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Wrong Oliver Sprague?

Oliver W. Sprague

Professor of Banking

Harvard University

HQ Phone: (617) 349-3600

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Harvard University

12 Oxford St. # 373

Cambridge, Massachusetts 02138

United States

Company Description

The Harvard Art Museums, among the world's leading art institutions, comprise three museums (Fogg, Busch-Reisinger, and Arthur M. Sackler) and four research centers (Straus Center for Conservation and Technical Studies, the Center for the Technical Stud ... more

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Background Information

Employment History


Harvard Companies, Inc.


American Economic Association


Morgan-dominated Pullman Company

Web References (8 Total References)

AEAweb: Past Officers [cached]

OLIVER M. W. SPRAGUE, Harvard, 1937

Origins of the Federal Reserve by Murray N. Rothbard [cached]

Warburg met and corresponded frequently with leading academic economists advocating banking reform, including E. R. A. Seligman; Thomas Nixon Carver of Harvard; Henry R. Seager of Columbia; Davis R. Dewey, historian of banking at MIT, long-time secretary-treasurer of the AEA and brother of the progressive philosopher John Dewey; Oliver M. W. Sprague, professor of banking at Harvard, of the Morgan-connected Sprague family; Frank W. Taussig of Harvard; and Irving Fisher of Yale.

The Case Against the Fed by Murray N. Rothbard [cached]

Warburg met and corresponded frequently with leading academic economists who favored banking reform, including Seligman; Davis R. Dewey, historian of banking at M.I.T., long-time secretary-treasurer of the American Economic Association and brother of the progressive philosopher and educator John Dewey; Frank W. Taussig; Irving Fisher of Yale; and Oliver M. W. Sprague, Professor of Banking at Harvard, of the Morgan-oriented Sprague family.

[36] Miller's father-in-law, Otho S. A. Sprague, had served as a director of the Morgan-dominated Pullman Company, while Otho's brother Albert A. Sprague, was a director of the Chicago Telephone Company, a subsidiary of the mighty Morgan-controlled monopoly American Telephone & Telegraph Company.


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Lessons from the Panic of 1907. - Smartpredictor [cached]

The authors quoted Oliver W. Sprague, a Harvard professor writing in 1908, as stating that "The position of the banks was far from desperate, yet they had already entered the fatal and discreditable path of suspension, paying depositors at their own discretion. In a remarkable historical parallel to the 2008 crisis, banks in New York during the 1907 crisis "actually conserved cash as a result of their membership in the clearing house and otherwise profited from the extension of cash to the trust companies. In November 1907, the New York banks obtained as much cash as they remitted elsewhere in the U.S. according to the authors. Sprague observed, "The New York bankers proved themselves wholly unequal to the duties of their position as the central reserve banks of the country."

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