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 and Business Administration 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 becomes
available with the session of 1922-1923, it is expected that the University
will be enabled as soon as the present organization is completed
to take a leading position in business instruction in Southern Universities.
The faculty has been increased by the appointment of three
new members for the session of 1922-1923 and 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.