Word: rainey
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...Students are better off without the courses in economics taught in colleges. A man trained in this field comes into the new era tremendously handicapped." This is the opinion of the Honorable Henry T. Rainey, Speaker of the House of Representatives, who was interviewed by a CRIMSON reporter just previous to the opening of the Seventy-third Congress...
...regard to fields of concentration which would be advantageous in preparing for a political career, Speaker Rainey said, "There is always value in majoring in history, but never in government. From a study of history and of present developments, the student should formulate his own ideas of the proper conduct of a government. In the study of history, there is cultural training and mental discipline, enabling the student to look forward to problems of the future...
Commenting upon Public Service, Speaker Rainey remarked, "Before considering such a career, a young man should have an assured income--something to fall back upon. Civil Service positions are obtained as a result of passing an examination and of an appointment by a departmental head. When the office-holder has reached the age of 60, he may be earning a salary of $4,000, and then he is gradually demoted. As there is little future in this division, I always advise young men against choosing it as a life occupation...
...conclusion, Speaker Rainey said, "Better than ever before is the opportunity for men with trained minds. Do not, however, train your mind in the study of economics. It is better to solve problems for yourself after acquiring correct habits of study...
Meanwhile at Manhattan's Economic Club the night before the President's monetary policy and those who back it once more came under critical discussion. First speaker was Senator Elmer Thomas of Oklahoma. No. i Inflationist of Congress. Next House Speaker Rainey flayed Hard Moneyman Sprague for flouncing out of Washington as a presidential ad- viser. Frank Arthur Vanderlip, ex-banker and onetime enthusiast for Technocrat Howard Scott, burbled his delight at the President's monetary experiment. To answer them up rose the fourth and last speaker, James Paul Warburg. 37-year-old vice chairman...