Word: sumners
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...only provincial rating until J. Pierpont Morgan's bequest put it on the map in 1917 with handsome bronzes, silver and porcelain, including the largest collection of 18th century Meissen figurines in the U.S. A surprise $2,000,000 in 1927 from Hartford Banker Frank C. Sumner ("He used to drive out in a purple Rolls-Royce to see the Hartford Chiefs play baseball, but as far as we know he never walked into the museum in his life") gave the Atheneum the bank account it direly needed. Looking for an out-of-vogue period in which...
Businessmen found less cheery news on the credit front. Money was about as tight as in November, when the Federal Reserve Board cut its discount rate from 3½% to 3%, and there was a growing grumble of complaint about it. Last week Harvard Economist Sumner Slichter added his voice. Tight money, said he, is actually defeating the Fed's purpose of fighting inflation. Wrote Slichter in Business Scope, a biweekly published by professors: "The present recession is largely the result of overdoing credit restraint, and is causing us to consume valuable inventories of goods and to reduce...
...donations), read some "rather grim" Ransom works to the audience of 750, then sat back to enjoy an auction of books and literary curios. Most curious curio, one of a batch of letters sent over the years to various magazine editors: a terse note from Calvin Coolidge to Sumner Blossom, onetime editor of American Magazine. Wrote Cautious Cal: "I have not written anything on the subject to which you refer and do not expect to write anything on it. In giving you this information I am trusting that you will not make any improper...
...report, which criticized the Eisenhower Administration for its tight money policies and alleged consequent favoritism of large corporations over farmers and small businessmen, was itself critized yesterday by Sumner H. Slichter, Lamont University Professor...
Prominent among the limited inflationists is Harvard's Professor Sumner H. Slichter. The U.S. has had a rising price and wage level almost from its infancy, he argues, simply because an expanding economy steadily bid up the prices of labor and materials. Both sides agree that in a perfectly run economic world it might be possible to avoid inflation if wage rates, labor productivity and profits all rose together in direct proportion to output. But even the classic economists foresee no such perfect world. Thus, if the U.S. is to continue to expand, the prices of labor and materials...