Here is what I wrote up: 
 
Melchior Palyi was born in Budapest, Hungary on March 14, 1892. When he died in Chicago on
July 28, 1970 he had had three careers: business and banking, university lecturer, and
columnist.
 
Palyi received his Master's in Law from the University of Budapest and the doctorate in
economics from the University of Munich in 1915. He worked at the Austro-Hungarian
National Bank and the Hungarian Ministry of Agriculture between 1915 and 1918. During
1921-1923 he taught at the Universities of Gottingen and Kiel and at the Handelshochschule
in Berlin (where Roy F. Harrod attended his lectures).
 
During 1926-1928 he was a visiting professor at Oxford, the University of California at
Los Angeles, and Chicago.  He served as chief economist of the Deutsche Bank during 1928-
1933 and advisor to the Reichbank and managing director of its Institute for Monetary
Research during 1931-1933.
 
Upon the ascendancy of the Nazis to power in 1933, he emigrated first to the United
Kingdom--serving as guest economist at Midland Bank and lecturer at University College,
Oxford--and then to the United States, serving again as a visiting professor at the
University of Chicago between 1933-1937 and, after 1940, as lecturer at Northwestern
University. Palyi was a columnist for the Chicago Tribune during 1961-1968 and for the
Commercial and Financial Chronicle during 1968-1970. In the 1956 Handbook of the American
Economic Association he self-identified his fields as international economics, and money,
credit and banking.
 
His books included Principles of Mortgage Banking Regulation in Europe (1934),  The
Chicago Credit Market: Organization and Institutional Structure (1937), Creeping Paralysis
of Europe (1947), Compulsory Medical Care and the  Welfare State (1950), The Dollar
Dilemma: Perpetual Aid to Europe? (1954), Managed Money at the Crossroads (1958), An
Inflation Primer (1961), and The Twilight of Gold, 1914-1936: Myths and Realities (1972).
Palyi was a contributor to Adam Smith, 1776-1926 (1928), having earlier been co-author of
Hauptprobleme der Soziologie: Erinnerungsgabe f=FCr Max Weber in Gemeinschaft (1923) and
co-author and compiler of Lujo Brentano: Eine Bio-bibliographie (1924). A search on JSTOR
indicates the following record: journal articles, 7  (2 AER, 1 JPE, 3 JBUC, 1 QJE); panel
discussions, 4 (all AER); book chapter,  1; book reviews, 36 (27 JPE, 7 JBUC, 1 APSR, 1
JFIN; reviews of his books, 7;  citations to him or his work, 14; his reply, 1.
 
Palyi was a committed supporter of the gold standard and an opponent of central-bank
monetary management (including G. F. Knapp's "state theory of money"), especially of John
Maynard Keynes, and of any institution that he perceived to be socialist in nature.
 
Warren J. Samuels 
 
Humberto Barreto 
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