The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-06-29
DOES A COLLEGE EDUCATION
PAY?


mark Of the late Josh Billings: 4
never argy agin' a success" And so
when. a few weeks ago, Mr.. Schawb,
head of the steel trust, declared against
what he called the waste of time re-
quired for a college course, his words
have the weight which are always given
to the counsel of successful business
man Mr.. Schwab enjoyed salary of
one million dollars a year under Mr.
ganized Any man who can demand
such a salary has in him qualities that
viii make many people follow his adj
vice.
Thursdays New York Journal con-
tains an account of a youthful New
York banker. who was then the big
man in Wall street because he had
bought one million dollars stock and
saved the Seventh National Bank, upon
condition that he be elected President.
The Journal said of him: His features
are dark. They are not unlike those
Of President Schwab, of the billion
dollar steel trust. Moreover, he has
the same peaceful brown eyes and a
similar disposition. He is always UNI
ruffled even in the most exciting mo-
ments" He is like Mr.. Schwab, also,
in that he believes a college education
retards young man in business. The
young fellow is evidently stuck on him
self. Here is the substance of his in
terview:
"At college / made the fatal mistake
of studying faithfully.
when l went into my fathers office
1 was the greenest person there. l
knew Latin, Greek and Calculus, but
could not earn a $500 commission sell
ing stocks 1 soon oyercame the coll
lege handicap.
Ibid / put up $1,0OO00O for the
Seventh National Bank? Somebody
did.
Il am to we'd next Saturday. | was
to have been married in Louisville. l
w
come here for the wedding. l have no
time for a bridal trip.
81 love Wall Street. 1t is a much
cleaner business than dealing in rail
roads. The only trouble is the hours
are too short.
Il don't feel older than my years.
I'm twenty eight. The only regret of
my life is the four years / spent in col
lege. Had / not wasted them | might
have been further along"
The very next day, the bank of
which this young man had bought the
presidency for one million dollars,
closed its doors. That fact in itself has
nothing to do with the truths or error
of Mr.. Thomas's observation about a
college education, but it shows that he
doesn't know it all.
The best evidence that the worlds
business men think a college education
pays in the greater affairs of life is
that they send their sons to college
and give of their means to endow and
found colleges. Take the case of Mr..
Rockefeller. A college education could
not have enabled him to make more
money, but it could have given joy
and a high pleasure in the hours of
leisure and in the period of old age
that no money can buy for him. He is
generously seeking to put the advant-
ages OF college education within the
reach of young men. If he thought it
would retard their success, would he
case of Mr.. Washington Duke of Dur
ham. In his youth he did not have
the advantages of education. A college
course would not have helped him to
make his millions, but his generous
and continued benefactions to Trinity
College show the high estimate he puts
OH college education. The day when
great fortunes were made like Mr..
Rockefeller and Mr.. Duke made theirs
is passing away, and nobody realizes
this truth more fully than these rarely
successful men. The young man who
is to go to the front in the future must
be fully equipped with the best educa-
ton and skill that can be obtained. He
rnust have his tools we'll sharpened If
he is to be a. professional man, he needs
the old college curriculum, if he is to
be an industrial leader he needs indus
trial education. These he must have,
and, no matter what his calling, if he
knows it's true place, he will be helped
and blessed by a college education. OF
course there will always be men of
rare gifts who will become Industrial
leaders without education, but the keen
competition growing keener all the
time will give the advantage in the
long run to the man whose hand and
head and heart are the best trained for
the work whereunto he is called.
From the pest information we car
give, there viii be a general average of