Categories
Exam Questions Harvard

Harvard. Exams for Principles of Accounting. W.M. Cole, 1905-06

The principles of accounting course taught by William Morse Cole in the department of economics at Harvard was expanded to two semesters in 1905-06. 

__________________________

Earlier accounting exams

About William Morse Cole
1901-02
1902-03
1903-04
1904-05

__________________________

Course Enrollment
1905-06

Economics 18. Mr. W. M. Cole. — Principles of Accounting.

Total 44: 6 Graduates, 23 Seniors, 7 Juniors, 3 Sophomores, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 73.

__________________________

ECONOMICS 18
Mid-year Examination, 1905-06

I
  1. What is the function of nominal accounts in double-entry book-keeping?
  2. The books which the following trial balance represents are correct and record only normal transactions. Is the trial balance satisfactory? If not, show how you would go to work to correct it.
Proprietor 45,000
Merchandise 17,200
Cash 9,000
Interest 500
Bills Payable 4,000
Real Estate 15,000
Bills Receivable 20,000
Accounts Receivable 14,000
Rentals 500
Expenses 8,200
______ ______
66,700 66,700
  1. If rent is earned on buildings owned, should the amount of rent be debited or credited? Is it objectionable to enter the amount to the Real Estate account? If so, why?
  2. Construct a special-column journal to do all the work of journal, sales book, purchase book, and special-columncash book, combined. Illustrate briefly how posting would be done from it.
  3. Name the four common groups of railroad operating-expense accounts and show the logic of the classification.
II

            Show the balance-sheet for a business which meets the following conditions: Capital stock, 200,000; cash on hand, 7,000; surplus, 50,000; manufactured goods on hand, 10,000; notes outstanding, 25,000; sums owed for raw material, 25,000; sums owed for wags, 3,000; raw material on hand, 6,000; undivided profits, 4,000; notes of customers on hand, 17,000; depreciation fund, in bonds, 8,000; sums due from customers, 15,000; real estate, 100,000; machinery, etc., 144,000.

            In the following year the business is as follows: Goods manufactured (on contract), 147,000 (contract price); goods delivered (on contract), 135,000; collected on goods, 129,000 in cash, 20,000 in notes; labor expense incurred and paid, 50,000; raw material bought, 75,000; raw material paid for, 90,000; raw material consumed, 70,000; new machinery bought and paid for, 20,000; interest paid, 1,000; interest accrued against the corporation, not yet due, 200; collected on notes, 28,000; general expenses paid, 9,000; borrowed on notes, 50,000; repairs of buildings paid from depreciation fund, 2,000; paid on notes, 20,000; losses from bad debts, 1,000; taxes, 1,000; dividends, 17,300.

            Show the income sheet for the year.

            Show the balance sheet for the new year.

            [It is probable that time will be saved and confusion will be avoided if a rough journal and a rough ledger are used for assistance in working out the above problem. Only results are required, however.]

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06.

__________________________

ECONOMICS 18
Year-end Examination, 1905-06

Follow the order of the paper, not only in arrangement but also in performance.

  1. What is a trial balance? How far is it useful?
  2. What is the relation between an income sheet and a balance sheet? Can an item appear upon both at the same time?
  3. What ought books to show with regard to discounts (on merchandise) for prompt payments?
  4. Arrange the following items of a railroad report in proper form, and fill in any important omissions by figures derived from the items given:—
[Figures represent millions of dollars]
Fixed charges 5.0 Accrued liabilities 3.0
Accounts payable 4.0 Claims audited 1.0
Bills receivable 0.5 Funded debt 85.0
Other income 4.0 Supplies 3.0
Investments 67.0 Accounts receivable 4.0
Accrued assets 1.5 Earnings from operation 17.7
Dividends 1.8 Cost of road 50.0
Cash 4.0 Net earnings 5.9
Capital stock 30.0 Miscellaneous assets 1.0
Betterments charged to income 1.0
  1. A partnership is organized on January 1. On July 1 a partner dies. How far is a correct trial balance taken on the latter day a satisfactory basis for a settlement of the dissolved partnership? Assuming the ordinary commercial accounts to be kept, how should you go to work to determine the share of each partner?
  2. Except for the items mentioned below, a corporation’s balance sheets for 1905 and 1906 show the same figures. How much do these items tell about the history of the corporation for the year 1905-1906?

 

1905
Surplus $70,000

1906

Depreciation Fund $20,000 Reserve Fund $60,000
Depreciation Fund $20,000
Surplus $10,000
  1. How should you determine on an interest date the value of ten-year bonds bought (at the time of issue) at a premium and now having five years more to run? [Do not figure, but describe have process.] Should the books show that value? If so, how and where? If a portion of the bonds is now sold at less than the value so determined, how should the sale show on the books?
  2. A factory is engaged in a dying industry. Five years is the estimated life of the machinery and of the good-will. The buildings are convertible to other uses. The corporation will be dissolved at the end of five years.
    Describe a brief administrative policy that you would recommend to close the business and end the corporation, and then describe the accounting processes to record the closing transactions and to leave no balances on the books.

Source: Harvard University Archives. Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), pp. 42-43.

Image SourceHarvard Alumni Bulletin, Vol. XIX, No. 16 (January 18, 1917), p. 308. Portrait of William Morse Cole colorized by Economics in the Rear-view Mirror.

Categories
Exam Questions Harvard Socialism

Harvard. Exam questions for Social Reform, Socialism, Communism. Carver, 1905-1906

Courses on utopias, schemes of social reform, shades of socialism and communism were offered by the Harvard economics department from its early years through the twentieth  century. Thomas Nixon Carver taught such a course for several decades as an exercise of know-thy-enemies. His autobiographical Recollections of an Unplanned Life (1949) makes it clear that there was not a collectivist bone in his body. 

__________________________

Previously posted

Pre-Carver:
Carver’s courses
Post-Carver:

__________________________

Methods of Social Reform,
Socialism, Communism…
Economics 14b
1905-06 

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

Course Enrollment
1905-06

Economics 14b 2hf. Professor Carver. — Methods of Social Reform. Socialism, Communism, the Single Tax, etc.

Total 29: 10 Graduates, 6 Seniors, 8 Juniors, 1 Sophomore, 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 73.

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

ECONOMICS 14b
Year-end Examination, 1905-06

  1. Describe one Eutopian scheme, covering the following points:
    (a) supposed location, (b) time, (c) form of government, (d) organization of industry, (e) system of exchange, (f) family life, (g) distribution of the products of industry.
  2. What periods in American history have been most prolific in non-religious communistic experiments? Describe a characteristic experiment of each period.
  3. Do communistic experiments, so far as you have studied them, throw any light upon the question of the probable success or failure of communism or socialism on a national scale? Explain.
  4. Characterize the social philosophy of one writer who is not an economist, covering the following points: (a) Is his philosophy religious or non-religious? (b) Does the writer discriminate between the obligation of the individual and that of the state? (c) Is his philosophy constructive or merely critical? (d) Has he a clearly defined principle of justice? If so, what is it?
  5. Is there a clearly defined principle of justice embodied in the competitive system? Explain.
  6. How does Marx account for the interest of capital?
  7. Does every government enterprise necessarily narrow the field for private enterprise and diminish the amount of competition? Explain.
  8. Would socialism entirely eliminate competition? If so, under what conditions?
  9. What is meant by the proposition that a single tax on land values is paid for all times by the one who owns the land at the time the tax is first imposed?
  10. Is an inheritance tax a socialistic measure? Explain.

Source: Harvard University Archives. Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), p. 40.

Image Source: “The trouble, my friends, with socialism is that it would destroy initiative” by Udo J. Keppler. Centerfold in Puck, v. 66, no. 1715 (January 12, 1910). Library of Congress Prints and Photographs Division Washington, D.C.

Illustration shows a large gorilla-like monster with human head, clutching clusters of buildings labeled “Public Utilities, Competition, [and] Small Business” with his right arm and left leg, as he crushes a building labeled “Untainted Success, Initiative, Individualism, Independence, [and] Ambition” with his left hand, causing some citizens to flee while others plead for mercy. He casts a shadow over the U.S. Capitol, tilting in the background.

Categories
Business Cycles Exam Questions Harvard Problem Sets

Harvard. Report guidelines and exam for commercial crises and trade cycles. Andrew, 1905-1906

While the exam questions for A. Piatt Andrew’s course on commercial crises and trade cycles for 1905-06 have been transcribed and posted earlier, this post adds his “Suggestions with regard to first report and accompanying chart.” This artifact provides a taste of an actual course assignment.  

__________________________

Previously posted

All of Andrew’s exams from his commercial crises and trade cycles course at Harvard for the academic years 1902-03 through 1907-08.

__________________________

Commercial Crises
and Cycles of Trade
Economics 12b
1905-06 

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

Course Enrollment
Commercial Crises
and Cycles of Trade
1905-06

[Economics] 12b 1hf. Ass’t. Professor Andrew. Commercial Crises and Cycles of Trade.

Total 55: 9 Graduates, 20 Seniors, 20 Juniors, 5 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1905-190 6, p. 72.

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

ECONOMICS 12b
SUGGESTIONS WITH REGARD TO FIRST REPORT AND ACCOMPANYING CHART

I. Concerning the Chart

  1. Neatness is desirable; accuracy essential.
  2. Before beginning the chart note the highest and the lowest figures, and devise a scale so that both may be included on the paper, but upon the largest possible plan.
  3. When several sets of figures are to be included upon the same chart, if possible, draw the various lines upon the same scale. If, by so doing, however, variations in one of the lines will be too small to be easily discerned, increase the scale for this line.
  4. Note the decimal division of the profile paper. Do not start with other than a decimal number as a basis. If you have a period covering 20 or 30 years a good plan is to let one of the large squares represent two years.
  5. When two or more decades are included mark the decennial years clearly with a heavier line than the other years.
  6. Bring the figures in every case as nearly to date as possible.
  7. Note on bottom of chart in small letters the source of your statistics, volume and page.
  8. Note also on chart whether the statistics are for the fiscal, calendar, or crop year, — or the year ending at what date.
  9. Place title and your own name somewhere on the chart.

II. Concerning the Report

  1. Give your figures in tabular form, naming all of the sources.
  2. Discuss the sources of your statistics, their authority, and their comprehensiveness.
  3. Trace the trade cycles as shown on your chart, showing the relation between the line movements and periods of prosperity or depression.
  4. Explain the reasons for the larger movements, paying particular attention to the maximal and minimal years. Show to what extent they may be caused by, or may be the cause of industrial fluctuations.
  5. When several countries are concerned note the resemblances and differences in their respective movements, explaining any important dissimilarities.
  6. Name all references employed in the preparation of the report. The references given by the instructor are only preliminary suggestions, and not meant to be sufficient for the completion of the report.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 1, Folder “Economics, 1905-1906”.

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

ECONOMICS 12b
Mid-year Examination, 1904-05

Omit one question
  1. Compare as regards recent cycles of trade,—
    1. the number and liabilities of failed firms.
    2. banking and commercial failures.
    3. railway and commercial failures.
  2. To what extent have changes in the clearings of the New York banks registered changes in general business?
  3. Explain Juglar’s theory as to the movements of bank loans and reserves, and state how far it is confirmed by American experience.
  4. Explain what was done by the Bank of England to relieve apprehension in 1825, 1847, 1857, 1866, 1890.
  5. Explain and discuss Rodbertus’ theory of crises.
  6. Upon what occasions within the past thirty-five years and by what means, have the American Secretaries of the Treasury helped to relieve a stringency in the financial centres?
  7. In what ways is business affected by the condition of the crops? Within what limitations? In the case of which crops is the connection closest?
  8. What part does “credit” play in the explanation of crises,—
    1. according to Laughlin,
    2. according to Chevalier,
    3. in your own opinion?
  9. In what ways and to what extent are trade conditions apt to be affected,—
    1. by the increasing gold supply,
    2. by the trust movement,
    3. by increasing armies and navies,
    4. by the present agricultural situation?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06. Also a copy in Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), p. 37.

Image Source: 1911 portrait of Abram Piatt Andrew, Jr. by Anders Born at Boston’s Isabella Stewart Gardner Museum. Wikimedia Commons.

Categories
Economics Programs Johns Hopkins

Johns Hopkins. Ten-Year Projects and Outlook for Department. 1968-1978

The following ten-year plan (1968-1978) proposal for the department of political economy of Johns Hopkins was most likely drafted by senior members of the department, though the precise author(s) is not clear from the document itself. The bottom line of this plan is a request to be allowed to expand the deparment’s faculty and graduate student body by by half and by two-thirds, respectively. Otherwise the department feared  the loss of its national reputation due to having a reduced scope and scale.

The plan is at least as interesting for its obiter dicta regarding e.g., air-conditioning, computer terminals, secretarial staff, etc. 

_______________________

TEN-YEAR PROJECTS AND OUTLOOK FOR
DEPARTMENT OF POLITICAL ECONOMY
[Draft, 1967]

I. Introduction and Summary

The Department of Political Economy, like the rest of the University, has concentrated on small numbers and high quality in its research and instructional programs. It is our intention to continue that tradition.
During the early postwar period, this Department produced as large a group of outstanding young economists as almost any university in the country. Its small faculty included several of the country’s most eminent economists. Between 1958 and 1961 the Department was plagued with resignations of senior faculty. At the same time resources available at other universities were growing rapidly. As a result the Department lost its former status as a major producer of research and scholars. Since 1961, the Department has steadily been rebuilt and is again able to attract its share of outstanding faculty and graduate students. But the Department still suffers to some extent from the factors responsible for its earlier troubles: its small size and limited resource base.
The Department now consists of 11 faculty and 45 resident Ph.D. candidates.
The program outlined in subsequent sections is designed to strengthen the Department by increasing Its size and financial base, while still permitting it to reap the advantages of its relatively small size.
During the next decade, the Department should grow to about 18 faculty members, or about 50%. Its Ph.D. candidates should grow to about 75, or by about two-thirds. Such growth is essential to add stability to the research and instructional programs, and to permit us to cover the growing number of specialties in the subject.
Growth will be expensive. Faculty salaries and graduate fellowships will continue to rise. And no university can retain excellence, let alone improve its position, without substantial budgetary increases. Within a decade, the Department’s budget for salaries and fellowships should almost triple.

II. Immediate Needs and Plans

A. In 1967-68, the Department has ten full-time faculty members, one joint appointment with Operations Research, and one faculty member whose major appointment is in the School of Public Health. (A second joint appointment with Public Health was made in Spring 1967, but the appointee will be in Pakistan for two years.) We have two vacancies. One is a professorship, and results from the Department’s having been permitted to replace Professor Evans prior to his retirement. We have appointed a visiting Professor to this post for 1968-69. The other vacant post is an Assistant Professorship, created in the spring of 1967.
The Department’s full-time faculty ought to expand to about 18 during the next decade. Three purposes would be served by such an expansion. First, it would provide the Department with more depth in the central specialties of economic theory and quantitative methods, so that a resignation or leave of absence would not disrupt the instructional program. Second, it would permit us to make appointments in important specialties not adequately covered by existing faculty. The inevitable increase in specialization through time makes gradual expansion necessary. Third, it would enable us to discharge our obligations to the instructional programs in international relations more adequately.
The Department is now actively seeking funds for the establishment of a Center for International Economic Studies within the Department. This Center would provide a focus for graduate instruction and research in the areas of international trade and economic development. The Center would provide a major substantive focus for the Department in addition to its present focus on economic theory and quantitative methods. In addition, it would help to fill a pressing social need, since the development of poor countries is perhaps the most pressing social problem of our time. Finally, it would permit us to exploit the unique advantages of the University’s proximity to Washington.
Although we are now strong in international economics, we are weak in economic development. Hence, a specialist in economic development is our most pressing need in terms of our proposed Center, our own graduate program, and our participation in the international relations programs. Our next highest priority is in the area of industrial organization, in which we now offer only one course in alternate years. Other fields in which we need additional strength are economic growth, public finance, private finance, econometrics, managerial economics, and Soviet-type economics.
Our needs are not equally urgent in all these areas. And not every specialty requires a separate appointment. Individual scholars often have interests in two or more specialties. Finally, the importance of particular specialties, and the interests of individual faculty members change gradually through time.

B. The most important research facilities for the Economics Department are the library and computational facilities. In both cases, the special needs of the Department will make it increasingly important in the coming decade to supplement the facilities available to the University as a whole.
For many years the Department has felt the need for a workroom where copies of major journals and reference books could be kept. In an important sense, the technical journals and data sources play the role in economics that the laboratory plays in an experimental. science. The movement of the library from Gilman Hall has imposed a major burden on faculty in the Department. In addition, faculty and graduate students in economics are now sufficiently numerous that duplicate copies of major journals are essential. We have made a small beginning toward meeting our library needs by establishing a workroom in our new quarters. A very limited number of journals is being purchased from research funds. In the coming years it will be important to expand the number of journals in our workroom, and to add major reference and data volumes. If a new social science building is constructed, or if the Department is able to expand its quarters as a result of the construction of a humanities building, a departmental library should be a major planning item.
The Department now has 6 desk calculators for use by faculty and students. Most are old and should be replaced with more modern machines within a few years. In the next decade we should at least double the number of calculators available. Some of our faculty now make frequent use of one or more of the real time-saving consoles located around the University. Within a short time, it will be important for the Department to have one or more such consoles in or near the Department area.
The Department now has two full-time and one half-time secretary. The half-time secretary is financed from research funds. Within a year or two she will need to be full time. Within a decade we will probably need five full-time secretaries. We need one additional electric typewriter this fall, and at least three modern tape recorders. During the coming years wo will need several additional typewriters and recorders, and other minor items of office equipment.

C. In the spring of 1967, we substantially revised both our undergraduate and graduate curricula. At the undergraduate level, the major change was to permit most courses to be taken after only two semesters economic theory rather than three as was previously required. This opened up, several courses in the Department to international relations majors and others outside the economics major. At the graduate level, the major change was to provide a more concentrated and integrated program in economic theory for first-year Ph.D. candidates.
During the last few years, the number of undergraduate registrations in economics courses has grown much more rapidly than the undergraduate student body. This is shown in the following table of selected registrations.

1963-64 1964-65 1965-66 1966-67
18.1 241 339 351 358
18.2 50 85 121 107
18.3 50 79 94 108
18.301-302 51 56 52 74
Total 392 559 618 647

This has necessitated our giving some courses each semester which were previously given in alternate semesters. Presumably, future growth in undergraduate registrations will more nearly approximate the growth in the student body. During the next few years our major need at the undergraduate level is to add a few specialized courses that will be available to students with a limited background in economics. Planned economics and urban economics are examples of such courses.
Our Ph.D. program is now too small. We do not have enough students to justify graduate courses in specialties which should be covered in a high quality graduate program, and we do not have enough faculty to offer the courses. We thus need to expand the graduate enrollment and the faculty simultaneously in order to be able to fill gaps in our graduate program in areas such as economic development, fiscal policy and industrial organization.

D. This Department is far smaller than any other major graduate department in economics. The next smallest, Princeton, is approximately the size that our projections indicate we will be in 10 years. Others are much larger.
We do not aspire to match the size and growth of most of the departments with which we compete for faculty and graduate students. We are firmly convinced of the advantages of smallness. But until very recently our size was almost below that required for viability. And we see clear advantages in some further growth, which would still retain the benefits of our relatively small size.

III. In this section I will discuss the undergraduate and graduate instructional programs, and faculty research activities in that order.

Undergraduates can either concentrate or major in economics. Although there is some tendency for better students to major rather than concentrate, some very able students choose the less intensive program. A stronger tendency is for those whose goal is a Ph.D. program in economics to major, and for others to concentrate.
An average senior class contains about 15 concentrators in economics. Some of these graduates take jobs, but many go to graduate school in business, law and economics.
An average senior class contains about 10 majors in economics. Although a few majors take jobs upon graduation, most attend graduate school in economics or business. And the program is designed with this group in mind. In recent years, our majors have undertaken successful graduate study at Chicago, Stanford, M.I.T., Johns Hopkins and other leading institutions. The Department’s requirements of a major include four semesters of economic theory, economic history, a year of statistics, a year of mathematics, a senior essay, and work on one or more advanced fields. We feel that our majors are as well prepared for graduate study as those at any university in the country.
For many years, the goal of our Ph.D. program has been to provide thorough training in economic theory, quantitative methods, and a small number of substantive fields to a small group of high quality students, most of whom intend to enter teaching and research posts. In the years 1950-1966, 63 people received the Ph.D. for work in this Department. This comes to 3.7 per year, but there is a slight upward trend, and we have given about five per year in recent years. Among them are some of the leading academic economists of the postwar generation. Our graduates hold posts at Yale, Chicago, Minnesota, Northwestern, Purdue, Wisconsin and other leading United States universities. They also hold major academic posts in the U.K., Israel, Japan and Australia.
In the early postwar period, Johns Hopkins had among its Ph.D. candidates more than its share of the best students who studied economics. This resulted from the high quality of the faculty, the small and personal nature of the Ph.D. program, and the ability of the Department to offer fellowships that were larger than those offered by competing institutions. In the late 1950’s, this situation changed, partly because of the loss of most of the Department’s senior faculty. Since 1981, the Department has been substantially rebuilt; and is again among the leading economics departments in this country. We have greatly improved the quality of the student body, and are now getting about our share of the best graduate students, but we have not regained our former edge. To do so is the goal of the plans outlined in other sections of this report.
In the Political Economy Department, as elsewhere in the University, most faculty research is basic rather than applied. Within that framework, however, a wide spectrum of subjects and techniques is encompassed. Some of the research is purely theoretical, employing mathematical and logical tools to improve our understanding of economic phenomenon. Most of the research, however, is quantitative, employing not only economic theory but also statistical methods and data.

IV. Relationship to the Hopkins community

A. At the undergraduate level, the enrollment in economics courses has grown rapidly in recent years. Nearly every undergraduate now takes at least one economics course. And for several years we have had more than a hundred students per year in each of our second and third courses in economic theory. About 50 students per year enroll in our course in current economic problems. In 1967-68, the Department will offer 11 semester courses at the 0-99 level, and 13 semester courses at the 300-level, all of them open to undergraduates who are not economics majors.
At the graduate level our Ph.D. candidates frequently take courses in the Departments of Mathematics, Statistics, and Operations Research. Less frequently they take courses in the Departments of Political Science, History, Geography, and Social Relations. Frequently, 300- and 600-level courses in economics are taken by Ph.D. candidates in Operations Research, Environmental Sciences, Statistics, and Geography. Less frequently, they are taken by students in History, Social Relations and Political Science. Sometimes, students from SAIS take our courses in international economics and economic development.
In recent years, there has been a considerable increase in the exchange of graduate students between this Department and others for course work. We expect this trend to continue and feel that it should be encouraged.

B. The Center for International Studies will be established within the Department of Political Economy. However, many problems within the Center’s purview require interdisciplinary study, and we hope to use the Center as a vehicle for joint teaching and research programs. SAIS is the most natural partner for such ventures, but we hope to explore possibilities with Homewood departments also.

C. The Department takes an active part in the A.B.-M.A. and Ph.D. programs in international relations. We give year courses in international economics and economic development mainly for students in these programs. In our curriculum revision last spring, we reduced the prerequisites for these courses to make them more accessible to international relations specialists. We are generally pleased with our success in staffing the economics part of the international relations program. However, we feel a need for a major appointment in economic development before we can be fully satisfied with our contribution.
The Political Economy Department has one joint appointment with the Operations Research Department. In addition, wo have two faculty members in the Department whose major appointments are in the School of Public Health. The Department has no fixed policy regarding joint appointments. Those that wo have are successful because of special circumstances in which such an arrangement is in the interests of all parties. We expect that such circumstances will arise again. But we think it unwise to plan for certain numbers or kinds of joint appointments.

V. Instructional Program

A. The following table summarizes the Department’s instructional program in 1967-68:

Course Number No. of Courses Hours Per Week Credit Hours No. of Courses Hours Per Week Credit Hours No. of Courses Hours Per Week Credit Hours
0 – 99 5 14 14 6 17 17 11 31 31
300-399 7 15 22 ½ 6 13 19 ½ 13 23 42
600-699 11 23 12 24 23 47
Total 23 52 24 54 47 106

Each full-time faculty member except the chairman teaches two courses per semester. The chairman teaches three courses per year. All faculty attend the weekly Department seminar. Most faculty members will attend our dissertation seminar several times a year.
All courses numbered 0-99 are open to all qualified undergraduates, whether they are economics majors or not. All 300-399 numbered courses are open to qualified undergraduates and to graduate students from other departments. A few are not normally taken by Ph.D. candidates in economics. 600-699 numbered courses are open to graduate students in this and other departments.
It is difficult to predict future growth of undergraduate enrollment since, as stated above, we expect it to grow about as fast as the undergraduate student body, which we do not control. However, even in the absence of substantial growth in enrollments, there are several courses that should be added either at the 0-99 or the 300-399 level. These include comparative economic systems, corporation finance, public finance, and economic growth. Some other courses, now given only in alternate years, should be given every year. These include industrial organization, economics of education, and urban economics. Substantial growth in enrollments would require that we offer additional sections of some courses and that we offer some courses every semester rather than once a year.
At the graduate level, our intake of students has been between 10 and 15 for several years, resulting in a body of about 35 students in residence. We have now embarked on a conscious program of increasing the size of our graduate program; in 1967-68, 18 students entered and our student body is 45. Our intake should increase gradually over the coming decade to about 25, with a resulting student body of about 75. Seventy-five is the present graduate enrollment of the next smallest of major graduate programs in economics in other universities. Others are considerably larger. We feel that this growth is necessary to enable us to offer the range of courses now required for proper coverage of our subject matter.
Unless a major expansion of the international relations program is undertaken, we should not have to devote more faculty resources to it, once we have made the appointment we are now seeking in economic development.
Expansion of the faculty from 11 to 18 would permit the addition of 28 semester courses in the Department. The exact nature and level of the courses to added will depend on the interests of faculty members recruited, the interests of undergraduate and graduate students, and developments in the subject matter. However, we expect to continue the policy of devoting roughly half the Department’s teaching resources to courses numbered 0-99 and 300-399, and the other half to 600-level courses.

B. The Department completely reorganized both its undergraduate and graduate curricula in the spring of 1967. This reorganization permitted us to identify clearly the gaps in our program referred to in Section II. We feel that our only pressing curriculum need is now to fill these gaps. Major curriculum reform becomes necessary periodically in a developing discipline, but we have no plans for further reform.

VI. Resources Outside the University

The Department has no formal relationship with organizations outside the University. The Department does, however, benefit from proximity to Washington in several ways. First, proximity to Washington is an attraction to some actual and prospective faculty members. They may obtain data, attend meetings and seminars, and occasionally undertake paid consulting at U.S. Government agencies, international organizations, or private research Institutions. Second, Washington is an attractive source of summer jobs for our graduate students, and a few of our graduates take permanent posts there.

VII. Space requirements

In the spring of 1967 the Department moved into new quarters on the fourth floor of Gilman Hall. These quarters are an important improvement over those previously available to the Department. The new quarters consist of 12 faculty offices, a departmental office, a calculator room, 11 small cubicles for graduate students, a seminar room, and a workroom where recent technical journals are kept.
In terms of space needs, however, the now quarters are already inadequate. We now have 13 faculty posts in the Department, but only 12 offices. In fall 1968 we expect to have all 13 posts filled, and we will have the Hinkley Professor in the Department. We will thus be two offices short. In addition, we recently hired a part-time secretary. The Department office is adequate for only the two secretaries now occupying it and we have to house the new secretary in the calculator room. Within the next year the part-time post will have to be made full time, and the housing problem will be acute.
The ten-year projection for the Department will require major additions to the Department’s space facilities. Faculty offices will have to expand from 12 to 18. The secretarial force will have to expand to at least five, and that will require at least two rooms entirely devoted to secretarial use. The Department now has one seminar room. Virtually all our 300- and 600-level courses are held there and it is in use more than 35 hours per week within a short time it will be necessary to have an additional seminar room. Within ten years it will be important to have a third room that can be used for seminars, conferences and other meetings. Within the next few years we will need a larger calculator room. We already need additional calculators, and this need will grow as the faculty and graduate student body grows. In addition, we will shortly need one or more real time sharing consoles in the Department area.
It is clear that a building to house either the social or behavioral sciences is already overdue at Johns Hopkins. Despite all the building on the campus in the last decade, the social sciences and humanities – as well as statistics and various ancillary facilities are still all housed In Gilman Hall. It is virtually the only building on the campus that is not fully air conditioned. And the removal of the main library has worsened the situation.
The nature of this Department’s space needs would make it difficult, but not impossible, to satisfy them by regrouping the Gilman facilities if some other departments were to be housed in other buildings. A social or behavioral science building – which would include economics ought to be a major part of the 10-year fund raising program.

VIII. Tables and Graphs

A. The following table shows the undergraduate concentrators and majors in Political Economy for 1967-68:

Concentrators Majors
Juniors 5 10
Seniors 16 9

This table does not include the BIM students.
In 1967-68 the Department has 18 entering and 27 returning graduate students. We have no post-doctoral students.

B. Faculty

Edwin S. Mills – Professor and Chairman

Age: 39
econometrics, statistics, microeconomics
Research projects: [blank]

Bela Balassa – Professor

Age: 39
International trade, economic theory, comparative systems, economic development
Research projects: [blank]

Carl F. Christ – Professor

Age: 44
econometrics, macroeconomics, money
Research projects: [blank]

G. Heberton Evans, Jr. – Professor

Age: 67
economic history, history of economic thought, private finance
Research projects: [blank]

Herbert E. Klarman – Professor

Age: 51
economics of health, public finance
Research projects: [blank]

Peter Newman – Professor

Age: 39
economic theory, mathematical economics, economic development
Research projects: [blank]

Jürg Niehans – Professor

Age: 48
economic theory, money
Research Projects: [blank]

Frederick T. Sparrow – Associate Professor

Age: [blank]
operations research, microeconomic theory, managerial economics
Research projects: [blank]

William Oakland – Assistant Professor

Age: 28
public finance, money, economic theory
Research projects: [blank]

John Owen – Assistant Professor

Age: 35
labor, economic theory, education
Research Projects: [blank]

William Poole – Assistant Professor

Age: 30
money, macroeconomics, international trade
Research projects: [blank]

H. Louis Stettler, III – Assistant Professor

Age: 29
economic history, economic theory, statistics
Research projects: [blank]

C. As was stated above, the Department should grow from its present size of 12 faculty members to 18 during the next decade. We feel that the current division by rank — about half the faculty are professors — is about right. The following table shows a feasible growth pattern to meet the projected goal:

1967-68

1968-69 1969-70 1970-71 1971-72 1972-73 1973-74 1974-75 1975-76 1976-77

1977-78

Prof.

6 7 7 7 7 7 8 8 8 8 9
Assoc. Prof. 1 1 2 2 2 2 2 2 2 2

2

Asst. Prof.

4 5 5 5 6 6 6 6 7 7 7
Total 11 13 14 14 15 15 16 16 17 17

18

Our priorities among specialties were indicated in Section II. Beyond that, it is not possible to indicate which appointments should be made in which years and at which levels. Much depends on the availability of particular faculty in whom we are interested and on combinations of zfields in which prospective faculty are interested.

D. The Department is not persuaded that there is an important place for postdoctoral studies in economics during the next decade. Promising graduate students now obtain well-paid posts at universities with graduate programs and with relatively light teaching loads. Our impression is that it would be difficult to entice them to post-doctoral fellowships, and that there is little merit in doing so. Nor are we persuaded that there is a substantial group of young economists at small colleges who could produce significant books and papers if given a year off from heavy teaching duties. The only promising possibility seems to be to find a small number of young foreign scholars who have the Ph.D. or its equivalent, and who could spend a year here with mutual benefit to themselves and to us. The Department is not prepared to urge such a program at this time.

E. The accompanying table shows a projected ton-year budget for the Department of Political Economy. The personnel item includes base salaries and fringe benefits of faculty, secretaries and junior instructors. It assumes that faculty salaries will rise by 7% per year over the next decade. It also takes account of the faculty expansion projected in Section E.
The fellowship budget includes graduate fellowships, tuition and stipends, from whatever source. At present, some is University money, some is U.S. Government money funneled through the University (NDEA, NSF), some is fellowship money obtained by students with Department recommendations, and some is money obtained by students (mostly foreigners) entirely on their own (from foreign sources, U.S. State Department, foundations). This budget assumes that fellowships per student will rise by about 5% per year during the next decade. The table also assumes that the number of entering students will rise from 18 to 25, and the total graduate student body from 45 to 75, over the next decade.
The third line projects a growth of the Department’s incidental and telephone accounts by about 5% per year over the decade.
Excluded from the table are research funds for supplemental faculty salary, research assistants, or computing. No attempt has been made to project funds available from sponsored research or from University sources such as the faculty research grants fund.

1967-68

1968-69 1969-70 1970-71 1971-72

1972-73

Personnel

233,640 250,000 306,400 340,700 356,500 395,500
Fellowships 159,500 186,000 207,100 229,700 254,100

280,400

Telephones, Supplies

4,000 4,200 4,400 4,600 4,900 5,100
397,140 440,200 517,900 575,000 615,500

681,000

1973-74

1974-75 1975-76 1976-77 1977-78
Personnel 453,200 484,900 535,800 573,800

653,400

Fellowships

308,600 339,000 371,600 401,200 432,800
Telephones, Supplies 5,400 5,600 5,900 6,200

6,500

767,200

829,500 913,300 981,200

1,092,700

Source: Johns Hopkins University. The Eisenhower Library. Ferdinand Hamburger, Jr. Archives. Department of Political Economy [Records], Box 5, Folder “Planning Documents: 1938, 1965, 1967”.

Categories
Distribution Exam Questions Harvard Theory

Harvard. Final exam for distribution theory. Carver, 1905-1906

 

Thomas Nixon Carver was hired by Harvard based on his work in economic theory. As it turned out theory would only constitute a minor share of his portfolio of courses at Harvard. Here we have the exam for a theoretical course offered in 1905-06 dedicated to the functional distribution of income. This is the second time Thomas Nixon Carver taught this one-semester course at Harvard. (Exam from its initial run in 1904-05).

The course content is undoubtedly captured in Carver’s 1904 book The Distribution of Wealth which was reprinted several times during his lifetime.

__________________________

Course Enrollment
Distribution of Wealth
1905-06

Economics 14a 1hf. Professor Carver. — The Distribution of Wealth.

Total 46: 7 Graduates, 25 Seniors, 9 Juniors, 2 Sophomores, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 73.

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

ECONOMICS 14a
Distribution of Wealth
Year-end Examination, 1904-05

  1. Why does the value of a consumable commodity fall when its supply increases, — other things remaining the same?
  2. Ditto of a productive factor?
  3. What limits or checks the supply of labor?
  4. Ditto of land?
  5. Ditto of capital?
  6. Fill out the blank columns in the [following] table.

Total Crop, Marginal Product of Labor, Total Wages, and Rent (All in Bushels) from Four Farms of Different Productivity when cultivated by Varying Numbers of Laborers, Capital being left out of account.

Farm A

Total crop Marginal product Total wages Total rent

Rent per acre

1 500
2 900
3 1200
4 1400
5 1500
 

Farm B

Total crop Marginal product Total wages Total rent

Rent per acre

1 400
2 700
3 900
4 1000
5
 

Farm C

Total crop Marginal product Total wages Total rent

Rent per acre

1 300
2 500
3 600
4
5
 

Farm D

Total crop Marginal product Total wages Total rent

Rent per acre

1 200
2 300
3
4
5
  1. In what proportion could six laborers be most advantageously distributed among these farms? Ten laborers? Fourteen laborers?
  2. When there are six laborers employed, how much, in bushels, would the product of the whole group of farms and laborers be reduced by the removal of one laborer, assuming the laborers all to be of the same efficiency? Ditto when there are ten laborers?
  3. When there are fourteen laborers employed on these farms, how much, in bushels, would the product of the whole group be increased by the opening up of a new farm of the same grade as farm A, and the transfer to it of four of the laborers?
  4. Compare Clark’s theory of business profits with Walker’s.
  5. State Hollander’s position on the question. Does rent enter into price?
  6. Compare Clark’s definition of capital with Taussig’s.

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06.

Image Source: Portrait of Thomas Nixon Carver from the Harvard Class Album 1913. Colorized by Economics in the Rear-view Mirror.

 

Categories
Economists Harvard Transcript

Harvard. Application for PhD candidacy. Arthur Eli Monroe, 1915

 

The graduate school records of Arthur Eli Monroe (A.B., 1908; A.M., 1914; Ph.D., 1918) are reasonably complete, allowing us to follow the course of his graduate studies and learn some details regarding his satisfaction of the Ph.D. requirements at Harvard. He did stay at his alma mater for his entire career, with his academic high-water mark attained at the rank of assistant professor of economics from 1922-28. He was able to occupy an instructional niche as lecturer-tutor, which is pretty good considering he entered graduate school in economics after doing what he could to avoid the subject during his college years.

Tutor, 1915-1923
Instructor in Economics, 1916-22
Assistant Professor of Economics, 1922-28
Lecturer on and tutor (Kirkland House) in economics beginning in 1928 through his retirement sometime in the 1950’s.

For historians of economics Monroe’s 1924 edited volume Early Economic Thought: Selections from Economic Literature Prior to Adam Smith is a useful collection of bite-sized chunks of original texts, though current students of economics might possibly choke on Monroe’s servings.

_______________________

From Reports of the Harvard College Class of 1908

ARTHUR ELI MONROE
[1914]

After spending half a year in looking for a job, and four years and a half in working at it, I withdrew from the teaching profession, which had occupied me continuously, and strenuously at Kent School, Kent, Conn., to enter the Harvard Graduate School. Since leaving college, I had become interested in Economics. This has been the subject of my work this year, and I hope to continue it at Harvard next year. Member: Phi Beta Kappa.

Source: Harvard College, Class of 1908. Secretary’s Second Report, Sexennial Celebration, June 1914, p. 233.

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

ARTHUR ELI MONROE
[1918]

Born: West Brookfield, Mass., Aug. 2, 1885.
Parents: Eli Monroe, Louise Octavia Arsino.
School: High School, Brookfield, Mass.
Degrees: A.B., 1908; A.M., 1914; Ph.D., 1918.
Occupation: Teacher.
Address: 56 Thayer Hall, Cambridge, Mass.

After graduation I taught Latin and German in a boys boarding school (Kent School, Kent, Conn.), until June, 1913, when I returned to Harvard for graduate work in economics, a subject I had carefully avoided in college. The next year I was appointed assistant in economics in Harvard College, to which was later added a tutorship. In January, 1916, I went to Williams College, to substitute for Professor McLaren, remaining until the end of the college year. I have been at Harvard since then, as instructor and tutor.

Source: Harvard College, Class of 1908. Secretary’s Third Report, Decennial Report, April 1920, p. 334.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

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

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

Arthur Eli Monroe. West Brookfield, Mass. Aug. 2, 1885.

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

Harvard College, Sept. 1904 – June 1908
Harvard Graduate 
School. Arts & Sciences, Sept. 1913 –
Teacher, Latin and German, Kent School. 1909 – 1913

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

A.B. [magna cum laude] (Harvard) 1908
A.M. (Harvard) 1914

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

French 2c, 6, 9
German A, 1a, 4, 6, H, 32b, 9
Latin B, 1, E
Greek B, E

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

Economics

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

  1. Economic Theory & Its History.
    Economics 11, 7, 14, Reading
    Assistant in Economics A
  2. Economic History since 1750.
    Economics 2a, 2b, Reading
  3. Public Finance.
    Economics 31
  4. Statistical Method & its Application.
    Economics 13
  5. History of Political Theory.
    Private Reading
  6. Special field to be a suitable portion of the field of the History of Economic Thought

VII. Special Subject for the special examination.

Some topic in the History of American Economic Thought

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

Professor Bullock

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

General Examination, Autumn, 1915

X. Remarks

[Left blank]

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

[signed] Charles J. Bullock

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

[Not to be filled out by the applicant]

Name: A. E. Monroe

Approved: May 28, 1915

Ability to use French certified by F. W. Taussig

Ability to use German certified by F. W. Taussig

Date of general examination 13 October 1915. Passed [per W.C.W.]

Thesis received [Left blank]

Read by [Left blank]

Approved [Left blank]

Date of special examination 20 May 1918. Passed 

Recommended for the Doctorate[left blank]

Degree conferred  [left blank]

Remarks.  [left blank]

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

Record of ARTHUR ELI MONROE in the Graduate School of Arts and Sciences of Harvard University

1913-14

 

Economics 2a1 [half course]
[European Industry and Commerce in the Nineteenth Century, Prof. Gay]
B
Economics 2b2 [half course]
[Economic and Financial History of the United States, Prof. Gay]
B minus
Economics 7
[Theories of Distribution and Distributive Justice, Asst. Prof. Anderson]
A
Economics 11
[Economic Theory, Prof. Taussig]
A
Economics 31
[Public Finance, Prof. Bullock]
A
1914-15
Economics 13
[Statistics: Theory, Method, and Practice, Asst. Prof. Day]
A
Economics 14
[History and Literature of Economics to the year 1848, Prof. Bullock]
A
1915-16
Economics 20e (2 co. [courses?])
[Economic Research (American Taxation and Finance; History of Economic Thought, Prof. Bullock]
AA
1916-17
Economics 20e (2 co.) [courses?])
[Economic Research (American Taxation and Finance; History of Economic Thought, Prof. Bullock]
AA
1917-18
Economics 20
[Economic Research (for Ph.D. candidates)]
A

Note: A transcript can also be found in Harvard University Archives, Graduate School of Arts and Sciences. Record Cards of Students, 1895-1930, Marks—Neville (UAV 161.2722.5). File I, Box 10, Record Card of Arthur Eli Monroe.

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

Certification of reading knowledge of French and German

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
H. L. Gray

Cambridge, Massachusetts
April 28, 1915.

Dear Haskins:

I hereby certify that A. E. Monroe has reading knowledge of French and German such as is required for the Ph.D. degree.

Sincerely yours,
[signed] F. W. Taussig

Dean C. H. Haskins

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

Approval of Ph.D. Plan of Study
[Carbon copy]

4 June 1915

Dear Mr. Monroe:

At a meeting on May 28 the Division of History, Government, and Economics voted to approve your plan of study for your degree of Doctor of Philosophy.

Very truly yours,
[unsigned]

Mr. A. E. Monroe

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

Committee named for the General Exam
[Carbon copy]

[Note: identical copies were sent to Professors Gay, Taussig, Day, Holcombe]

4 October 1915.

Dear Professor Bullock:

Will you kindly serve as one of the committee for the General Examination in Economics of Arthur E. Munroe, Wednesday, October 13, at 4 P. M.? The committee consists of Professors Bullock (Chairman), Taussig, Gay, Day, and Holcombe.

Mr. Muroe’s subjects are: Economic Theory and Its History, Economic History since 1750, Public Finance, Statistical Method and its Application, History of Political Theory, and a special field to be a suitable portion of the field of the History of Economic Thought.

Mr. Munroe has decided upon Public Finance and Statistics. Will you kindly see that the papers are set and the written examination held a reasonable time in advance of the oral?

Very sincerely yours,
[unsigned]

Professor C. J. Bullock.

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

Time and Place of General Exam
[Carbon copy]

9 October 1915

My dear Mr. Monroe:

Your examination, Wednesday, October 13, will be held in Widener U at 4 P.M.

Yours very truly,
[initials of Dean Haskins added]
C. H. H.

Mr. A. E. Monroe

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

Passed General Exam

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.

Cambridge, Massachusetts
October 14, 1915.

My dear Haskins:

Mr. A. E. Monroe passed his general examination for the doctor’s degree in Economics on October 18th. He passed creditably in all subjects except History of Political Theory, in which his examination was not satisfactory; but the instructor thought should not stand in his way if the other subjects were good.
His written examinations in Public Finance and Statistics were of A quality, and his oral examination in the other economic subjects was thoroly satisfactory.

Sincerely yours,
[signed] Charles J. Bullock

Dean C. H. Haskins.

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

Special Exam Field
[carbon copy]

25 January 1917

Dear Mr. Monroe:
At its meeting last Tuesday the Division of History, Government, and Economics voted to approve, as your special field, the History of Economic Thought to 1776, with special reference to the period subsequent to 1500.

Sincerely yours,
[unsigned copy]

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

Passed Special Exam

HARVARD UNIVERSITY
Department of Economics

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague
E. E. Day
B. M. Anderson, Jr.
J. S. Davis
H. H. Burbank

Cambridge, Massachusetts
May 21, 1918.

My dear Haskins:

I wish to report that yesterday Mr. A. E. Monroe passed his special examination for the degree of Doctor of Philosophy. Mr. Monroe passed an unusually good examination which was from every point of view thoroly satisfactory.

Sincerely yours,
[signed] Charles J. Bullock

Dean C. H. Haskins

Source: Harvard University Archives. Division of History, Government, and Economics. Ph.D. exams and records of candidates, study plans, lists, etc. pre-1911-1942. Box 3. Folder “Ph.D. Applications.”

_______________________

Ph.D. Dissertation

Arthur Eli Monroe’s 1918 Ph.D. thesis “The Theory of Money before 1776” was revised and published as Monetary theory before Adam Smith as number 25 of the Harvard Economic Studies (1923).

Image Source: At least as early as 1923, this portrait of Arthur Eli Monroe is found in the Harvard Class Albums. This portrait clipped from the 1925 Class Album and colorized by Economics in the Rear-view Mirror.

Categories
Exam Questions Harvard

Harvard. Exam questions for Medieval and Modern Economic History of Europe. Gay, 1905-1906

For most of the twentieth century you didn’t have a full and complete economics department without significant course offerings in economic history. Needless to say, Harvard has had a full and complete economics department. 

This post contributes an incremental addition to the collection of economics exams with those from Edwin Francis Gay’s European economic history courses at Harvard in 1905-06.

___________________________

Related posts

A brief course description for Economics 11 plus the exams from 1902-03.

Exams for 1903-04.

Exams for 1904-05.

A short bibliography for “serious students” of economic history assembled by Gay and published in 1910 has also been posted.

Gay and Usher’s economic history exams from 1930 through 1949.

__________________________

Mediaeval Economic History of Europe.

Course Enrollment
1905-06

Economics 10 1hf. Asst. Professor Gay. — Mediaeval Economic History of Europe.

Total 8: 6 Graduates, 1 Senior, 1 Junior.

Source: Harvard University. Report of the President of Harvard College, 1905-190 6, p. 72.

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

ECONOMICS 101
Final Examination
Mid-year 1905-06
  1. Explain briefly:—
    1. gwely.
    2. liti.
    3. molmen.
    4. formariage.
    5. lettre de foire.
    6. mercator.
    7. commenda.
    8. contractus trinius.
    9. droit d’amortissement, droit de régale.
    10. tunnage and poundage.
  2. Outline the estate organization prescribed by the Capitulare de Villis.
  3. “It seems to be almost certain that the ‘hams’ and ‘tuns’ (of England) were, generally speaking, and for the most part from the first, practically manors with communities in serfdom upon them.” Whose view is this? State succinctly the chief arguments for and against.
  4. Enumerate the chief franchises and privileges of a fair. What was the jus fori?

Take one of the following questions:

  1. What were the provisions of the Law Merchant in regard to sales and contracts?
  2. What is the significance of the following passages:—
    1. “ne alienigene opus suum operatum ad forum non deferant, nisi cum omnium eorum voluntate qui juri illo quod inninge appellatur participes existunt.” (Privilege to Magdeburg shoemakers, end of the twelfth century.)
    2. “quod nullus textor potest vel debet in aliqua civitate nullo etiam tempore, ubi non habet consortium mercatorum quod vulgariter ignige appellatur, pannos incidere.” (Halberstadt, 1291.)
    3. “Si aliquis alienus vult societatem pistorum, quod Innunge dicitur, ille dabit duas marcas et due partes spectabunt ad civitatem, una pars ad pistores.” (Neumarkt, 1235.)

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06. Also a copy in Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), pp. 35-36. 

________________________

Modern Economic History of Europe

Course Enrollment
Economics 11
1905-06

Economics 11. Asst. Professor Gay. — Modern Economic History of Europe.

Total 10: 8 Graduates, 2 Seniors.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 72.

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

ECONOMICS 11
Mid-year Examination, 1905-06
  1. Explain briefly:—
    1. purveyance.
    2. staple.
    3. copyhold.
    4. Leibzins.
    5. mainmorte.
    6. mesta.
  2. What were the chief factors in the emancipation of the serf? Compare the history of the movement in England with that in Germany.
  3. The craft gild:
    1. What in general was its object and policy?
    2. What, during the sixteenth century, was the attitude of the national government to the craft gilds in England and in France?
    3. What was the Statute of Artificers?
  4. Outline the history of the trade relations between England and northern Europe during the fifteenth and sixteenth centuries, stating the chief facts connected with the decline of the Hanseatic position in England and the rise of the Merchant Adventurers.
  5. Describe succinctly the price movement of the sixteenth century, its extent, character, causes, and results.

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06.

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

ECONOMICS 11
Year-end Examination, 1905-06
  1. State briefly the place in English economic history of Gresham, Burleigh, Cromwell, Paterson, Walpole, Bakewell, Arkwright, the younger Pitt.
  2. [Wages]
    1. Describe, stating causes, the growth of the wage-earning class in England.
    2. Summarize the history and results of wage regulation by public authority.
    3. The average daily wage of an English artisan at the close of the sixteenth century was about one shilling. How would you determine the modern equivalent in purchasing power? What other factors should be considered in a comparison of conditions?
  3. Compare the commerce of England with that of France in the eighteenth century. Can the comparative magnitude be statistically measured? If so, with what result? If not, why not?
  4. Why did the Industrial Revolution take place in England in the latter part of the eighteenth century? What facts of English agricultural history bear upon this question?
  5. Describe the transitions in industrial organization leading up to the domestic system, to the factory system.

Source: Harvard University Archives. Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), pp. 36-37.

Image Source: Image of a page from the Statute of Artificers  in Vimala C. Pasupathi, Shall Strangers Rule the Roast? Migration and Displacement in Sir Thomas More (1600).

Categories
Exam Questions Harvard Labor

Harvard. Report assignments and final exam for Problems of Labor. Ripley et al., 1905-1906

Professor William Zebina Ripley’s courses at Harvard ranged from economic and social statistics, through transportation economics, industrial organization and regulation, and (as we see in this post) labor economics/industrial relations. Besides the enrollment figures and the final exam questions for the course, we were able to fish copies of the report assignments for 1905-06 from the Harvard archives. This course material has been transcribed and can be found below.

Fun fact: the teaching assistant Mr. Houghton can be identified as William Morris Houghton who received an A.M. from Harvard in 1904 and went off to work as a writer for the New York Herald Tribune, first as a reporter/feature writer and then as an editorial writer (and was included in the 35th anniversary of the Yale Class of 1904 as a member of the class who did not graduate from Yale).

__________________________

Other Labor Related Posts
for William Z. Ripley

Problems of Labor and Industrial Organization, 1902-1903.

Problems of Labor, 1903-1904.

Problems of Labor, 1904-05.

Short Bibliography of Trade Unionism, 1910.

Short Bibliography of Strikes and Boycotts, 1910.

Trade Unionism and Allied Problems, 1914-1915.

Problems of Labor, 1931.

__________________________

Course Enrollment

Economics 9a 1hf. Professor [William Zebina] Ripley, assisted by Messrs. [Vanderveer] Custis and [William Morris] Houghton. — Problems of Labor.

Total 96: 7 Graduates, 23 Seniors, 42 Juniors, 17 Sophomores, 7 Others.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 72.

__________________________

HARVARD UNIVERSITY

ECONOMICS 9a

ASSIGNMENT OF REPORTS

Group A

            Students will report upon the comparative conditions respecting Trade Union organization, functions, and efficiency in corresponding industries in the United States and Great Britain. The particular industry assigned to each man is indicated by a number on the enrolment slip, which refers to the Trade Union number on the appended list of National Labor Organizations.

Group B

            Students will report upon the comparative efficiency of Trade Union organization in two distinct lines of industry in the United States. Numbers against the names on the enrolment slip refer to the numbered Trade Union list, appended hereto.

Group C

            Students will report upon the nature of Trade Union organization in two distinct lines of industry in Great Britain. Names on the enrolment slip as numbered refer to the industries concerned in the appended list of Trade Unions.

          → The letters preceding the assignment number against the student’s name refer to the group in which the report is to be made. Thus, for example: “98 A” on the enrolment slip indicates that the student is to report upon the Cotton Spinners’ Unions in the United States and Great Britain; “9 & 98 B,” that a comparison of the Spinners’ and of the Boot and Shoe Workers’ Organizations in the United States is expected; while “9 & 98 C” calls for the same comparison for the two industries in Great Britain.

NATIONAL LABOR ORGANIZATIONS
IN THE UNITED STATES

*Indicates that the Trade Union journal is in the Library. [Loeb Fund.]

† Reference to Reports, U.S. Industrial Commission, is given within parentheses.

*The KNIGHTS OF LABOR
*THE AMERICAN FEDERATION OF LABOR

  1. Actors’ International Union.
  2. Asbestos Workers of America.
  3. Bakery and Confectionery Workers.
  4. Barbers’ International Union.
  5. Bill Posters and Billers of America.
  6. International Brotherhood of Blacksmiths.
  7. *Boiler Makers and Iron Ship Builders of America.
  8. International Brotherhood of Bookbinders.
  9. Boot and Shoe Workers’ Union. († VII, 356; XIV, 333.)
  10. United Brewery Workmen.
  11. *Brick, Tile and Terra Cotta Workers’ Alliance.
  12. Bridge and Structural Iron Workers.
  13. Broom and Whisk Makers’ Union.
  14. Brushmakers’ International Union.
  15. *United Brotherhood of Carpenters and Joiners of America.
  16. Amalgamated Society of Carpenters and Joiners.
  17. International Carriage and Wagon Workers.
  18. International Wood Carvers’ Association.
  19. International Association of Car Workers.
  20. Brotherhood of Cement Workers.
  21. Chainmakers’ National Union.
  22. *Cigarmakers’ International Union. († VII, 257, 715.)
  23. Retail Clerks’ International Protective Association.
  24. United Cloth Hat and Cap Makers.
  25. Commercial Telegraphers’ Union of America.
  26. International Compressed Air Workers’ Union.
  27. Coopers’ International Union.
  28. Amalgamated Lace Curtain Operatives.
  29. International Union of Cutting Die and Cutter Makers.
  30. International Union of Electrical Workers. († VII, 375.)
  31. International Union of Elevator Constructors.
  32. International Union of Steam Engineers.
  33. International Association of Watch Case Engravers.
  34. International Brotherhood of Stationary Firemen.
  35. International Association of Steam and Hot Water Fitters and Helpers. († VII, 964.)
  36. International Union of Flour and Cereal Mill Employes.
  37. International Brotherhood of Foundry Employes.
  38. International Union of Interior Freight Handlers and Warehousemen.
  39. International Association of Fur Workers.
  40. United Garment Workers of America. († VII, 182.)
  41. International Ladies’ Garment Workers’ Union.
  42. Glass Bottle Blowers’ Association. († VII, 102, 920.)
  43. *Glass Workers’ International Association.
  44. International Glove Workers’ Union.
  45. *Granite Cutters’ International Association. († XIV, 422.)
  46. Pocket Knife Blade Grinders’ and Finishers’ National Union.
  47. Table Knife Grinders’ National Union.
  48. United Hatters of North America.
  49. Hod Carriers and Building Laborers’ Union.
  50. International Union of Journeymen Horse-Shoers.
  51. Hotel and Restaurant Employes’ International Alliance and Bartenders’ International League.
  52. Iron, Steel and Tin Workers. († VII, 84.)
  53. International Jewelry Workers’ Union.
  54. International Union of Wood, Wire, and Metal Lathers.
  55. International Union of Shirt, Waist, and Laundry Workers.
  56. United Brotherhood of Leather Workers on Horse Goods.
  57. Amalgamated Leather Workers’ Union.
  58. International Protective and Beneficial Association of Lithographers.
  59. International Protective Association of Lithographic Press Feeders.
  60. International Longshoremen’s Association.
  61. National Association of Machine Printers and Color Mixers.
  62. *International Association of Machinists.
  63. International Brotherhood of Maintenance of Way Employes.
  64. International Association of Marble Workers.
  65. *Meat Cutters and Butcher Workmen.
  66. International Union of Metal Polishers, Buffers, Platers, and Brass Workers.
  67. International Alliance of Amalgamated Sheet Metal Workers.
  68. *United Mine Workers.
  69. International Molders’ Union.
  70. American Federation of Musicians.
  71. Brotherhood of Painters, Decorators and Paper Hangers.
  72. United Brotherhood of Paper Makers.
  73. Pattern Makers’ League.
  74. International Union of Pavers, Rammermen, Flag Layers, Bridge and Stone Curb Setters.
  75. Paving Cutters’ Union.
  76. International Photo-Engravers’ Union.
  77. *International Piano and Organ Workers’ Union.
  78. International Steel and Copper Plate Printers’ Union.
  79. International Association of Operative Plasterers.
  80. United Association of Plumbers, Gas Fitters, Steam Fitters, and Steam Fitters’ Helpers.
  81. National Federation of Post Office Clerks.
  82. National Brotherhood of Operative Potters. († XIV, 636, 643.)
  83. United Powder and High Explosive Workers.
  84. National Print Cutters’ Association.
  85. International Printing Pressmen’s Union.
  86. International Brotherhood of Pulp, Sulphite and Paper Mill Workers.
  87. Quarry Workers’ International Union.
  88. *Order of Railroad Telegraphers. († XVII, 821.)
  89. Brotherhood of Railway Clerks.
  90. Amalgamated Association of Street and Electric Railway Employes. († VII, 205.)
  91. International Brotherhood of Roofers, Composition, Damp and Waterproof Workers.
  92. Saw Smiths’ National Union.
  93. *International Seamen’s Union.
  94. International Shingle Weavers’ Union.
  95. International Union of Shipwrights’ Joiners and Caulkers.
  96. International Slate and Tile Roofers’ Union.
  97. International Union of Slate Workers.
  98. Spinners’ International Union. († XIV, 564, 573, 581.)
  99. Theatrical Stage Employes’ International Alliance.
  100. The Steel Plate Transferers’ Association.
  101. International Stereotypers and Electrotypers’ Union.
  102. Stone Cutters’ Association. († VII, 201.)
  103. Stove Mounters’ International Union. († VII, 860.)
  104. Switchmen’s Union of North America.
  105. *Journeymen Tailors’ Union.
  106. International Brotherhood of Teamsters.
  107. United Textile Workers. († VII, 343.)
  108. International Ceramic, Mosaic and Encaustic Tile Layers and Helpers’ Union.
  109. Tin Plate Workers’ Protective Association.
  110. International Brotherhood of Tip Printers.
  111. *Tobacco Workers’ International Union.
  112. International Union of Travellers’ Goods and Leather Novelty Workers.
  113. *International Typographical Union. († VII, 268.)
  114. Upholsterers’ International Union.
  115. Elastic Goring Weavers’ Amalgamated Association.
  116. American Wire Weavers’ Protective Association.
  117. International Brotherhood of Woodsmen and Saw Mill Workers.
  118. International Union of Amalgamated Wood Workers.
  119. *Brotherhood of Locomotive Engineers. († XVII, 821.)
  120. *Order of Railway Conductors of America. († XVII, 821.)
  121. *Brotherhood of Locomotive Firemen. († XVII, 821.)
  122. Brotherhood of Railroad Trainmen. († XVII, 821.)
  123. Brotherhood of Railway Trackmen.

            The constitutions of most of the Trades Unions for the United States will be found in Vol. XVII, Reports, U. S. Industrial Commission. Similar data for Great Britain is in the Appendix to “Foreign Reports, Vols. 1-2,” Royal Commission on Labour, pp. 15-324. [Volume I, United States; Volume II, Colonies and Indian Empire] [Both reserved in Gore Hall.] For early history of British Unions consult Reports, Royal Commission on Organization and Rules of Trades Unions, 1867-69; Parl. Papers, 1867, Vol. XXXII; 1867-68, Vol. XXXIX; 1868-69, Vol. XXXI. The Annual Report on Trade Unions by the Labour Department of the Board of Trade also contains up-to-date material on English conditions. Additional evidence as to labor conditions in each industry will be found in Vols. VIIVIIIXIIXIV, and XVII, U. S. Industrial Commission (consult Digest and Index in each volume); in the 11th Special Report, U.S. Bureau of Labor, on Restriction of Output; in the annual reports of the state bureaus of labor of New York, New Jersey, Massachusetts, etc. [See index under Unions in Special Index published by the U.S. Department of Labor; and in the Reports of the British Royal Commission.] The student should also consult Charles Booth’s Life and Labor of the People;

[(Original) Volume I, East London; (Original) Volume II, London; (Original) Appendix to Volume II; Note: the previous three original volumes were re-printed as four volumes that then were followed by Volume V, Population Classified by Trades; Volume VI, Population Classified by Trades (cont.); Volume VII, Population Classified by Trades; Volume VIII, Population Classified by Trades (cont.); Volume IX, Comparisons, Survey and Conclusions];

Webbs’, Industrial Democracy and History of Trade Unionism; and other books reserved in Gore Hall.

            Data respecting the various unions among railroad employees in the United States will be found in a separate section on Railway Labor, in Vol. XVII, U. S. Industrial Commission: as also in Vols. IV and IX. (See Digests and Indexes.)

            In cases where the American Trade Union journal is not in the library, the student will be expected to procure at least one copy from the Secretary of the Union. [See list of post office addresses posted with the enrolment slip.] These are to be filed with the report.

→ Exact references by title, volume and page must be given in foot-notes for all facts cited. This condition is absolutely imperative. Failure to comply with it will vitiate the entire report.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 1, Folder “Economics, 1905-1906”.

__________________________

HARVARD UNIVERSITY

ECONOMICS 9a

ASSIGNMENT OF REPORTS

            → Exact references by title, volume and page must be given in footnotes for all facts cited. This condition is absolutely imperative. Without such foot-notes the report will be rejected. General references listed separately are of no value.

Group F

            Students will prepare a connected and logical statement of the course of a labor dispute, as indicated by number on the appended list. The particular year being given in this reference, proceed at first to fix the date of beginning and close of the contest. Poole’s Index of Periodicals should be carefully searched for references. Note, however, that the more serious studies do not appear until a year or two after the event. A Select List of Books (and periodicals) on Strikes, published by the Library of Congress in 1903, may conveniently be used. The World Almanac often contains data worthy of consideration. Rely upon the Economic journals, where possible, but always seek many different authorities. The various reports of state Bureaus of Labor, which might take cognizance of the strike, should also be examined. Newspapers, to be found at the Boston Public Library, are useful; but statements therein should be carefully weighed. Clearly distinguish among other things: the cause of the strike; the policy of workmen and employers in its conduct; legal processes invoked; and the results to both parties. Summarize your conclusions succinctly at the end.

  1. Pennsylvania Railroad, 1877.
  2. Chicago Printers, 1880.
  3. Railway Telegraphers, 1883.
  4. Southwestern Railways, 1886.
  5. Anthracite Coal Miners, 1887-88.
  6. Homestead Strike, 1890.
  7. Spring Valley, 1890.
  8. Chicago, Burlington & Quincy Railroad, 1891.
  9. Cripple Creek, 1893.
  10. Anthracite Coal Miners, 1893-94.
  11. Northern Pacific Railway, 1894.
  12. Pullman Strike, 1894.
  13. The Army of the Commonweal, 1894.
  14. New York Tailors, 1895.
  15. Bituminous Coal Miners, 1897.
  16. Marlboro, Mass., 1898-99.
  17. Chicago Building Trades, 1900.
  18. New York Cigar Makers, 1900.
  19. Anthracite Coal Workers, 1900.
  20. Steel Workers, 1901.
  21. Louis Street Railway, 1901.
  22. Boston Teamsters, 1901.
  23. Machinists Strike, 1901.
  24. Anthracite Coal Miners, 1902.
  25. Boston Brewery Workmen, 1902.
  26. Pawtucket Weavers, 1902.
  27. New York Building Trades, 1903.
  28. Colorado Miners, 1903-04.
  29. New York Garment Workers, 1903-04.
  30. New York Subway, 1904-05.
  31. Fall River Cotton Mills, 1904-05.
  32. Chicago Butchers, 1904

[Note: nothing listed between items 32 and 51]

  1. London Docks, 1889.
  2. Scottish Railways, 1891.
  3. English Coal Miners, 1893.
  4. Lancashire Cotton Mills, 1900.
  5. English Coal Miners, 1901.
  6. French Coal Miners [Carmaux], 1902.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 1, Folder “Economics, 1905-1906”.

__________________________

ECONOMICS 9a
Final Examination, 1905-06

  1. Criticise Compulsory Insurance Acts from the distinct points of view of (1) thrift, (2) efficiency, and (3) morality, stating the nature of the evidence in each case.
  2. In what domains of social legislation are the following countries more advanced than the United States: (a) Great Britain, (b) the colony of Victoria, (c) the colony of New Zealand, (d) Germany? In what branches of such legislation does the United States surpass Buropean countries? [Answer by merely naming, without descriptive matter.]
  3. How do the Australian colonies deal with the non-union man in their labor laws?
  4. Defend the Minimum Wage policy from the workman’s point of view, and state the employers’ objections thereto.
  5. In what kinds of social legislation is the Federal character of our government a serious bar to experimentation? Show clearly the reasons why.
  6. What policies in the matter of apprenticeship on the part of employers do the trades unions seek to thwart by their rules on the subject?
  7. How does an injunction differ from an ordinary rule at law; and why is it so commonly used in labor disputes?
  8. What is a Federal Union as distinct from a Trade Union?

Source: Harvard University Archives. Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), p. 35.

Image Source: Four strikers of the Ladies Tailors union on the picket line during the “Uprising of the 20,000”. Photo dated February 1910. Strike ran from November 1909 to March 1910. From the George Grantham Bain Collection, Library of Congress.

Categories
Economics Programs Wisconsin

Wisconsin. Programmes of Political Economy, Political Science, and History. 1904-1905.

A few posts ago Economics in the Rear-view Mirror added the programme of the Department of Political Economy at the University of Chicago for 1904-05 to its collection of artifacts. The printed copy that I transcribed for Chicago was filed with an analogous publication of the University of Wisconsin from the same year. Both rest quietly in an archival box at Harvard containing records of the Division of History, Government, and Economics (the exact archival coordinates are provided at the end of this post).

Fun Fact: the text-book used for the graduate course on modern economic theory in 1904-05 was Gustav von Schmoller’s Grundriss der Allgemeinen Volkswirtschaftslehre. Erster Teil, (Leipzig, 1900.) Zweiter Teil (Leipzig, 1904). 

__________________

Research Tip

Lampman, Robert J. (ed.). Economists at Wisconsin: 1892-1992. (Madison: University of Wisconsin, Department of Economics) 1993. A total of 380 pages of information on a century’s worth of insruction and research in the department of political economy/economics at the University of Wisconsin.

__________________

University of Wisconsin
1904-1905

POLITICAL ECONOMY, POLITICAL SCIENCE, AND HISTORY.

Contents

Staff of Instruction
General Statement

Outline of Courses:

Political Economy
Political Science
History

Special Training Courses:

Statistics
Practical Sociology
Public Service
Journalism

__________________

Staff of Instruction.

Van Hise, Charles R., Ph.D., LL.D., President of the University.

Birge, Edward A., Ph.D., Sc. D., LL.D., Dean of the College of Letters and Science.

__________________

Commons, John R., A.M., Professor of Political Economy.

Ely, Richard T., Ph.D., LL.D., Professor of Political Economy.

Meyer, Balthasar H., Ph.D., Professor of Institutes of Commerce.

Munro, Dana C., A.M., Professor of European History.

Parkinson, John B., A.M., Vice-President of the University. Professor of Constitutional and International Law.

Reinsch, Paul S., Ph.D., Professor of Political Science.

Scott, William A., Ph.D., Director of the Course in Commerce. Professor of Political Economy.

Turner, Frederick T., Ph.D., Professor of American History.

__________________

Adams, Thomas S., Ph.D., Assistant Professor of Statistics and Economics.

Burchell, D. Earle, Assistant Professor of Accounting and Business Practice.

Coffin, Victor, Ph.D., Assistant Professor of European History.

Fish, Carl R., Ph.D., Assistant Professor of American History.

Sparling, Samuel E., Ph.D., Assistant Professor of Political Science.

Blackmar, Frank W., Ph.D., Professor of Sociology and Economics in the University of Kansas. Lecturer in Economics.

Garrison, George P., Ph.D., Professor of History in Texas University. Lecturer in History.

Thwaites, Reuben G., Secretary and Superintendent of the Wisconsin Historical Society. Lecturer in History.

Woodburn, James A., Ph.D., Professor of American History in Indiana University. Lecturer in American History.

__________________

Lorenz, Max O., A.B., Instructor in Economics.

Phillips, Ulrich B., Ph.D., Instructor in History.

Sellery, George C., Ph.D., Instructor in European History.

Taylor, Henry C., Ph.D., Instructor in Commerce.

Dowd, Jerome, A.M., Resident Lecturer in Sociology.

__________________

Barnett, James D., A.B., Assistant in Political Science.

Lyle, Edith K., M.L., Assistant in History.

Putnam, James W., A.M., Assistant in History.

Tuthill, James E., A.M., Assistant in European History.

__________________

Boggess, Arthur C., A.B., Fellow in History.

Field, Arthur S., A.B., Fellow in Economics.

Gannaway, John W., A.B., Fellow in Political Science.

Scholz, Richard F., A.B., Fellow in History.

__________________

Faber, Charlotte A., A.B., Scholar in Economics.

Hockett, Homer C., B.L., Scholar in History

Lloyd-Jones, Chester, B.L., Scholar in Political Science.

Note, —The above lecturers, assistants, fellows, and scholars are members of the instructional staff for 1903-04. Appointments for 1904-05 have not been made as yet.

__________________

General Statement.

                  The departments of Political Economy, Political Science, and History, though separate in organization, have arranged their work so as to coöperate with each other in a systematic attempt to cover the field of the historical and social sciences The undergraduate and graduate courses are so arranged as to furnish a comprehensive general knowledge of political economy, political science, European and American history.

                  Advanced courses and seminaries for special investigations offer an opportunity for detailed work in these allied subjects without sacrificing any to a hard and fast system. The student is thus given an opportunity to gain a sound knowledge of historical method, to secure training and knowledge in contemporary, social and political activities, and to provide for the comparative and analytical study of institutions.

                  The purpose of the department of Political Economy is to afford superior means for systematic and thorough study in economics and social science. The courses are graded and arranged so as to meet the wants of students in the various stages of their progress, beginning with elementary and proceeding to the most advanced work. They are also designed to meet the needs of different classes of students; as, for instance, those who wish to enter the public service, the professions of law, journalism, the ministry, or teaching, and those who wish to supplement their legal, theological or other professional studies with courses in economics or social science.

                  Capable students are encouraged to undertake original investigations, and assistance is given them in the prosecution of such work through seminaries and the personal guidance of instructors. A large fund has been placed at the disposal of the senior professor of the department to defray the expenses of an exhaustive investigation of the history of labor and allied movements in the United States, and special attention will be given to this field of research for several years.

                  The fundamental purpose of the department of History is to develop in the student the power to use critically and constructively the historical method. Familiarity with history and with the historical method of study is an essential element of a liberal education, promotes more intelligent citizenship, and is important in the special training for such professions as law, journalism, and the civil service. The department offers advanced courses leading to the master’s and doctor’s degrees, and prepares students for the teaching of history and for historical investigation. Numerous elementary and advanced courses are offered in the various fields of European history. Training in original research is given by means of seminaries and by special courses in palacography, diplomatics, historiography, editorial technique, and historical bibliography and criticism. In American history the aim is to give a thoroughly continental treatment to the subject. For the study of the interior and the southern states, exceptional opportunity is at. forded by the unique collections of the State Historical Society of Wisconsin and by special courses on western and southern history. Particular attention is given to the study of the evolution of the various sectional groupings — social, economic, and political — in the history of the United States, and to the physiographic factors in American development.

Libraries.

                  The libraries at Madison, all of which are at the service of members of the University, are five in number, viz., the Library of the University of Wisconsin, the Library of the State Historical Society of Wisconsin, the Library of the Wisconsin Academy of Sciences, Arts and Letters, the State Law Library, and the Madison Free Public Library. These libraries duplicate books only to supply exceptional demands, and have an effective strength approximately equal to the total number of volumes possessed by them. The total number of bound volumes and pamphlets exceeds 400,000.

                  The first three libraries above named are all housed in the new library building of the State Historical Society on the Lower Campus of the University. This building, erected by the State of Wisconsin at a cost of $620,000, was occupied in the fall of 1900, and affords exceptional facilities in the way of convenient and commodious quarters to University students. In the planning of the building, the special needs of the University were equally consulted. In the south half of the first floor are located three department libraries of the Historical Society, viz., documents, newspaper files, and maps and manuscripts. In the north end of this floor is a series of five fine seminary rooms, allotted to American history, European history, economics, political science, and mathematics. The greater part of the second or main floor is occupied by the general reading room and the periodical room, which are used in common by the two libraries. In these two reading rooms 275 readers may find ample accommodation at one time. In open cases in the reading room are shelved several thousand reference and “reserved” books. To these, as well as to the large collection of general and engineering periodicals in the adjoining periodical room, all readers have direct access. The main portion of both libraries is stored in the stack wing adjoining the delivery room on the west. Officers of the University have direct access to the shelves in all parts of the library, and students engaged in advanced work, upon recommendation of their instructors, are allowed access to those parts of the collection dealing with their special subjects.

                  In general, the library of the University of Wisconsin aims to be uniformly developed in all fields, but appropriations and gifts in recent years have rendered it especially strong in the lines of European history, economics, political science, and in Germanic and classical philology. During the academic year 1900-1901, the library received two notable gifts, one of $2,000 from three Milwaukee citizens for the purchase of books for the Course in Commerce, and the other of $2,645, contributed by friends of the University in New York City, Milwaukee, and elsewhere, to the departments of Economics and Political Science for the development of the library in those fields. These gifts have greatly increased the library facilities of the two schools mentioned. In December, 1901, the late President Charles Kendall Adams presented to the University his fine private library of 2,000 volumes, especially rich in material on European history. A gift of $500 from Mr. Frederick Vogel, of Milwaukee, in 1902, has been expended for a collection of 600 volumes in the field of political science and modern French legislative history.

                  The library of the State Historical Society is remarkably rich in manuscript and other material for the study of the history of the Mississippi valley. The collections of the late Dr. Lyman C. Draper are included in the library. These manuscripts are particularly useful for the study of the interior of Virginia, the Carolinas, and Georgia, and of Kentucky, Tennessee, and the Old Northwest. The Society files of newspapers, periodicals and the publications of historical societies are among the most complete in the United States. There is an unusually complete collection of published colonial records and the United States government documents, and the material for the study of American state and local history, western travel, the revolution, slavery, and the civil war, is abundant. Among the sources of English history, the Library possesses the Calendars of State Papers, the Rolls Series, the publications of the Records and Historical Manuscripts Commissions, as well as the journals and debates of Parliament, of almost all the important historical societies, and many works of local history. The Tank collection (Dutch) offers special resources for the study of the Netherlands.

                  More than 500 periodicals are regularly received. The University possesses complete sets of the most important historical, economic, political, and philological journals, and the current publications enable the students to follow the most recent investigations in the various sciences in Europe and America.

                  The State Law Library, of 32,500 volumes, and the especial library of the University College of Law, of 4,000 volumes, furnish an ample law library.

Graduate Work.

                  The graduate work in these departments may lead to the master’s degree in not less than one year, and to the doctor’s degree in not less than three years. Among the subjects offered, any one of the following may constitute a major in the work for a higher degree:

                  Political economy, political science, sociology, European history, or American history.

                  Any one of the following may constitute a minor:

                  Political economy, political science, sociology, statistics, jurisprudence (including public law and historical jurisprudence), administration, European history, or American history.

                  Candidates for the degree of Doctor of Philosophy are required to present in their principal subject the equivalent of at least two full graduate courses during three years; in their first subordinate the equivalent of at least one such course during two years; and in their second subordinate the equivalent of at least one such course during one year.

                  Candidates for the master’s degree must present in their principal subject the equivalent of at least two full graduate courses during one year; and in their subordinate subject the equivalent of at least one such course.

                  Special attention is here called to the fact that graduates who are pursuing the law course may prepare to take their master’s degree at the same time with the degree in law by completing the equivalent of two full studies during one year’s work. Graduates of the College of Law are encouraged to devote an additional year to broadening out their training in economics, polities, and jurisprudence.

                  The University offers each year fourteen fellowships of the annual value of $400, and honorary fellowships and scholarships whose holders are exempt from the payment of fees. One of the University fellowships is permanently assigned to American history, one to European history, and two to economics and political science; applications should be in the hands of the President of the University before May 1. There are also established by the University ten graduate scholarships, two of which are assigned to economics and political science, and one each to American and to European history. They represent an annual value of $225 each; the student pays an incidental fee of ten dollars per semester. For further information concerning the qualifications and duties of fellows see the University Catalogue for 1903-04, or the announcement of the Graduate School.

__________________

OUTLINE OF COURSES.

Department of Political Economy.

Professor Ely, Professor Scott, Professor Meyer,
Professor Commons, Assistant Professor Adams,
Assistant Professor Burchell, Dr. Brauer,
Mr. Dowd, Mr. Lorenz, and Dr. Taylor.
Special lecturers: Professor
Blackmar, Mr. Hunter,
and Dr. Rosewater.

                  The work of this department has the following distinct but related aims:

  1. To provide instruction in economics and sociology for undergraduates in all the courses of the University.
  2. To provide advanced and graduate work in the studies falling within its field.
  3. To assist and encourage the development of these studies.
  4. With the coöperation of other departments, to provide special training courses for various practical pursuits.
  5. To supplement the work of the College of Law.

                  The requirements for an undergraduate major, in addition to the thesis are twenty-one semester hours as a minimum, selected in part from the introductory courses and in part from the advanced courses.

Primarily for Undergraduates.

  1. The Elements of Economic Science. A general survey based upon the study and discussion of a text-book, supplemented by lectures, assigned reading, and exercises. Required of sophomores in the Course in Commerce and of all students beginning the subject of economies. Repeated each semester; M., W., F., at 8, 9, and 10. Mr. Lorenz.
  2. The Elements of Sociology. A study of primitive man, followed by an investigation of the phenomena of civilized societies, leading up to a statement of the general principles of social evolution. First semester; M., W., F., at 10. Mr. Dowd.
  3. Elements of Public Finance. An introductory study of the general principles of public expenditure, public revenue, public indebtedness, and financial administration. First semester; M., W., F., at 9. Assistant Professor Adams.
  4. Agricultural Economics. This course is designed for short-course students in the College of Agriculture. Twelve lectures: December and January; Tu, Th., at Dr. Taylor.
  5. The Elements of Money and Banking. An introductory course, repeated each semester. In the first semester the course will be adapted to the needs of those who expect to continue the subject. In the second semester the needs of those who do not expect to specialize in banking and finance will be chiefly consulted. First semester; M., W., F., at 8; second semester at 9. Professor Scott.
  6. The Economic Functions of the State. This course has special reference to pharmacy. One lecture a week; first semester. Professor Meyer.
  7. Economic Geography. A general survey of the resources, industries, and commerce of the chief countries of the world, followed by a special study of the production and distribution of the staple articles of commerce, with special reference to the foreign trade of the United States. Throughout the year; M., W., F., at 8 and 9. Dr. Taylor.
  8. Business Administration. In this course students are given thorough instruction in bookkeeping, accounting, auditing, and the various other branches of business administration. The work is graded and arranged in three groups, adapted respectively to the attainments of sophomores, juniors, and seniors. In each group a careful study is made of office equipment, business relations, and administrative duties by means of lectures, text-books, and outside reading in trade journals, and this is followed by laboratory practice, each student being appointed to various positions, and promoted through the various branches of administrative work in merchandizing, manufacturing, banking and transportation.
    1. Sophomore Year. The work of this year centers in business forms and correspondence, bookkeeping, and clerical duties.
    2. Junior Year. The special feature of the work of this year is the study of legal forms, credit instruments, funding operations, accounting, and executive duties.
    3. Senior Year. During this year emphasis is placed upon the work of supervision and auditing, especially in connection with passenger transportation, light and power companies, savings institutions, insurance, jobbing, the commission business, brokerage, importing and exporting. Throughout three years; two hours a week. Assistant Professor Burchell.
  9. Commercial Law. The law of contracts, commercial paper, agency, partnership, corporations, sales, bailments, and insurance, treated from the point of view of the business man rather than the lawyer. Three times a week throughout the year. Dr. Brauer.
  1. Senior Seminaries for Thesis Students. Professor Meyer, Professor Scott, Assistant Professor Adams, and Dr. Taylor.

For Graduates and Undergraduates.

  1. Industrial Evolution and its Problems. A general survey of industrial development followed by an examination of special problems such as competition, monopolies and trusts, concentration of wealth, municipal ownership, the inheritance of property, etc. First semester; Tu., Th., at 10. Professor Ely.
  2. History of Economic Thought. The principal topics will be the following: the history of economic thought in classic antiquity; its subsequent development to the time of the mercantilists; the rise and growth of economics as a distinct branch of social science, with a brief discussion of existing schools of economic thought. Second semester; Tu., Th., at 10. Professor Ely.
  3. Modern Socialism. A study of the socialist movement during the nineteenth century, and an examination of the theories of those writers who are usually called socialists. First semester; Tu., Th., at 9. Mr. Lorenz.
  4. Economic Problems. This course is devoted principally to the important labor problems of the day: strikes, trades-unions, employers’ associations, arbitration, immigration, child labor, etc. Second semester; M., W., F., at 9. Assistant Professor Adams.
  5. Problems in Taxation. Comprehends the more concrete problems of the day: mortgage, railroad, insurance, and double taxation, the personal property and inheritance taxes, etc. May be taken by those who have not had course 3. Second semester; M., W., F., at 10. Assistant Professor Adams.
  6. Labor Legislation. Comprehends a study of the labor law of the United States and foreign countries, the practical working of important statutes, and the sphere and function of the labor law in general. First semester; M., W., F., at 10. Assistant Professor Adams.
  7. The Elements of Agricultural Economics. This course treats of the economic principles which underlie the prosperity of the farmer, and of all other classes so far as they are dependent upon agriculture. The subject is divided into two parts. In part one the point of view is that of the farmer, and in part two that of the nation as a whole. First semester; Tu., Th., at 12. Dr. Taylor.
  8. Historical and Comparative Agriculture. This course consists of lectures and assigned readings on the agriculture of the Romans; on the development of agriculture in England and the United States, and on the present status of agriculture in the most important countries, with an attempt to find the explanation of historical changes and geographical differences. Second semester; Tu., Th., at 12. Dr. Taylor.
  9. Agricultural Industries. An investigative course for seniors in the commercial and agricultural courses, and for other advanced students. Second semester; at hours to be arranged. Dr. Taylor
  10. Manufacturing Industries. An investigative course for seniors in the Course in Commerce, and for other advanced students. First semester; at hours to be arranged. Dr. Taylor.
  11. Social Statistics. Includes a study of vital statistics, suicide, crime, pauperism, etc. In this and the following course the laboratory method is followed. Students are required to do a thorough piece of statistical investigation under the immediate guidance of an instructor. This course is specially recommended to students taking thesis work in economics. Two lectures and two hours’ laboratory work a week, for which a credit of three-fifths is given. First semester; Tu., Th., at 12, and M. from 2 to4. Assistant Professor Adams and Mr. Lorenz.
  12. Economic Statistics. Prices, wages, family budgets, labor and financial statistics will be studied. Second semester; Tu., Th., at 12, and M. from 2 to 4. Assistant Professor Adams and Mr. Lorenz.
  13. Government Statistics. A course on public statistical bureaus: their organization, methods, and publications. Second semester; Tu., Th., at 11. Assistant Professor Adams.
  14. Currency History. A systematic presentation of the currency of England, France, Germany, and the United States. Special attention will be given to the history of bimetallism, to the development of the banking system of these countries, and to the chief monetary problems which have arisen in these nations, and the methods which were employed in their solution. An elementary knowledge of money and banking is needed as a preparation for this course. Second semester; M., W., F., at 8. Professor Scott.
  15. Corporation Finance and Securities. A study of the methods of financiering employed in great corporations, with special reference to the various sorts of negotiable securities which they issue, and the circumstances which affect their value. The course includes a study of the stock and produce exchanges, and of their relations to the business of banking. Open to students who have had Money and Banking. Lectures and assigned reading. First semester; Tu., Th., at 12. Professor Meyer.
  16. Transportation and Communication. This is a general introductory course dealing with the most important principles and facts relating to railways, waterways, and the express, telephone, telegraph, and post office services. Repeated each semester; M., W., F., at 9. Professor Meyer.
  17. Special Problems in Transportation. This is an advanced course in which the more important special transportation problems are discussed in detail. Each student pursues an independent line of investigation. Lectures and reports. Open to students who have had course 35 or its equivalent. Second semester; Tu., Th., at 9. Professor Meyer.
  18. Foreign Systems of Railways. This course embraces a study of the railways of the leading countries of the world, historically and economically. Each student may select the railways of a particular country, or read systematically in connection with the lectures on railways in different countries. Open to students who have had course 35 or its equivalent. Second semester; Tu., Th., at 8. Professor Meyer.
  19. This course deals with the general principles of the different forms of personal and property insurance and the main problems connected with each. Lectures and reading. Open to students who have had the Elements of Economic Science. First semester; Tu., Th., at 11. Professor Meyer.
  20. Modern Sociological Thought. A survey of sociological writers, beginning with Bodin and including the principal writers down to Gumplowiez, Schäffle, Giddings, and Small. First semester; M., W., F., at 8. Mr. Dowd.
  21. Charities and Corrections. This course embraces first, a study of the dependent class, with special reference to the slum conditions in London, New York, Chicago, and Philadelphia; second, the defective class and the institutional treatment of this class; the delinquent class, causes and prevention of crime, prison management and discipline. Reformatories and other public institutions will be visited. First semester; M., W., F., at 11. Mr. Dowd.
  22. Public and Private Charity. A comparative study of poor relief in the United States, England, and the principal continental countries. Second semester; M., W., F., at 11. (Omitted in 1905.) Mr. Dowd.
  23. Charity Organizations. A study of poverty in American cities, with special reference to the work of charity organization societies. Second semester; Tu., Th., at 9. (Omitted in 1905.) Mr. Dowd.
  24. Field Work. Students are encouraged to study charitable and correctional institutions in Madison and the vicinity, and opportunity is afforded for continuous work elsewhere during the summer months. During the past years students from the University have engaged in field work, and several of these students have taken up work of this kind as a career. It is believed that this method of continuous study, followed by field work, yields the best results. It is the aim of this department to furnish secretaries of charity organization societies, and other trained workers.

Primarily for Graduates.

  1. Economic History. A study of the development of economic institutions and economic doctrines, and of their influence upon each other and upon the other phases of social life. The period 1776 to 1850 will be studied in 1904-05. An investigative course for advanced students and graduates. Two sessions a week, at hours to be arranged. Credited as a full study. Professor Scott.
  2. Modern Economic Theory. Designed to give students some acquaintance with recent movements in economic theory, and practice in reading German texts. As a point of departure and contrast Schmoller’s Grundriss der Allgemeinen Volkswirtschaftslehre will be used as a text. Second semester; Tu., Th., at 9. Assistant Professor Adams.
  3. The Distribution of Wealth. Part I. This course deals chiefly with the fundamental institutions in the existing social order and their relation to the present distribution of wealth. The principal topics discussed are: private property, contract and its conditions, vested interests, custom, competition, monopoly, authority, and the caritative principle. First semester; M., W., Th., from 2:30 to 4:00. Professor Ely.
  4. Distribution of Wealth. Part II. This course deals with the shares of the various factors in distribution, viz.: rent[,] interests, profits, and wages. May be taken by those who have not had Part I, course 52. First semester; M., W., Th., from 2:30 to 4:00. (Omitted in 1904-05) Professor Ely.
  5. Public Finance. This course deals first with the nature of public finance as a science, and with its history, with the development and working of the public economy, and then proceeds to a discussion of public expenditures and a brief examination of public revenues. Second semester Tu., Th., from2:30 to 4:00. (Omitted in 1904-05.) Professor Ely.
  6. American Public Finance. Part I. The financial history of the United States. A critical and historical discussion of the finances of the federal government. Second semester; Tu., Th., 2:30 to 4:00. Professor Ely.
  7. American Public Finance. Part II. An historical and critical account of the finances of the American commonwealths and local political units. Second semester; Tu., Th., 2:30 to 4:00. (Omitted in 1904-05.) Professor Ely.
  8. The Theory of Taxation. This course covers the general theoretical problems of taxation, equality and uniformity, shifting and incidence, etc. First semester; Tu., Th., at 10. Assistant Professor Adams.
  9. Monopolies and Trusts. This course deals with the theories of monopoly, historically and critically; and examines the tendencies of large-scale business with reference to competition and monopoly. (Omitted in 1904-05.) Professor Ely.
  10. Principles of Transportation. This is a lecture course designed exclusively for graduates who do not desire to specialize in transportation. An endeavor will be made to present the most important facts and principles of railway development as illustrated in the leading countries of the world. Second semester; two-fifths study. (Omitted in 1904-05.) Professor Meyer.
  11. The Psychological Sociologist. This course deals with that group of sociologists who approach sociology from a psychological point of view. First semester; Tu., Th., at 8. (Omitted in 1904-05.) Mr. Dowd.
  12. Seminary in Sociology. Topics in theoretical and practical sociology, selected with reference to the needs and interests of the students, will be investigated. Two hours a week. Mr. Dowd.
  13. Race Elements in American Industry. The unique feature of American industrial and labor problems is the variety of races and nationalities that have participated. In order to prepare a way for the proper understanding of labor history in the United States, this course will include an examination of the industrial qualities of the several races, their capacities as producers, their part in promoting American industrial supremacy, their standards of living, the relative influence of climate, civilization, and heredity on industrial capacities, the sources of immigration, the distribution of races in industries and localities, the competition of races, the influence of industry and labor organizations in the assimilation of races, legislation regulating immigration, etc. The course will be divided into two parts: Part I consisting of lectures, three hours a week; Part II consisting of reports and discussions, two hours a week. First semester; M., Tu., W., Th., F., at 8. Professor Commons.
  14. The History of Labor and Industrial Organization Prior to the Civil War. A survey of labor conditions in colonial times, the beginnings of labor agitations, the origins of labor unions, the communistic, sentimental, and utopian programs and experiments, free labor and slavery, political and civil rights of wage-earners, the rise of manufactures and rapid transportation. This course is divided into two parts like the foregoing. First semester; M., Tu., W., Th., F., at 8. (1905-06.) Professor Commons.
  15. The History of Labor and Industrial Organization since the Civil War. The effects of the Civil War on capital and labor, the rise of the Knights of Labor and the American Federation of Labor, the effects of machinery, inventions, divisions of labor, and large-scale production, the changes in wages, hours of labor, and working conditions, the policies of trade unions, the influence of socialism, radicalism, and conservatism in labor unions, the beginnings of employers’ associations, the concentration of capital, growth of arbitration and trade agreements, and their practical results, labor legislation and judicial decisions, labor and public employment, women’s and children’s work and wages, etc. This course is divided into two parts like the foregoing. First semester; M., Tu., W., Th., F., at 8, (1906-07.) Professor Commons.
  16. Research Course in Labor Problems. This is designed especially for students electing thesis on these subjects. Special attention will be given to thesis work by way of personal and seminary conferences, in which the student will be associated with the instructor in the special investigations of the labor history on which he is engaged. First semester; F., from 2:15 to 4:00. Professor Commons.
  1. Economic Seminary. This is designed for graduate students who wish to carry on special investigations under the guidance which the department affords. A subordinate feature of the seminary work is a review of recent books and important articles published in the periodicals. Tuesday evening, throughout the year, from 7:30 to 9:30. Professor Ely, Professor Commons, Professor Meyer, Assistant Professor Adams, Mr. Dowd, Mr. Lorenz, and Dr. Taylor.

__________________

Department of Political Science.

Professor Parkinson, Professor Reinsch,
Assistant Professor Sparling, and Mr. Barnett.

Arrangement of Courses.

                  The introductory courses are open for election in the sophomore and junior years. As a rule, at least five semester hours of this work should be done before electing any of the advanced courses. The advanced courses are open for election by juniors, seniors, and graduates. Sophomores of advanced standing may make arrangements to take some of these courses (courses 12, 15, and 20). The requirements for an undergraduate major in political science, in addition to the thesis are twenty-one semester hours as a minimum.

Primarily for Undergraduates.

  1. Elements of Political Science. A general survey of the field of political science. First semester; M., W., F., at 8. Assistant Professor Sparling.
  2. Elementary Law. The nature and sources of law, and the methods of its application. First semester; Tu, Th., at 8; M., at 3. Mr. Barnett.
  3. Elements of Administration. The theory of administration, and a survey of the administrative systems of the chief states of modern Europe, and of the United States. First semester; Tu., Th., at 8. Assistant Professor Sparling.
  4. The Constitution of the United States. An outline course of lectures designed, primarily for those who cannot give more time to this subject, but which may be taken with profit in connection with any of the longer courses in constitutional law. Second semester; F., at 10. Professor Parkinson.
  1. Administrative Problems. A survey of the primary administrative activities of the chief states of Europe and the United States. Second semester; Tu., Th., at 8. Assistant Professor Sparling.
  2. Government and Politics in the United States. A general study of the American system of government in its local, state, and federal organs, and their relations to each other, as well as of the methods of political action. Second semester; M., W., F., at 8. Professor Reinsch.

For Undergraduates and Graduates.

  1. Roman Law. a. History of the development of Roman law from the Twelve Tables to the Corpus Juris of Justinian. b. Institutes of Roman law. These divisions are given alternately. First semester; M., W., at 12. Professor Reinsch.
  2. History of English and American Law. Second semester; M., W., at 12. (Omitted in 1905.) Professor Reinsch.
  3. Jurisprudence. Analysis of the main concepts of the science of law on the basis of the juristic classics. Open to students who have had an elementary course in law. Second semester; Tu., Th., at 12. Mr. Barnett.
  4. Constitutional Law. A short course of lectures on the English constitution, followed by a detailed study of the constitution of the United States. Throughout the year; M., W., F., at 9. Professor Parkinson.
  5. Constitutional Law. Designed to follow, or at least to supplement, course 12, with emphasis upon the study of cases; may be taken independently by those of suitable preparation. Open only to graduates and other advanced students. Throughout the year; Tu., Th., at 9. Professor Parkinson.
  6. Seminary in Constitutional Law. A comparative study of the essential features of the leading constitutions of the world. Open to graduates, and to seniors who have had courses 12 and 13, or their equivalent. Second semester; M., W., at 10. Professor Parkinson.
  7. Municipal Government in Europe and the United States. Second semester; M., W., F., at 8. Assistant Professor Sparling.
  8. State Administration. A study of the local and state administrative systems of the United States. First semester; Tu., Th., at 9. Assistant Professor Sparling.
  9. American Administrative Law. This course has in view the needs of the legal profession. Second semester; Tu., Th., at 11. Assistant Professor Sparling.
  10. International Law. First semester; M., W., F., at 10. Professor Parkinson.
  11. Seminary in International Law. Emphasis will be placed upon diplomatic relations, treaties, the rights and obligations of neutrals, and the methods of settling international disputes without resort to war. Open to graduates, and also to others who have had course 18. Second semester; M., W., at 10. (Omitted in 1905.) Professor Parkinson.
  12. Contemporary International Politics. In 1905 the oriental situation will be the special subject of this course. Second semester; M., W., F., at 10. Professor Reinsch.
    In connection with the above course a series of public lectures on problems of international politics will be given.
  13. Colonial Politics. A study of the principal systems of colonial government. First semester; M., W., F., at 10. Professor Reinsch.
  14. Party Government. Special attention will be given to party organization and the methods of legislative bodies. First semester; Tu., Th., at 11. Assistant Professor Sparling.
  15. Federal Administration. A study of the organization and functions of the different branches of our federal service. Second semester; Tu., Th., at 9. Assistant Professor Sparling.
  1. The Law of the Press. The law of copyright, literary property, libel, privileged publications, and other topics relating to the publication of books and newspapers. Designed especially for students preparing for journalism and the law. Second semester; M., at 3. (Omitted in 1905.) Professor Reinsch.

Primarily for Graduates.*

  1. History of Political Thought. The development of political philosophy from the Greeks to the present time, and its connection with political history. (May be taken by seniors of suitable preparation.) First semester; M., W., F., at 11. Professor Reinsch.
  2. Philosophy of the State. A critical study of contemporary political thought and terminology. May be elected by seniors who take their major in political science. Second semester; M., W., at 11. Professor Reinsch.
  3. Juristic Classics. In 1906: Reading of Gaius, with commentaries. Second semester; M., W., at 11. Professor Reinsch.
  1. Seminary in Administration. Some important phases of state administration will be studied. Two hours throughout the year. Assistant Professor Sparling.
  2. Seminary in Politics. For 1904-05: Parliamentary institutions of the present time. A study of parliamentary procedure, legislation, and party development in Germany and Italy during the last quarter century. Throughout the year; W., 7:30 to 9:30. Professor Reinsch.

*Studies given under the heading, “For Undergraduates and Graduates,” may also be taken as graduate work, but in this case special reading will be assigned by the instructor in addition to that required of undergraduate students.

__________________

Department of History.

Professor Turner, Professor Munro,
Assistant Professor Coffin, Assistant Professor Fish,
Dr. Tilton, Dr. Sellery, Dr. Phillips, and Assistants.

Arrangement of Courses.

                  The courses in history are divided into three groups, as follows:

A. Introductory courses 1 to 9 are primarily for undergraduates, and are planned to afford a comprehensive survey of the general field of history. They cannot be counted toward advanced degrees, and graduates are required to have completed an equivalent of sixteen semester hours of these studies as a preparation for graduate work for a degree. It will be noted that a substantial historical basis can be laid for advanced work by such an election as the following: freshman year, Medieval (course 1) and Colonial (course 3) or English (course 6); sophomore year, Modern (course 2) and United States (course 4). The study of Greek and Roman history (courses 8 and 9) is particularly recommended to those who may intend to teach history. It is not recommended that students shall cover all of the introductory courses to the neglect of advanced work.

B. Advanced courses 11 to 45 are designed to continue the work begun in the preliminary courses in the direction of greater specialization. These courses are open to undergraduates and graduates who have taken the necessary preliminary work.

C. Graduate courses 51 to 60 are not open to undergraduates. They consist of courses in the technique of history, and seminaries in American, Medieval, and Modern history, in which the subject of study changes from year to year.

History Major.

                  The requirements for an undergraduate major in history, in addition to the thesis, are twenty-six semester hours as a minimum, selected as follows:

I. One or more introductory courses in both European and American history.

II. Advanced courses to the amount of at least ten semester hours.

For Undergraduates.

  1. Medieval History. A general survey of the history of continental Europe from the barbarian invasions to the close of the fifteenth century. Advanced students will be given special quiz sections and more advanced work. Throughout the year; M., W., at 11, for lectures, and a third hour in sections. Professor Munro, Dr. Tilton, Dr. Sellery, and assistants.
  2. Modern European History. A general survey extending from the close of the fifteenth century to the present day. Not open to freshmen. Throughout the year; Tu., Th., at 11, and a third hour in sections. First semester, Dr. Sellery; second semester, Assistant Professor Coffin.
  3. American Colonial and Revolutionary History. An introduction to the history of the United States, designed to acquaint the student with the beginnings of American institutions. Text-book, lectures, and topics. The class meets in divisions. Throughout the year; Tu., Th., at 9 and 10. Assistant Professor Fish and Dr. Phillips.
  4. History of the United States. A general survey from the Revolutionary era to the present, with emphasis upon political history. Lectures, text-book, collateral reading, and topics. Not open to first year students. This course, or an equivalent, must precede all advanced courses in American history.
    4a. To the presidency of Jackson. First semester; M., W., F., at 11. Assistant Professor Fish.
    4b. From the presidency of Jackson to the present. Second semester; M., W., F., at 11. Assistant Professor Fish.
  5. English History. A general survey with especial reference to economic and social conditions. Text-book, lectures, and topics. Throughout the year; M., W., F., at 9 and 11. Dr. Tilton and Dr. Sellery.
  6. English History. A course with especial reference to social and political conditions, useful for students of English literature, and recommended to those who expect to teach history. Students are not permitted to elect both courses 5 and 6. Throughout the year; Tu, Th., at 9. Assistant Professor Coffin, Dr. Tilton, Dr. Sellery, and Dr. Phillips.
  7. History of Europe in the Nineteenth Century, 1815-1900. Designed for freshmen in the Course in Commerce. Throughout the year; M., W., F., at 11. Assistant Professor Coffin.
  8. Ancient and Greek History. A brief outline of primitive and oriental history and a general course in Greek history. Recommended to all who expect to teach history. First semester; Tu., Th., F., at 11. (Omitted in 1904-05.) Professor Munro and Dr. Tilton.
  9. Roman History. A general survey with especial emphasis on the period of the later Republic and Early Empire. Recommended to all who expect to teach history. Second semester; Tu., Th., F., at 11. (Omitted in 1904-05.) Professor Munro and assistants.

For Undergraduates and Graduates.

  1. The History of the West. Particular attention is paid to the conditions of westward migration and to the economic, political and social aspects of the occupation of the various physiographic provinces of the United States, together with the results upon national development. Lectures, collateral reading, and topics. Throughout the year; M., W., F., at 12. Professor Turner.
  2. History of the South. The course deals with the period since the Revolution, and especial attention is given to the economic and social forces involved in the plantation system, slavery, and the occupation of the Gulf Plains, as a basis for understanding the political history of the South and its place in national history. Throughout the year; Tu., Th. at 3. Dr. Phillips.
  3. History of New England. Special attention will be paid to the colonial period, and to New England expansion. Second semester; M., W., F., at 2. (Omitted in 1904-05.) Assistant Professor Fish.
  4. Economic and Social History of the United States. Designed to treat economic topics in relation to the general movement of national history. Throughout the year; M., W., F., at 12. (Omitted in 1904-05.) Professor Turner.
  5. Diplomatic History of the United States. An historical survey of our foreign relations from the Revolution to the present time. Throughout the year; Tu., Th., at 10. Assistant Professor Fish.
  6. Constitutional and Political History of the United States from the Confederation to the Presidency of Jefferson. First semester; M., W., at 2:15. (Omitted in 1904-05.)
  7. Undergraduate Seminary in American History. Designed to train undergraduates in the use of sources, by studying different problems in different years. The period since the Civil War will probably furnish the field for 1904-05. Elective by semesters to students who have had course 4 or its equivalent. M., W., at 2:15. Assistant Professor Fish.
  1. Roman Imperial Institutions. A study of the organization and government of the Empire, especially in the second century A.D. First semester; Tu., Th, at 10. (Omitted in 1904-05.) Professor Munro.
  1. Medieval Civilization. Designed to supplement course 1 by a more special study of the social and intellectual life of the Middle Ages. First semester; Tu., Th., at 10. Professor Munro.
  2. Feudal Institutions. Tu., Th., at 10. Open to graduate students and seniors of suitable preparation. (Omitted in 1904-05.) Professor Munro.
  3. Constitutional History of the Middle Ages. A comparative study of the governments in Germany and France, especially during the twelfth and thirteenth centuries. Open to graduate students and seniors of suitable preparation. Second semester; Tu., Th., at 10. Professor Munro.
  1. Period of the Renaissance. An investigation of the chief political problems in the epoch of the foundation of the great European states, 1300-1500. Open to juniors and seniors who have had course 1 or an equivalent. First semester; Tu., Th., at 11. Dr. Sellery.
  2. Age of Louis XIV. A study of the development of the absolute monarchy in continental Europe. Open to juniors and seniors who have had course 1 or 2, or an equivalent. Second semester; Tu., Th., at 11. Dr Sellery.
  1. The French Revolutionary and Napoleonic Periods, 1789-1814. Open to those who have had course 2 or its equivalent. Throughout the year; M., W., F., at 10. (Not offered in 1904-05.) Assistant Professor Coffin.
  2. History of Europe in the Nineteenth Century, 1815-1900. Open to those who have had course 2 or its equivalent. The work will be devoted especially to tracing in this period the influence of the French revolutionary ideas in the development of social and political institutions. First semester; M., W., F., at 10. Assistant Professor Coffin.
  1. Constitutional History of England. A study of the growth of English institutions. Throughout the year; Tu., Th., at 12. Open to juniors and seniors who have had course 5 or 6. First semester, Dr. Tilton; second semester, Assistant Professor Coffin.
  2. Economic and Social History of England, 1300-1600. A summary of English civilization in the thirteenth century and a view of the chief economic and intellectual changes from medieval to modern civilization. Open only to students who have had course 1, 5, or 6. Second semester; Tu., Th., at 9. Dr. Tilton.
  1. The Development of Modern Prussia, 1640-1871. This course is intended to explain the development of the Prussian state and trace the Prussianizing of modern Germany. Open to those who have had course 2. First semester; Tu., Th., at 12. Assistant Professor Coffin.
  1. Methods of History Teaching, with special reference to the work of secondary schools. For seniors of suitable preparation and graduates. Throughout the year; F., at 3. Professors Turner and Munro.

For Graduates.

  1. Historical Bibliography. An account of the present state of the materials for historical research, and an examination of the bibliographical tools most essential to the special study of history. First semester; W., at 10. (Omitted in 1904-05.) Professor Munro.
  2. Historical Criticism. An introductory survey of the principal problems of historical method, accompanied by practical exercises. Second semester; W., at 10. Given in alternate years. Professor Munro.
  3. Paleography and Diplomatics. (a) Elements of paleography, with practical exercises in the reading of manuscript facsimiles; (b) Elementary exercises in diplomatics. The first part of the course is identical with the first part of course 18 in Latin, and is arranged for the benefit of advanced students of language as well as for students of history. Second semester; F., 9 to 11. Given in alternate years. Professor Munro.
  1. Seminary in Medieval History. In 1904-05 the First Crusade is studied by special topics, illustrating the causes, the relations of the chiefs with the Greek emperor, and the social conditions in the Latin Kingdom of Jerusalem. Th., 4 to 6. Professor Munro.
  2. Seminary in Modern European History. The work will center about the diplomatic revolution of 1756. Throughout the year; S., 11 to 1. Assistant Professor Coffin.
  3. Seminary in American History. For 1904-05, the seminary will study the history of Monroe’s administration. Throughout the year; three hours a week in two sessions. Professor Turner.
  1. Historical Conference. A fortnightly meeting of the instructors and graduate students of the school for conference and consideration of papers. A considerable portion of the time of the conference is devoted to a coöperative study of the work of important historians, so planned as to give in successive years a general view of modern historiography. Throughout the year; alternate Fridays, 4 to 6.

Special Lectures.

                  Besides the regular courses of class instruction described above, two series of lectures were given each year by scholars from without the University. In 1903-04, the following were delivered:

                  Transcontinental Explorations, with especial reference to Lewis and Clark. Four lectures by Reuben Gold Thwaites, Secretary of the State Historical Society of Wisconsin.

                  The Causes of the Civil War. Four lectures by Professor James A. Woodburn, of Indiana University.

Summer Courses.

                  Elementary and advanced courses in history are offered each year in the Summer Session of the University. For a fuller description see the Summer Session circular, which may be obtained by application to the Registrar of the University.

__________________

Special Training Courses.

Statistics, Practical Sociology, Public Service
and Journalism.

                  In order to offer opportunity for careful and systematic training in practical pursuits, the studies offered by the departments of Political Economy, Political Science, and History, together with a number of allied subjects, have been arranged so as to form four special courses, viz.: in statistics, in practical sociology, in preparation for public service, and in preparation for journalism.

                  The course in statistics will give special training in the use and collection of statistical material, with a view of fitting the student for practical statistical work in connection with public administration or with the business of railway and insurance companies.

                  The course in practical sociology consists of studies in modern social and economics problems, social theory, and practical charity and reform. The class work of the student is to be supplemented by the direct study of social conditions, and reformatory and charitable institutions. The course is primarily intended as a preparation for pastoral work, and the activities connected with organized charity and other ameliorative agencies.

                  The course in public service covers the subjects of politics, administration, diplomacy and modern history. A thorough knowledge of the mechanism and workings of contemporary government is becoming increasingly important with the constantly expanding sphere of political activities. To the training in the general principles of politics and methods of government, there will added in this course specific instruction in the work of the various governmental departments, and the students will be kept informed concerning the various openings for a career in the public service, as well as the requirements and examinations that form a condition for entering thereupon.

                  The course in preparation for journalism does not aim to offer technical instruction in the methods of practical journalism, but to provide a fund of information on social, economic, political, and historical questions, which is indispensable in journalistic work of a high grade.

                  The special training courses cover a period of three years, beginning with the junior year. At the end of the second year the bachelor’s degree is conferred. At the end of the third year the master’s degree. No thesis is required with the latter. Any students in the above courses will be under the special supervision and advice of that member of the instructional force under whom the major part of their work is done. The faculty will keep in close touch with men of experience and representative position in the branches to which these courses relate, and will make use of their aid and suggestions to render the instruction most helpful to the students.

                  Upon the completion of the course of three years the graduate will receive a certificate, stating that he has taken a special course, and indicating to what group of studies he has devoted his attention. No rigid uniformity is required of the students in the matter of selection of their studies. They must, however, select at least ten-fifths a semester from the work recommended, and this work must be taken in the sequence indicated, unless exceptions are made for special cause. Some studies which are absolutely indispensable in a certain course are italicized, and others will be indicated by the special adviser of the student, according to the work for which the latter is pre-paring. Beyond this the students are left free to take electives in other departments.

                  Admission. Students who have completed the sophomore year in any college or university of approved standing are admitted to the special courses, but all such students will be subject to the same conditions as students entering other courses in the junior year. The graduates of any such college or university may arrange to complete any one of the courses in two years. It is presumed that students entering the school have studied ancient, medieval and modern history, as well as the elements of economics and political science. In the absence of such preparation students will be expected to make up their deficiency during the junior year. The language requirements will be adapted to individual needs, but the minimum requirement will be that of the regular course in the College of Letters and Science.

__________________

The Course in Statistics.

[The first numeral following the name of the course indicates the number of hours per week, the Roman numeral the semester.]

Junior.

                  Economic Statistics, 3-II; Social Statistics, 3-I; Analytical Geometry and Calculus, 3; Commercial Geography, 4; Agricultural Industries, 2-II; Economic Problems, 3-II; Money and Banking, 3-I; Elements of Administration, 2-1.

Senior.

                  Railway and Insurance Statistics, 2-I; Government Statistics, 2-II; Theory of Probabilities, 2-II; Expert Accounting, 2-II; Insurance, 2-I; Railways, 2-II; Social and Economic Legislation, 3; State and Federal Administration, 2-II; Markets and Securities, 2-II.

Graduate.

                  Distribution of Wealth, 5-I; Public Finance, 5-II; Economic Seminary; Seminary Administration, 2; Laboratory Work in Statistics, 2; Railway Economies, 2-I; Public Accounting, 2-II.

__________________

The Course in Practical Sociology.

Junior.

                  Charities and Correction, 3-I; Field Work; Elements of Sociology, 3-I; History of Education, 3-I; Municipal Government, 3-II; Physiology, 3-I, 2-II; Psychology, 3-I; Ethics, 3-II; Moral Education, 1-II.

Senior.

                  Social Ethics, 2-I; Social Statistics, 3-I; Psychology and Sociology, 3-I; Modern Sociological Thought, 3-II; Field Work in Charities; Charity Organization, 2-II; Communicable Diseases, 1; Biology of Water Supplies, 5-I; American History, 2.

Graduate.

                  Seminary in Sociology, 2; Advanced Ethics, 3-I; Anthropology, 2-1; Abnormal Psychology, alternating with Comparative Psychology, 2-II; Distribution of Wealth, 5-I; History of Political Thought, 2-I; Labor Legislation, 3-I; Economic and Social History, 3; Laboratory Work in Statistics, 2.

__________________

The Course in Preparation for Public Service.

Junior.

                  Elements of Administration, 2-I; State and Federal Administration, 2-II; Constitutional Law, 3; American History, 2; Elements of Finance, 3-I; Colonial Politics, 2-I; Elementary Law, 3-I; Advanced English, 3; Social and Economic Statistics, 3.

Senior.

                  Federal Services, 2-I (a study of the organization of the various departments of the federal government with methods of work and conditions of entry); International Law, 3-II; Diplomacy, 3-II; Municipal Government, 3-II; Nineteenth Century History, 3; Administrative Law, 2-I; Contemporary Politics, 2; Political Thought, 3; English Constitutional History, 2; Social and Economic History, 3.

Graduate.

                  Seminary in Administration, 2; Administrative Services (relating to state and municipal services), 2-II; Public Finance, 5-II; Seminary in Political Philosophy, 2; American Constitution and Political History, 3; Seminary in Modern European History, 2; Seminary in Public Law, 2; Social Ethics, 2-I; Roman Law, 2-II; Municipal and Sanitary Engineering, 2-I.

                  In order to adapt the course to the special needs in individual cases, the students will be advised to devote a part of the senior and graduate year to more special preparation for some branch of the public service, and will be encouraged to take a group of electives with that end in view. Every student is, moreover, required to take as part of his senior and graduate work one of the following groups of obligatory studies, or one of other groups hereafter to be arranged, intended to form the basis of more special preparation.

a) Financial: Public Finance, 5-II, first half of semester; American Federal Finance, 5-II, second half of semester; Public accounting, 2-II; Money and Banking, 3.

(b) Internal Governments: Agricultural Industries, 2-II; Social and Economic Legislation, 3; Social and Economic Statistics, 3; American Social and Economic History, 3.

(c) State and Municipal Governments: Municipal Government, 3-II; Public Securities, 2; Municipal and Sanitary Engineering 2-I; Public Accounting, 2-II; American State and Municipal Finance, 3-II.

(d) Diplomacy: Diplomacy, 3-II; International Law, 3-I; Contemporary Politics, 2; Nineteenth Century History, 2; Advanced French and a thorough study of another European language (German, Spanish, Italian, Russian or Norse).

__________________

The Course in Preparation for Journalism.

Junior.

                  Economic Problems, 3-II; American History, 2; Constitutional Law, 3; Modern Systems of Education, 2-I; Agricultural Industries; 2-II; Municipal Government, 3-II; Moral Progress and Moral Education, 1-Il; Advanced English, 3; General survey of English Literature (with special reference to the great prose writers of the eighteenth and nineteenth centuries), 3; American Literature, 2.

Senior.

                  English Constitutional History, 2; Nineteenth Century History, 2; Political Thought, 2-I; Contemporary Polities, 2; History of the West, alternating with Economic and Social History, 3; Colonial Politics, 2-I; Social Ethics, 2-II; Press Laws, 1; State and Federal Administration, 2-II; International Law, 3-I; Advanced English, 2; English Literature (Courses 32, 33, 36, 39, and 43).

Graduate.

                  Advanced English, 2; Seminary in American History, 2; Distribution of Wealth, 5-I; Public Finance, 5-II; Modern Sociological Thought, 2-II; Seminary in Political Philosophy, 2; Seminary in Economics; Diplomacy, 3-II; History of Institutions, 2.
Seminary work in some line will be required.

Source: “University of Wisconsin, Departments of Political Economy, Political Science, and History.” Bulletin of the University of Wisconsin, no. 89 (Madison, Wisconsin: May 1904). Transcription from a copy in the Harvard University Archives, Division of History, Government, and Economics. Ph.D. exams and records of candidates, study plans, lists, etc. pre-1911-1942. Box 2, Unlabeled Folder.

Image Sources: Collage of cropped portraits of Richard T. Ely (left, ca. 1910) and John R. Commons (1904) from University of Wisconsin-Madison Archives and Commons’ autobiography Myself (after p. 94), respectively.

Categories
Exam Questions Harvard Money and Banking

Harvard. Exams for Money and Banking. Andrew, 1905-1906

 

The financial Panic of 1907 was still a few years down the historical road when A. Piatt Andrew picked up the banking semester of the two semester sequence of money and banking at Harvard from O. M. W. Sprague who had left for Japan. This expanded scope in matters monetary no doubt came in handy when Andrew joined the staff of the National Monetary Commission established by Congress in 1908.

__________________________

Previous course materials
Money and Banking 

1900-01 (Meyer and Sprague)
1901-02 (Andrew, Sprague, Meyer)
1902-03 (Andrew’s money exam, Sprague’s banking exam)
1903-04 (Andrew and Sprague)
1904-05 (Andrew’s money exam, Sprague’s banking exam)

__________________________

Course Enrollment
1905-06

Economics 8a 1hf. Asst. Professor Andrew. — Money. A general survey of currency legislation, experience, and theory in recent times.

Total 50: 5 Graduates, 7 Seniors, 22 Juniors, 10 Sophomores, 1 Freshman, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 72.

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

ECONOMICS 8a
Mid-year Examination, 1905-06

  1. Explain and give illustrations of
    1. the double standard;
    2. the parallel standard;
    3. the limping standard;
    4. the single standard;
    5. quasi-redemption;
    6. forced circulation.
  2. State briefly the circumstances which led to the issue and withdrawal of the American trade dollar.
  3. Trace briefly the chronology of the adoption of the gold standard throughout the world. To what extent is the fall in price of silver due to this movement? To what extent has the value of gold been affected by it?
  4. How would the adoption of international bimetallism to-day at the ratio of 32 to 1 affect (a) the circulating medium, (b) the standard of value of different countries? Consider both the immediate and the eventual results.
  5. What arguments advanced in favor of bimetallism ten years ago are inapplicable to-day?
  6. Is there any peculiar significance for the “quantity theory”
    1. of British India between 1893 and 1898;
    2. of Austria between 1878 and 1892;
    3. of Russia between 1878 and 1896;
    4. of Holland between 1873 and 1875.
      When possible give variant opinions.
  7. Would an ideal monetary standard always measure the same quantity of goods?
    1. According to Walker?
    2. According to Darwin?
    3. According to your own opinion?
      Answer both from the points of view of production and distribution.
  8. “Inasmuch as gold (before 1848) was more valuable on the world’s market than at the French mint, relatively to silver, it was impossible that gold should circulate in France.” Is this a necessary conclusion?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06. Also a copy in Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), p. 33.

__________________________

Course Enrollment
1905-06

Economics 8b 2hf. Asst. Professor Andrew. — Banking and the History of the leading Banking Systems.

Total 105: 7 Graduates, 12 Seniors, 56 Juniors, 22 Sophomores, 1 Freshman, 7 Others.

Source: Harvard University. Report of the President of Harvard College, 1905-1906, p. 72.

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

ECONOMICS 8b
Year-end Examination, 1905-06

  1. Explain the system of “cash credits” and the importance of the £1 note in Scotland.
  2. Discuss the following:—
    1. Bank statement based on falling averages.
    2. Five per cent fund with treasurer.
    3. Bonds for circulation.
    4. Bonds for deposits.
  3. Sketch briefly the various stages in the American government’s policy of caring for its funds.
  4. How do state banks compare with national banks in the United States to-day (a) in number, (b) in size, (c) in the kinds of business done? What differences in these regards appear in different parts of the country?
  5. On what grounds is an extension of branch-banking advocated in the United States? What are the objections raised? To what extent does it already exist?
  6. Explain the ways and trace the seasons in which the New York bank reserves are apt to decline. Discuss the means which have recently been employed by the government to strengthen them.
  7. Sight exchange is quoted at 4.8550; 60-day bills at 4.8240; commercial bills at 4.8212. Explain these differences and show how each quotation will be affected, if the Bank of England raises its rate by 1%.
  8. The following are abstracted statements of the New York Associated Banks:
(1)
Aug. 5, ’93
(2)
Feb. 3, ’94
(3)
May 20, ’99
(4)
May 23, ’03
Loans 409 420 763 923
Deposits 373 552 902 914
Capital 129 133 134 224
Circulation 6 13 16 44
Reserve 79 250 260 238

Compare 1 with 2, and 3 with 4, explaining in each case the changes in the relations (a) between loans and deposits, (b) between deposits and reserve.

Source: Harvard University Archives. Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906),  p. 34.

Image Source: Picture of Abram Piatt Andrew from ca. 1909 used in a magazine article on his appointment to the directorship of the U. S. Mint. Hoover Institution Archives. A. Piatt Andrew Papers, Box 51. Retouched and colorized by Economics in the Rear-View Mirror.