AND MARINE TRANSPORTATION. 7 
These subjects given in the second and third years are preparatory for the 
special courses in marine insurance, foreign exchange and foreign trade given in 
the fourth year. The courses in marine insurance and foreign exchange and 
foreign trade cover the following subject-matter:—Money exchanging, financing 
of exports and imports, factors determining exchange rates, statistical studies in 
the field of foreign exchange, instruments and forms used in foreign trade; prin- 
ciples of insurance and the peculiarities of marine risks; historical and statistical 
study of international trade; the organization of steamship lines; combines, 
export associations and rate agreements; line and charter traffic; steamship ports 
and the influence of the hinter land; and the relation of inland navigation and 
railway transportation to ocean commerce. 
As a knowledge of modern foreign languages is of great importance to those 
men who engage later in international trade, the opportunity is offered for study 
of French, Spanish or German throughout the freshman and sophomore years. 
The student continues in the freshman year the modern foreign language accepted 
by the university for entrance. In the sophomore year he may elect French, 
Spanish or German. 
Lehigh is especially well situated to undertake this work in education for the 
upbuilding of our merchant marine. The offices of the Bethlehem Shipbuilding 
Corporation are opposite the entrance to our campus, and the shipbuilding and 
shipping centers of New York and Philadelphia are only a few hours away and 
can be easily visited by our students on inspection trips. 
We are pointing out to our men that their training is not finished at graduation 
but that it has just begun. We shall urge them, except those who elect to enter 
the shipping field immediately at graduation, to spend a year at practical work 
either in a shipyard, engine works, or on shipboard, so as to fully round out the 
practical side of their training. 
The aim of the course, in conclusion, is three-fold:—First, to turn out men 
who may in the future become specialists in naval architecture or marine engineer- 
ing; second, to graduate a type of man who, after devoting several years to 
engineering work along marine lines, will be prepared, when the opportunity 
arises, to enter executive positions in the shipbuilding and shipping fields; third, 
to prepare men to enter the business end of shipping directly upon graduation. 
DISCUSSION. 
AcTING PRESIDENT:—I am sure we are all very much interested in this paper, 
because I presume that everyone here has taken a course similar to this. The paper is 
now open for discussion. 
