893-94.

[Economics] 10. Professor Ashley. — The Elements of Economic History from the Middle Ages to Modern Times. 3 hours.

Total 51: 6 Gr., 17 Se., 20 Ju., 4 So., 1 Fr., 3 Others.

Source: Harvard University. Annual Report of the President of Harvard College, 1893-94, p. 61.

1893-94.
ECONOMICS 10.
Mid-Year Examination.

 

  1. A modern writer has insisted upon the difference between the point of view of economic history and the point of view of constitutional history. Consider this in relation to the growth of mediaeval towns.
  2. Distinguish briefly between the various processes known as “Enclosure,” and explain their relation to the open-field husbandry.
  3. What light does the history of the English woollen industry throw upon the question as to the relation between the gild and the domestic workshop?
  4. “Only one who is unacquainted with social conditions under Henry VIll. and Edward VI. can maintain that the Reformation was not responsible for English pauperism.” Discuss this.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94.

1893-94.
ECONOMICS 10.
Final Examination.

[Candidates are requested to answer only six questions, of which the first should be one.]

  1. Translate and comment upon:
    1. Omnes isti sochemanni habent viii carrucas, et arant iii vicibus per annum. Et quisquis eorum metit in Augusto de blado domini dimidiam acram et ii vicibus in Augusto precationem.
    2. Sciatis me concessisse … civibus meis in Oxenforde omnes libertates et consuetudines et leges et quietantias quas habuerunt tempore regis Henrici avi mei, nominatim gildam suam mercatoriam cum omnibus libertatibus et consuetudinibus in terris et in silvis pasturis et aliis pertinentiis, ita quod aliquis qui non sit de gildhalls aliquam mercaturam non faciet in civitate vel suburbiis.
  2. Give some account of the changes in trade-routes during the sixteenth century.
  3. Describe the organization of industry in the middle of the reign of Elizabeth.
  4. Compare the Enclosures of the eighteenth century with those of the sixteenth.
  5. What was the condition of the mercantile marine of New England in the eighteenth century? What connection was there between this condition and the Navigation Acts?
  6. Institute a comparison between the reforms of Stein and Hardenberg and recent agrarian legislation in Ireland, or any other country with which you are familiar.
  7. What light is cast upon the teaching of (1) Adam Smith, (2) Malthus, (3) Ricardo, by contemporary economic conditions.
  8. Estimate the importance of Arthur Young in the economic history of England.
  9. What seem to you the most characteristic features of the economic development of the United States during the present century as contrasted with England.

Source: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 42-43.

___________________________

Economics 12 (First Semester).
Banking and the History
of the leading Banking Systems
1893-94.

 Enrollment.

[Economics] 121. Professor Dunbar. — Banking and the History of the leading Banking Systems. 3 hours. 1st half-year.

Total 50: 10 Gr., 24 Se., 15 Ju., 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 62.

1893-94.
ECONOMICS 12[1].
Mid-Year Examination

  1. Which system of banks appears to present the greatest advantages, — (a) one with a powerful central bank as in England and Germany: (b) an aristocracy of strong banks as in Scotland; or (c) a democracy of banks as in this country?
  2. In any period of financial pressure, would the Bank of England he under any obligation, legal or moral, to act for the relief of the public, if such action involved risk or loss to its stockholders? What would be the source of such obligation, if any exists?
  3. The German bank act requires every bank to hold cash, (a) for all notes issued by it above its limit of uncovered issue: (b) and amounting to at least one third of all the notes issued Why is it that notes of other banks can be reckoned as cash in one of these cases, but not in the other?
  4. What is to be said as to the proposition frequently maintained. that “note issue is in reality a function of the State as much as coinage, and should not be delegated to corporations or to private hands?”
  5. If we hold that all note issues need to be kept under national control, in order to secure uniformity of value, what ground is there for denying that all deposit banking needs the same control for the same reason?
  6. Supposing the securities required for deposit under the national banking system to be abundant and fairly attractive as investments, — would that system afford an elastic currency?
  7. To the plan of securing notes by a safety fund (as practiced formerly in New York and now in Canada), it has been objected that it would be unjust to require well-managed banks to pay for losses incurred by weak or imprudent ones, and that a premium would be offered for bad management. How much weight is there in this objection?
  8. To the plan of making the notes of a bank a first lien on its assets it has been objected,—
    “It deprives the bank of the fund which is the basis of its credit in asking for deposits Without the deposit the banks cannot do a profitable business. It is difficult to believe that, the capital being subjected to a first lien for the amount of the notes, and there being always the possibility of an over-issue of such notes, the credit of the bank in its discount and deposit business would not be impaired. is calling upon the capital to do a double work when it is already loaded with the single task of inspiring confidence in the people who have to make deposits.”
    What is the answer to this objection?
  9. Discuss the following extract from the Commercial and Financial Chronicle of May 14th, 1892:—
    “Every prerogative and attribute even of our bank notes, and still more of our silver certificates, tends to draw them away from the interior, even when the issuer is resident in a Southern or Western State, and lodge them in an Eastern city. [The semi legal-tender quality of the national bank circulation and its redemption at the Treasury help to make its movements unnatural, artificial, and impart to it a roaming character helping to force it away from the issuer, away from the country districts where it is needed, and consequently to induce its accumulation when out of active commercial employment in the great financial centres, and while there to foster and become more or less fixed in speculative ventures — that is unresponsive to commercial influences when needed for commercial work?”

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94.

___________________________

Economics 12 (Second Semester).
International Payments and the Flow of the Precious Metals.
1893-94.

Enrollment.

[Economics] 122. Professor Dunbar.—International Payments and the Flow of the Precious Metals. 3 hours. 2d half-year.

Total 38: 12 Graduates, 18 Seniors, 7 Juniors, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 62.

1893-94
ECONOMICS 122.
Final Examination.

  1. Mr. Goschen says that while a gold currency existed on both sides of the Atlantic the actual par of exchange between New York and London was about 109. What is the explanation of this method of stating the point of equilibrium?
  2. Is Clare justified in making the general statement that “the gold-points mark the highest level to which an exchange may rise, and the lowest to which it may fall?”
  3. What effect would the current rate of interest (as e.g. in a tight money market, either in the drawing or in the accepting country,) have on the rates for sixty-day bills as compared with cash bills?
  4. Clare makes the remark that “as the rate of exchange between two countries…must be fixed by the one who draws and negotiates the bill, it follows that the exchanges between England and most other countries are controlled from the other side, and that we in London have scarcely part or say in the matter.” Is the rate then a matter of indifference to those in London?
  5. Why is it that in certain trades bills are drawn chiefly, or even exclusively, in one direction, as e.g. by New York on London and not vice versa; and how is this practice made to answer the purpose of settling payments, which have to be made in one direction as well as the other?
  6. Mr. Goschen says that the primary cause which makes England the great banking centre of the world is “the stupendous and never-ceasing exports of England, which have for their effect that every country I the world, being in constant receipt of English manufactures, is under the necessity of making remittances to pay for them, either in bullion, in produce, or in bills.”
    Compare this statement with the fact that for ten years past the imports of merchandise into England have averaged about £400,000,000 annually, and the exports from England have averaged a little under £300,000,000.
  7. Suppose the exportation of specie from the United States to be prohibited (or, as has sometimes been suggested, to be slightly hindered,) what would be the effect on rates of exchange, and on prices of goods, either domestic or foreign? Would the country be a loser or not? [See Ricardo (McCulloch’s ed.) p. 139.]
  8. State Mr. Cairnes’s general doctrine as to the movement of prices which determines the normal flow of new supplies of gold from one country to another in the process of distribution over the commercial world.
  9. Cairnes argues that, as the effect of the cheapening of gold, “each country will endure a loss;” but that in particular cases “the primary loss may…be compensated, or even converted into a positive gain.” State and discuss the reasoning on which this proposition rests.
  10. Say, in his Report on the Indemnity, says:—
    La France a, en réalité, (1) fait passer à l’étranger le plus de capitaux possible, en prenant tous les changes qu’elle pouvait acquérir sur quelque pays que ce fût, et (2) a ensuite dirigé sur l’Allemagne tout ce qu’elle avait approvisionné ailleurs.

    1. What reason was there why France should prefer the course described in (1) rather than a direct transfer to Germany?
    2. What movements of trade or capital, of any sort, made the course described in (1) possible or easy?
    3. What movements of the same nature made (2) possible, or enable Germany to absorb the capital thus turned towards her?

*  *  *  *  *  *  *

  1. On either of the following topics, give an orderly and concise statement, as complete as you can make it in thirty minutes:—
    1. Sidgwick’s criticisms on Mill’s doctrine of international trade and their validity.
    2. The supply and distribution of the new gold from the United States and Australia, 1858-70.
    3. The action of the new gold in the banking countries.
    4. The absorption of new gold by the currency of France and the foreign trade of that country.
    5. The reasons for the varying ability of India to absorb silver?

Source:  Harvard University Archives. Final examinations, 1853-2001. Box 2, Papers set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 44-46. Transcribed and posted earlier in Economics in the Rear-view Mirror.

____________________

1893-94
Enrollment for Economics 13.
The Development of Land Tenures and of Agrarian Conditions in Europe.

Enrollment.

[Economics] 13. Professor Ashley. – The Development of Land Tenures and of Agrarian Conditions in Europe. 1 hour.

Total 2: 1 Graduate, 1 Senior.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 61.

Note: No printed final examination in the collection of Harvard semester examinations.

____________________

Economics 14.
Ideal Social Reconstructions
from Plato to the Present.
1893-94.

Enrollment.

[Economics] 14. Asst. Professor Cummings. — Ideal Social Reconstructions, from Plato’s Republic to the present time. 1 hour.

Total 22: 7 Graduates, 8 Seniors, 5 Juniors, 2 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1893-94, p. 61.

ECONOMICS 14.
Mid-year examination, 1893-94.

(Arrange your answers in the order of the questions. Omit one.)

  1. What is a Utopia? and what significance do you attached to the recurrence of such literature at certain historical ethics?
  2. “For judging of the importance of any thinker in the history of Economics, no matter is more important to us than the view he takes of the laboring population.” Judge Plato, More and Bacon by this standard.
  3. “Moreover, it is hardly too much to say that Plato never got to the point of having a theory of the State at all.” In the Republic “man is treated as a micropolis, and the city is the citizen writ large.” Explain and criticize.
  4. “In More’s Utopia we have a revival of the Platonic Republic with additions which make the scheme entirely modern.… The economical element in the social body receives for the first time its proper rank as of the highest moment for public welfare.” Explain. To what extent have the ideals of Utopia been realized?
  5. “Then we may say that democracy, like oligarchy, is destroyed by its insatiable craving for the object which defines to be supremely good?” What, according to the Republic are the peculiar merits and defects of the several forms of political organization? and how are these forms related in point of origin and sequence?
  6. “Sir Thomas More has been called the father of Modern Communism.” How does he compare in this respect with Plato? How far do you trace the influence of historical conditions in each case?
  7. “But in your case, it is we that have begotten you for the State as well as for yourselves, to be like leaders and kings of the hive,– better and more perfectly trained than the rest, and more capable of playing a part in both modes of life.” Criticise the method and purpose of the educational system of the Republic. How far does Plato’s argument as to the duty of public service apply to the educated man to-day?
  8. “The religious ferment produced by the Reformation movement had begun to show signs of abatement, when another movement closely connected with it made its appearance almost at the same time in England and Italy, namely, the rise of a new philosophy.” How was this new philosophy embodied in the social ideals of Bacon and of Campanella? and what is the distinguishing characteristic of it?
  9. What essential contrast between pagan and Christian ideals have you found in schemes for social regeneration?
  10. Is there any recognition of “Social Evolution” in the Utopian philosophies thus far considered?
  11. What in a word, do you regard as the chief defect of the social reconstruction suggested in turn by Plato, Lycurgus, More, Bacon and Campanella? To what main problems suggested by them have we still to seek an answer?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Volume: Examination Papers, Mid-Year, 1893-94. Previously transcribed and posted in Economics in the Rear-view Mirror.

 

ECONOMICS 14.
Final examination, 1893-94.

(Arrange your answers in the order of the questions.)

  1. [“]The essential unity and continuity of the vital process which has been in progress in our civilization from the beginning is almost lost sight of. Many of the writers on social subjects at the present day are like the old school of geologists: they seem to think that progress has consisted of a series of cataclysms.” How far is this criticism true? Is the characteristic in question more or less conspicuous in earlier writers?
  2. “At the outset underneath all socialist ideals yawns the problem of population…. Under the Utopias of Socialism, one of two things must happen. Either this increase must be restricted or not. If it be not restricted, and selection is allowed to continue, then the whole foundations of such a fabric as Mr. Bellamy has constructed are bodily removed.” State carefully your reasons for agreeing or disagreeing. In which of the schemes for social reconstruction, ancient or modern, do you find any adequate recognition of the part which selection plays in progress?
  3. “If it is possible for the community to provide the capital for production without thereby doing injury to either the principle of perfect individual freedom or to that of justice, if interest can be dispensed with without introducing communistic control in its stead, then there no longer stands any positive obstacle in the way of the free social order.” Discuss the provisions by which Hertzka hopes to guaranteed this “perfect individual freedom.” Contrast him with Bellamy in this respect.
  4. “I perceive that capitalism stops the growth of wealth, not – as Marx has it – by stimulating ‘production for the market,’ but by preventing the consumption of the surplus produce; and that interest, though not unjust, will nevertheless in a condition of economic justice becomes superfluous and objectless.” Explain Hertzka’s reasoning and criticise the economic theory involved.”
  5. What is the gist of “News from Nowhere”?
  6. The condition which the social mind has reached may be tentatively described as one of realization, more or less unconscious, that religion has a definite function to perform in society, and that it is a factor of some kind in the social evolution which is in progress.” How far have you found a recognition of this factor in theories of social reconstruction?

Source: Harvard University Archives. Final Examinations, 1853-2001. (HUC 7000.28). Box 2, Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894.

Also: Harvard University Archives. Harvard University, Examination papers, 1853-2001. Box 2, Volume: Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1894, pp. 46-47. Previously transcribed and posted in Economics in the Rear-view Mirror.

 

Source: Left-to-right: Dunbar, Taussig, Ashley. From University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol II (1899), pp. 159 [Dunbar], 595 [Ashley].   Vol. III (1899), p. 99 [Taussig]

Categories
Economics Programs Harvard Undergraduate

Harvard. Economics Chair annual reports to Dean, 1932-1941

 

This post takes us from the trough of the Great Depression to the eve of the U.S. entry into the Second World War. The items below are transcriptions of copies of reports written by the Harvard economics department chairmen of the time (Harold Hitchings Burbank (a.k.a. Burbie to his Buds) and Edward Hastings Chamberlin. Some chest-thumping, some whining, no notes of irony and definitely no flashes of wit…we all know this art form. Nevertheless some raw intelligence of value for working historians of economics of the present and future.

____________________________

November 12, 1932

Dear Dean Murdock,

Under the Faculty vote of December, 1931, the Chairman of each Department is requested to report in each half year to the Dean of the Faculty on the working of the plan recommended by the Committee on Instruction concerning Hour Examinations and Other Course Requirements. My report for the Department of Economics follows.

Acting on the Report from the Committee on Instruction, the Department of Economics on January 12, 1932 voted to observe the recommendations of the Committee. Following the Department meeting, I reported to you to the effect that the requirements of the Department of Economics were substantially in accord with the principles laid down by the Committee on Instruction. Ordinarily, we require not more than one Hour Examination in any one half year; ordinarily, we require not more than one thesis or report in any one half year. It is the standing rule of the Department of Economics and of the Division of History, Government, and Economics, that Senior candidates for Honors, who are writing Honors theses, shall be excused from the writing of any theses in courses within the Division. After a long discussion and with considerable reluctance, the Department voted that for Seniors who are candidates for Honors in the Division, Hour Examinations in courses within the Department shall be optional.

The vote of the Department was made known immediately to the students and observed in all of our undergraduate course (not of an introductory nature) during the second half of last year, and it is being observed in the current half year.

In the Division of History, Government, and Economics, we have had for many years a rule that all Seniors in good standing shall be exempted from final examinations in courses within the Division in their last half year. The result has been, of course, that after the April Hour Examinations, Seniors have paid little attention to courses within in the Division, and their attendance has been hardly more than occasional. The members of the Department who are more interested in courses than in General Examinations, and who perhaps doubt the efficacy of General Examinations, view this situation with increasing criticism.

When the Department voted the making of Hour Examinations optional for Seniors who are candidates for Honors, the doubting members were highly critical, fearing that our courses elected largely by Seniors would be entirely disrupted. From all that I can learn, I cannot see that there have been any untoward or undesirable results. In most of our “Senior” courses, the attendance until the Easter recess was satisfactory. Honors candidates attended lectures and, I believe, completed most of the required readings. Their records on the General Examinations were excellent. The Honors theses were among the best we have ever had.

A number of members of my Department and not a few members of the Departments of History and Government are strongly opposed to the new order. They make the point that we have in substance permitted an additional reduction in courses, that Senior Honor candidates are simply required to register in courses, but they have nether to attend them nor to do the work. All of these allegations are true enough, but it seems to me they are beside the point. To the extent that we have confidence in our examiners and tutors, I do not believe that in effect the requirements regarding the quality and quantity or work have been reduced.

The Department of History has recommended to the other departments of the Division the consideration of a motion which would require all senior candidates for Honors to complete whatever courses in History they elect. I think that probably the departments of the Division will consider in full detail the questions this motion involves.

Sincerely yours,
H. H. Burbank

Dean Kenneth B. Murdock
20 University Hall

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

____________________________

1933
[not found]

A copy of the report is not found with the others included in this post: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

____________________________

October 15, 1934

Dear Dean Murdock,

I beg to submit the following report for the Department of Economics:

In this period of rapid economic evolution the problems presented to a group of university economists are both stimulating and perplexing. The changing pattern of our social and economic structure offers new data for analysis and at the same time calls for a testing of principle that involves new fields for both teaching and research.

There have been few periods in modern history more difficult to interpret, yet the responsibility for interpretation seems foremost among the duties devolving upon educational institutions. For many years the keystone of the introductory course in economics has been that the community has the right to expect political and economic leadership from the graduates of its colleges. Our undergraduate courses are directed toward the attainment of this end. But the teaching of political economy is an art not easily mastered even by those who give abundant evidence of intellectual leadership. In the instruction of undergraduates and in the training of teachers and scholars in our graduate school, the difficulties inherent in our subject must not be overlooked. The presentation of the data of economics makes demands upon the staff not felt in many other departments of the University. Looking toward the strengthening of our undergraduate instruction, the Department is now associating a number of the junior members of the staff with the senior members who are now in charge of the large lecture courses. In Money and Banking, in the Relations of Government to Industry, and in Public Finance, this experiment is advanced sufficiently to indicate its desirability.

At the same time that our teaching problems have become intensified the need for the results of research is pressing. In periods of accelerated social evolution involving political and economic experimentation, the demand for accurate data is insistent. Relatively, economics is a young science. The foundations of fact are still being established. Investigations that may have an important bearing upon government policy should not be delayed. The economists of this University have contributed largely to their subject, but always with scant facilities in material equipment and in time.

Among the many problems confronting us as a group, that of securing the time necessary for research is perhaps the most troublesome. To our exacting teaching requirements must be added the demands for public service. Since the establishment of this Department, the requests for such service heave been continuous. Of late the increasing calls have raised a question which must be considered by the University administration. The opportunities for service to governments are gratifying. Undoubtedly these services belong among the necessary functions of a university. But obviously they do divert a considerable part of our time and energy from our strictly defined duties. Over the years the University is enriched by such services, but at any given time the responsibilities attaching to teaching and research are interrupted. If the University Includes public service among its important functions, the personnel of the staffs affected should be so adjusted that the work can be performed without overtaxing our internal activities.

During the past your, the leave of absence of Professor John M. Williams was continued to allow him to serve as Economist of the Federal Reserve Bank of New York to advise on monetary and credit policies, and to direct research. In the latter part of the year, Professor Williams was called by the Department of State to investigate certain conditions in Brazil, Uraguay [sic], Argentina, and Chili [sic]  and to formulate policies of exchange controls. Daring the second half-year, Assistant Professor Edward H. Chamberlin was granted leave of absence to work with the Committee on Government Statistics and Information Services in Washington. Also, during the second half-year, though leave was not requested, Assistant Professor William T. Ham was in Washington frequently, serving as a member of the staff of the Labor Advisory Board of the National Recovery Administration. And also, though no leave was requested, Professor John D. Black devoted a substantial part of the year to public service. He served on a number of committees connected with the Agricultural Adjustment Administration and land utilization. At the request of Secretary Wallace, he organized and directed the activities of committees outlining programs of economic research in (1) the marketing of farm products and (2) farm population and rural life. Also at the request of the Secretary of Agriculture, he served with two others to coordinate the work of the Agricultural Adjustment Administration and the Bureau of Agricultural Economics of the United States Department of Agriculture. In the summer months, Drs. Alan Sweezy and Lauchlin B. Currie were called to the Treasury Department to serve as special investigators.

Owing to his illness, Professor Emeritus William Z. Ripley was unable to fulfill his duties as President of the American Economic Association. In his absence, Professor Abbott P. Usher, first Vice-President of the Association, was in charge of the December, 1933 session.

Notable among our publications of the year were Twenty Years of Federal Reserve Policy, by S. E. Harris, and The Theory of Monopolistic Competition, by E. H. Chamberlin. Because of its significance for immediate practical application, I am including at this point the Report of the Committee on Model State and Local Taxation, by Professor C. J. Bullock’s committee of the National Tax Association. Also at this point, mention should be made of Economics of the Recovery Program, by seven members of the Department. In the course of the year, about forty-five articles were contributed to scientific journals by various members of the Department.

Within the limitations described above, the research work of the staff is going forward at a satisfactory rate. Investigations in the following subjects are well advanced: History of the Industrial Revolution; Development of Banking and Credit in the Sixteenth and Seventeenth Centuries; Evolution of English Company Law; Economic Fluctuations; Nature and Effects of Inflation; Index Numbers; Municipal Ownership of Public Utilities; State and Local Taxation; Unbalanced Budgets; The National Income; New England Agriculture; The Economics of Agricultural Production; German Trade Unionism; The Fundamentals of Sociology; Economics and Politics; Socialism as an International Movement.

A considerable number of these projects are nearing completion and should be ready for publication shortly. A large project on the relation of Government to Industry involving the efforts of a number of the staff is in its initial stages. This subject is of such immediate importance that other plans for research are being put aside until it can be carried to its completion. The Quarterly Journal of Economies has continued its usual high standard. During the year, five substantial volumes were added to the Harvard Economic Studies.

Again I would press the point that the potential research capacity of the Department is severely handicapped by the demands of teaching and public service.

Sincerely yours,
H. H. Burbank

Dean Kenneth B. Murdock
20 University Hall

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

____________________________

October 18, 1935

Dear Dean Birkhoff:

I beg to submit the following report for the Department of Economics.

In the report of last year the effects of the contemporary political and economic situation upon our problems of teaching and research were discussed briefly. More than ever we are aware of the responsibilities incumbent upon the teacher of Economics in this period of rapid and far-reaching change. Our undergraduate instruction had been, and is, receiving particular attention. A few years ago we began experimentally the association of a number of the junior members of the staff with the senior members who are nominally in charge of the larger lecture courses. We are quite convinced that this method of instruction is most effective. Also there is a positive, although perhaps incidental, advantage in this arrangement in that it relieves the pressure for the multiplication of undergraduate courses.

I find it necessary to stress again the problem presented by the demands upon our staff for services to the public. We believe that public service belongs among the necessary functions of a university. But under existing conditions large demands for public service at any given time bring serious interruptions to both research and instruction. “If the University includes public service among its important functions the personnel of the staffs affected should be so adjusted that the additional work can be performed without taxing severely our internal activities.”

I am very happy, to write that Professor Chamberlin’s “The Theory of Monopolistic Competition”, published somewhat over a year ago, has won immediate recognition as a foremost contribution to economic theory. During the past year two books of unusual importance have appeared,—Professor John D. Black, “The Dairy Industry and the A.A.A.”, and Professor Sumner Slichter, “Towards Stability”. Six manuscripts have been completed, and should appear in book form during the present year. It is significant that five of these books have been written by the younger members of our Department whose teaching duties have been mainly of a tutorial nature. Among the publications I should note the report submitted to the Treasury Department on the “Objectives and Criteria of Monetary Policy” by Dr. Alan Sweezy, and the report to the State Department on “Foreign Exchange Control in Latin America” by Professor John Williams.

In addition to the above volumes and reports the members of the Department published somewhat over fifty articles in the scientific journals of our subject. Some of these contributions are of major importance.

The investigations of the staff are being carried forward as satisfactorily as possible with the limited facilities that are at our disposal. Two researches on a very large scale have to do with the general subject of the Trade Cycle and the Relation of Government to Industry. Numerous important, but less extensive, investigations are in process.

Perhaps I should note here that a generous grant from the Rockefeller Foundation enabled the Department to undertake the continuation of the Review of Economic Statistics and the fundamental research that is involved in this publication, The Quarterly Journal of Economics long published by the members of this Department, together with the Review of Economic Statistics, are among the more important activities of the Department. In the course of the year three volumes more added to the Harvard Economic Studies.

As in my last report, I would again bring to your attention the disturbing fact that the potential research capacity of the Department is handicapped severely by the demands of administration, teaching, and public service.

Very sincerely yours,
H. H. Burbank

Dean George D. Birkhoff

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

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October 15, 1936

Dear Dean Birkhoff:

I beg to submit the following report for the Department of Economics.

I find it necessary to emphasize again the effects of the contemporary political and economic situation upon our problems of teaching and research. It had been necessary to bring these matters to your attention in both of the preceding years, since they present such important problems to us. We feel an increasingly positive responsibility regarding out undergraduate instruction in this period of rapid and far-reaching change.

We have continued the experiment begun some few years ago of the association of a number of the junior members of the staff with the senior members who are in charge of the large lecture courses. We believe that we are improving our instruction by this method, and at the same time this arrangement tends to relieve the pressure for the multiplication of undergraduate courses.

Perhaps as a result of the general social situation the elections of our undergraduate courses and the number of concentrators in Economics have increased very heavily. The problems of instruction presented by these overwhelming numbers are intensified perhaps by the personnel situation in which the Department finds itself. During the last dozen years the personnel of this Department—one of the largest in the University—has been changed completely. For a quarter of a century a group of eminent economists brought great prestige to the University. With the resignation of Professor Gay the active services of this group has come to an end. One cannot speak of replacing these scholars. They were unique both as individuals and as a group. Their leadership and their scholarship has left a lasting impression on the development of Economics. In the course of the passing of this group a now Department has been brought together. This new and younger Department is assuming full responsibility at the very time when questions of teaching and new methods of research are becoming insistent.

The demands upon members of our staff for public service continue. It has seemed expedient to encourage some few members to give their time and energy for public purposes. But with a minimum teaching force it has not been possible for all members of the Department to comply with the requests made. The public service relations of faculty members remains a question for the University to consider.

The Quarterly Journal of Economics celebrates this year its fiftieth anniversary. For forty years this Journal has won and held its prestige under the editorship of Professor F. W. Taussig. Professor Taussig, now emeritus, has graciously consented to continue as editor during the present year, but very shortly it will be necessary for us to provide for the editorial direction of this very important publication.

In an earlier report to you I indicated the activities of the Department in connection with the Review of Economic Statistics. The scientific work underlying this publication, as well as the journal itself, is now under the direction of a committee of the Department. The Review continues as a vehicle of publication of the results of investigations here and elsewhere regarding the business cycle. We have ambitious plans for the Review, and we have every reason to believe that its scientific usefulness will increase.

There is little question that, the research activities of practically all members of the staff have been curtailed by the heavy teaching loads which have been imposed. However, the research programs of various members and of various groups within the Department have shown marked progress in the past year. As I have indicated in an earlier report the research activities of our members are of two somewhat different types. Numerous members of the staff working altogether independently are pursuing their own researches while others working as a group are developing particular aspects of a well devised project in research. In the social sciences this latter type of work is rapidly assuming importance. In general it is this type of research which receives the support of the large foundations. Within our own group there are a number of projects of this character. Messrs. Mason, Chamberlin, Wallace, Cassels, Reynolds, and Alan Sweezy are developing Industrial Organization and Control. In the process of the exploration of this subject numerous independent volumes and studies will appear. Professors Mason, Chamberlin and Dr. Wallace are already well advanced in their study of monopolistic combinations and expect to complete it in about one year. Professor Cassels and Dr. Reynolds expect to finish their study on Canadian combinations this year, and Dr. Alan Sweezy is at work on investment policies. Dr. Wallace’s monograph, Market Control in the Aluminum Industry, is now going to press, and Dr. Abbott’s monograph on The Rise of the Business Corporation has just appeared and is being, used by our undergraduate courses. The full development of this program will take a number of years, but its completion will mark, I believe, a very significant chapter in research in the relation of government to industry.

Another cooperative project on the Farm Credit Administration is being carried on by Professors Black and Harris and Dr. Galbraith, largely with the assistance of grants from the Committee on Research in the Social Sciences. Professor Black is working on the cooperative aspects of the Farm Credit Administration’s policies. Professor Harris is working on the monetary and recovery aspects of the Farm Credit Administration’s loan operations. Dr. Galbraith is working on the structural aspects of the Farm Credit Administration and the mortgage, credit and production loan policies. Numerous articles resulting from this research have been published in scientific periodicals.

Professors Crum, Wilson, and Black are conducting a study of the relation of weather and other natural phenomena with the economic cycle. This study is partly financed by the United States Department of Agriculture.

I believe I have mentioned to you and to President Conant in conversation the plans which are being developed for large research projects in collaboration with the National Bureau of Economic Research.

In addition to these cooperative projects all members of the Department are pursuing work along the lines of their individual interests. Professor Schumpeter’s study of time series and cyclical fluctuations is practically completed, and he hopes to send it to press by December. Professor Haberler’s major contribution—The Theory of International Trade and Its Application to Commercial Policy has been translated and is now available in English. For the past two years Professor Haberler has been working at Geneva on the Nature and Causes of the Recurrence of Economic Depressions which is soon to be published by the League of Nations. We are hoping to provide facilities for him so that the important research may be continued at Harvard. Professor Frickey’s study on a Survey of Time Series Analysis and Its Relation to Economic Theory is well advanced. The statistical work on the first volume has been completed, and he hopes to have it written by the middle of this present academic year. The statistical work on the second volume has been completed in part. Already two significant articles have been published. Professor Cole’s recent study in Fluctuations in American Business, written in collaboration with Professor W. B. Smith, was published late in 1935. Dr. Oakes’ investigations in Massachusetts Town Finance, the winner of the Wells Prize for 1935-36, is now being printed. Professor Chamberlin has continued to elaborate his Theory of Monopolistic Competition which is winning wide recognition among economist the world over. Numerous articles, some sixty in number, from members of the staff have appeared in various scientific periodicals in the course of the year.

Very sincerely yours,
H. H. Burbank

Dean George D. Birkhoff
20 University Hall
Cambridge, Massachusetts

[Separate sheet following: I should have included Professor Harris’ Exchange Depreciation, Its Theory and History. We believe that this new book, which is being published today, will take Its place beside the significant contributions Professor Harris has made in the last half-dozen years, particularly his Monetary Problems of the British Empire and Twenty Years of Federal Reserve Policy.]

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

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October 21, 1937

Dear Dean Birkhoff:

I beg to submit the following report for the Department of Economics.

Previous reports of the Department of Economics have brought to your attention the effect of the political and economic situation upon our problems of teaching and research. It is still necessary to point out that the positive responsibility of the Department regarding undergraduate instruction has not lessened.

The election of our undergraduate courses remains at substantially the high level of recent years, while the number of concentrators continues to increase.

Last year I mentioned that with the resignation of Professor Gay the active services of the senior members of this Department, had come to an end. At this point it seems necessary to put into writing a matter I have discussed with you in conversation which has important ramifications. Coincident with the resignation of Professor Gay there were increased elections in certain of our courses that involve a large degree of individual instruction and also on an increase in the number of students demanding tutorial supervision. To meet these latter problems it was necessary to add to our staff a group of young men to carry on the instruction in the elementary course, Accounting, Statistics, Money and Banking, and so on. With increased numbers in courses demanding increased instruction, increased cost cannot be avoided; but it seems to us that this increasing cost because of increasing should not result in less effective intellectual leadership. To transfer a considerable part of the salary released by a retiring professor of distinguished accomplishment to the support of routine instruction in middle group courses seems to us not to be wise University policy.

Professor Taussig has resigned as editor of the Quarterly Journal of Economies. For the time being, committee of the Department will undertake the editorial direction of this publication.

The Review of Economic Statistics, which appears under the direction of a committee of the Department, is financed by funds from the Rockefeller Foundation. Should the grant be continued, it is expected that the research activities of the committee will be increased.

Not less than ten members of the Department are concerned with the activities of the Graduate School of Public Administration. In some instances—as in the case of Dean Williams—their work in the School has been compensated by a reduction of work in the Department, but for the most part the activities in the new School are simply in addition to the duties of the staff members.

The Committee on Research in the Social Sciences, of which Professor Black is Chairman, is working in close cooperation with the National Bureau of Economic Research and its cooperating University agencies. Principle among them is the project upon Fiscal Policy for which Professor Crum is acting as Chairman.

The responsibilities and activities of members of the Department tend in some instances to change the direction of our research, but in only too many instances they also tend to retard our research.

In all directions, however, the research activities of the members of the Department were sustained, with six books and approximately sixty articles appearing. Special mention should he made of the following books:

Three Years of the AAA by John D. Black

A Study of Fluid Milk Prices by John M. Cassels. Wells Prize Essay of 1934-35

Professor Chamberlin’s significant volume, The Theory of Monopolistic Competition has been revised.

Prosperity and Depression by Gottfried Haberler

Exchange Depreciation by S. E. Harris. (Came from the press last fall, and mentioned a year ago.)

Studies in Massachusetts Town Finance by E. E. Oakes. Wells Prize Essay of 1935-36

Professor Schumpeter’s book on Business Cycles has been completed, and is now ready for the press.

Economic History of Europe since 1750 by Usher, Bowden, and Karpovich

Explorations in Economics. Essays in Honor of F. W. Taussig contains contributions by most of the members of the staff.

Very sincerely yours,
H. H. Burbank

Dean George D. Birkhoff
20 University Hall
Cambridge, Massachusetts

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

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October 15, 1938

Dear Dean Birkhoff,

I beg to submit the following report for the Department of Economics.

As in previous years I am very happy, to be able to record that the research activities of the officers of the Department have been sustained. In the last two years I have been, able to enumerate an unusually large number of books actually published together with numerous contributions to our periodical literature. In the present year the number of volumes is smaller since the research activities of our staff are still in process. The most notable volumes are Professor Hansen’s Full Recovery or Stagnation and Professor Wallace’s Market Control in the Aluminum Industry. Professor Haberler devoted the major part of the year, and spent the summer abroad, revising his Prosperity and Depression. Also the volume by Professor Crum and Associates on Economic Statistics has been revised.

In all, some fifty or sixty periodical contributions have been made by members of the staff. Notable among these contributions have been the articles by Professor Slichter on “The Downturn of 1937” in the Review of Economic Statistics for August, 1938.

It fell to the lot of the officers of this Department, together with the officers of the Department of Government, to develop instruction in the Littauer School of Public Administration during the past year. Without going into the details of the principles upon which this instruction is based, it may be noted that research courses of a very advanced nature constitute the core of the work of the School. Professors Williams, Hansen, Black, Mason, Slichter, and Wallace are devoting a considerable proportion of their time to this work. It is expected and hoped that these activities will result in an increase in our contributions.

The grant of funds from the Rockefeller Foundation to subsidize the research underlying the Review of Economic Statistics expired with the closing of the fiscal year. This contribution made it possible to continue the Review, and to maintain the scholarly level of the contributions. In the course of the year the Review published a number of the contributions of the staff. Other contributions are nearing completion, and will be published in the present year. The accomplishments or Professors Crum and Haberler as Managing Editors of the Review should be noted. They have succeeded in restoring the very high level of scholarship which characterized the Review a decade ago. We believe that the Review in its present form adds materially to the prestige of the Department and the University.

Also I am happy to note that the Quarterly Journal of Economics under its new editorial staff is maintaining its high position.

There is little to be added to the points which have been discussed in previous reports. The Department finds itself fully occupied with the continuation of its traditional activities and the assumption of such new duties as are involved in the Graduate School of Public Administration. If the personnel of the Department remains constant, it will be necessary to reduce our activities, either in research, in teaching, or in both.

Last fall at a dinner of the Committee to Visit the Department of Economics I reported in some detail regarding the increasing activities of members of the Department. This report led to the appointment of a committee to investigate the budgetary situation of the Department. The investigation conducted under the direction of Mr. George May of Price, Waterhouse, made some very interesting disclosures regarding the increasing load of the Department.

I believe that problems of undergraduate and graduate instruction, the tutorial situation, and the public service contributions of our members have been discussed sufficiently in previous reports. I can only repeat that “there is little question that the research activities of practically all members of the staff have been curtailed by the heavy loads of teaching and administration.

Very sincerely yours,
H. H. Burbank

Dean George D. Birkhoff
20 University Hall
Cambridge, Massachusetts

 

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

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October 16, 1939

Dear Dean Ferguson:

In accord with your recent request, I submit herewith a report of the work by the Department of Economies for the past year.

Honors have been bestowed upon members of the Department as follows: Professor Schumpeter has received an honorary Ph.D. from the University of Sofia, Bulgaria, and Professor Leontief has been elected a Fellow of the Econometric Society. Professor Williams was elected a Vice-President of the American Economic Association.

In the field of publications, the outstanding event is the final appearance of Professor Schumpeter’s two volume work on Business Cycles: A Theoretical, Historical and Statistical Analysis of the Capitalistic Process. The fruition of years of study and research, this book is of especial interest as the first major work of Professor Schumpeter in the English language, his well-known Theory of Economic Development having appeared first in German before its translation into English much later. Other books actually appearing within the academic year (the fall of 1938) were referred to in our last report, such as Professor Hansen’s Full Recovery or Stagnation?, a revision of the volume on Economic Statistics by Professor Crum and associates, and a new, enlarged and revised edition of Prosperity and Depression by Professor Haberler (published by the League of Nations). During the year arrangements have been completed for the translation into Japanese of A History of Mechanical Inventions by Professor Usher. For some years Professor Emeritus F. W. Taussig has been at work on a thorough-going revision of his textbook on the Principles of Economics. Volume I appeared last spring, Volume 2 is in the press and will appear very shortly. This much needed revision (the last was in 1921) may regain for Professor Taussig’s text some of the preeminence it held in an earlier period before it had become so badly out of date. Politics, Finance and Consequences by Professor Emeritus C. J. Bullock, the result of continuing research since his retirement, has been published during the past year in the Harvard Economic Studies. A book of which Mr. Paul M. Sweezy was a prominent co-author, An Economic Program for American Democracy, is popularly supposed to have been influential in putting the stamp of economic authority upon recent economic policies of the Federal Government. Finally, some sixty-odd articles, addresses, and reviews by members of the Department have appeared in journals, both professional and popular, during the past year.

A matter not mentioned in our last report was a new policy adopted by the Quarterly Journal of Economics of publishing at intervals of approximately one year a series of supplements devoted to articles and studies of interest to scholars but of such length as to make their publication in the regular issues impractical. These supplements are sent to subscribers without charge, and additional copies are sold separately. The first of these appeared in May 1938, Rudimentary Mathematics for Economists and Statisticians by Professor Crum. Two other manuscripts have been accepted and will appear shortly.

The Committee on Problems of the Business Cycle has carried on the publication of the quarterly Review of Economic Statistics but because of the expiration of its grant of research money many of its new research investigation have been greatly curtailed. Quarterly issues of the Review of Economic Statistics, in addition to carrying the studies of current economic history which present a quarterly record of economic statistics for the United States with their interpretation, have published a wide range of articles on various aspects of the trade cycle problem. Several of these articles have been contributed by foreign specialists but more than half were produced by American writers (in this connection we may note that about one-fourth of the subscribers are located abroad). In addition to the normal research activities involved in studying current history the Committee has financed during the year a continuation of the special investigation by Dr. J. B. Hubbard of the remarkable developments in the issuance of securities since 1933. A further article in Dr. Hubbard’s series will appear in the issue of November 1939.

Mention has been made in previous reports of the burden placed upon particular members of the Department and thus upon the group as a whole by the responsibilities of public service. These responsibilities have continued and expanded during the past year. The adjustment of this burden is a pressing problem. Its immediate influence upon both teaching and research is adverse, yet no ready solution appears at hand. The additional burden of uncompensated teaching in the Graduate School of Public Administration presents an even more serious problem. For the most part the seminars and other activities of this School constitute a net additional load for those members of the Department responsible for them, and inevitably throw a heavier burden of administrative and other work upon others not directly concerned. Budgetary allowance for courses given within the School is an obvious answer to this problem, whenever it may become possible.

You have asked, among other things. for an account of “any changes in the methods of instruction”, of the Department. The changes here have been revolutionary. Over a long period of years there has been built up in the Department a staff of trained instructors and tutors, carrying on established traditions of teaching and constantly experimenting in the adaptation of methods to new problems. These men were sifted constantly, and the best of them retained for a substantial period, after which, if not advanced, they were without exception placed to advantage elsewhere. In view of the singular success with which in the past the personnel problem has been handled in Economics, it is not surprising that the Department is unanimous in viewing with dismay and discouragement the situation in which we now find ourselves. Fifteen teachers and tutors at the instructor or assistant professor level have left us within the past year, seven the preceding year. The general effect upon teaching may be indicated by the tutorial situation. Sixty-seven per cent of the students concentrating in Economics this year are tutored by men of two years or less experience, forty-three per cent by men of no tutorial experience whatsoever, Furthermore, it has been our policy in the past to stagger new men as between tutoring and Economics A, having them start in with either one alone and take up the other the following year. This fall we have been obliged to take on five men who are both teaching Economics A and tutoring for the first time. It has been our policy also to provide more experienced instruction in middle group courses through a period of apprenticeship in Economics A. This fall we have been obliged to put men of no classroom experience whatever directly into middle group courses. We are already experiencing in acute form the devastating effects upon instruction of a rapid turnover, brought on by the mass exodus of last year.

It takes time (and patience on the part of someone) to train men in the discussion method of teaching Economics which has been developed with such success in Economics A at Harvard University. Much is learned by slow experience, by making mistakes and by discussing techniques with fellow instructors, especially with those who have been through the mill. It is impossible to assimilate new men unless the collective experience of the group is maintained at a fairly high level. Furthermore, it seems unlikely that anyone in the Department will be interested in training them unless a substantial portion stay long enough to make it worth while.

Very sincerely yours,
H. H. Chamberlin

Dean W. S. Ferguson
20 University Hall
Cambridge, Massachusetts

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

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October 15, 1940

Dear Dean Ferguson:

I submit herewith a report of the work by the Department of Economics for the past year. There is very little to report—no events or changes of outstanding importance, and only a few isolated items which might be of interest.

Professor Black has been elected to honorary membership in the Swedish Royal Society of Agriculture. Professor Slichter has been honored by appointment as Lamont University Professor.

In the field of publications there is the usual long list of articles in the professional periodicals, but no major work of importance by any member of the Department. Professor Usher’s History of Mechanical Inventions was during the year translated into Japanese. Also in the field of publications it is of interest that there has been begun under the supervision of a committee in the Department and financed in part by a grant from the A. W. Shaw Fund a new series entitled The Harvard Studies in Monopoly and Competition. The first two volumes of this series appeared within the year, — the first, Corporate Size and Earning Power, by Professor W. L. Crum, and the second, Control of Competition in Canada, by Lloyd Reynolds.

The Committee on Problems of the Business Cycle has continued publication of the quarterly Review of Economic Statistics. In place of the general reviews of current economic developments in the United States, which in earlier years had been regular features of each quarterly issue, the Review introduced this past year the policy of presenting each quarter an article pertaining to some specific problem of current interest. The November 1939 issue contained a study of the impact of the war on America commodity prices; the February 1940 number included a study of the current gold problem and the American economy; a review of recent developments in agriculture and the influences of the war on American agriculture appeared in May; while the August 1940 issue presented a comparison and evaluation of various estimates of unemployment in the United States. These studies have been made by members of the Department, with the Committee staff contributing assistance, whenever it was desired, in the preparation of the articles for publication. As in previous years, the Review has also presented articles covering a wide range of studies on various trade cycle problems; and the Review staff has continued the compilation of selected current economic series which have been used in research studies by Department members and graduate student within the Department.

There have been no important changes in policy in the year by the Quarterly Journal of Economics. The policy begun the previous year of publishing occasional supplements sent to subscribers without charge has been continued. Two supplements appeared during the year, Exchange Control in Austria and Hungary and Exchange Control in Germany, both by Professor Howard S. Ellis. Through an arrangement with the Harvard Economic Studies they will shortly appear in that series as a single volume.

During the year Professor Emeritus Frank W. Taussig attained his eightieth birthday. A tribute and greeting was presented to him on this occasion signed by some two hundred of his former students.

I call attention again to the continuing problem of the added burden to members of the Department for uncompensated teaching in the Graduate School of Public Administration. The situation here remains substantially as described in my last report. It remains one of the most serious problems which the Department has to meet in maintaining the standards of its instruction.

The quality of instruction given by the Department continues to suffer from the heavy losses in the junior personnel during the past few years. Sixty-four per cent of the students concentrating in Economics this year are tutored by men of two years or less experience, fifty-five per cent by men of one year or less. The difficulties of maintaining satisfactory instruction with such a rapid turnover remain almost insuperable, and concentration in Economics which has fallen off steadily over the past four years slumped most disastrously for the year 1940-41. Although most of the liquidation of our more experienced instructors and tutors had taken place before the year on which I am reporting, we have during that year again lost a number of our best men because of the limited inducement which could be offered for them to remain with us even for a short period.

Sincerely yours,
H. H. Chamberlin

Dean W. S. Ferguson
5 University Hall
Cambridge, Massachusetts

 

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

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October 15, 1941

Dear Dean Ferguson:

I submit herewith a report on the work of the Department of Economics covering the past year.

Professor Slichter has been elected President of the American Economic Association. This is the third time in the past five years that this honor has gone to an economist from Harvard, Professor Sprague having been elected in 1937-38 and Professor Hansen in 1938-39.

In the field of publications there have appeared, in addition to the usual long list of articles, several books of possible importance. I should mention especially Professor Slichter’s Union Policies and Industrial Management, Professor Leontief’s The Structure of American Economy: An Empirical Application of Equilibrium Analysis, and Dr. Triffin’s Monopolistic Competition and General Equilibrium Theory. The latter appeared in the Harvard Economic Studies of which there have now been published 70 volumes, four within the past year. The new series of Harvard Studies in Monopoly and Competition has been augmented by two new volumes during the past year, bringing the total to four. Professor Usher’s History of Mechanical Inventions has again been translated, this time into Spanish. During the past year an arrangement was made with the Rockefeller Foundation (for the current year only) which if continued may prove to be of real importance to the members of our Department. Professor Crum has been relieved of one-half of his teaching duties for research through the payment by the Foundation of the salary of someone to replace him in his teaching assignment. In addition to providing possibilities for research to members of the Department, such an arrangement would have the added advantage of making it possible to invite to Harvard for short period either possible candidates for permanent appointments or others whose presence here for one year would prove stimulating to our students.

Again I call attention to the problem of the added burden to members of the Department for uncompensated teaching in the Graduate School of Public Administration. This has been from the beginning a serious matter in maintaining standards of instruction. It is especially a factor in concentrating the activities of the older members of the Department in the graduate field, leaving undergraduate instruction to be taken care of in undue degree by younger men whose experience on the average seems to decline further each year.

The quality of instruction by the junior staff continues to be a grave concern to our Department. Last year I mentioned that 64 per cent of the students concentrating in Economics were tutored by men of two years or less experience. This year the percentage has increased to 72, and the problem of finding enough experienced and competent tutors in the right fields for distinction seniors has become impossible to solve. The general situation is reflected also in Economics A where the percentage of new instructors has jumped alarmingly for the current year. For the five years 1936-41 the sections taught by new men averaged 24 per cent of the total. For the current year 39 per cent of the sections are taught by new men. For the same five years the sections taught by men of one year or less experience averaged 45 per cent of the total. For the current year this figure has advanced to 61 per cent. The large volume of complaints on the part of students as to the inexperience of their tutors and Economics A section instructors leaves no doubt in the minds of the Department that the continuing decline in concentration in Economies is mainly a reflection of this situation. In view of the competing opportunities for our younger men which have repeatedly been pointed out the problem for our Department continues to be not to maintain a high rate of turnover as the present rules of tenure seem designed to do, but to be able through more flexible arrangements both with respect to tenure and to salaries to maintain a staff sufficiently experienced to give satisfactory instruction to our undergraduates. Such instruction is clearly not being given at the present time.

Sincerely yours,
H. H. Chamberlin

Dean W. S. Ferguson
5 University Hall
Cambridge, Massachusetts

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (UAV 349.11). Box 2, Folder “Report to the Dean on the Department 1932-…”

Image Source: Harold Hitchings Burbank from the Harvard Class Album 1934.

 

Categories
Harvard Seminar Speakers

Harvard. Economics Seminary and Public Lectures. Speakers and Topics, 1913-1914

The economics seminary at Harvard featured a dozen speakers over the course of the 1913-14 academic year.  The department invited 27 year-old Josef Schumpeter (Theory of Crises) from the University of Vienna.

I have included the dates for two sets of major public guest lectures that were given by Wesley C. Mitchell (Business Cycles) and E. Dana Durand (Anti-trust and regulation), respectively.

Earlier posts with information on the Seminary of Economics at Harvard:

Seminary of Economics 1897-1898.

Seminary of Economics 1891/92-1907/08.

Request by Radcliffe Women to attend the Seminary of Economics, 1926.

Seminary of Economics 1929-1932.

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Monday, Sept. 29, 1913

Seminary of Economics. Meeting for Organization. Upper Dane, 4.30 p.m. All Graduate Students in Economics are invited to attend.

Source: Harvard University Gazette, Vol. IX, No. 2. Sept. 26, 1913, p. 7.

Monday, Oct. 20, 1913

Seminary of Economics. “The Administration of the State-Owned Railways of Prussia.” Professor W. J. Cunningham. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 5. Oct. 18, 1913, p. 27.

Monday, Nov. 3, 1913

Seminary of Economics. “The Organization of the Grain Trade on the Pacific Coast.” Mr. Wilfred Eldred. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 7. Nov. 1, 1913, p. 39.

Monday, Nov. 17, 1913

Seminary of Economics. “The German Potash Syndicate.” Mr. H. R. Tosdal. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 9. Nov. 15, 1913, p. 57.

Monday, Dec. 1, 1913

Seminary of Economics. “Pisan Industry in the Early Fourteenth Century.” Mr. F. C. Dietz. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 11. Nov. 29, 1913, p. 65.

Thursday/Friday, Dec. 4/5, 1913

Lectures. “Business Cycles. I and II.” Dr. Wesley C. Mitchell, formerly Professor of Political Economy at the University of California. (I) Emerson A, 4.30 p.m.; (II) Emerson A, 4.30 p.m.
These lectures, though addressed primarily to graduate students of Economics and students in the Graduate School of Business Administration, will be open to the public.

Source: Harvard University Gazette, Vol. IX, No. 11. Nov. 29, 1913, p. 66.

Monday, Dec. 13, 1913

Seminary of Economics. “New Jersey Business Corporations and Corporation Policy, 1791-1820.” Dr. J. S. Davis. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 13. Dec. 13, 1913, p. 81.

Monday, Jan. 12, 1914

Seminary of Economics. “The Development of Capital and National Wealth in Germany.” Professor Karl Rathgen, of the University of Hamburg. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 17. Jan. 10, 1914, p. 109.

Monday, Feb. 9, 1914

Seminary of Economics. “Some Aspects of the Quantity Theory of Money.” Professor Anderson. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 21. Feb. 7, 1914, p. 131.

Monday, Mar. 2, 1914

Seminary of Economics. “Some Aspects of the Quantity Theory of Money.” Professor Taussig. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 24. Feb. 28, 1914, p. 153.

Monday, Mar. 16, 1914

Seminary of Economics. “The Theory of Crises.” Professor Josef Schumpeter, of the University of Vienna. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 26. Mar. 14, 1914, p. 167.

Monday, Mar. 23, 1914

Seminary of Economics. “Recent Experience in Railroad Construction Finance.” Professor Ripley. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 27. Mar. 21, 1914, p. 173.

Monday, Apr. 6, 1914

Seminary of Economics. “International Trade Balances.” Dr. G.W. Nasmyth. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 29. Apr. 4, 1914, p. 185.

Monday/Tuesday, Apr. 13/14, 1914

Lectures. “What Shall We do with the Trusts? I. The Necessity of Regulation of Prohibition.” (Emerson D, 8 p.m.)  and II. “Possibility of Preventing Combination and Difficulties of Regulation.” (Emerson D, 11 a.m.) Professor E. Dana Durand, of the University of Minnesota.

Source: Harvard University Gazette, Vol. IX, No. 30. Apr. 11, 1914, p. 195.

Monday, May 25, 1914

Seminary of Economics. “United States Forest Policy.” Mr. John Ise. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 36. May 25, 1914, p. 231.

Image Source: Karl Rathgen: Fotosammlung des Geographischen Institutes der Humboldt-Universität Berlin.    Schumpeter: Ulrich Hedtke, Joseph Alois Schumpeter. Archive.

 

 

 

 

Categories
Economists Harvard

Harvard. Economics Transcript for Edward Hastings Chamberlin, 1922-1927

In the previous post we have the academic backstory found in Edward Hastings Chamberlin’s application to the economics graduate program at Harvard. This post provides the academic record of Chamberlin while a graduate student at Harvard. He entered Harvard with an M.A. degree in economics from the University of Michigan which probably is sufficient explanation for his seemingly light graduate coursework at Harvard.

Edward Hastings Chamberlin’s papers can be consulted at Duke University’s David M. Rubenstein Rare Book & Manuscript Library’s Economists’ Papers Archive. It is interesting to note that he seems to have audited Allyn Young’s Ec 15 course (which does not appear on his graduate transcript) since notes to that course are included in Chamberlin’s papers.

___________________________

Ph.D. in Economics Awarded 1927

Edward Hastings Chamberlin, S.B. (State Univ. of Iowa) 1920, A.M. (Univ. of Michigan) 1922, A.M. (Harvard Univ.) 1924.
Subject, Economics. Special Field, Economic Theory. Thesis, “The Theory of Monopolistic Competition.”
Instructor in Economics and Tutor in the Division of History, Government, and Economics, Harvard University.

Source: Harvard University. Report of the President of Harvard College, 1926-1927, p. 102.

___________________________

THE GRADUATE SCHOOL OF ARTS AND SCIENCES
Record of Edward Hastings Chamberlin

Years: 1922-23, 1923-24, 1924-25, 1925-26, 1926-27

[Previous] Degrees received. Where? When?

S.B. State Univ. of Iowa 1920
A.M. Univ. of Michigan 1922

First Registration: 25 Sept. 1922

1922-23

Grades
First Year Course

Half-Course

Economics 11

A

Economics 41

A-

Division: Economics
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degree attained at close of year:

 

1923-24

Grades
Second Year Course

Half-Course

Economics 14

inc./exc.

Economics 23

exc.

Government 6

exc.

Marketing Problems

85%

Passed General Exam. in Economics,
22 May 1924

Division:
Scholarship, Fellowship: Henry Lee Mem’l Fellow
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degree attained at close of year: A.M.

 

1924-25

Grades
Third Year Course

Half-Course

Economics 20 (A.A.Y.)

Division:
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship:
Instructorship: in Economics
Proctorship:
Degree attained at close of year:

 

1925-26

Grades
Fourth Year Course

Half-Course

Economics 20 (A.A.Y.)

A

Division:
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship:
Instructorship: in Economics.

Tutor in the Div. of History, Government, and Economics

Proctorship:
Degree attained at close of year:

 

1926-27

Grades
Fifth Year Course

Half-Course

Economics 20 (A.A.Y.)

A

Division:
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship: $1500
Instructorship: in Economics.

Tutor in the Div. of History, Government, and Economics $1200.

Proctorship:
Degree attained at close of year: Ph.D.

Source: Harvard University Archives. Graduate School of Arts and Sciences. Record Cards of Students, 1895-1930, Burtt—Cook. Record Card of Edward Hastings Chamberlin.

___________________________

Course Names and Instructors

Pro-tip for linking course numbers to course names and instructors.

Harvard University, Faculty of Arts and Sciences. Course of instruction. 1879-2009.

1922-23

Economics 11. Economic Theory. Professor Frank W. Taussig

Economics 41. Statistical Theory and Analysis. Professors Allyn Abbott Young and Edmund Ezra Day

1923-24

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

Economics 23. Modern Economic History since 1750. Assistant Professor Abbott Payson Usher

Government 6. History of Political Theory. Professor Charles Howard McIlwain.

Marketing Problems. [First Year, First Half course at the Graduate School of Business Administration]

1924-27.

Economic Research. Graduate students pursuing research may register in the following course, which has the same status as any of the other graduate courses in Economics. Such research will be under the direction of members of the Department, and may lie within any of the fields recognized as appropriate for candidates for the degree of Doctor of Philosophy.

Economics 20. Professors Taussig, Carver, Ripley, Gay, Bullock, Young, and Persons. Members of the Faculty of the Graduate School of Business Administration will also guide research lying within their respective fields

___________________________

Image Source: Faculty picture of Edward H. Chamberlin from the Harvard Class Album, 1932.

Categories
Exam Questions Harvard

Harvard. Final Examinations in Economics courses, 1892-1893

The economic historian William J. Ashley joined the Harvard economics department in 1892-93, joining Professors Charles F. Dunbar and Frank W. Taussig and the instructors Edward Cummings and William M. Cole. This post gives us a complete set of semester examinations for all the economics courses offered at Harvard and, as extra bonus, exams for the Social Ethics course taught in the philosophy department by Francis G. Peabody.

_________________________

1892-93.
PHILOSOPHY 5. ETHICS OF THE SOCIAL QUESTIONS.

Enrollment

[Philosophy] 5. Professor F. G. PEABODY. — The Ethics of the Social Questions. — The questions of Charity, Divorce, the Indians, Temperance, and the various phases of the Labor Question, as problems of practical Ethics. — Lectures, essays, and practical observations. 2 hours.

Total 131: 5 Graduates, 60 Seniors, 25 Juniors, 6 Sophomores, 24 Divinity, 11 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

1892-93.
PHILOSOPHY 5.
[Mid-Year Examination]

  1. Explain and illustrate the “correlation” of the Social Questions and the doctrine of Social Energy.
  2. How does the history of ethical theory illustrate the philosophy of the Social Questions?
  3. Compare the principles of the English Poor-Law with the principles of the Elberfeld System.
  4. The plan, scope, and results of Mr. Charles Booth’s Study of East London.
  5. The character of the migration to London and its effect on
    1. social conditions in London (Charles Booth, I. 501, II. 444);
    2. the problem of municipal charity.
  6. How do the Germans deal with the problem of unemployed tramps?
  7. One year of General Booth’s Social Scheme, — its achievements and its possible limitations.
  8. Define the modern Labor Question and note its special characteristics.
  9. What does Carlyle mean by:
    Gospel of Mammonism? (Bk. III. ch. 2.)
    Gospel of Dilettantism? (Bk. III. ch. 3.)
    Captains of industry? (Bk. IV. ch. 4.)
    Plugson of Undershot? (Bk. III. ch. 10.)

What is his lesson drawn from:
Gurth, the thrall of Cedric? (Bk. III. ch. 13; Bk. IV. ch. 5.)

  1. Ruskin’s doctrine of wealth, of wages, and of exchange. How far, in your opinion, is Ruskin’s view of Political Economy justifiable?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

 

1892-1893
PHILOSOPHY 5.
[Year-End Final Examination]

  1. State the Labor Question in terms of Ethics, arranging the various industrial propositions of the day in the order of their ethical sufficiency. Explain your arrangement.
  2. Why does the Anarchist find encouragement in the philosophy of Herbert Spencer?
  3. What is the philosophy of history which encourages the Socialist?
  4. The practical advantages which the Socialist anticipates under his programme, his reasons therefor, and your own judgment of their probability.
  5. The substitute for money proposed by Marx; with Schäffle’s criticism of the proposal. (Schäffle, pp. 77-90).
  6. The German system of insurance against old age and invalidism, — its plan, scope and difficulties.
  7. The Familistère at Guise and its lessons for socialism.
  8. Why has Coöperation gained so large a place in English industry and had such meagre success in the United States?
  9. The method of Profit-Sharing adopted in the Maison Leclaire, the secret of its success and the limits of its application in other cases. (Sedley Taylor, pp. 13-20).
  10. The special characteristics of the latest liquor Legislation proposed in Germany, in England and in the United States.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 1. PRINCIPLES OF ECONOMICS

Enrollment

[Economics] 1. Professors [Frank W.] TAUSSIG and [William J.] ASHLEY, and Messrs. [Edward] CUMMINGS and [William M.] COLE. —

First half-year:

Mill’s Principles of Political Economy. 3 hours.

Second half-year:

Division A (Theoretical): Mill’s Principles of Political Economy. — Cairnes’s Leading Principles of Political Economy. 3 hours.

Division B (Descriptive): Labor and Capital, Coöperation. — Hadley’s Railroad Transportation. — Dunbar’s Chapters on Banking. — Financial Legislation. 3 hours.

Total 322: 1 Graduate, 50 Seniors, 114 Juniors, 116 Sophomores, 3 Freshmen, 38 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

 

1892-93.
ECONOMICS 1.
[Mid-Year Examination]

[Arrange your answers strictly in the order of the questions.]

  1. “Production, and productive, are of course elliptical expressions, involving the idea of something produced; but this something, in common apprehension, I conceive to be, not utility, but wealth.” Why should not all labor which produces utility, be accounted productive?
  2. “The distinction, then, between Capital and Non-Capital, does not lie in the kind of commodities, but in the mind of the capitalist.” Does pig-iron cease to be capital when the owner sells it and buys a country-house?
  3. What is meant when it is said that rent is no burden on the consumer?
  4. Why are the earnings of the professional classes higher than the wages of mechanics? Why are the wages of mechanics higher than those of day-laborers?
  5. Explain the connection between:

The tendency of profits to a minimum.
The law of diminishing returns.
The effective desire of accumulation.

  1. Is a general rise in prices advantageous to the community as a whole? to any part of it?
  2. Specie, bank-notes, inconvertible paper, checks, —are they or are they not “money”?
  3. “It is when the metals are completely superseded and driven from circulation that the difference between convertible and inconvertible paper begins to be operative.” Explain.
  4. Does foreign trade tend to bring about the same level of (1) money wages, (2) prices, in the trading countries?
  5. In what manner does a country gain when its exports increase?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

1892-1893
ECONOMICS 1.
[Year-End Final Examination]

Division A.
[Arrange your answers strictly in the order of the questions.]

  1. What is meant when it is said that the rent paid for the use of a factory building enters into cost of production, while that paid for the use of the site does not?
  2. What determines the limits within which the foreign exchanges may fluctuate?
  3. According to Mill, “The universal elements of cost of production are the wages of labor and the profits of the capital.” Cairnes on the contrary says, “I repeat, therefore, that not only do wages not constitute the laborer’s share in the cost of production, but these can not be taken in any sense to represent that cost.”
    Why not?
  4. “It appears, therefore, that the fund available for those who live by labor tends, in the progress of society, while growing actually larger, to become a constantly smaller fraction of the entire national wealth.”
    Why?
  5. “The illusion which I am combatting, that Demand and Supply are independent economic forces, sometimes assumes another form in the notion that producers and consumers are distinct classes, and that production and consumption are acts which may go on irrespective of each other.”
    Explain the illusion.
  6. How is the price of wool in Australia likely to be affected by the shipment of frozen mutton to England?
  7. “In the language of Mr. Mill, ‘the produce of a country exchanges for the produce of other countries at such values as are required in order that the whole of her exports may exactly pay for the whole of her imports.’ Now, as a matter of fact, it very rarely happens that the whole exports of a country, even if we take an average of many years, exactly pay for the whole of its imports; nor can it be truly said that there is any tendency in the dealings of nations toward this result.” Why not?
  8. At what rate of interest did the United States borrow, when it exchanged 5-20 bonds for legal tender notes at par, in 1862-63?
  9. What do you infer from the success of distributive coöperation in Great Britain, as to the future development of coöperation in general?
  10. What are the grounds for saying that the general fall in prices in the United States in the period immediately after the civil war, had an effect on debtors different from that of the fall in prices since 1879?

 

Division B.
[Arrange your answers strictly in the order of the questions.]

  1. Does the benefit of international trade lie in the exports? in the imports?
    Why?
  2. Is a general fall in prices harmful to debtors? to creditors?
  3. Will an increase in the quantity of money in the community affect the rate of interest?
  4. How would you estimate the minimum reserve required by law to be anywhere held for deposits in country national banks of the United States?
  5. How would you explain the close correspondence in the banks of the United States between the amount of loans and the amount of deposits?
  6. Explain the decline in the volume of national bank notes in recent years.
  7. Explain why the original limit of uncovered issue for the Bank of England was put at £14,000,000.
  8. How would an act for the free coinage of silver in the United States at the present mint ratio, affect the price of silver bullion?
  9. Compare the attitude of the Latin Union toward the use of both metals in 1866 with its attitude in 1878.
  10. Compare carefully, as to the character and quantity of the issues of money provided for, the legislation of the United States in 1878 with that of 1890.
  11. Point out wherein profit-sharing is similar to coöperative production, wherein different.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

 

_________________________

1892-93.
ECONOMICS 2. ECONOMIC THEORY
 

Enrollment

[Economics] 2. Professor TAUSSIG. — Economic Theory. — Examination of selections from leading writers. 3 hours.

Total 38: 11 Graduates, 10 Seniors, 11 Juniors, 6 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

1892-93.
ECONOMICS 2.
[Mid-Year Examination]

  1. State George’s doctrine as to the cause of interest, and give an opinion of its soundness.
  2. “It may be said, we grant that wages are really paid out of the product of current industry, and that capital only affects wages as it first affects production, so that wages stand related to product in the first degree, and to capital in the second degree only; still, does not production bear a certain and necessary ratio to capital? and hence may not the measure of wages be derived from capital virtually, — though not, it is true, directly, — through its determination of product?” Consider whether so much would be granted by one holding to the wages-fund doctrine; and answer the questions.
  3. “The employer [in the West and South] advances to the laborer such provisions and cash as are absolutely required from time to time: but the ‘settlement’ does not take place until the close of the season or the year, and the final payment is often deferred until the crop is not only harvested but sold.” Under such conditions is it true that wages are paid out of capital, or limited in amount by the quantity of previously accumulated capital?
  4. What do you conceive President Walker’s opinion to be as to the effect on business profits of the possession of large means by the business man at the outset of his career?
  5. Are there grounds for saying that in a socialist community the conception of capital would be different from that in communities as now organized?
  6. Compare Adam Smith’s doctrine as to the relation of capital and wages with Ricardo’s.
  7. Compare Adam Smith’s conclusions with Ricardo’s as to the propriety of import duties levied to countervail internal taxes on necessaries consumed by laborers.
  8. “No extension of foreign trade will immediately increase the amount of value in a country, though it will very powerfully contribute to increase the mass of commodities, and therefore the sum of enjoyments.” What does Ricardo mean?
  9. “There is only one case, and that will be temporary, in which the accumulation of capital with a low price of food may be attended with a fall in profits.” What is the case, and why did Ricardo think it would be temporary?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

1892-1893
ECONOMICS 2.
[Year-End Final Examination]

[One question in each of the three groups may be omitted.]

I.

  1. What is the meaning and importance of the proposition that demand for commodities is not demand for labor?
  2. How far is Ricardo’s doctrine as to the connection between labor and value similar to Marx’s doctrine that value consists of the labor incorporated in commodities?
  3. What is meant when it is said that the connection between value and expenses of production depends on the mobility of capital, while the connection between value and cost of production depends on the mobility of labor and capital?
  4. “The ideal of justice in distribution, applicable both to individual producers and to the different factors in production (land, labor, capital), may be stated thus: each should have a share in net income proportionate to the contribution which, by labor or by the use of material means of production, he has made to the product.”
    What should you say as to the feasibility of carrying out such a principle?

II.

  1. Explain briefly what is meant by total utility, marginal utility, and consumer’s rent.
    “Subject to these corrections, then, we may regard the aggregate of the money measures of the total utility of wealth as a fair measure of that part of the happiness which is dependent on wealth.” Mention one or two corrections.
  2. Give your opinion on the objection raised by Carey to the theory of rent, that the total rent paid for the use of land does not exceed interest at current rates on the total capital sunk in land.
  3. How far is it an answer to the proposition that rent and business profits are analogous, when it is said that the losses of some business managers must be set off against the larger gains of others?
  4. Explain Professor Marshall’s opinion as to the bearing on the relative wages of different laborers of
    1. The “rent” of labor;
    2. the standard of living among laborers;
    3. the expenses of production of labor;

and point out the connection between his views on these subjects.

III.

  1. Explain the distinctions (1) between private capital and social capital, (2) between historico-legal capital and national capital; and point out how far the two distinctions run on the same lines.
  2. “In the present condition of industry, most sales are made by men who are producers and merchants by profession. . . . For them, the subjective use-values of their own wares is, for the most part, very nearly nil. . . . In sales by them, the limiting effect which, according to our theoretical formula, would be exerted by the valuation of the last seller, practically does not come into play.”
    Explain what is meant, and consider the consequences as to the importance of the law that price is determined by the valuations of the marginal pairs.
  3. “Our whole interest is centred in the question as to the position which the law (of cost of production), so well accredited by experience, takes in the systematic theory of price. Does it run counter to our law of marginal pairs or not? Our answer is that it does not. It is as little of a contradiction as we before found to exist between the proposition that the marginal utility determines the height of subjective value, and the other proposition that the costs determine it.”
    In what way is the apparent contradiction removed in the two cases referred to by Böhm-Bawerk?
  4. Explain the three grounds on which Böhm-Bawerk bases the superiority of present over future goods, and give your opinion as to their relative importance and significance.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 3. PRINCIPLES OF SOCIOLOGY

Enrollment

[Economics] 3. Mr. CUMMINGS. — The Principles of Sociology. — Development of the Modern State, and of its Social Functions. 3 hours.

Total 22: 5 Graduates, 9 Seniors, 4 Juniors, 1 Sophomore, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

 

1892-1893
ECONOMICS 3.
[Mid-Year Examination]

Answer the questions in the order in which they stand. Omit two.

  1. “We have just seen that a one-sided application of the conception that society is of organic growth leads to difficulties, as well as the conception of artificial making. These we can only escape by recognizing a truth which includes them both.”
    What are these difficulties, and what is this truth?
  2. “If societies have evolved, and if that mutual dependence of parts which coöperation implies, has been gradually reached, then the implication is that however unlike their developed structures may become, there is a rudimentary structure with which they all set out.”
    What evidence do you find of such a structure?
  3. According to Aristotle, “Man is by nature a political” According to Thomas Aquinas, “homo est animal sociale et politicum.” How far is this insertion of “sociale” alongside of “politicum” significant of the different way in which the State presented itself to the mind of the Greek and to the mind of the medieval philosopher?
  4. “The theory of the social contract belongs in an especial manner to the political philosophers of the seventeenth and eighteenth centuries. But it did not originate with them. It had its roots in the popular consciousness of medieval society. As a philosophical theory, it had already been anticipated by the Greek Sophists.”
    Indicate briefly some of the important changes which the doctrine underwent.
  5. “In primitive societies the person does not exist, or exists only potentially, or, as we might say, in spe. The person is the product of the State.” Explain. What is the theoretical and historical justification of this doctrine, as against the contention that the individual loses what the State gains?
  6. Discuss the relative preponderance of free and of un-free elements at different stages of social development.
  7. It has been remarked by Spencer that those domestic relations which are ethically the highest, are also biologically and sociologically the highest. Discuss the historical evidence on this point. What is the test of this ethical superiority?
  8. To what extent is there ground for saying that the influence of militant and of industrial organization is traceable in the status of women and the duration of marriage in the United States and in other countries?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

1892-1893
ECONOMICS 3.
[Year-End Final Examination]

[Answer the questions in the order in which they stand. Omit one.]

  1. “The different forms of the State are specifically divided, as Aristotle recognized, by the different conceptions of the distinction between government and subjects, especially by the quality (not the quantity) of the ruler.” Explain. Indicate briefly the relation of the different forms of the State to one another.
  2. “If there is any one principle which is clearly grasped in the present day, it is that political power is a public duty as well as a public right, that it belongs to the political existence and life of the whole nation, and that it can never be regarded as the property or personal right of an individual.” How far did this principle secure recognition in Greek, in Roman, and in medieval times?
  3. “The past seems to prove that kings and aristocracies make States, and that left to themselves, the people unmake them.” State carefully your reasons for agreeing or disagreeing with the political philosophy here involved.
  4. “This is one of curious phases of the railway problem in Europe, which has a tendency to show how multiform and various are the influences at work to modify and change the conditions of the railway problem, and how little can be gathered from mere government documents and laws to shed light upon this most interesting and intricate of all modern industrial questions.” What light does Italian, French and Austrian experience with railroads throw on the general question of State control?
  5. “Expediency and the results of experience must determine how far to go. They seem to justify public ownership of gas works, water works and electric lights. The same would doubtless be true of the telegraph and telephone.” Discuss the evidence.
  6. “We will first concentrate our attention on the economic kernel of socialism, setting aside for the moment the transitory aspect it bears in the hands of agitators, its provisional passwords, and the phenomena and tendencies in religion by which it is accompanied.” State and criticise this “economic kernel.”
  7. “The philanthropic and experimental forms of socialism, which played a conspicuous role before 1848, perished them[sic, “then”?] in the wreck of the Revolution, and have never risen to life again.” What were the characteristics of these earlier forms; and what was their relation to the movements which preceded them and followed them?
  8. How are the socialistic teachings of Lasalle and Marx related to the economic doctrines of Smith and Ricardo?
  9. What ground do you find for or against the contention that “socialism is the economic complement of democracy”?
  10. “Not only material security, but the perfection of human and social life is what we aim at in that organized co-öperation of many men’s lives and works which is called the State. . . . But where does protection leave off and interference begin?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 4. ECONOMIC HISTORY OF EUROPE AND AMERICA

Enrollment

[Economics] 4. Mr. COLE. — Economic History of Europe and America since the Seven Years’ War. — Lectures and written work. 3 hours.

Total 116: 41 Seniors, 59 Juniors, 45 Sophomores, 3 Freshmen, 18 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

 

1892-93. ECONOMICS 4.
[Mid-Year Examination]

I.
[Take all.]

  1. State at least three parallels in the lives of Watt and George Stevenson.
  2. From an economic point of view, and assuming that a revolution must have come sooner or later, was the occurrence of the disturbances in France between 1785 and 1815 opportune or inopportune for France?
  3. Was there any necessary connection between the economic and the military reforms of Prussia between 1807 and 1812? If so, what?
  4. Why was the United States helped more than any other country by the introduction of steam navigation?

II.
[Omit one.]

  1. What was the origin and what were the main provisions of the English Corn Law of 1815?
  2. What were the main provisions of the French railway law of 1842?
  3. What were the main features of Gallatin’s plan for internal improvements in 1807?
  4. What was the social status at the beginning of this century of poor immigrants into America?
  5. What was the cause of the suspension of specie payments by the Bank of England in 1797?
  6. What was the effect of the Continental wars of 1793-1815 upon the English laborers? How was it manifested?
  7. What was the influence on French manufactures of Napoleon’s rise to power? Cite examples.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

 

1892-93.
ECONOMICS 4.
[Year-End Final Examination]

[Arrange your answers strictly in the order of the questions.]

  1. What sort of wealth did France actually sacrifice in paying the German indemnity? What was the process?
  2. Explain the influence of the Civil War upon our tariff legislation.
  3. Explain whether or not England can obtain cheap coal from abroad after her own supplies become scarce.
  4. What motives had Congress for granting lands to Western railroads, — other than the Union Pacific? What was the system of grants adopted?
  5. It has been said that after 1850 England could not well maintain duties upon any class of imports, and hence free trade was inevitable. What do you think of the statement?
  6. Was the Zollverein an experiment in free trade or in protection? Why do you think as you do?
  7. How did the extraordinary demand for gold between 1871 and 1873 affect the rate of bank discount? How do you explain the effect?
  8. Show at least three important benefits arising from improved means of transportation.
  9. Explain carefully, but concisely, why the southern soils of the United States were rapidly exhausted before the war. Could resort have been made successfully to rotation of crops, to more careful cultivation, to the use of better tools?
  10. Using only the materials which have been furnished by Economics IV, show what in your opinion, after careful thought, England would have gained or lost up to the present time if the American colonies had not won their independence.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 5. RAILWAY TRANSPORTATION

Enrollment

[Economics] 5. Professor TAUSSIG. — Railway Transportation. — Lectures and written work. 3 hours. 1st half-year.

Total 26: 7 Graduates, 12 Seniors, 5 Juniors, 1 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

 

1892-93.
ECONOMICS 5.
[Mid-Year Final Examination]

[Arrange your answers strictly in the order of the questions].

  1. “A more powerful force than the authority of the courts was working against the Granger system of regulation. The laws of trade could not be violated with impunity. The effects were most sharply felt in Wisconsin. . . . In the second year of its operation [that of the law reducing rates], no Wisconsin road paid a dividend; only four paid interest on their bonds. Railroad construction came to a standstill. . . . Foreign capital refused to invest in Wisconsin; the development of the State was sharply checked; the very men who most favored the law found themselves heavy losers. . . . The very men who passed the law in 1874 hurriedly repealed it after two years trial.” State the essential features of the legislation here alluded to, and give an opinion as to this explanation of its effects.
  2. “The principle of tolls [rates based on cost of service] keeps rates up. If it is strictly applied, it makes it necessary that each item of business should pay its share of the fixed charges.” Why? or why not?
  3. What is meant when it is said that railway rates are governed by value of service?
  4. Compare :
    1. The natural system of rates.
    2. The German reform tariff.
    3. The maximum rates of the Granger legislatures.
  5. Is it true that the prohibition of pooling in the Interstate Commerce Act increases the severity of the long and short haul clause?
  6. What were the causes of the depression of 1888-90?
  7. Should you say that the approaching maturity of the Government debt gives a favorable opportunity for an experiment in public management, by the assumption of federal ownership of the Pacific roads?
  8. Give an opinion on two among the suggestions made by Mr. Clark as to future legislation on railways by the states.
  9. Sketch the history of railway policy in Italy.
  10. What have been the financial results of public railway management in Prussia?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

_________________________

1892-93.
ECONOMICS 6. HISTORY OF U.S. TARIFF LEGISLATION

Enrollment

[Economics] 6. Professor TAUSSIG. — History of Tariff Legislation in the United States. 3 hours. 2d half-year.

Total 50: 7 Graduates, 19 Seniors, 17 Juniors, 3 Sophomores, 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

1892-1893
ECONOMICS 6.
[Year-End Final Examination]

[Answer all the questions, however briefly.]

  1. Sketch the industrial history of the country, and its bearing on tariff legislation, from 1816 to 1824.
  2. How far do protective duties account for the growth of the cotton manufacture from 1830 to 1840? Of the iron manufacture from 1840 to 1850? Of the silk manufacture from 1860 to 1880?
  3. What do you believe the state of public opinion to have been on tariff legislation in 1800? In 1824? In 1850?
  4. State the important provisions of the tariff act of 1857.
  5. Are there grounds for saying that the duty on pig iron since 1870 has proved a successful application of protection to young industries? State carefully what you think the test of success in such a case.
  6. What can be said for, what against, the change in the duties on sugar made in 1890?
  7. Compare the general character of the tariff act of 1883 with that of the act of 1890.
  8. Assume that, on the imposition of a duty on tin-plates, domestic production should so develop that tin-plates were made with less labor in the United States than in foreign countries. What would happen if thereafter the duty were removed?
  9. Explain what is the object, what the effect of minimum duties; and give two instances of their application, one before 1860, the other after.
  10. Explain briefly in what manner the connection between the tariff and wages was discussed by Webster in 1824, by Clay in 1824, and by Walker in 1845.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 71. THEORY AND METHODS OF TAXATION

Enrollment

[Economics] 71. Professor DUNBAR. — The Theory and Methods of Taxation, with special references to local taxation in the United States. 3 hours. 1st half-year.

Total 21: 7 Graduates, 9 Seniors, 2 Juniors, 1 Sophomore, 2 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

 

1892-93.
ECONOMICS 7[1].
[Mid-Year Final Examination]

[Let your answers stand in the order of the questions.]

  1. What is Mr. Bastable’s theory (pp. 339-342) as to the incidence of a tax on a commodity, and what are the conditions on which he finds that any shifting of the tax will depend? How far does his doctrine in this particular differ from that of Ricardo?
  2. Discuss the following extract from Leroy-Beaulieu (Science des Finances, II. 303):—
    So the land tax, unless it is extraordinarily high or very badly assessed, has no influence on the price of agricultural products: it merely diminishes what in scientific language is called the rent of land, — that is the net income of the landowner after deducting the expenses of cultivation and the profits of the farmer. This proposition is generally true in all countries where the land is completely occupied: it does not apply, on the contrary, to new countries where a large part of the soil is not yet under cultivation, like the United States or Australia. In these countries the land tax acts as an increase of the general cost of working new lands, and consequently retards their reduction to cultivation.
  3. In answer to the demand for taxes resting exclusively or chiefly on land and its great unearned increment of value, it is sometimes urged that gains are often offset by losses, and that individuals can hardly be called on to give up their surplus gains unless they are guaranteed against possible loss. How much weight is to be attached to this answer?
  4. Discuss Bastable’s remark that,—
    It may be urged that progressive taxation is not in fact likely to weaken the disposition to save. It will only affect those who possess a good deal already, and such persons save as much from habit as from conscious motive. There is, too, the further fact that the heavier taxation on the rich will leave the poor a larger disposable sum, part of which they may save, and to that extent increase the store of wealth.
  5. What do you say to the proposition maintained by Mill (Book V., ch. ii. §4) and discussed by Bastable (p. 297), that the part of income which is saved should be exempt from taxation?
  6. W. is credited with having laid down two propositions: First, that “any income tax which permits of any exemption whatever is a graduated income tax”; and, secondly, that “a graduated income tax to the extent of its discrimination is an act of confiscation.”
  7. State the general plan on which the French Contribution des Patentes is levied, and then discuss the following:—
    1. Bastable says (p. 411):—
      The Patente is very far from being a proportional tax on industrial gains. It rather resembles a charge on certain necessaries of the business, such as buildings, labor, or motive power.
    2. Leroy-Beaulieu (Science des Finances, I. p. 396) says:—
      The manufacturer being taxed by the general tax on rents [personelle-mobilière] there is evident injustice in loading him with an additional tax on his habitation.
    3. And in general he says (ibid., p. 380):—
      In countries like France where incomes in general are not subject to any special direct tax, it is indisputable that a tax on the profit of manufacturers, of merchants, and of the liberal professions, has no reason for existence and can only be explained by the brutal law of fiscal necessity.
  8. Describe the changes which the Prussian income tax has gone through and the distinctive characteristics of the law of 1891.
  9. Describe the plan on which the English “death duties” are now arranged.
  10. What are the methods used in different countries for the taxation of tobacco, and how far does each appear applicable in the United States?
  11. Which of the following taxes are best fitted for national use and which for local, and why?

Excise;
Income;
Real Estate;
Stamps on deeds, commercial paper and legal instruments;
Successions.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

_________________________

1892-93.
ECONOMICS 72. FINANCIAL ADMINISTRATION AND PUBLIC DEBTS

Enrollment

[Economics] 72. Professor DUNBAR. — Financial Administration and Public Debts. 3 hours. 2d half-year.

Total 23: 10 Graduates, 8 Seniors, 3 Juniors, 1 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

1892-1893
ECONOMICS 7[2].
[Year-End Final Examination]

[Give one half of your time to a careful treatment of the questions under A.]

A.

  1. Discuss the conditions necessary for maintaining a thoroughgoing budget system, and show what changes (if any) of constitution, law, or political practice would be required, in order to set such a system in operation in the United States.
  2. When the United States issued the 5-20 bonds (principal and interest payable in gold), they had the choice between three courses, viz:
    1. To sell the bonds for par in gold and make the rate of interest high enough to attract buyers;
    2. to sell the bonds for gold at such discount as might be necessary, their interest being fixed at six per cent;
    3. to sell the bonds for their nominal par in depreciated paper.
      Which of these courses now seems to you the best, and why?
  3. Discuss the following:
    “Viewed as a purely financial question, it is no occasion for congratulation that a debt is widely diffused. Not only is its management necessarily more expensive, but the facility offered to politicians to use the debt for party and personal ends often defeats the best purposes of the financier. . . .France, for example, continued to pay for a number of years a higher rate of interest than was necessary, because the government feared the voting power of the holders of rentes. Nor do industrial considerations necessarily lead to the approval of widely-diffused debt. The unfailing indication of healthy state of industries is found in the personal attention of all members of society to business affairs. and this can only come with personal interest in some particular form of product. In so far as the private income of individuals arises from payments of interest by the state, the public is deprived of the beneficial workings of that solicitous care which insures success in industrial ventures. —Adams, Public Debts, p. 43.

B.

  1. State the manner in which the selling value of bonds is influenced, by, —
    1. annual drawings by lot for payment;
    2. reserved right to pay at pleasure;
    3. agreement to pay at or after some distant date;
    4. arrangement like that of the “Five-twenties.”
  2. The distinction between a bond reimbursable from the date of issue and one which is secured against redemption for ten or twenty years, is said to be “one of the most fundamental that presents itself in the entire course of credit operations,” because,—
    “A bond reimbursable from the date of its issue shows great carelessness on the part of the administration as to ultimate payment; on the other hand, a bond guaranteed against immediate payment is evidence of an intention to escape the evils of perpetual indebtedness.” — Adams, Public Debts, p. 161.
    Give your reasons for agreeing or for disagreeing with this statement.
  3. Under what conditions is the use of terminable annuities as a species of sinking fund advisable, and on what principle should the extent to which their use is carried be limited, if at all?
  4. What do you say to the following dictum as to buying public debt:
    “Payment by purchase (of bonds) upon the market at market prices is defensible when bonds are below par, but not when above par and so conditioned as to be payable, within a reasonable time, at their nominal value.”
  5. Describe the operation by which the French government converted the Morgan Loan in 1875 and state any criticism to be made upon this conversion.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 8. HISTORY OF U.S. FINANCIAL LEGISLATION

Enrollment

[Economics] 8. Professor DUNBAR. — History of Financial Legislation in the United States. 2 hours. 1st half-year.

Total 34: 3 Graduates, 19 Seniors, 11 Juniors, 1 Sophomore.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

1892-93.
ECONOMICS 8.
[Mid-Year Final Examination]

[Let your answers stand in numerical order.]

  1. Hamilton has sometimes been charged with favoring the policy of a perpetual public debt. Discuss the grounds for this charge.
  2. The act of 1790 for assuming the debts of the States did not wait for the settlement of accounts between the States and the Union. Did this failure to wait necessarily affect the result?
  3. What is a “direct tax” of the United States and on whom and how is it laid? Give instances.
  4. What were the provisions of law or the practices in use, regulating the kinds of currency received and paid by the Treasury, between 1789 and 1846?
  5. What was the Specie Circular, and what were its effects?
  6. What is Mr. Gallatin’s view of the part played by the United States Bank and of its influence, in the disastrous period 1837-1841?
  7. Describe the Independent Treasury Act of 1846, and state any modifications that the system has undergone.
  8. Give some account of the treasury notes issued 1837-46, and show how they resembled or differed from notes now issued by the United States.
  9. What considerations are there which tend to create doubt as to the necessity of the first Legal Tender Act?
  10. State the decisions of the Supreme Court of the United States on the constitutionality of the Legal Tender Acts.
  11. Sketch the legislation which has established the national banking system.
  12. Describe the change which has taken place in the meaning attached to the word “resumption,” and the circumstances which have given us a legal tender currency of fixed amount.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

_________________________

1892-93.
ECONOMICS 9. SOCIAL AND ECONOMIC CONDITION OF WORKINGMEN

An earlier post to this course with valuable links to the works quoted in the exams.

Enrollment

[Economics] 9. Mr. CUMMINGS. — The Social and Economic Condition of Workingmen in the United States and in other countries. 3 hours.

Total 24: 3 Graduates, 10 Seniors, 7 Juniors, 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 68.

 

1892-93.
ECONOMICS 9.
[Mid-Year Examination]

[Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience of different countries. Omit two questions.]

  1. “In a society adjusted to manual labor, it is absolutely impossible that a labor problem, as a class problem, should take its origin; but in a society adjusted to machinery, provided the English law of property be maintained, the development of class lines will surely make its appearance in industries.”
    State fully your reasons for agreeing or disagreeing with these assertions.
  2. “First, government must regulate the plane of competition, for without legal regulation the struggle between men for commercial supremacy will surely force society to the level of the most immoral man who can maintain himself.”
    What evidence does the history of factory legislation furnish upon these points?
  3. Comment upon the following passage: “The object held in view by workmen, when they organized themselves into unions, was to gain again that control over the conditions of labor which they lost when machinery took the place of tools.”
  4. “The English public has had the courage and strength to leave workingmen’s associations full freedom of movement, at the risk even of temporary excesses and acts of violence, such as at one time stained the annals of trades-unions.” Explain.
    How far is this true of France? Of the United States?
  5. Describe briefly the origin, growth, and present tendencies of the English Friendly Society movement.
  6. To what extent do trade organizations and friendly societies constitute an aristocracy of labor?
  7. To what forms of remuneration can the evils of “sweating” be traced?
  8. “The aim of Coöperation is at the same time the aim of Trade Unionism.” In what sense?
  9. Sketch briefly the course of factory legislation during the present century either in England or in the United States.
  10. Comment on the following passage: “The fact that the ignorant masses are enabled by the factory to engage in what it once took skilled labor to perform has given the widespread impression that factory labor has degraded the skilled, when in truth it has lifted the unskilled; and this is the inevitable result of the factory everywhere.”

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

1892-93.
ECONOMICS 9.
[Year-End Final Examination]

[Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience different countries. Omit two questions.]

  1. How is the burden of contribution distributed in each of the three departments of the German system of compulsory insurance? What theoretical or practical objections have you to the system?
  2. “In England especially the State is not in a position to compete effectively with energetic Insurance Companies or with the Friendly Societies, pulsating with the vigour of social life; and still less can it so compete when hampered by restrictions which handicap its powers.” Discuss the evidence on this point furnished by English experience with government workingmen’s insurance. Are there any indications that German ideas are gaining ground in England?
  3. “What, we will ask, is the relation of Profit-sharing to the ordinary wage system; and to what extent does Profit-sharing constitute an improvement upon the ordinary wage system?” Are there grounds for the assertion that Profit-sharing is “inferior in point of equity and expediency to the ordinary non-coöperative wage system“?
  4. “Besides the militant trade unionist workmen, that very shrewd class of workingmen, the coöperators, regard Profit-sharing with marked disapprobation; so much so that, although Profit-sharing forms an essential part of the professed principles of Industrial Coöperation, yet by far the greater part of Industrial Coöperation is carried on upon the system of altogether excluding the employees from participation in profits.” What are the facts referred to, and how do you account for them?
  5. “Here it is necessary to interpolate a protest against the assertion almost universally made by previous writers on this subject, that ‘Industrial Coöperation has succeeded in distribution, but has failed in production,’ — an assertion generally coupled with the explanation that ‘production’ is too difficult to be, as yet, undertaken by workingmen.” What are the facts?
  6. “But the enthusiastic Coöperator will ask: why not develop the voluntary system of democratic Coöperation until it embraces the whole field of industry?” What do you conceive to be the economic limits to such extension by consumers’ associations?
  7. “Having considered the social and economic position of workers in the coal, iron and steel industries in several countries, let us now by proper combination ascertain the average conditions prevailing in the two continents.” What are the probable conclusions to be drawn from these comparative statistics of family budgets in the United States and other countries?
  8. “The Hungarians, Italians, Bohemians and Poles, who throng our gates give most concern. . . . Up to the present time there seems no ground to fear that such new comers have wielded a depressing influence. There seems rather reason for congratulation in the fact that instead of their having lowered the American standard of living, the American standard of life has been raising them.” Discuss the evidence. What light do recent changes in the character and volume of migration from different countries throw on this problem?
  9. Indicate briefly the course of short-hour legislation in Massachusetts. How does it compare with the legislation in other states and other countries?
  10. Indicate carefully how far there has been any approximation to compulsory arbitration in Massachusetts; in New York; in other countries. What are the objections to compulsory arbitration?
  11. What do you conceive to be the significance of the Farmers’ Alliance and the Single Tax movements in the United States? And how are they related to each other?
  12. Precisely what evidence is there for and against the contention that the employment of “private armed forces” has been largely responsible for violence and bloodshed during strikes? Give concrete examples. 

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 10. U.S. AND EUROPEAN ECONOMIC HISTORY TO 1763

Enrollment

[Economics] 10. Professor ASHLEY. — The Economic History of Europe and America, to 1763. 3 hours.

Total 20: 6 Graduates, 7 Seniors, 4 Juniors, 3 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

 

1892-93.
ECONOMICS 10.
[Mid-Year Examination]

N.B. — Not more than seven questions must be attempted.

  1. Present the substance of recent suggestions as to the origin of the Celtic Sept, and compare them with earlier views.
  2. Describe the Roman villa system, and compare it with mediaeval manorial agriculture and with modern American farming.
  3. Discuss the value of the Domesday Survey for economic history.
  4. Explain the importance of “Commutation.”
  5. State and criticize Mr. Thorold Rogers’ view of the causes of the Peasant Revolt of 1381.
  6. Describe the character of internal trade in England in the twelfth and thirteenth centuries.
  7. To what extent was the mediaeval regulation of industry justified?
  8. Trace the history, and comment on the significance, of Journeymen’s Societies.
  9. “Capital is a historical category.” statement in the light of medieval history. Explain and criticize this statement in the light of mediaeval history.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3, Bound Volume: Examination Papers, Mid-Year 1892-93.

 

1892-93.
ECONOMICS 10.
[Year-End Final Examination]

[Candidates are requested to attempt only six questions, — of which six one at least must be chosen from the first set.]

  1. Compare the position of the Roman coloni with that of the peasants of the Middle Ages.
  2. “The reign of Edward I appears to mark the turning-point in the history of the craft-gilds.” Explain and criticize this.
  3. Estimate the importance of the work of M. Fustel de Coulanges in relation to Economic History.
    ________________________________
  4. How did the Reformation affect the English craft companies?
  5. Describe the “domestic system” of industry, and compare it with earlier and later systems.
  6. Narrate the later fortunes of the Hanseatic merchants in England.
  7. State and discuss the principles involved in the Poor Law of the sixteenth century.
  8. Give some account of the various discussions concerning economic policy occasioned by the East India Company.
  9. Compare a New England town with an English manor.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.

_________________________

1892-93.
ECONOMICS 11. HISTORY OF ECONOMIC THEORY BEFORE ADAM SMITH
 

Enrollment

[Economics] 11. Professor ASHLEY. — History of Economic Theory, down to Adam Smith. 2 hours. 2d half-year.

Total 8: 7 Graduates, 1 Senior.

Source: Harvard University. Report of the President of Harvard College, 1892-1893, p. 63.

1892-93.
ECONOMICS 11.
[Year-End Final Examination]

[Candidates are requested to attempt only six questions.]

  1. Explain Aristotle’s view of chrematistics.
  2. What has been the economic influence of the Roman law?
  3. Compare the fundamental ideas of the Canonists with those of the Socialists.
  4. Explain the Canonist doctrine of Partnership.
  5. What were the principles involved in the discussion concerning Montes Pietatis?
  6. Consider the influence of the Reformation on Economic opinion.
  7. Sketch briefly the various stages in the history of Mercantilism.
  8. Explain briefly the significance for the history of economic thought of either Bodin, or Sir Josiah Child.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4, Bound Volume: Examination Papers, 1893-95, “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College, June 1893”.