EDUCATION AND INDUSTRY. 437 



result being to make the government of the internal affairs of a busi- 

 ness resemble the work of governing states. It enlarged the market 

 also by means of improved means of transportation and communication, 

 and not only brought the entire earth into the field of commercial vision, 

 but threw the new giants of production into such a keen and relentless 

 competition that the utmost precision of knowledge, genius for admin- 

 istration and mental and physical staying-power has been sought after 

 for leadership. 



With these changes in progress and partly completed, industry has 

 at once shown an irresistible tendency to come under the sway of sci- 

 ence. A new concern of large size now starts with a charter and a plan 

 of internal organization, the work of professional organizers and as 

 carefully drawn as the constitution of a state might be. Eventually 

 the mill architect lays out the plant. The head chemist and consult- 

 ing engineer take charge of the operative departments ; the conditioning 

 laboratory checks off the results of the buyer's work; the credit man 

 rules the selling agencies and compiles his data as systematically as the 

 much-abused charity organization society ; and the advertising manager 

 works with a like systematic use of records. Eisks are transferred, 

 whenever possible, to insurance companies which study them with all 

 the methods known to statistics. Legal liabilities are attended to by a 

 special corporation attorney. All the records of the activities of the 

 concern are compiled under the direction of the accountant and are 

 periodically examined and certified to by a professional auditor. At 

 every point the business has touched upon a science or a possible science. 



This new regime, while it has given to industry such a character of 

 intricacy, has given to its laws such precision, to its processes such 

 rapidity and continuity, and to its leaders such a scope for power that 

 men of systematically trained perceptive faculties and reasoning powers 

 are required for it. 



These methods also have already brought into view such a body of 

 systematized experience that it is possible to begin the formulation of 

 the principles of wealth production. And this will provide a subject- 

 matter which can be studied apart from practice, according to the 

 methods of an educational institution, and which will be of practical 

 value because it has grown out of practice and governs it. 



In an important sense the advance made by higher commercial 

 education will condition the advance made by the other branches of V^*/'' 

 education preparatory to industry, since the men in the responsible 

 positions in our industry must needs have scientific and commercial 

 training to appreciate its value in the men they employ. 



The second reason for higher commercial education lies in the fact 

 that it is becoming increasingly difficult for young men to acquire a 

 knowledge of the principles underlying business through engaging in 

 the activities of business. This is true if it is true that industry is 



