Word: inventor
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Dates: during 1930-1939
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Proprietor of this "Franklin Terrace" Project is the Princeton Housing Authority, from which Inventor Lambert accepted tax-exempt bonds for his $30,000. They will be amortized over 28 years and meanwhile pay him 4% interest each year on the balance outstanding. After 28 years the land & buildings will become the Borough of Princeton's property, Inventor Lambert will have his $30,000 back, and the Franklin Terrace occupants will have had brand-new Housing nowhere else available at $6.25 per room per month (plus $3 per month per unit for heat...
...explaining his creation as a model for national use, Inventor Lambert stressed these points...
President Roosevelt last week (just before elections) shied off all suggestions of tax-exemption in his aloof discussion of the Lambert Plan, but Inventor Lambert had an argument appealing to more than one New Dealer: tax exemption would cost the Government nothing, since much of the capital contemplated for the vast Housing market of Phase No. 5 is now lying idle and untaxed anyway, and the stimulation to industry would increase the revenues of the Treasury...
Founded in 1859 by Inventor Peter Cooper, who built the first U. S. locomotive ("Tom Thumb"), Cooper Union still bears many marks of its picturesque founder. He created it as an institution to teach engineering and art free to the children of the poor. Almost forgotten are some of Peter Cooper's pious stipulations: e.g. "I trust that the students of this institution will do something to bear back the mighty torrent of evils now pressing on the world...
Today Cooper Union is less renowned than in Cooper's day, when it produced such illustrious bearer-backers of the world's evils as Sculptor Augustus Saint-Gaudens, Inventor Michael Pupin, Unionist Samuel Gompers. But 1,800 students in its free art and engineering schools (with day and evening branches), picked from seven times as many applicants, still grub earnestly at their education...