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From:
[log in to unmask] (Masazumi Wakatabe)
Date:
Fri Mar 31 17:18:42 2006
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Dear Professor Klausinger, 
 
I have found two newspaper articles regarding your queries. 
 
> As announced in the preceding posting, I have two more queries. 
>  
> In a column on "The fight about inflation in America" (written Nov  
10,  
> 1933) Fritz Machlup refers to a memorandum (or "declaration") by  
eight  
> university professors from Chicago, Wisconsin, Michigan, and Ohio.  
> According to Machlup, in this memorandum, a critique of the policies  
> pursued by the Roosevelt administration, these professors state that  
"the  
> opinions of single economists, so influential at this time [that is,  
those  
> favouring Rossevelt's 'monetary experiments'], must not be considered  
the  
> representative view of monetary economists" (my translation). 
 
See "Open Fight On Gold Plan Of President Is Organized," The Washington  
Post, Nov.4, 1933, p.1-2. 
 
Although the statement was associated with 12 economists from western  
region, it reads: "Proposals for radical experimentation with our  
currency are being put into operation under the pressure of organized  
groups promoting the views of individual economists who, whatever their  
general qualifications may be, do not reflect the opinions of  
representative professional students in the monetary field".  
 
> In another column ("Blame the professors", written Dec 1933,  
unpublished)  
> Machlup mentions another memorandum, critical of Roosevelt's policy.  
He  
> refers to it as "the memorandum of the professors of the Columbia  
> University, authored by Professor [Benjamin H.] Beckhart and signed  
by 38  
> [economists]". 
 
See "Columbia Experts Oppose Gold Plan," The New York Times, Nov.28,  
1933, p.17. This has all 38 names of Columbia faculty economists. 
 
Masazumi Wakatabe  
Waseda University 
 
 
 

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