University Missourian. [volume] (Columbia, Mo.) 1908-1916, 1911-01-08
The College World.
Training for Business.

Charles Waldo Haskins, late dean of
the New York University School of
Commerce. Accounts and Finance, by
alumni of the institution. He said. in
Ipart:
"A quarter of century ago special
| training was not thought necessary. or
even desirable, for those about to en-
ter business; education commonly was
considered a waste Of time. Success
came easily to those who possessed
| Imagination. determination and indus
try. Practical experience then took
the place OF special training Indus
trial relations were simple, and the
scope, even of the great industrial en-
| lterprises, was very limited as COM
ipared with that OF the great corpora
tions Of today. Then industry de-
manded of young man simply those
qualities that may be deveioped by eX-
perience; today industry demands that
the young man possess an accurate
scientific knowledge of principles. in
order that he may make the most of
later experience.
1T is only within the last decade
practically within the life of this uni
versity-that the banker OF America
has come TO appreciate the necessity
OF understanding the philosophy of his
business. Banking is every day becom-
ing more complicated-less of trade
and more of science. The successful
banker of tomorrow must know mere
than how to shave notes.-the bare de-
tails of his business. He must be con-
versant with the history cf banking;
familiar with the general laws that
govern financial phenomena. He
should recognize his obligations and
relations TO the people outside his
counters, and have some comprehen-
sion of theings other than those incl
dent to mere money-makng. He
should be capable of anticipating the
tendency of industrial and financial
movements of wide extent. that he may
today begin preparations for the emer-
gency of year hence. More and more
the banker is being depended upon to
maintain the financial equilibrium of
the community. This requires a de-
gree of intelligence rarely gained from
mere experience.
Industrial and commercial educa-
tion has an importance to society even
greater than it has to the business
man and those about TO become bust
ness men. The most serious problems
that confront the state and the. nation
today are those intimately connected
with industry. The regulation Of pub
lie service corporations, so that every
interest concerned. the stockholders
and the people. shall be properly con-
served; the granting of franchises by
municipalities; the taxation of indus
trial and public service corporations
and the conservation of our natural re-
sources. are all problems that FOR prop
er solution demand special knowledge |
and special training, and are too close !
ly connected with the welfare of the |
people to be made the playthings of |
demagogues and self-seeking politi-
clans.
The statute books of the state and I
he nation are cluttered with unwise
and vicious laws relating to all of
hese questions. Some of these laws
originated in good intentions, some in H
he desire for self-aggrandizement;
Mostly. however, they are the result
If legislation by those who did not
inow-they simply guessed. These
will be properly settled only
when public opinion is guided by those
itted by training and experience to un-
Ierstand them. Your phenomenal sue
ess here is largely due to the fact
hat the public believes you give your
oung men that sort of a training.
"Of equal importance TO the demand y
or efficient service in public affairs
S the need for conscientiously trained {
nen in newspaper work. The young i
hen TO be so trained should not be 4
The great newspaper
eading public's voracious appetite for t
ews should not be fed on adulterated |
ood, and the newspaper men who fur
ish ii should be amenable to the pure /
ood laws and as severely punished as
he man who insults healthy appe- I
ite with sanded sugar. The newspa- In
ers of the country are the greatest
all powers for good or evil.
Most newspapers take their respon- L
Utilities seriously and endeavor to pro- d
lote the general welfare; others cater T
temporary popular prejudice and
amor and make no attempt either TO e
irect or reflect public opinion unless