Preparatory matter for Out of Smalle Beginings,

Margery Somers Foster (b. 1914) earned her Bachelor of Arts from Wellesley College in 1934 and her Ph.D. in Economics from Radcliffe College in 1958. Her fields of interest were public finance, economic development and economic history. Her doctoral thesis focused on the economic situation of Harvard College in the Puritan Period and how the general economic factors of the period influenced the College. Foster's interest in this topic began in 1955 when she worked as a researcher for Seymour E. Harris, Professor of Economics at Harvard University. Foster's thesis was later published in 1962 as Out of Smalle Beginings: An Economic History of Harvard College in the Puritan Period, 1636-1712. In this work, Foster explored the sources of college income, analyzed disbursements, and traced the investments of Harvard college funds, providing a picture of the financial life of Harvard College and its relationship to the Puritan economy.

The daughter of Brent and Grace (Butler) Foster, Margery Foster was an assistant actuary for the New England Mutual Life Insurance Company from 1934-1943. During World War II, she spent four years as an administrator in the U.S. Naval Reserve, leaving as a lieutenant. After the war, Foster served as the deputy comptroller (1946-1948) and director of development (1948-1954) for Wellesley College. She taught economics at Harvard College (1956-1958), Mount Holyoke College (1958-1964), and Hollings College (1964-1967). Later, Foster was the dean of Douglas College of Rutgers University (1967-1975) and a professor of economics (1975-1980).