University of Virginia Library

Alumnus Gives $350,000
For Planned Law Library

By PHIL KIMBALL

Distinguished Law School Alumnus Arthur J. Morris

Portrait of 'Morris Plan' Creator To Hang In Library Named For Him

Arthur J. Morris of New York, who
pioneered the national "Morris Plan" for
consumer bank credit in Norfolk more
than sixty years ago, has given $350,000
for the law school library to be housed in
a new building to be constructed
beginning next year.

President Edgar F. Shannon
announced the gift Saturday night at a
dinner held in the Rotunda honoring Mr.
Morris. Mr. Shannon also announced that
the Board of Visitors had decided to
name the new library for Mr. Morris, who
received his law degree from the
University in 1901.

Construction of the new law school
building, expected to cost an estimated
$4.8 million in state and private funds
which have already been allocated, is
scheduled to begin next year.

It will be situated northwest of the
main Grounds on the Duke property and
will be the first structure in the
Law-Graduate Business Complex.

In announcing the gift, which will be
used specifically to furnish the library,
Mr. Shannon praised the 90-year-old New
York lawyer and banker for his service to
the University.

"Setting a splendid example to his
fellow lawyers," Mr. Shannon said, "he
has devoted himself not only to the
School of Law, but has generously given
his interest and support to the School of
Commerce and the Graduate School of
Business Administration."

Mr. Morris is known internationally
for establishing the "Morris Plan" of
consumer credit which made it possible
for anyone with a job and good character
references to borrow money from a
commercial bank on an installment basis.

The idea began in 1910, when Mr.
Morris, then a corporate lawyer in
Norfolk, convinced the directors of a
bank to loan $500 to a $60-a-week
railway clerk on the basis of good
character references and earning power.

The plan subsequently spread to other
banks in the country. "Morris Plan"
banks eventually merged with commercial
banks, adopting their names.

A portrait of Mr. Morris, presented at
the dinner, will be placed in the law
school.