University of Virginia Library

GENERAL STATEMENT

The development of separate schools of Commerce and
Business Administration in the colleges and universities of
the United States has taken place within a comparatively
recent period. Only three such schools had been established
prior to 1900, but since that year the teaching of
Economics, Commerce and Business Administration has
had a rapid development. Separate schools exist in a score
or more of the larger institutions and nearly all schools
of collegiate grade offer one or more courses in the field.

The large demand for business training developed somewhat
less rapidly in the colleges and universities of the
South than in those of the Northern States. Owing partly
to this fact and partly also to an insufficiency of funds
for the establishment of new departments, the growth of
Business Schools in the South has taken place almost entirely
in less than a decade.

Courses in Political Economy have been given by the
University from the opening of its doors to students in 1825
continuously to the present time. Some of the courses
taught at the beginning were, the Principles of Political
Economy, Money and Banking and Statistics. Later a
course in Sociology was given. From 1825 to 1868 the
work formed a part of the School of Moral Philosophy,
and after that date was connected with the School of History.
In 1906 the School of Economics was established
separately.

In 1915 the University extended the work already being
given in Economics by the addition of courses in Business
Law and Economic Geography. In response to the

insistent demand which came during and since the World
War, the following courses were added to the School of
Economics in 1918: Accounting, Statistics, Money and
Banking, International Trade, Business Organization and
Corporation Finance. Several other courses were offered
a year later.

In 1920 President Alderman in a statement on the needs
of the University spoke as follows: "The University has
for years sought to train for his career the great lawyer,
doctor, engineer and teacher. It most earnestly seeks the
opportunity to train the great business man for his career
in these days of great specialization and amazing opportunity
which await the country and South in this field.
Something much greater and wider than the ordinary business
college is contemplated. The complexity of the modern
industrial and commercial situation is bewildering unless
special training is provided. We owe something to
this vocation which absorbs two-thirds of our youth. The
training we propose would not be calculated to lead a youth
to look merely for a higher rate of interest or profit, but
would fit him to compete with all comers in interstate
and international trade, to keep faith with everybody, to
understand foreign languages and peoples, and to comprehend
the laws and methods of wise and just commerce."

In 1920 the School of Commerce was organized and in
the spring of 1921 Mr. Paul Goodloe McIntire gave the
University the sum of $200,000 as an endowment for the
School. As the result of Mr. McIntire's gift, the income
from which became available with the session of 1922-1923,
the University has been enabled to take a leading position
in business instruction in Southern Universities. The faculty
has been increased by the appointment of four new members

and by the addition of several instructors and assistants.
Special lecturers will supplement the work of the regular
faculty from time to time. A well defined course of
study leading to the degree of Bachelor of Science in Commerce
has been established.