Tag: Hourwich

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Columbia Economic History Economists

Columbia. Ph.D. Alumnus Isaac Aaronovitch Hourwich, 1893

Some Ph.D.’s in economics go on to contribute to the development of the science, others go on to contribute to the commonwealth outside the ivory tower and others leave you wondering what were they thinking when they decided to write a dissertation anyway. Most of my interest is in the first group but sometimes the lives led by the other two groups are just too interesting to merely mention the title and date of their dissertation without further notice.

Today’s post is dedicated to Columbia Ph.D. alumnus, Isaac Aaronovich Hourwich, whose dissertation was among the first ten economics doctoral dissertations accepted by the Columbia School of Political Science. I decided to look him up after seeing him listed as a Docent in Statistics for the Department of Political Economy at the University of Chicago in 1893/94.

Fun Fact: Isaac’s sister, Jhenya Hourwich, translated Marx’s Das Kapital into Russian, and he later translated Das Kapital into Yiddish in 1919.

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The Dissertation

Hourwich, Isaac Aaronovich. The economics of the Russian village. Columbia University Ph.D. dissertation published in Studies in History, Economics and Public Law. Volume II, 1892-1893.

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Teaching at the University of Chicago

 

Isaac A. Hourwich, Ph.D., Docent in Statistics.

Graduate, Classical Gymnasium, Minsk, Russia, 1877; Candidate of Jursprucence (Master of Law), Demidoff Juridical Lyceum, Yaroslavl, 1887; Member of the Bar, Court of Appeals of Wilno, Russia, 1887-90; Seligman Fellow, Columbia College, 1891-2; Ph.D., ibid., 1893.

Source: University of Chicago. Annual Register July, 1893—July, 1894. Chicago: 1894, p. 18.

 

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The following biographical note comes from the YIVO Institute for Jewish Research, Center for Jewish History, Guide to the Papers of Isaac A. Hourwich (1860-1924).

Isaac A. Hourwich was born April 27, 1860 in Vilna to a middle-class maskilic family. His father, who worked in a bank and knew several European languages, made sure to give his two children a modern secular education. Hourwich graduated in 1877 from the classical gymnasium at Minsk, and later studied medicine and mathematics. As a student, he became interested in nihilistic propaganda. His activities with a revolutionary Socialist circle in St. Petersburg led to his arrest and imprisonment in 1879 on the charges of hostility to the government and of aiding to establish a secret press. He was sent to Siberia as a “dangerous character,” from 1881-1886. While in prison, he studied the settlement of Russian peasants in Siberia, and wrote a book in Russian, The Peasant Immigration to Siberia, which was published in 1888. After his release, he studied law at the Imperial University in St. Petersburg. He earned his legal degree from Demidoff Lyceum of Jurisprudence in Yaroslavl, Russia and was admitted to the Russian bar in 1887. He then practiced law in Minsk and continued his involvement in radical political movements. He helped to found the first secret Socialist circles among the Jewish workers in tsarist Russia, along with his wife Yelena (Kushelevsky) Hourwich and his sister Jhenya Hourwich, who later translated Marx’s Das Kapital into Russian.

In 1890, Hourwich fled Russia, leaving behind his first wife Yelena (Kushelevsky) Hourwich and four children, Nicholas Hourwich (1882-1934), who was later involved in the founding of the Communist Party, Maria (Hourwich) Kravitz (1883-), Rosa Hourwich (ca.1884-), and Vera (Hourwich) Semmens (1890-1976), although Hourwich’s parents continued to support his family. He first went to Paris but he had to leave there as well, at which point he immigrated to the United States. He divorced his first wife and married again, to Louise Elizabeth “Lisa” (Joffe) Hourwich (1866-1947). Lisa Hourwich had taught school in Russia, and, after immigrating to the United States with her family, attended law school, eventually passing the Illinois bar, although she never practiced as a lawyer. They had five children, Iskander “Sasha” Hourwich (1895-1968), Rebecca Hourwich Reyher (1897-1987), who was a prominent suffragist, Olga “Dicky” Hourwich (1902-1977), George Kennan Hourwich (1904-1978), and Ena (Hourwich) Kunzer (1906-1989).

In New York, Hourwich joined the Russian Workers Society for Self-Education, later the Russian Social Democratic Society, which was made up mostly of Jewish immigrants from Minsk. The Society helped to finance the Group for Liberation of Labor (1883-1903), which Georgi Plekhanov, Pavel Axelrod and Lev Deutsch formed in Geneva, Switzerland for the dissemination of Marxist ideas in Russian. From 1891-1892 he was a fellow at Columbia University where he earned a Ph.D. in economics in 1893. His thesis was published under the title The Economics of the Russian Village and a Russian translation was published in Moscow in 1896. He then taught statistics at the University of Chicago from 1892-1893, after which he returned to New York City, where he practiced law while also contributing to Marxist legal magazines in Russia. In 1897-1898, after the creation of the Social Democratic Party by Eugene V. Debs, Hourwich founded the first party branch in New York City with Meyer London. He also edited a Russian Socialist newspaper, Progress, from 1901-1904.

Hourwich moved to Washington, D.C. in 1900, where he worked for the United States government for several years, first as a translator at the Bureau of the Mint in 1900-1902, then at the Census Bureau in 1902-1906 and in 1909-1913 as a statistician and expert on mining. He was a statistician for the New York Public Service Commission, 1908-1909. During this period he developed his knowledge of American politics and economics which he used in his writings in the English and Yiddish press. He briefly wrote for the Forward after it began publication in 1897, even though he did not then know much Yiddish and had to learn it as he went along. For his articles in the Forward and other Yiddish periodicals he used the pseudonyms “Marxist” and “Yitzhok Isaac ben Arye Tzvi Halevi” so as not to bring attention to the fact that a government employee was writing for radical newspapers. His articles about American politics and economic institutions, particularly for the Tog (Day), were important in popularizing Socialism and were often the main source for explaining American economics and politics to a Yiddish-speaking audience in the United States. In addition to various essays in the Yiddish press, Hourwich published: “The Persecutions of the Jews,” in The Forum in August 1901, “Russian Dissenters,” in The Arena in May 1903 and “Religious Sects in Russia,” in The International Quarterly in October 1903, to name only a few.

In the wake of the October 1905 revolution, Tsar Nicholas II declared amnesty for political prisoners and Hourwich took advantage of this to return to Russia where he ran for a seat in the second Duma in Minsk in 1906. He was the nominee of a new Democratic People’s Party. The Jewish Socialist parties resented his intrusion and his non-Socialist campaign, particularly the Bund, which was running its own candidate. He was elected and would most likely have gained the seat in the Duma but the senate in St. Petersburg annulled his election and his name was taken off the final list of candidates. When the Duma was dissolved in June 1907 Hourwich returned to the United States and his government job. He also continued to write for various English magazines. Hourwich was an expert on immigration, and his book Immigration and Labor was published in 1912. In this work, he defends unrestricted immigration by arguing that the influx of immigrants from Eastern and Southern Europe was beneficial to the American economy. This argument was based upon economic figures and was the first defense of open immigration based on economic, rather than humanitarian, reasons.

Hourwich was active in the garment workers union at the time the agreement known as the “Protocol of Peace” was in effect. Engineered by Louis D. Brandeis following the cloakmakers’ strike of 1910, the Protocol was a system for resolving conflicts between workers and manufacturers in the garment industry without resorting to arbitration. This system was proving difficult to implement when Hourwich was appointed Chief Clerk of the Cloak and Skirt Makers’ Union in early 1913. He was in favor of reforming the Protocol, including a change from conciliation to arbitration, exactly what Brandeis had been against when drafting the Protocol. Hourwich’s position earned him the enmity of other union leaders, of his old friend, Meyer London, and also of Brandeis, who had represented the garment employers in Boston against the union during the 1910 strike. In addition, the heads of the International Ladies’ Garment Workers Union, Abraham Rosenberg and John Dyche, vehemently opposed Hourwich for asserting the power of the local union against its parent organization and were concerned that his actions would lead to another strike. The officers of the ILGWU tried unsuccessfully to force Hourwich out, although the majority of garment workers supported him for his populist views, despite his lack of trade union experience.

In November 1913, the Cloak, Suit and Skirt Manufacturers’ Association refused to negotiate with Hourwich as the union representative and demanded his resignation. Although the heads of the union were united in their dislike of Hourwich, they supported him in resisting the manufacturers’ pressure. However, in early 1914 when the manufacturers threatened to break off the Protocol and a strike appeared imminent, Hourwich stepped down rather than compromise, despite the protests of many rank-and-file union members. The so-called “Hourwich Affair” showed the weakness of the Protocol as a means of settling disputes and hastened its eventual reform. It also revealed the various power struggles taking place between the International and the local unions, as well as between the union leadership and the mass of garment workers.

Hourwich was an early critic of the totalitarian tendencies of the Bolshevik government. Nevertheless, he maintained some sympathy for the Marxist cause and served as legal advisor to the Soviet ambassador to the United States, Ludwig C.K. Martens. He was also connected with the weekly magazine, Friends of Soviet Russia, published by the Soviet Agency, although he never wrote in support of the Bolsheviks. A visit to the Soviet Union in 1922 disillusioned Hourwich, however, and he returned firmly opposed to the Soviet regime.

Despite his commitment to Socialism, Hourwich did not strictly adhere to party doctrine and often crossed political boundaries in his allegiances. For example, in 1912 he supported Theodore Roosevelt and ran for Congress on the ticket of Roosevelt’s Progressive Party, an unthinkable act for a Jewish radical, although he seems to have been unconcerned with any criticism this raised. He was involved with the Socialist Democratic Party but did not join the Socialist Party of America, despite its Marxist program. He wrote for various Yiddish newspapers of every political affiliation, including the Socialist Jewish Daily Forward, the anarchist Fraye Arbeter Shtimme (Free Workers Voice), where he published his unfinished memoirs Zikhroynes fun an Apikoyres (Memoirs of a Heretic), the Warheit (Truth), the Tog (Day), and the Tsukunft (Future). His non-ideological approach led some to label him a political opportunist. He was an ardent supporter of President Wilson and his advocacy of the New Freedom and social reform until Wilson’s 1916 appointment of Louis D. Brandeis to the Supreme Court. Hourwich was still holding a grudge against Brandeis for his involvement in the “Hourwich Affair.”

In his later years Hourwich became active in the Zionist movement, and in 1917 he helped to organize the American Jewish Congress. Hourwich’s books in Yiddish include Mooted Questions of Socialism (1917), a Yiddish translation of Marx’s Das Kapital (1919), and a four-volume edition of his collected works (1917-1919). Hourwich died of pneumonia on July 9, 1924.

Source: Guide to the Papers of Isaac A. Hourwich (1860-1924).

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Personal Notes [1894]

Dr. Isaac Aaronovich Hourwich has been appointed Docent in Statistics at the University of Chicago. He was born April 26, 1860, at Wilno, Russia, and was educated at the Classical Gymnasium, at Minsk, from 1869-77. The year 1877-78 he spent at the Medioc-Chirurgical Academy at St. Petersburg, and 1878-79 at the University of St. Petersburg. Later he became a non-resident student of the Demidor Juridical Lyceum, at Yaroslavl, where in 1887 he graduated with the degree of LL.M. He was admitted to the bar at Minsk, and practiced law from 1887 to 1890. In 1891 he became a student of Columbia College, New York, and received in 1893 the degree of Ph.D. from that institution. Dr. Hourwich has published:

“Peasant Emigralion to Siberia.” Juridichesky Vestnik (Juridical Herald), Moscow, January, 1887.
“The Study of Peasant Emigration to Siberia.” Sibirski Sbornik (Siberian Magazine), 1887.
“Peasant Emigration t0 Siberia.” Pp. 160. Moscow, 1888.
“The Agrarian Question in Russia.” Ur Dagens Krönika. Stockholm, September, 1890.
“The Persecution of the Jews.” The Forum. August, 1891.
“The Russian Judiciary.” Political Science Quarterly, December, 1892.
“The Economics of the Russian Village.” Pp. 184. Columbia College Studies in History, Economics and Public Law.

Source:  The Annals of the American Academy of Political and Social Science, vol. 4 (Jan., 1894), p. 156.

Image Source: Portrait of Isaac Aaronovich Hourwich from his Oysgeehle shrifn, Vol. I, frontispiece, copyright 1916.

 

 

 

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Berkeley Chicago Columbia Economists

Columbia. Wesley C. Mitchell’s Methodological Thoughts, 1928.

The following excerpts from a typed copy of a letter from Wesley C. Mitchell to John Maurice Clark dated August 9, 1928 come from Mitchell’s papers with a hand-written note at the top of the first page, “Revised Feb 11, 1929”. The copy was made by Clark and perhaps given to Mitchell for further comment.

Mitchell begins with a longish response to a question posed by Clark regarding Mitchell’s own professional revealed preference for empirical investigation. This is followed by shorter responses to questions about the origin of his interest in business cycles, the relationship of “analytical description” to “causal theory”, and finally Mitchell’s confessed own perceived shortcomings in the use of statistical techniques for trend and seasonal analysis.

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

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Letter from Wesley C. Mitchell to John Maurice Clark
9 August 1928 (excerpt)

[…]

            Concerning the inclination you note to prefer concrete problems and methods to abstract ones, my hypothesis is that it got started, perhaps manifested itself would be more accurate, in childish theological discussions with my grand aunt. She was the best of Baptists, and knew exactly how the Lord had planned the world. God is love; he planned salvation; he ordained immersion; his immutable word left no doubt about the inevitable fate of those who did not walk in the path he had marked. Hell is no stain upon his honor, no inconsistency with love.—I adored the logic and thought my grand aunt flinched unworthily when she expressed hopes that some back-stairs method might be found of saving from everlasting flame the ninety and nine who are not properly baptized. But I also read the Bible and began to cherish private opinions about the character of the potentate in Heaven. Also I observed that his followers on earth did not seem to get what was promised them here and now. I developed an impish delight in dressing up logical difficulties which my grand aunt could not dispose of. She always slipped back into the logical scheme, and blinked the facts in which I came to take a proprietary interest.

I suppose there is nothing better as a teething-ring for a child who likes logic in the garden variety of Christian theology. I cut my eye-teeth on it with gusto and had not entirely lost interest in that exercise when I went to college.

There I began studying philosophy and economics about the same time. I found no difficulty in grasping the differences between the great philosophical systems as they were presented by our text-books and our teachers. Economic theory was easier still. Indeed, I thought the successive systems of economics were rather crude affairs compared with the subtleties of the metaphysicians. Having run the gamut from Plato to T. H. Green (as undergraduates do) I felt the gamut from Quesnay to Marshall was a minor theme. The technical part of the theory was easy. Give me premises and I could spin speculations by the yard. Also I knew that my “deductions” were futile. It seemed to me that people who took seriously the sort of articles which were then appearing in the Q.J.E. might have a better time if they went in for metaphysics proper.

Meanwhile I was finding something really interesting in philosophy and in economics. John Dewey was giving courses under all sorts of titles and every one of them dealt with the same problem – how we think. I was fascinated by his view of the place which logic holds in human behavior. It explained the economic theorists. The thing to do was to find out how they came to attack certain problems; why they took certain premises as a matter of course; why they did not consider all the permutations and variance of those problems which were logically possible; why their contemporaries thought their conclusions were significant. And, if one wanted to try his own hand at constructive theorizing, Dewey’s notion pointed the way. It is a misconception to suppose that consumers guide their course by ratiocination – they don’t think except under stress. There is no way of deducing from certain principles what they will do, just because their behavior is not itself rational. One has to find out what they do. That is a matter of observation, which the economic theorist had taken all too lightly. Economic theory became a fascinating subject – the orthodox types particularly – when one began to take the mental operations of the theorists as the problem, instead of taking their theories seriously.

Of course Veblen fit fitted perfectly into this set of notions. What drew me to him was his artistic side. I had a weakness for paradoxes – Hell set up by the God of love. But Veblen was a master developing beautiful subtleties, while I was a tyro emphasizing the obvious. He did have such a good time with the theory of the leisure class and then with the preconceptions of economic theory! And the economists reacted with such bewildered soberness! There was a man who really could play with ideas! If one wanted to indulge in the game of spinning theories who could match his skill and humor? But if anything were needed to convince me that the standard procedure of orthodox economics could meet no scientific tests, it was that Veblen got nothing more certain by his dazzling performances with another set of premises. His working conceptions of human nature might be a vast improvement; he might have uncanny insights; but he could do no more than make certain conclusions plausible – like the rest. How important were the factors he dealt with and the factors he scamped was never established.

That was a sort of problem which was beginning to concern me. William Hill set me a course paper on “Wool Growing and the Tariff.” I read a lot of the tariff speeches and got a new side-light on the uses to which economic theory is adapted, and the ease with which it is brushed aside on occasion. Also I wanted to find out what really had happened to wool growers as a result of protection. The obvious thing to do was to collect and analyze the statistical data. If at the end I had demonstrated no clear-cut conclusion, I at least knew how superficial were the notions of the gentlemen who merely debated the tariff issue, whether in Congress or in academic quarters. That was my first “investigation” – I did it in the way which seemed obvious, following up the available materials as far as I could, and reporting what I found to be the “facts.” It’s not easy to see how any student assigned this topic could do much with it in any other way.

A brief introduction to English economic history by A. C. Miller, and unsystematic readings in anthropology instigated by Veblen reinforced the impressions I was getting from other sources. Everything Dewey was saying about how we think, and when we think, made these fresh material significant, and got fresh significance itself. Men had always deluded themselves, it appeared, with strictly logical accounts of the world and their own origin; they had always fabricated theories for their spiritual comfort and practical guidance which ran far beyond the realm of fact without straining their powers of belief. My grand aunt’s theology; Plato and Quesnay; Kant, Ricardo and Karl Marx; Cairnes and Jevons, even Marshall were much of a piece. Each system was tolerably self-consistent – as if that were a test of “truth”! There were realms in which speculation on the basis of assumed premises achieved real wonders; but they were realms in which one began frankly by cutting loose from the phenomena can observe. And the results were enormously useful. But that way of thinking seem to get good results only with reference to the simplest of problems, such as numbers and spatial relations yet men practice this type of thinking with reference to all types of problems which could not be treated readily on a matter-of-fact basis – creation, God, “just” prices in the middle ages, the Wealth of Nations in Adam Smith’s time, the distribution of incomes in Ricardo’s generation, the theory of equilibrium in my own day.

There seem to be one way of making real progress, slow, very slow, but tolerably sure. That was the way of natural science. I really knew nothing of science and had enormous respect for its achievements. Not the Darwinian type of speculation which was then so much in the ascendant – that was another piece of theology. But chemistry and physics. They had been built up not in grand systems like soap bubbles; but by patient processes of observation and testing – always critical testing – of the relations between the working hypotheses and the processes observed. There was plenty of need for rigorous thinking, indeed of thinking more precise than Ricardo achieved; but the place for it was inside the investigation so to speak – the place that mathematics occupied in physics as an indispensable tool. The problems one could really do something with in economics were problems in which speculation could be controlled.

That’s the best account I can give offhand of my predilection for the concrete. Of course it seems to me rather a predilection for problems one can treat with some approach to scientific method. The abstract is to be made use of it every turn, as a handmaiden to help hew the wood and draw the water. I loved romances – particularly William Morris’ tales of lands that never were – and utopias, and economic systems, of which your father’s when I came to know it seemed the most beautiful; but these were objects of art, and I was a work man who wanted to become a scientific worker, who might enjoy the visions which we see in mountain mists but who trusted only what we see in the light of common day.

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            Besides the spice of rationalizing which doubtless vitiates my recollections – uncontrolled recollections at that – this account worries me by the time it is taking, yours as well as mine. I’ll try to answer the other questions concisely.

Business cycles turned up as a problem in the course of the studies which I began with Laughlin. My first book on the greenbacks dealt only with the years of rapid depreciation and spasmodic war-time reaction. I knew that I had not gotten to the bottom of the problems and wanted to go on. So I compiled that frightful second book as an apparatus for a more thorough analysis. By the time it was finished I had learned to see the problem in a larger way. Veblen’s paper on “Industrial and Pecuniary Employments” had a good deal to do with opening my eyes. Presently I found myself working on the system of prices and its place in modern economic life. Then I got hold of Simmel’s Theorie des Geldes – a fascinating book. But Simmel, no more than Veblen, knew the relative importance of the factors he was working with. My manuscript grew – it lies unpublished to this day. As it grew in size it became more speculative. I was working away from any solid foundation – having a good time, but sliding gaily over abysses I had not explored. One of the most formidable was the recurring readjustments of prices, which economists treated apart from their general theories of value, under the capitation “Crises.” I had to look into the problem. It proved to be susceptible of attack by methods which I thought reliable. The result was the big California monograph. I thought of it as an introduction to economic theory.

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            This conception is responsible for the chapter on “Modern Economic Organization.” I don’t remember precisely at what stage the need of such a discussion dawned upon me. But I have to do everything a dozen times. Doubtless I wrote parts of that chapter fairly early in other parts late as I found omissions in the light of the chapters on “The Rhythm of Business Activity.” Of course, I put nothing in which did not seem to me strictly pertinent to the understanding of the processes with which the volume dealt. That I did not cover the field very intelligently, even from my own viewpoint, appears from a comparison of the books published in 1913 and 1927. Doubtless before I am done with my current volume, I shall be passing a similar verdict upon the chapter as I left it last year.

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            As to the relation between my analytic description and “causal” theory I have no clear ideas – though I might develop some at need. To me it seems that I tried to follow through the inter-lacing processes involved in business expansion and contraction by the aid of everything I know, checking my speculations just as far as I can buy the data of observation. Among the things I “know” are the way in which economic activity is organized in business enterprises, and the way these enterprises are conducted for money profits. But that is not a simple matter which enables me to deduce certain results – or rather, to deduce results with certainty. There is much in the workings of business technique which I should never think of if I were not always turning back to observation. And I should not trust even my reasoning about what business men will do if I could not check it up. Some unverifiable suggestions do emerge; but I hope it is always clear that they are unverified. Very likely what I try to do is merely carrying out the requirements of John Stuart Mill’s “complete method.” But there is a great deal more passing back and forth between hypotheses and observation, each modifying and enriching the other, than I seem to remember in Mill’s version. Perhaps I do him injustice as a logician through default of memory; but I don’t think I do classical economics injustice when I say that it erred sadly in trying to think out a deductive scheme and then talked of verifying that. Until science has gotten to the stage of elaborating the details of an established body of theory – say finding a planet from the aberrations of orbits, or filling a gap in the table of elements – it is rash to suppose one can get an hypothesis which stands much chance of holding good except from a process of attempted verification, modification, fresh observation, and so on. (Of course, there is a good deal of commerce between most economic theorizing and personal observation of an irregular sort – that is what has given our theories their considerable measure of significance. But I must not go off into that issue.)

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           […] when writing the first book about business cycles I seem to have had no clear ideas about secular trends. The term does not appear to occur in the index. Seasonal variations appear to be mentioned only in connection with interest rates. Of course certain rough notions along these lines may be inferred; but not such definite ideas as would safeguard me against the errors you point out. What makes matters worse for me, I was behind the times in this respect. J. P. Norton’s Statistical Studies in the New York Money Market had come out in 1902. I ought to have known and make use made use of his work.

That is only one of several serious blemishes upon the statistical work in my 1913 volume. After Hourwich left Chicago, and that was before I got deep into economics, no courses were given on statistics in my time. I was blissfully ignorant of everything except the simplest devices. To this day I have remained an awkward amateur, always ready to invent some crude scheme for looking into anything I want to know about, and quite likely to be betrayed by my own apparatus. I shall die in the same sad state.

 

[…]

Ever yours,
Wesley C. Mitchell.
(Copy by J.M.C.)

 

Source: Columbia University Archives. Wesley Clair Mitchell Collection, Box 8 “Ch-Ec”, Folder “Clark, John Maurice: v.p., 8 Apr 1926 & 21 Apr 1927. To Wesley C. Mitchell 2 a.l.s. (with related material)”.

Image Source: Foundation for the Study of Cycles.

Categories
Chicago Economists

Chicago. 25th anniversary of Dept of Political Economy, 1916

In 1916 the department of political economy of the University of Chicago celebrated its 25th anniversary (coinciding with that of the university) with a privately printed pamphlet in which were listed the names of the 38 members of the instructional staff, 12 assistants, 98 fellows, 637 graduate students and 31 Ph.D.’s of its first quarter century. Note: some names are listed in more than a single category. Appended to the end of the pamphlet is a statistical record of instructional staff, graduate students and political economy course registrations annually for the period.

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

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TWENTY-FIVE YEARS OF THE
DEPARTMENT OF POLITICAL ECONOMY

DEPARTMENT
OF
POLITICAL ECONOMY.
1892-3.

OFFICERS OF INSTRUCTION:

J. LAURENCE LAUGHLIN, Ph. D.,

Head-Professor of Political Economy.

ADOLPH C. MILLER, A. M.,

Associate-Professor of Political Economy.

WILLIAM CALDWELL, A. M.,

Tutor in Political Economy.

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TWENTY-FIVE YEARS
OF THE
DEPARTMENT OF POLITICAL ECONOMY
UNIVERSITY OF CHICAGO

 

JAMES LAURENCE LAUGHLIN
Professor and Head of the Department of Political Economy
1892-1916

 

CHICAGO
PRIVATELY PRINTED
MCMXVI

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JAMES LAURENCE LAUGHLIN
Professor and Head of the Department of Political Economy, 1892-1916.

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Edith Abbott

Special Lecturer in Political Economy, 1909-10.

William George Stewart Adams

Lecturer on Finance and Colonial Policy, 1901-2.

Trevor Arnett

Lecturer in Accounting, 1909-13.

John Graham Brooks

University Extension Lecturer in Political Economy, 1893-97.

William Caldwell

Instructor in Political Economy, 1892-94.

John Bennet Canning

Special Assistant in Political Economy, 1914; Assistant, 1914-15; Instructor, 1915-

John Maurice Clark

Associate Professor in Political Economy, 1915-

Carlos Carleton Closson

Instructor in Political Economy, 1895-96.

John Cummings

Reader in Political Economy, 1893-94; Assistant Professor, 1903-10.

Herbert Joseph Davenport

Instructor in Political Economy, 1902-4; Assistant Professor, 1904-7; Associate Professor, 1907-8.

Ernest Ritson Dewsnup

Professorial Lecturer on Railways and Curator of the Museum of Commerce, 1904-7.

Garrett Droppers

Professorial Lecturer, 1906-7.

Carson Samuel Duncan

Instructor in Commercial Organization, 1915-

Jay Dunne

Assistant in Accounting, 1913-14; Instructor, 1914-

James Alfred Field

Instructor in Political Economy, 1908-10; Assistant Professor, 1910-13; Associate Professor, 1913-

Worthington Chauncey Ford

Lecturer on Statistics, 1898-1901.

Frederic Benjamin Garver

Assistant in Political Economy, 1911-13; Instructor, 1913-14.

Elgin Ralston Lovell Gould

Professor of Statistics, 1895-96.

Stuart McCune Hamilton

Instructor in Political Economy, 1914-16.

Walton Hale Hamilton

Assistant Professor of Political Economy, 1913-15.

Henry Rand Hatfield

Instructor in Political Economy, 1898-1902; Assistant Professor, 1902-4.

Frank Randal Hathaway

Reader in Statistics, 1892-93.

William Hill

Associate in Political Economy, 1893-94; Instructor, 1894-97; Assistant Professor, 1897-1908; Associate Professor, 1908-12.

Isaac A. Hourwich

Docent in Statistics, 1892-94.

Robert Franklin Hoxie

Instructor in Political Economy, 1906-8; Assistant Professor, 1908-12; Associate Professor, 1912-

Alvin Saunders Johnson

Associate Professor of Political Economy, 1910-11.

John Koren

Professorial Lecturer on Statistics (Political Economy and Sociology), 1909-10.

Leon Carroll Marshall

Assistant Professor of Political Economy, 1907-8; Associate Professor, 1908-11; Professor of Political Economy, 1911-

Hugo Richard Meyer

Assistant Professor of Political Economy, 1903-5.

Adolph Caspar Miller

Associate Professor of Political Economy, 1892-93; Professor of Finance, 1893-1902.

Wesley Clair Mitchell

Assistant in Political Economy, 1900-1; Instructor, 1901-2.

Robert Morris

Instructor in Political Economy, 1904-7.

Harold Glenn Moulton

Assistant in Political Economy, 1910-11 ; Instructor, 1911-14; Assistant Professor, 1914-

Frederic William Sanders

Lecturer in Statistics, 1896-97.

Frederick Myerle Simons

Assistant in Industrial Organization, 1913- 15; Instructor, 1915-

Thorstein B. Veblen

Reader in Political Economy, 1893-94; Associate, 1894-96; Instructor, 1896-1900; Assistant Professor, 1900-06.

Chester Whitney Wright

Instructor in Political Economy, 1907-10; Assistant Professor, 1910-13; Associate Professor, 1913-

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[Assistants]

Clarence Elmore Bonnett

Assistant in Political Economy, 1910-11.

Ezekiel Henry Downey

Assistant in Political Economy, 1909-11.

John Franklin Ebersole

Assistant in Political Economy, 1909-10.

Edith Scott Gray

Assistant in Political Economy, 1915-

Homer Hoyt

Assistant in Political Economy, 1915-

Edgar Hutchinson Johnson

Assistant in Political Economy, 1909-10.

John Curtis Kennedy

Assistant in Political Economy, 1908-11.

Robert Russ Kern

Assistant in Political Economy, 1908-9.

Hazel Kyrk

Assistant in Political Economy, 1913-14.

Duncan Alexander MacGibbon

Assistant in Political Economy, 1912-13.

Ernest Minor Patterson

Assistant in Political Economy, 1910-11.

Leona Margaret Powell

Assistant in Political Economy, 1915-

___________________________________

 

FELLOWS

Edith Abbott (1903-05)

William Harvey Allen (1897-98)

Eugene Charles deAndrassy (1913-14)

Charles Criswell Arbuthnot (1901-03)

Leon Ardzrooni (1910-13)

Trevor Arnett (1899-1900)

Edward Martin Arnos (1912-13)

Otho Clifford Ault (1913-14)

Edward Donald Baker (1912-14)

Sturgeon Bell (1906-07)

Clarence Elmore Bonnett (1912-13)

Donald Elliott Bridgman (1905-07)

Howard Gray Brownson (1906-07)

Francis Lowden Burnet (1912-13)

George Chambers Calvert (1894-95)

John Cummings (1893-94)

Rajani Kanta Das (1914-16)

Herbert Joseph Davenport (1897-98)

Katharine Bement Davis (1897-98; 1899-1900)

William John Alexander Donald (1911-12)

James Alister Donnell (1902-03)

Ezekiel Henry Downey (1908-09)

Ephraim Edward Erickson (1911-12)

Katharine Conway Felton (1895-96)

Albert Lawrence Fish (1899-1900)

Ralph Evans Freeman (1915-16)

Hamline Herbert Freer (1892-93)

Frederic Benjamin Garver (1910-11)

Marshall Allen Granger (1915-)

Homer Ewart Gregory (1915-)

Gudmundur Grimson (1905-06)

Willard Neal Grubb (1908-09)

Charles Kelly Guild (1911-12)

William Buck Guthrie (1900-01)

William Fletcher Harding (1894-95)

Sarah McLean Hardy (1893-95)

Henry Rand Hatfield (1897-98)

Chauncey Edward Hope (1912-13)

Albert Lafayette Hopkins (1905-06)

John Lamar Hopkins (1899-1900)

Earl Dean Howard (1903-05)

Robert Franklin Hoxie (1893-95; 1902-03)

Homer Hoyt (1913-15)

Howard Archibald Hubbard (1909-12)

Walter Huth (1912-13)

John Curtis Kennedy (1907-09)

Robert Russ Kern (1907-08)

Benjamin Walter King (1913-14)

William Lyon Mackenzie King (1896-97)

Delos Oscar Kinsman (1898-99)

Hazel Kyrk (1912-13)

Manuel Lippitt Larkin (1911-12; 1913-14)

William Jett I.auck (1903-05)

Ferris Finley Laune (1915-)

Stephen Butler Leacock (1900-02)

Mary Margaret Lee (1907-08)

Svanto Godfrey Lindholm (1900-02)

Simon James McLean (1896-97)

James Dysart Magee (1909-10)

Basil Maxwell Manly (1909-10)

Howard Sherwood Meade (1897-98)

Albert Newton Merritt (1905-06)

Frieda Segelke Miller (1912-15)

John Wilson Million (1892-93; 1894-95)

Harry Alvin Millis (1898-99)

Wesley Clair Mitchell (1896-99)

James Ernest Moffat (1915-)

Harold Glenn Moulton (1909-11)

Walter Dudley Nash (1901-02)

Robert Samuel Padan (1900-01)

Eugene Bryan Patton (1905-08)

Clarence J. Primm (1908-10)

Yetta Scheftel (1913-14)

D. R. Scott (1911-12)

Frederick Snyder Seegmiller (1909-10)

George Cushing Sikes (1893-94)

Selden Frazer Smyser (1901-02)

Lewis Carlyle Sorrell (1915-)

George Asbury Stephens (1908-09)

Worthy Putnam Sterns (1897-1900)

Henry Waldgrave Stuart (1894-96)

Laurence Wardell Swan (1914-15)

William Walker Swanson (1905-08)

Archibald Wellington Taylor (1909-12)

John Giffin Thompson (1903-04)

George Gerard Tunell (1894-97)

Helen Honor Tunnicliff (1893-94)

Victor Nelson Valgren (1911-12)

Cleanthes Aristides Vassardakis (1911-12)

Thorstein B. Veblen (1892-93)

Merle Bowman Waltz (1895-96)

Samuel Roy Weaver (1911-12)

Victor J. West (1908-09)

Henry Kirke White (1893-94)

Murray Shipley Wildman (1901-04)

Henry Parker Willis (1895-98)

Ambrose Pare Winston (1893-94; 1896-97)

Anna Pritchett Youngman (1905-06; 1907-08)

___________________________________

GRADUATE STUDENTS

Abbott, Edith

Agate, William Richard

Akers, Dwight La Brae

Allen, William Harvey

Alvord, Clarence Walworth

Andrassy, Eugene Charles de

Apel, Paul Herman

Appell, Carl John

Apps, Elizabeth

Arbuthnot, Charles Criswell

Ardzrooni, Leon

Arnett, Trevor

Arnos, Edward Martin

Atcherson, Lucile

Ault, Otho Clifford

Bacon, Margaret Gray

Baker, Edward Donald

Balch, Emily Greene

Baldwin, James Fosdick

Ball, Ernest Everett

Barden, Carrie

Barnes, Jasper Converse

Barnes, Mabel Bonnell

Baron, Albert Heyen Nachman

Barrett, Don Carlos

Barrett, Roscoe Conkling

Bassett, Wilbur Wheeler

Bealin, Nella Ellery

Beall, Cornelia Morgan

Belknap, William Burke, Jr.

Bell, Hugh Samuel

Bell, James Warsau

Bell, Spurgeon

Bender, Christian Edward

Bengtson, Caroline

Benson, Madison Hawthorne

Berghoff, Lewis Windthorst

Bernstein, Nathan

Beyle, Herman Carey

Bischoff, Henry J.

Blachly, Clarence Day

Black, John Donald

Blankenship, Harry Alden

Bliss, George Morgan

Blotkin, Frank Ernest

Board, Willis Marvin

Bolinger, Walter Allen

Bond, William Scott

Bonnett, Clarence Elmore

Borden, Edwin Howard

Bosworth, William Baeder

Bournival, Phillippe

Bouroff, Basil Andreevitch

Boyce, Warren Scott

Boyd, Carl Evans

Boyd, Charles Samuel

Boyd, William Edington

Bozarth, Maud

Bradenburg, Samuel Jacob

Bradley, Frederick Oliver

Bramhall, Frederick Dennison

Brandenberger, William Samuel

Breckinridge, Roeliff Morton

Breckinridge, Sophonisba Preston

Bridgman, Donald Elliott

Bridgman, Isaac Martin

Briggs, Claude Porter

Brister, John Willard

Bristol, William Frank

Bristow, Oliver Martin

Brooks, Samuel Palmer

Brown, Fanny Chamberlain

Brown, Samuel Emmons

Brownson, Howard Gray

Bryant, William Cullen

Buchanan, Daniel Houston

Buchanan, James Shannon

Buechel, Fred A.

Bulkley, Herman Egbert

Bullock, Theodore Tunnison

Burnet, Francis Lowden

Burnham, Smith

Bushnell, Charles Joseph

Butts, Alfred Benjamin

Byers, Charles Howard

Byram, Perry Magnus

Cable, Joseph Ray

Calhoun, Wilbur Pere

Calvert, George Chambers

Cammack, Ira Insco

Canning, John Bennet

Capitsini, George Peter

Carlton, Frank Tracy

Carmack, James Abner

Carroll, John Murray

Carroll, Mollie Ray

Cartwright, Lawrence Randolph

Cassells, Gladys May

Catterall, Ralph Charles Henry

Chamberlain, Elizabeth Leland

Chapin, Lillian

Chen, Huan Chang

Chen, Po

Cheng, Pekao Tienton

Cheu, Beihan H.

Church, Clarence Cecil

Church, James Duncan

Clark, Fred Emerson

Clark, Henry Tefft

Clarkson, Matthew Alexander

Cleveland, Frederick Albert

Clifford, Wesley Nathaniel

Cole, Warren Bushnell

Collicott, Jacob Grant

Collins, Laurence Gerald

Colton, Ethan Theodore

Colvin, David Leigh

Colvin, William Elmer

Conover, William Bone

Cordell, Harry William

Cox, William Edward

Craig, Earl Robert

Cross, William Thomas

Crowther, Elizabeth

Cummings, John

Curran, James Harris

Cutler, Ward Augustus

Daniels, Eva Josephine

Darden, William Edward

Das, Rajani Kanta

Davenport, Frances Gardiner

Davenport, Herbert Joseph

Davidson, Margaret

Davis, Blanche

Davis, Katharine Bement

Davison, Leslie Leroy

Davison, Madeline

Dawley, Almena

Day, James Frank

DeCew, Louisa Carpenter

Dies, William Porter

Dodd, Walter Fairleigh

Dodge, LeVant

Donald, William John Alexander

Donnell, James Allister

Downey, Ezekiel Henry

Duncan, Carson Samuel

Duncan, George Edward

Duncan, Marcus Homer

Duncan, Margaret Louise

Dunford, Charles Scott

Dunlap, Arthur Beardsley

Dunn, Arthur William

Durand, Alice May

Durno, William Field

Duval, Louis Weyman

Dye, Charles Hutchinson

Dyer, Gustavus Walker

Dymond, Edith Luella

Dyson, Walter Mitchell

Easly, Walter Irving

Easton, William Oliver

Ebersole, John Franklin

Edwards, Anne Katherine

Eidson, Lambert

Ellis, Charles Hardin

Ellis, Mabel Brown

Elmore, Edward Bundette

Engle, John Franklin

Erickson, Ephraim Edward

Eslick, Theodore Parker

Eyerly, Elmer Kendall

Felton, Katharine Conway

Fine, Nathan

Fish, Alfred Lawrence

Fitzgerald, James Anderson

Fleming, Capen Alexander

Fleming, Herbert Easton

Fleming, William Ebenezer

Flocken, Ira Graessle

Foley, Roy William

Forrest, Jacob Dorsey

Fortney, Lorain

Foucht, Pearl Leroy

Francis, Bruce

Franklin, Frank George

Frazier, Edgar George

Freeark, Frederick Aaron

Freeman, Helen Alden

Freeman, Ralph Evans

Freer, Hamline Herbert

Galloway, Ida Gray

Galloway, Louis Caldwell

Gamble, George Hawthorne

Gardner, Emelyn Elizabeth

Gardner, William Howatt

Garver, Frederic Benjamin

Gebauer, George Rudolph

Geddes, Joseph Arch

Genheimer, Eli Thomas

Gephart, William Franklin

Glover, Ethel Adelia

Going, Margaret Chase

Goodhue, Everett Walton

Goodier, Floyd Tompkins

Graham, Theodore Finley

Granger, Marshall Allen

Granger, Roy T.

Grant, Laura Churchill

Gray, Edith Scott

Gray, Helen Sayr

Gray, Victor Evan

Green, Martha Florence

Gregg, Eugene Stuart

Gregory, Homer Ewart

Griffith, Elmer Cummings

Grimes, Anne Blanche

Grimson, Gudmundur

Griswold, George C.

Gromer, Samuel David

Grubb, Willard Neal

Guice, Herman Hunter

Guild, Charles Kelly

Guildford, Paul Willis

Guthrie, William Buck

Hagerty, James Edward

Hahne, Ernest Herman

Hall, Arnold Bennett

Hamilton, John Bascom

Hamilton, Robert Houston

Hammond, Alva Merwin

Hand, Chester Culver

Hanks, Ethel Edna

Harding, William Fletcher

Hardy, Eric West

Hardy, Sarah McLean

Hargrove, Pinkney Settle

Harris, Estelle

Harris, Ralph B.

Hastings, Cora Walton

Hatfield, Henry Rand

Haynes, Fanny Belle

Hearon, Cleo Carson

Hedrick, Wilbur Olin

Herger, Albert August Ernst

Herndon, Dallas Tabor

Herron, Belva Mary

Hewes, Amy

Hidden, Irad Morton

Hill, Harvey Thomas

Hinton, Vasco Giles

Hitchcock, William

Hodgdon, Mary Josephine

Hodge, Albert Claire

Hodgin, Cyrus Wilbur

Holman, Guy

Holmes, Marion

Honska, Otto James

Hope, Chauncey Edward

Hopkins, Albert Lafayette

Hopkins, John Lamar

Horner, John Turner

Hotchkiss, Irma Helen

Hourwich, Isaac A.

Howard, Earl Dean

Howe, Charles Roland

Howerth, Ira Woods

Hoxie, Robert Franklin

Hoyt, Homer

Hubbard, Howard Archibald

Hughes, Elizabeth

Humble, Henry William

Humphries, Louis Kyle

Hunt, Duane Garrison

Hunter, Estelle Belle

Huntington, Ellery Channing

Huth, Walter

Ito, Jiniro

Jacobson, Henry Anthony

Jalandoni, Jose Ledesma

Johnson, Edgar Hutchinson

Johnson, Edna Margaret

Jones, Austin Franklin

Jordan, Elijah John

Juchhoof, Frederik

Jude, George Washington

Kaiser, Arthur

Kammeyer, Julius Ernest

Karsten, Eleanor G.

Keeney, George Albert

Kelley, James Herbert

Kellor, Frances Alice

Kelly, Arthur Caryl

Kennedy, John Curtis

Kern, Robert Russ

Kerr, Robert Floyd

Kester, Roy Bernard

Kibler, Thomas Latimer

Kilpatrick, Elizabeth Smith

King, Benjamin Walter

King, Harriet Gertrude

King, James Alexander

King, James Stanhope

King, William Lyon Mackenzie

Kinsman, Delos Oscar

Kirkham, Francis Washington

Kling, Henry Frank

Kobayashi, Kaoru

Koepke, Frank Oswald

Kyrk, Hazel

Lamar, Clyde Park

Lamborn, William Henry

Landis, George Butts

Lane, Elmer Burr

Lang, Ellen Flora

Lange-Wilkes, Friedrich Fred

Larkin, Manuel Lippitt

La Rowe, Eugene

Latourette, Lyman Ezra

Lauck, William Jett

Lauder, Charles Edward

Laune, Ferris Finley

Lavery, Maud Ethel

Leacock, Stephen Butler

Learned, Henry Barrett

Leavitt, Orpha Euphemia

Le Drew, Henry Herbert

Lee, Mary Margaret

Leff, Samuel

Lefler, Shepherd

Legh, Sydney Cornwall

Lenhart, Harry Hull

Lennes, Nels Johan

Leonard, Walter Anderson

Lewis, Henry

Lewis, Neil Madison

Lindholm, Svanto Godfrey

Lippincott, Isaac

Lipsky, Harry Alexander

Lobdell, Charles Walter

Logan, Harold Amos

Logan, John Lockheart

Loomis, Milton Early

Loveless, Milo James

Lowry, Russell

Lucas, William Hardin

Luehring, Frederick William

Lurton, Freeman Ellsworth

McAfee, Lowell Mason

McClintock, Euphemia E.

MacClintock, Samuel Sweeny

McCord, Robert Bryan

McCrimmon, Abraham Lincoln

McCurdy, Raymond Scott

McCutchen, George

McDonald, Julius Flake

McDonald, Neil C.

McElroy, Charles Foster

McGaughey, Hester Grier

McGee, Walter Scott

MacGibbon, Duncan Alexander

Machen, John Gresham

McIntosh, Donald Howard

McKenzie, Floyd Stanley

McKinley, Alexander Daniel

McKinley, Gertrude

Kinney, Winfield Scott

McLean, Earl

MacLean, Murdoch Haddon

McLean, Simon James

Maclear, John Fulton

McMullen, Samuel

MacQueary, Thomas Howard

Magee, James Dysart

Magee, James Edward

Mangold, George Benjamin

Manly, Basil Maxwell

Mann, Albert Russell

Marsh, Benjamin Clarke

Martin, Asa Earl

Martin, William Chaille

Marxen, William Bartenick

Matheny, Francis Edmund

Mather, Arlen Raymond

Matlock, Ernest

Maw, Vung Tsoong

Maynard, Archibald Benton

Meade, Edward Sherwood

Meek, James Rariden

Menge, George John

Merrell, Oscar Joe

Merritt, Albert Newton

Merry, Paul Horace

Miller, Christian A.

Miller, Clarence Heath

Miller, Edmund Thornton

Miller, Frieda Segelke

Miller, Roy Newman

Miller, Wiley Austin

Million, John Wilson

Millis, Harry Alvin

Mills, Florence Howland

Mitchell, James Ennis

Mitchell, Wesley Clair

Moffat, James Ernest

Monroe, Paul

Montgomery, Louise

Montgomery, Stafford

Moore, Blaine Free

Moore, Stephen Halcut

Morris, Robert

Mosser, Stacy Carroll

Moulton, Harold Glenn

Mumford, Eben

Munn, Glenn Gaywaine

Nagley, Frank Alvin

Nash, Walter Dudley

Naylor, Augustine Francis

Neff, Andrew Love

Neill, Charles Patrick

Nesbitt, Charles Rudolph

Newton, John Reuben

Nida, William Lewis

Niece, Ralph Harter

Northrup, John Eldridge

Norton, Elvin Jensen

Norton, Grace Peloubet

Nourse, Edwin Griswold

Noyes, Edmund Spencer

O’Brien, Charlotte Louise

O’Dea, Paul Montgomery

O’Hara, Frank

Okada, George F.

Olin, Oscar Eugene

Padan, Robert Samuel

Paden, Thomas Hosack

Parker, Bertrand De Rolph, Jr.

Parker, Norman Sallee

Parker, Robert Lincoln

Parker, Ulysses Simpson

Parish, Charles O.

Paschal, Rosa Catherine

Patterson, Ernest Minor

Patton, Eugene Bryan

Pattrick, John Hezzie

Payne, Walter A.

Peabody, Susan Wade

Pease, Theodore Calvin

Pease, William Arthur

Perrine, Cora Belle

Peterson, Otto Edward

Phillips, Ulrich Bonnell

Pierce, Paul Skeels

Polzin, Benzamin Albert

Porter, Nathan Tanner

Potts, Charles Shirley

Powell, Bert Eardly

Powell, Leona Margaret

Prescott, Arthur Taylor

Price, Maude Azalie

Primm, Clarence J.

Putnam, James William

Putnam, Mary Burnham

Quaintance, Hadley Winfield

Rabenstein, Matilda Agnes

Radcliffe, Earle Warren

Rainey, Alice Hall

Reasoner, Florence

Reed, Ralph Johnston

Refsell, Oscar Norton

Reighard, John Jacob

Remick, Mary Ethel

Remp, Martin

Renninger, Warren Daub

Reticker, Ruth

Rice, Dorothy Lydia

Richardson, Russell

Richey, Mary Olive

Richter, Arthur William

Riley, Elmer Author

Ristine, Edward Ransom

Robertson, James Rood

Rogers, May Josephine

Rosenberg, Edwin J.

Rosseter, Edward Clark

Rygh, George Taylor

Sanderson, Dwight

Sandwich, Richard Lanning

Schafer, Joseph

Scheftel, Yetta

Schloss, Murray L.

Schmidt, Lydia Marie

Schmidt, Otto Gustave

Schmitt, Ella

Schoedinger, Fred H.

Schroeder, Charles Ward

Scott, D. R.

Scott, Edward Lee

Scott, James M.

Seegmiller, Frederick Snyder

Selian, Avedis Bedros

Sellery, George Clark

Senseman, Ira Roscoe

Seward, Ora Philander

Shaw, George Washington

Shelton, William Arthur

Shepherd, Fred Strong

Shoemaker, Lucile

Shue, William Daniel

Sikes, George Cushing

Simons, Frederick Myerle

Sinclair, James Grundy

Singer, Martin

Skelton, Oscar Douglas

Slemp, Campbell Bascom

Smith, Almeron Warren

Smith, Gerard Thomas

Smith, Guy Carlton

Smith, Roy

Smith, Walter Robertson

Smyser, Seldon Frazer

Snavely, Charles

Sorenson, Alban David

Sorrell, Lewis Carlyle

Sparks, Edwin Erle

Spencer, Simpson Edward

Splawn, William Marshall Walter

Sproul, Alexander Hugh

Stark, William Belle

Stearns, Tilden Hendricks

Steiner, Jesse Frederick

Stephens, George Asbury

Stephenson, George Malcolm

Sterns, Worthy Putnam

Stevens, William Spring

Stone, Raleigh Webster

Stoneberg, Philip John

Stoner, Thurman Wendell

Stowe, Frederick Arthur

Stuart, Henry Waldgrave

Styles, Albert Frederick

Sullivan, Margaret Veronica

Sundstrom, Ingeborg

Sutherland, Edwin Hardin

Swan, Laurence Wardell

Swanson, William Walker

Swift, Elizabeth Andrews

Sydenstricker, Edgar

Tajima, Kazuyoshi

Takimoto, Tanezo

Tan, Chang Lok

Tanner, Alvin Charles

Tarr, Stambury Ryrie

Taylor, Archibald Wellington

Taylor, William G.

Temple, Frances Congdon

Teng, Kwangtang

Textor, Lucy Elizabeth

Thomas, David Yancey

Thompson, Carl William

Thompson, Charles Sproull

Thompson, Edwin Elbert

Thompson, John Giffin

Thorne, Florence Calvert

Thornhill, Ernest Algier

Thurston, Henry Winfred

Tiffany, Orrin Edward

Tilton, Howard Cyrus

Towle, Ralph Egbert

Towne, George Lewis

Treleven, John Edward

Tunell, George Gerard

Tunnicliff, Helen Honor

Turner, Mary

Updegraff, Elizabeth

Valgren, Victor Nelson

Varkala, Joseph Paul

Vassardakis, Cleanthes Aristides

Veblen, Thorstein B.

Vernier, Chester Garfield

Vogt, Paul Leroy

Vondracek, Olga Olive

Waldo, Karl Douglas

Waldorf, Lee

Waldron, George Burnside

Walker, Edson Granville

Walling, William English

Walrath, Albert Leland

Waltz, Merle Bowman

Wardlow, Chester Cameron

Ware, Richard

Warren, Henry Kimball

Warren, Worcester

Watson, Robert Eli

Watts, Cicero Floyd

Weaver, Samuel Roy

Webster, Arthur Ferdinand

Webster, William Clarence

Weisman, Russell

Wells, Emilie Louise

Wells, Oliver Edwin

West, Max

West, Victor J.

Westlake, Ruby Moss

Weston, Jessie Beatrice

Wethington, Joseph Francis

Whipple, Elliot

Whitaker, Hobart Karl

Whitcomb, Adele

White, Francis Harding

White, Henry Kirke

White, Laura Amanda

Whited, Oric Ogilvie

Wilcox, William Craig

Wildman, Murray Shipley

Willard, Laura

Williams, Arthur Rowland

Williams, Charles Byron

Williams, Frank North

Williams, John William

Williams, Pelagius

Willis, Henry Parker

Wilson, Eugene Alonzo

Winans, Clarence Henry

Winston, Ambrose Pare

Winston, James Edward

Wirt, William Albert

Witmer, John Earl

Woods, Erville Bartlett

Woolley, Edwin Campbell

Wright, Helen Russell

Yahn, Harold George

Yeisaku, Kominami

Youngman, Anna Pritchett

Zaring, Aziel Floyd

Zee, Treusinn Zoen

Zimmerman, John Franklin

___________________________________

 

DOCTORS OF PHILOSOPHY OF THE UNIVERSITY OF CHICAGO
DEPARTMENT OF POLITICAL ECONOMY

Edith Abbott (1905)

A Statistical Study of the Wages of Unskilled Labor in the United States, 1830-1900.

Charles Criswell Arbuthnot (1903)

The Development of the Corporation and the Entrepreneur Function.

Donald Elliott Bridgman (1907)

Economic Causes of Large Fortunes.

John Cummings (1894)

The Poor Law System of the United States.

Herbert Joseph Davenport (1898)

The French War Indemnity.

Katharine Bement Davis (1900)

Causes Affecting the Standard of Living and Wages.

William John Alexander Donald (1914)

The History of the Canadian Iron and Steel Industry.

Henry Rand Hatfield (1897)

Municipal Bonding in the United States.

Earl Dean Howard (1905)

The Recent Industrial Progress of Germany.

Robert Franklin Hoxie (1905)

An Analysis of the Concepts of Demand and Supply in Their Relation to Market Price.

Edgar Hutchinson Johnson (1910)

The Economics of Henry George’s Progress and Poverty.

Stephen Butler Leacock (1903)

The Doctrine of Laissez Faire.

Isaac Lippincott (1912)

The Industrial History of the Ohio Valley to 1860.

Duncan Alexander MacGibbon (1915)

Railway Rates and the Canadian Railway Commission.

Simon James McLean (1897)

The Railway Policy of Canada.

James Dysart Magee (1913)

Money and Prices: A Statistical Study of Price Movements.

Albert Newton Merritt (1906)

Federal Regulation of Railway Rates.

Harry Alvin Millis (1899)

History of the Finances of the City of Chicago.

Wesley Clair Mitchell (1899)

History of the United States Notes.

Harold Glenn Moulton (1914)

Waterways versus Railways.

Edwin Griswold Nourse (1915)

A Study in Market Mechanism as a Factor in Price Determination.

Robert Samuel Padan (1901)

Studies in Interest.

Eugene Bryan Patton (1908)

The Resumption of Specie Payment in 1879.

Oscar Douglas Skelton (1908)

An Examination of Marxian Theory.

George Asbury Stephens (1909)

Influence of Trade Education upon Wages.

Worthy Putnam Sterns (1900)

Studies in the Foreign Trade of the United States.

William Walker Swanson (1908)

The Establishment of the National Banking System.

George Gerard Tunell (1897)

Transportation on the Great Lakes of North America.

Murray Shipley Wildman (1904)

The Economic and Social Conditions Which Explain Inflation Movements in the United States.

Henry Parker Willis (1898)

A History of the Latin Monetary Union.

Anna Pritchett Youngman (1908)

The Economic Causes of Large Fortunes.

___________________________________

 

A STATISTICAL RECORD OF GROWTH
1892-1916

1916_UCRecordGrowth

 

Source: James Laurence Laughlin, Twenty-Five Years of the Department of Political Economy, University of Chicago. Chicago: Privately printed, 1916.

Image Source: “JLL” initials from the title page, ibid.

 

 

Categories
Chicago Curriculum

Chicago. Faculty and Course Offerings in the beginning, 1893/94.

 

 

The University of Chicago’s first academic year was 1892/93. The first annual publication of the University Register announced the course offering for 1893/94. This is close enough to the big bang of the department of political economy founded by J. Laurence Laughlin for most purposes. I have added some biographical data on the faculty taken from the following year’s Register. That biographical information is placed within brackets. Otherwise, as in most other transcriptions, I have attempted to give the “look and feel” of the original formatting.

_______________________

The following abbreviations are used in the list of Courses of Instruction:

M=Minor. DM=Double Minor. MM=Major. DMM=Double Major.

Courses marked with a star (*) are intended exclusively or primarily for Graduate Students. Courses the numbers of which are enclosed in brackets [ ] are not given in 1893-4.

_______________________

 

II. THE DEPARTMENT OF POLITICAL ECONOMY.

OFFICERS OF INSTRUCTION.

J. LAURENCE LAUGHLIN, PH.D., Head Professor of Political Economy.

[A. B., Harvard University, 1873; A. M. and Ph. D., HarvardUniversity,1876. Master in Private Classical School, 1873-8; Instructor in Political Economy, Harvard University,1878-83; Assistant Professor in Political Economy, Harvard University, 1883-8. Secretary and President of the Philadelphia Manufacturers’ Mutual Fire Insurance Co.,1888-90; Professor of Political Economy and Finance, Cornell University, 1890-2; Editor of the Journal of Political Economy.]

EDWARD W. BEMIS, PH.D. University Extension Associate Professor of Political Economy.

[A. B., Amherst College, 1880, and A. M., 1884; Ph. D., Johns Hopkins University, 1885; Lecturer, Amherst College, 1886; Vassar and Carleton Colleges and Ohio University, 1887; Vanderbilt University, 1888-9; Northwestern University, 1892; Adjunct Professor of History and Economics, Vanderbilt University, 1889-92; Secretary of the Training Department, University of Chicago, 1892-4.]

ADOLPH C. MILLER, A.M., Professor of Finance.

[A. B., University of California, 1887; A. M., Harvard University, 1888; Instructor in Political Economy. Harvard University, 1889-90; Lecturer on Political Economy, University of California, 1890-1, and Assistant Professor-elect of History and Political Science in same, 1891; Associate Professor of Political Economy and Finance, Cornell University, 1891-2; Associate Professor of Political Economy. University of Chicago, 1892-3.]

WILLIAM CALDWELL, A.M., D.S., Instructor in Political Economy.

[A. M., pass degree. 1884. A. M., Honors of the First Class, 1886, University of Edinburgh; First place on the Honors List, with Bruce of Grangehill Fellowship, 1886; Student at Jena, Paris, Cambridge, Berlin, Freiburg; Ferguson Scholarship (open to honorsmen of all Scottish Universities), 1887; Assistant Professor of Logic. Edinburgh University, 1888-90; Locumtenens Professor of the Moral Sciences, Cardiff for Winter term of 1888; Sir William Hamilton Fellow, Edinburgh, 1888 for three years; Shaw Fellow, 1890, for five years; Lecturer of University Association for Education of Women, Edinburgh, 1889: Government Examiner for Degrees in the Moral Sciences, St. Andrews University, 1890, for three years; Lecturer on Logic and Methodology, Sage School of Philosophy, Cornell University, 1891-2; Tutor in Political Economy, the University of Chicago, 1892-3; Shaw Lecturer, University of Edinburgh, 1898; Doctor in Mental Science, ibidem, 1893.]

WILLIAM HILL. A.M., Instructor in Political Economy.

[A. B., University of Kansas, 1890; A. B. ,Harvard University, 1891; A.M., ibid., 1892; Lee Memorial Fellow in Harvard University, 1891-3; Instructor in Political Economy, ibid., 1893; Tutor in Political Economy, University of Chicago, 1893-4.]

THORSTEIN B. VEBLEN, PH.D., Tutor in Political Economy.

[A.B., Carleton College, 1880; Graduate student, Johns Hopkins University; Ph.D., Yale University, 1884; Fellow in Economics and Finance, Cornell University, 1891-2; Fellow in the University of Chicago, 1892-3; Reader in Political Economy, ibid., 1893-4.]

ISAAC A. HOURWICH, PH.D., Docent in Statistics.

[Graduate, Classical Gymnasium, Minsk, Russia, 1877; Candidate of Jurisprudence (Master of Law), Demidoff Juridical Lyceum, Yaroslavl, 1887; Member of the Bar, Court of Appeals of Wilno, Russia, 1887-90; Seligman Fellow, Columbia College, 1891-2; Ph.D., ibid., 1893.]

 

INTRODUCTORY.

The work of the department is intended to provide, by symmetrically arranged courses of instruction, a complete training in the various branches of economics, beginning with elementary work and passing by degrees to the higher work of investigation. A chief aim of the instruction will be to teach methods of work, to foster a judicial spirit, and to cultivate an attitude of scholarly independence. (1) The student may pass, in the various courses of instruction, over the whole field of economics. (2) When fitted, he will be urged to pursue some special investigation. (3) For the encouragement of research and the training of properly qualified teachers of economics, Fellowships in Political Economy have been founded. (4) To provide a means of communication between investigators and the public, a review, entitled THE JOURNAL OF POLITICAL ECONOMY, has been established, to be edited by the officers of instruction in the department; while (5) larger single productions will appear in a series of bound volumes to be known as Economic Studies of the University of Chicago.

COURSES.
[1893-94]

1. Principles of Political Economy. —Exposition of the laws of Political Economy in its present state. Mill, Principles of Political Economy, (Laughlin’s edition). Dunbar, Banking.

DM.  Autumn and Summer Quarters.
PROFESSOR MILLER AND MR. HILL.

Open only to students who elect either 1a or 1b in the Winter Quarter.

1a. Advanced Political Economy.—Cairnes, Leading Principles of Political Economy. Marshall, Principles of Economics (vol. I).

DM. Winter Quarter.
PROFESSOR MILLER.

1b. Descriptive Political Economy. —Lectures and Reading on Money, Banking, Coöperation, Socialism, Taxation, and Finance. Hadley, Railroad Transportation. Laughlin, Bimetallism.

DM. Winter Quarter.
MR. CALDWELL.

2. Industrial and Economic History. —Leading Events in the Economic History of Europe and America since the middle of the Eighteenth Century. Lectures and Reading.

2 DM. Winter and Spring Quarters.
MR. HILL.

3. Scope and Method of Political Economy. —Origin and Development of the Historical School. Lectures and Reports.

DM. Winter Quarter.
MR. CALDWELL.

4. Unsettled Problems of Economic Theory. —Questions of Exchange and Distribution. Critical examination of selections from leading writers.

DM. Spring Quarter.
PROFESSOR LAUGHLIN.

5. History of Political Economy. —History of the Development of Economic Thought, embracing the Mercantilists and the Physiocrats, followed by a critical study of Adam Smith and his English and Continental Successors. Lectures and Reading Reports.

DM. Winter and Spring Quarters.
MR. CALDWELL.

6. Economic Factors in Civilization. —Study of the origin of some phases of our present Industrial Conditions. Lectures and Reports.

Summer Quarter.
MR. CALDWELL.

7. Socialism. —History of Socialistic Theories. Recent Socialistic Developments. Critical Review of Theoretical Writers, Programs and Criticisms. Lectures and Reports.

2 DM Winter and Spring Quarters.
DR. VEBLEN.

8. Social Economics. —Social Questions examined from the Economic standpoint:

A.  Poor Laws, and kindred topics to be announced later.

DM. Spring Quarter.
MR. CUMMINGS.

B. Social Reforms—Future of the Working-classes. Immigration. State Interference. Insurance—Legislation. Arbeitercolonien.

DM. Summer Quarter.
ASSOCIATE PROFESSOR BEMIS.

C. Coöperation. Profit-Sharing. Building Associations. Postal Savings. Trade Unions.

DM. Spring Quarter.
ASSOCIATE PROFESSOR BEMIS.

9. Money and Practical Economics. —Training in the Theoretical and Historical Investigation of Important Questions of the Day. Lectures and Theses.

DM. Autumn and Winter Quarters.
PROFESSOR LAUGHLIN.

10. Statistics. —Methods and Practical Training. Organization of Bureaus. Tabulation and Presentation of Results.

DM. Autumn Quarter.
DR. HOURWICH.

11. Advanced Statistics. —Statistics of Prices and Markets.

DM. Winter Quarter.
DR. HOURWICH.

12. Railway Transportation. —History and Development of Railways. Theories of Rates. Combination. Investments. State Ownership or Control. Lectures, Reports, Discussions, and Reading.

2 DM. Autumn and Winter Quarters.
MR. HILL.

13. Tariff History of the United States. —Legislation since 1780. Economic Effects. Political Causes. Lectures and Reports with Discussions. Reading.

Spring Quarter.
MR. HILL.

14. Financial History of the United States.—Rapid Survey of the Financial Experiences of the Colonies and the Confederation. Detailed Study of the Course of American Legislation on Currency, Debts. and Banking since 1789. Lectures and Reports.

DM. Spring Quarter.
PROFESSOR MILLER.

15. Finance. —Public Expenditures. Theories and Methods of Taxation. Public Debts. Financial Administration.

DM. Autumn Quarter.
PROFESSOR MILLER.

16. American Agriculture.—Movements of Prices. Foreign Competition. Changing Conditions of Agriculture. Land Tenure. Lectures, Reading, and Reports.

DM. Autumn Quarter.
DR. VEBLEN.

[17.] Banking. —Comparison of Modern Systems. Study of Principles. Lectures and Theses.

DM.
MR. HILL.

*18. Seminar in Finance.

2 DM. Winter and Spring Quarters.
PROFESSOR MILLER.

*19. Economic Seminar.

3 DM.  Autumn, Winter, and Spring Quarters.
PROFESSOR LAUGHLIN.

 

SOURCES:

University of Chicago, Annual Register. July, 1892—July, 1893 with Announcements for 1893-4, pp. 38, 40-41.

University of Chicago, Annual Register. July, 1893—July, 1894 with Announcements for 1894-5, pp. 11-18, 46-47.