The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-05-03
Theory and Practice

Theory and Practice
At this season OF the year, when
many young men and women are
leaving high school and college and
looking for an opportunity to enter
business and the professions, 1t is in
teresting to note q new definition Of
the theory and practice Of education
offered by one Of the nations lead
Ing economists.
The speaker was Benjamin M. An
derson. economist for the Chase Ma
tional Bank Of New York, the ma
tons largest private financial irlsti-
tuition.
As an exponent OF economic theory
he takes high place among hts fel-
lows. As practical analyst Of bust
ness affairs and commercial and In
dustrial trends, he takes a leading
part In establishing the policies Of his
bank.
Generally speaking, he is neither a
new dealer nor an old dealer but an
independent thinker. His contacts
are wide and his experience long and
varied.
When he talks OF education, there
fore, he does so from the viewpoint
Of Q businessman with a good schol-
astic background, and when he
stresses the value of theory he does
not overlook the need for putting it
into practice.
In . recent speech at the annual
alumni dinner OF the school OF bust
ness 1t Columbia University, Ander-
con warned against applying a cash
value test to the instruction offered
h colleges. saying:
This demand for practically
Is self-defeating. I do not mean
to question the need for accurate,
detailed knowledge Of the job
which one Is doing. But there
are two ways Of knowing facts:
one may know them by sheer
brute force Of memory with ire
mendous exertion, or one may
know them easily and adequately
by seeing them hang together as
the illustrations Of body Of prin-
ciples. The man who knows
principles gathers facts easily be-
cause facts have meaning for him.
He refrains from burdening his
memory with facts which have
no meaning. Except in the light
Of principle, there is no way OF
telling which facts are worth
while and which are not Theory
without facts Is empty. Facts
without theory are blind.
Detailed methods Of banking
and business shift frequently.
New devices and new methods,
which make for greater economy
and efficiency, are constantly be-
ing introduced. The principles
the student has mastered in COL
lege and the historical perspec-
tive he has gained there will be
Of use to him throughout his life.
The detailed practice which
student might learn In college
would be pretty surely out OF
date in . few years. II not already
out Of date"
II one seeks only to learn the de-
tails and practices Of trade or busi-
ness. Anderson suggests that the old
apprenticeship method Of working
with master is, by all standards, the
best and most economical, because
through it the learner escapes much
misinformatton given out in our halls
Of learning.
This observation not only points q
paoral to our colleges but it also gives
encouragement to those who are de-
uied . college education. There is
more than one way Of learning.
The boy or girl with will to learn
win not b denied opportunity If he
makes the most Of whatever faciu-
ties are open to him. Some of the
best educated men never saw a COL
lege except from the outside. Some
men with . plenitude Of degrees are
practical ounces. Only the man who
understands both theory and practice
i fully equipped to deal with the
problems Of . modern world.
That Gardening Urge