Studies in State Taxation with Particular Reference to the Southern States, by Graduates and Students of the Johns Hopkins University
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War Borrowing; a Study of Treasury Certificates of Indebtedness of the United States
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Founding of the Cincinnati Southern Railway with an Autobiographical Sketch
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Jacob Harry Hollander was an American economist. He served as a professor of economy at Johns Hopkins University, secretary to the Bimetallic Commission of 1897, and also treasurer of the island of Puerto Rico.
Background
Jacob Harry Hollander was born on July 23, 1871 in Baltimore, Maryland, United States. He was the second son and third of four children of Meyer and Rosa (Meyer) Hollander. His father, a paint manufacturer, was a native of Bavaria; his mother was a Philadelphian.
Education
Hollander received his preparatory education in local public and private schools except for a year at the Pennsylvania Military Academy, to which he owed his later erect bearing and careful attention to dress. He graduated from the Johns Hopkins University (Bachelor of Arts, 1891) and, armed with letters of introduction to James Bonar, Henry Higgs, and other leading English economists, spent the next summer making the first of many fruitful visits to London's scholars, the British Museum, and antiquarian book stores, Returning to Hopkins for graduate work in political economy, history, and political science, he received the Ph. D. degree in 1894.
Though he studied with John Bates Clark, Hollander's principal teachers were Herbert Baxter Adams and Richard T. Ely, who illustrated the method of original inquiry readily turned to practical application.
Career
Joining the Hopkins teaching staff in 1894 as assistant in political economy, Hollander advanced rapidly through the academic grades, becoming professor in 1904. Almost from the first he accepted a variety of governmental assignments--foreign, national, state, and municipal. The first of these was an appointment by President McKinley as secretary of the Bimetallic Commission (1897), charged with negotiating a monetary agreement with the leading countries of Europe. In Baltimore, of which he was always a loyal citizen, he served in 1900 as chairman of the municipal lighting commission. In the same year he was sent as a special commissioner to revise the tax laws of the newly acquired island of Puerto Rico, and while thus engaged he was appointed treasurer of the island government. He devised and introduced a new revenue system (the Hollander law) and resigned in August 1901 when it was in successful operation. His general property and excise levies immediately began to solve what he called "the conspicuous problem of public financing in Puerto Rico--prompt collection of taxes from those who can pay, but will not, instead of from those who would pay, but cannot. "
In 1904 he performed a similar service to fiscal transition in the Indian Territory (later a part of Oklahoma), where he went as special agent of the Department of the Interior to inquire into social needs, especially the support of schools.
Hollander's most notable accomplishment in the field of financial reorganization, however, was in the Dominican Republic. Dispatched by President Theodore Roosevelt in 1905 to investigate the public debt of that Caribbean state, he remained for two more years as confidential agent of the State Department and then served as financial adviser of the Dominican government until 1910. Foreign creditors were clamorous, the Dominican government was unable to meet its domestic requirements, and the United States was preparing to conclude a treaty extending a financial protectorate. The fact that President Roosevelt placed the cruiser Chattanooga at his emissary's disposal suggests the ebullient White House resolve to vindicate the Monroe Doctrine. But Hollander, by on-the-spot knowledge and resourcefulness informed with tact, established Dominican credit and thereby reassured all governments without infringement of the Republic's sovereignty. The protectorate treaty provided that the United States should supervise the collection of import duties, fifty-five per cent of the proceeds to go to the holders of adjusted debt claims and forty-five per cent to domestic needs. The agreement, however, could not in fact have operated without Hollander's diplomacy. In negotiations with protective committees in London, Paris, and Amsterdam he succeeded in reducing $30, 000, 000 of bonds to $17, 000, 000 and then secured a new loan at five per cent. Meantime Hollander's scholarly research and teaching did not suffer, for his public engagements entailed few protracted absences from the university.
In the summer of 1901 both Herbert B. Adams and Sidney Sherwood died, the latter Hollander's senior in his chosen field, and at the beginning of the academic year Hollander took over direction of the first independent economics seminar at Johns Hopkins. His associate, then and without interruption for almost forty years, was George E. Barnett. Complementary talents joined them in professional partnership and personal affection; their students and colleagues rarely thought of one without the other. In place of the traditional scattered inquiry, Hollander and Barnett focused their seminar on a single field, the history and functioning of organized labor in America, beginning a systematic assemblage of trade-union journals and documents as source materials and supplementing them with field study, a requisite beyond the financial competence of students but one which Hollander found friendly funds to support. Mere surmise or philosophical speculation bore no part in the mounting number of scientific monographs which issued from the group, establishing Johns Hopkins at that period as the chief center for knowledge of labor activities. After a quarter of a century the seminar broadened its scope to include public and corporate finance, commercial organization, and economic history, but insistence on examination of original sources remained the same. Hollander's versatility, in equipment and curiosity, was equal to this amplification of program. He was equally at home in the subjects of public finance, international trade and exchange, the money market, and the development of economic doctrines, to all of which he made original contributions.
The succeeding years demonstrated the success with which he maintained his credit as an economist while voicing ever more liberal tenets. Some candor had been required to declare to the Industrial Relations Association in 1921, amidst a sharp reaction in economic opinion, that labor unions should be encouraged instead of hindered. In the same year, as president of the American Economic Association, he urged that professional economists be given a part in government policy-making.
Several of his briefer books set forth his progressive program: The Abolition of Poverty (1914), American Citizenship and Economic Welfare (1919), and Want and Plenty (1932).
Intermittently throughout his professional life he worked on a favorite project, a life of David Ricardo, which was incomplete at the time of his death from cancer. He was buried in Har Sinai Cemetery, Baltimore.
Though before and later in his life Hollander was a party Republican, he supported Theodore Roosevelt's "Bull Moose" campaign for the presidency in 1912.
In 1932, at a law-observance dinner in Washington, he defended prohibition on grounds of national, economic, and social well-being. In the same year he told the League of Women Voters that human suffering in the depression resulting from World War I compelled him to be a pacifist under any and all circumstances. He was not for scrapping capitalism without a reliable substitute, but he warned that economists the world over were attentive to the progress of events in Soviet Russia. On the other hand, he dogmatically opposed United States entry into the League of Nations and, true to his Republican loyalties, served on the staff of the Republican National Committee in Harding's campaign and accepted office in the anti-New Deal American Liberty League of 1936.
Personality
Hollander was slightly below medium height, solidly built, with unusually mobile features. His skills, remarkable for their apparent spontaneity, sprang from his grasp of principles, which, in his view, were few and fundamental. With his knowledge and penetration went a gift of expression. What he said and wrote, even for the minor occasion, was marked by animation and finish. He delighted in selecting from his rich vocabulary just the right word, but this verbal precision was only the sign of his eloquence of conception. He made drama of the "dismal science. " His profundity was invested with humor; his most studied deliverance was punctuated with surprises. Much of this quality is recorded, for he habitually committed to paper, and generally to print, the addresses, reports, and opinions he was called upon to give. But his lively conversation and the sallies in his endless sham battle with his colleague Barnett--no mean opponent--live only in the memory of his hearers.
If possible, he was more solicitous for his students and junior colleagues, whose careers he aided beyond the call of duty. He was collecting rare economic books and pamphlets, both for the university and for his own distinguished private library, a scientific pursuit which illumined his teaching and was reflected in much that he wrote.
Interests
An ardent fisherman, Hollander found relaxation in excursions to nearby Chesapeake Bay, as well as to Catalina, Manteo, and Florida.
Connections
Hollander married on January 22, 1906, Theresa Gutman Hutzler of Baltimore, who shared his interests and added her own appreciation of music and the pictorial arts. Her death in 1916, after a brief illness, was a grief never repaired. Devotion to their three children--Rosamond Hutzler, David Hutzler, and Bertha Hutzler--and, after a time, full resumption of his professional responsibilities restored Hollander outwardly.