George F. Baker's six million dollars' worth of confidence in the service which the Harvard Graduate School of Business Administration can do for society, should be enough to disarm any skeptic. If there be some, however, who still doubt the practicability of academic training as preparation for important place in the world of active business, they may be referred to still another pertinent argument. At the dedication of the school's great flew buildings on Saturday, Professor Edwin F. Gay, the institution's first dean, told the story of a prosperous business man, an admirer of West Point methods, who came to visit the school in its early days. This visitor, feeling moved to challenge the value of the new enterprise then beginning at Harvard, asked what, apart from a certain amount of technical knowledge, were the qualities required for success in business?

"Judgement and courage," came the answer, "and that combined and balancing quality which may be called resourcefulness or 'gumption.'" When the visitor then remarked triumphantly, "You can't teach those," the response. Dr. Gay is reported to have said, was obvious: "Does West Point training help in making successful Army officers?" And the visitor replied. "I see your points" Professional training, Dr. Gay concluded, cannot guarantee the production of Napoleons and Lees, but, as in medicine, law, engineering and other professions, so now in business, such education has come to be regarded as fundamental.

Here lies an assured and inescapable truth. It is the stronger because, even while firmly proclaiming its strength, it willingly recognizes its own limitations. Schools never yet have created an atom of genius; but rare, exceedingly rare, is the man of fair endowment who cannot, by schooling, increase his own competence and his worth to society, whether in business or in botany, in finance or in philology. The Boston Transcript.