The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-09-06
Educating for Business.

lent judgment shown by
the University of Penn
sylvania in arranging certain special
courses Of instruction tending to
broaden young men for careers in COM
mrrcial or political enterprise; and we
now take pleasure in noticing what 1t
has to say concerning n special course
i'm business practice and banking which
Is its latest offering in this practical
direction. The course covers two
years: and includes in the first year,
instruction by lectures and reading in
accounting, corporation accounting,
theory and geography of commerce,
the money market, domestic and for
eiGn exchange. business practice, prob
lems in economies and finance. Ameri-
can history, American political insti-
tutiors, European political institu-
tiOns English composition and the
English language. In the second year
the range Of studies Is to comprise
business law, theory Of money and
credit. modern banks of issue and de-
| pOsit, political economy, history of
| banking in the United States and I1u-
| rope, practical banking, monetary his
| tory. public finance. American COM
mercal relations. English literature.
In behalf of this proposition the cir
! cular Of announcement truthfully says
! that 'thc conditions of success in busi-
ness have greatly changed during the
! last fifty years. Markets have WIDEN
3D. competition has increased, and the
scale of operations has been enlarged.
These changes have raised the stand
ard Of intelligence for success in the
| business world and education has be-
| come as necessary to the man Of affairs
as for the lawyer, clergyman or phvsi-
clan 1t must be both broad and Spe-
Cial in character not only producing
Intelligent, well-poised men, but also
acquGinting them with the laws and
forces Of the business world.
"Reccrt financial and political events
render it necessary to dwell on the i'm
| portance or value OF education to the
American banker The magnitude of
| modern business undertakings, and the
intimate financial relationship estab-
llSHtl bN lllt Ntlblt anu ltltS ttlll 'VT
tween all parts Of the earth, as we'll as
the relation of banking to great issues
of national politics, have made a wide
intellectual horizon essential to a bank
er's safety and prosperity. The the
ory and history Of money, credit and
banking. bank notes as issued in the
United States, Canada, England
|
Of state banks prior to 1860. the econ
omic and financial causes affecting the
rate of interest and the prices Of secu'
rites, the nature and history of pan
les. stock exchange operations, invest
ments the mechanism of foreign and
domestic exchange, the internatOna
movements of gold. commercial law
all these topics, which are studied in
the special course in business practice
and banking, are Indispensable to any
adequate preparation for the business
Cf banking.
"The fact is not overlooked that
bankers and men Of business need
more than a special training for their
vocation. Nothing would do more.
writes the Hon. James Bryce in the
North American Review for June, 1899
'to secure sound legislation in all Ques,
tions Of currency and taxation (ant
especially in tariff questions) than the
possession by a considerable number
Of leading business men of a mastery
Of the scientific theory Of these sub
iects,' That statement is particularly
true of the United States. Many o
tho questions at issue in the polite
Of this country concern business mel
closely, and they are important factor
i'm shaping public opinion. In this spe
cial course therefore, an effort is mad
= to train young men for Intelligent citi
2enship as well as for business life
Those VINO deride school education
for business will probably not be con
vcrtcd by this statement but the mum
her of such is necessarily few AM
, diminishing.