Beardsley Ruml facts for kids
Quick facts for kids
Beardsley Ruml
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| Born | November 5, 1894 |
| Died | April 19, 1960 (aged 65) |
| Nationality | American |
| Alma mater | Dartmouth College, 1915 B.A. University of Chicago, 1917 Ph.D. |
| Spouse(s) | Lois Treadwell, married on August 28, 1917 |
| Children | 3 |
| Parent(s) | Salome Beardsley Ruml and Wentzle Ruml |
Beardsley Ruml (born November 5, 1894 – died April 19, 1960) was an important American thinker. He was known as a statistician, economist, and businessman. He helped shape ideas about how money and government work in the 1920s, 1930s, and 1940s.
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Early Life and Education
Beardsley Ruml was born in Cedar Rapids, Iowa. His father, Wentzle Ruml, was a country doctor. His mother, Salome Beardsley Ruml, managed a hospital.
Ruml went to Dartmouth College and earned a degree in 1915. He then studied at the University of Chicago. In 1917, he received his Ph.D. in psychology and education.
On August 28, 1917, he married Lois Treadwell. They had three children together.
Helping the U.S. Army
In 1918, Ruml used his skills in statistics. He helped design special tests for the U.S. Army. These tests measured how good soldiers were at certain tasks. They also helped understand their intelligence. Ruml believed that groups of people could be measured. He thought their traits could be ranked.
Career Highlights
From 1922 to 1929, Ruml managed a special program. It was for the Laura Spelman Rockefeller Memorial Fund. He helped support studies in social and behavioral science.
He also advised President Herbert Hoover. Ruml gave advice on important topics, especially about farming.
In 1931, he became a dean at the University of Chicago. He led the Division of Social Sciences. This was a place known for research using numbers and data.
Leading Macy's
In 1934, Ruml joined Macy's. This company owned many department stores. He became a top executive there. By 1945, he rose to become the chairman of Macy's.
He also served on the board of the Federal Reserve Bank of New York. This is a very important bank. He was its chairman from 1941 to 1946. Ruml also took part in the Bretton Woods Conference in 1944. This meeting helped create rules for money around the world.
The Pay-As-You-Go Tax System
In 1942, Beardsley Ruml had a big idea. He suggested a new way for the U.S. government to collect income taxes. He proposed a "pay-as-you-go" system. This meant that taxes would be taken directly from people's paychecks. This is called withholding.
His idea was to collect taxes on current earnings right away. This would help the government get money faster. In 1943, the U.S. Congress agreed to his plan. They passed the Current Tax Payment Act of 1943. This law created the employer withholding system we still use today.
Ideas About Taxes
In 1945, Ruml gave a famous speech. He told the American Bar Association that taxes were no longer just for raising money. He said that since the U.S. no longer used the gold standard, taxes had other purposes.
He believed taxes could:
- Help keep the value of the dollar steady.
- Influence how wealth and income are shared.
- Support or penalize different industries.
- Help pay for specific national benefits. These include things like highways and social security.
These ideas were very new at the time. They helped shape how people thought about taxes.
Writings
Beardsley Ruml wrote several books and essays. Some of his works include:
- The Interest Rate Problem
- Memo to a college trustee: A report on financial and structural problems of the liberal college
- Government, Business, and Values
- Tomorrow's Business
Later Life
Beardsley Ruml passed away on April 19, 1960. He died in Danbury, Connecticut. He is buried at Umpawaug Cemetery in Redding, Connecticut.
