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About Yale Alumni Magazine | View Entire Issue (May 19, 1898)
Vou. Vii: Nese NEW HAVEN, CONN., THURSDAY, MAY 19, 1898. Price Trn Cayrs, A STRONG DEPARTMENT. The Teaching of Political and Social Science at Yale. No better evidence of the growth of the social sciences can be had than that offered by a comparison of the cata- logue of Yale of a half a century ago with that of the present. As the branch- es of this subject have been carefully differentiated and the spirit of scientific inquiry has spread to this field, it has become necessary to put several men in charge of the work formerly success- fully conducted by one. In 1825 we first find instruction given in Political Economy that was limited to lectures delivered before the Senior class during the first two terms. While President Woolsey was at the head of the Uni- versity he took entire charge of this Department, and it was not until 1872. that there was a professorship for this and allied subjects. In the catalogue of that year was the following state- ment: “Professor Sumner will instruct in Political Economy.” Compare this ‘provision for instruction with the con- dition of the Department to-day, when there are twenty-seven courses offered to graduate students by seven men eminent in some special branch of the subject and a fair idea of the advance can be gained. The American college student, as a rule, is interested in the history of the political and financial policy of his country and desires a working knowl- edge of the law of economic forces. To gain this end the general under- graduate courses are well fitted. But there are many who after graduation from College wish to pursue farther their researches along these or some allied lines under the head of political science, and it is for the higher educa- tion of such that this department has been developed at Yale. The graduate student is concerned principally with the nature of the courses offered, with the professors connected with the Department in which he intends to study, and with the opportunities for original work presented by the libraries accessible to him. In charge of the courses in Socie- tology and Anthropology stands Pro- fessor William G. Sumner, who needs no introduction to the reader, for his economic and biographical writings dealing with the history and finance of this country are well known. The works with which the student of Ameri- can politics is best acquainted are prob- ably “The Financier and Finances of the American Revolution,” the lives of Andrew Jackson, Alexander Hamilton and Robert Morris, and “The History of Banking,in the United States.” Of all of his writings, “What the Social Classes owe each other” has had the widest circulation. He has ever been anxious to preserve the financial integ- rity of this country. Valuable assist- ance is rendered to the course in Anthropology by the collections in the Peabody Museum. Although to the outside world Professor Sumner is best known as an author, those who have had the opportunity of working under him will rather remember him as an educator and lecturer. Professor Henry W. Farnam, who is in charge of the Department of Polliti- cal Economy in the Sheffield Scientific School, offers to the graduate student valuable courses in Finance, Labor Organization and Pauperism. He has been much interested in the problem of poor relief and has written quite extensively on this subject. Among his articles along this line are ‘The State and the Poor” and “Progress and Poverty.” Professor Farnam is senior editor of the Yale Review, to which he has been a frequent contributor on questions of finance. The Economic Problems of Corpora- tions and the Relation between Eco- nomics and Ethics are under Professor Arthur T. Hadley. He has been recog- nized as an able writer and close rea- soner ever since the appearance of his “Railroad Transportation’ in 1885, which has been translated into the Rus- sian and French. The course which Professor Hadley offers in this subject to a select number of Seniors, but open to graduate students, is extremely valu- able. In most of the courses under him the student is expected to prepare during the year one or more papers to be read before the class. In the recent publication of his “Economics” there has been given not only a new text book for college men but a work which the man of business can read. with enjoyment. He was formerly Com- missioner of Labor Statistics of the State of Connecticut. Professor William F. Blackman, al- though connected with the Theological School, offers several courses to the graduate students. In connection with these there is given the opportunity for the inspection of the working of the charity organizations of this city and New York. The courses offered by Assistant Professor John C. Schwab are intended to give the student a general knowl- edge of the fundamental principles of taxation and finance, together with a broad outline of the financial and in- dustrial history of this country. He is a recognized authority on the finances of the Confederate States and has writ- ten extensively along this line. He also offers a course on this subject, which is the only one to be found in the catalogue of any American univer- sity. Professor Schwab is the active editor of the Vale Review. Of his earlier writing, the ‘History of the New York Property Tax” was the most elaborate. Assistant Professor Irving Fisher is interested chiefly in the theory of Poli- tical Economy and has written con- siderably along this line; his ‘“Appreci- ation and Interest” and, more recently, the series of articles on Capital have been favorably received. From the study of his “Theory of Value and Prices’ we can see how he has applied to the problems of Political Economy the principles of Mechanics and Hydro- statics. Professor Fisher has prepared an introduction to Infinitesimal Cal- culus. Believing that the study of Economics is at many points rendered much clearer by the applications of Mathematics, he offers a course on the Principles of Economics, to which this method of treatment is applied. He is in charge of a course in the formation of life insurance tables and general statistics. Principal George L. Fox, of the Hopkins Grammar School, offers a course on Comparative Municipal Gov- ernment, and by approaching the sub- ject from-a practical point of view would teach the duties of the student in politics. -As a result of the increasing size of the classes in this Department, it has been thought advisable to appoint as- sistants, who shall relieve the profes- sors of part of the care of the class- room. In this capacity are Dr. William B. Bailey, who has specialized in Soci- ology, Mr. George K. Olmstead in Finance, and Mr. John M. Gaines, who is interested in the mathematical inter- pretation of Economics. In order to further the development of Political* Science in the University, there was published in May 1802 the first number of the Vale Review, which has since become one of the leading economic journals of the country. The with magazine is edited by the professors in this Department, including Professor Edward G. Bourne of the Department. “Committed to no school and to no party, but only to the ad-. vancement of sound learning, it aims to present the results of the most sci-. entific and scholarly investigations in of History. Political Science.”.. The. Review ap- pears quarterly, and about seventy pages of the body of the magazine are filled by the contributions of econo- mists who are, as a rule, not connected. with the University. These are pre-- ceded by several pages of editorial comment, generally devoted to the dis- cussion of questions of the day, and are followed by notes. A number of the most recent works that have ap- peared in the field of Economics or History are reviewed in each number. Among the list of contributors to the Review are Taussig, Levasseur, Fia- mingo;). B. Clark, Ex Le BR. Gould Gen. Walker, Pres: Andrews. -T. oS Woolsey, G. P. Fisher, Horace White, Schouler, Mayo Smith and Seligman. One of the most useful adjuncts to this Department is the Political Science Club, formed of the faculty and gradu- ate students interested in general eco- nomics. The meetings, which are held every two weeks, are occupied with the discussion of questions of the day or with the reading of one or more papers on any subject of interest to the mem- bers. Owing to the generosity of Pro- fessor Farnam, the society has a room very tastefully furnished and provided a good working library. The room is open to members at all hours, and as the library is composed largely of reports and works in general de- mand, it is admirably fitted for pur- poses of reference. In 1896 there was given to the Uni- versity in memory of Mary, the wife of Mr. S. W. Boocock, a fund, the income of which should be used to pur- chase books for the assistance of those studying in the Department of the Social Sciences. Professor Sumner has charge of this library, and not only can any book on the shelves be drawn by the graduate students working under him, but works are often purchased for it at the request of those engaged in the special research of some subject in this field | a ee Class of Ninety Scholarship. A committee of the Class of Ninety, composed of Thomas F. Bayard, Jr., Willard Parker, Jr., Herbert Parsons and James Locke, has undertaken to raise funds in the Class for the estab- lishment of a.research scholarship in the Post Graduate Department, to be known as the “Scholarship of the Class of 1890.” It will be in effect next year. The scholarship is intended to be available for five years, and the money, which will be raised by sub- scription, will probably not fall below $150.00 for each year. The following conditions govern it: I The disposal of the Scholarship shall be determined by the Faculty’s Committee on Scholarships. It shall not be confined to any one course of studies, but be open to any student of the Post Graduate Department who is engaged in research work. 2. The Scholarship may be held by one and the same student for more than one year, at the discretion of the Facul- ty. But no student shall receive it for two sticcessive years, whose studies during the first year of its possession shall not have led to publishable results. The courses of study selected by the members of 1901 for next year, as shown by the 288 choices reported, were as follows: English, 280; Latin, 266; Mathematics, 219; Physics, 217; Greek, 169; French, 149; German, 130. MONEY CAME EASILY, Cruiser Fund Committee Ready to Pay for Maxims and Colors, The Yale Cruiser Fund Committee have stopped asking for money. Thee have been ready for several’ days to meet the bill for the brace of rapid fire guns, without asking a guarantor for a cent. - Besides that, the money that has come in and has been already promised by various associations, will allow for a magnificent stand of colors in fifty-one different pieces and pay all cost of col- lection. The probabilities at this writing are in the direction of a surplus, even after this second gift. It would not have been difficult to secure money for the whole battery of the Yale. A meeting of the University, includ- ing all graduates who can attend, has been called for Friday evening of this week in College Street Hall at 7.15 p.M. The first definite and complete report from the Cruiser Fund Com-. mittee will then be made and resolu- tions will be presented formally thank- ing the government for the honor done to Yale in the naming of the cruiser, and formally tendering the guns (al-. ready informally accepted and doing duty on the boat) and the stand of colors. The latter is now in process of construction and will be placed on board at the first opportunity. A few informal speeches will probably be. made by graduates and undergraduates. Until this meeting the committee are not willing to make. a. detailed state- ment of the work and the returns, so that it will not be possible to give any other than the ‘general’ facts already noted in this issue or the WEEKLY.. Suffice it to say that the fund took its particularly long leaps within the last few days. Associations and cities were not content with the sum_ requested, and in many cases went beyond “it. New York has already done better. than its assessment by a thousand dollars. The committee feel perfectly sure that the whole sum would have been raised on the dollar basis, if there. had: been sufficient. time to work the. machinery of collection. The amounts received have varied from one dollar to -two hundred dollars. There have been a few one hundred dollar contributions and a number. have subscribed _ fifty dollars each: But the great majority have been of moderate size, and a very large part of Yaledom is represented in the total. oa 3 One communication has beet ne ceived objecting to the idea of the gift, and that was anonymous. DR. DEPEW ON THE’ COMMITTEE. When the committee was first organ- ized, Dr. Chauncey M. Depew, ’56, was asked to be one of its members. Through an unavoidable delay his ac- ceptance did not reach the committee until a few days ago. Dr. Depew has heartily and substantially endorsed and furthered the work. The students here and Yale men everywhere have followed with the utmost interest the successful work of the Yale. This has undoubtedly helped in gathering in the money so fast. The successful voyage across the Atlantic after war was declared, the first report of the bombardment of San Juan, the first news for Washington of the whereabouts of the Cape Verde fleet, so-called, which the Yale traced off Martinique, and the capture of the prize,—the first by any auxiliary crwuiser —have all increased the enthusiasm for the gift.
