In Washington's Naval Hospital, death from heart disease came suddenly last week to Herman Oliphant, 54, grey-locked, hollow-eyed general counsel of the Treasury Department. It left the Treasury bereft of the most earnest economic experimenter remaining there since the withdrawal of the late Professor George F. ("Rubber Dollar") Warren. Herman Oliphant, a law scholar before he was a financier and a liberal before he was a lawyer, was the prime advocate of the Undistributed Profits Tax, written into the tax law of 1936. All but the bare principle of that tax, which Franklin Roosevelt loved for its neat theory,*...
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