People, Feb. 17, 1936

"Names make news." names made this news:

Petitioning a California court for permission to invest part of its endowment in common stocks, Stanford University introduced as a witness Trustee Herbert Hoover. At a San Jose hearing Trustee Hoover testified: "The trustees of Stanford University . . . are now confronted with a grave problem. . . . For 50 years much prudence and wisdom have caused the trustees to invest the endowment, now amounting to some $24,000,000, in seasoned bonds and first mortgages. . . . The devaluation of the dollar, the widespread bank credit inflation and the possible menace of currency...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!