We are told of a Harvard professor, now a powerful member of the Roosevelt "Brain-Trust," who a few weeks ago entered on a petty transaction with a small bank near Central Square. The president of the bank sent the customary letter to the professor's regular bankers in Cambridge asking for references and confirmation of the latter's credit. He received the following answer.
Mr. O.M.W. Sprague has been our client for many years and has always had our confidence in his integrity and credit. Mr. Sprague holds the Edmund Cogswell Converse professorship of Banking and Finance at Harvard, and has served as professor of Economics at the Imperial University in Tokyo. In 1930 he went to London where for two years he was Financial Adviser to the Bank of England, and he is now Chief Economic Adviser to the U.S. Treasury. We consider him a reliable client in every way. Sincerely yours, J----, P----
The H---- T---- Company. Cambridge.