1 1. Is business a profession?—If we analyze the so called learned professions, we find them distinguished by these two characteristics : first, in their practice brains are far more important than technique or man ual skill; second, education in certain sciences is es sential to success. No calling deserves to be called a profession if its tasks and problems are so simple as to be within the grasp of any man of ordinary abil ity and education. The problems of a profession can be correctly solved only by a man wbo has had thoro training in science. The physician, for example, apart from his knowledge of materia inedica, must be well grounded in anatomy, physiology, chemistry and bacteriology. Psychology should be added to this list, altho our medical schools do not appear to be alive to the importance of this science. The well trained lawyer should be disciplined in the sciences of pure logic and of jurisprudence, in ethics, in the evo lution of law and in the theories that explain and justify legal doctrines. When the physician or law yer is not thus trained, the young lawyer merely know ing the statutes and procedure of his jurisdiction, and the young physician knowing only drugs and symp toms, both are empiricists and do not deserve to be called professional men. They resemble the car-, penter who works by rule-of-thumb.
Certain business callings in recent years have•risen into the professional ranks. Before the year 1900 few public accountants would have claimed that their occupation was professional in character. The ac countant was then often referred to as a "bookkeeper out of a job." But the really expert accountants of the last century knew very well that their difficult tasks could not be performed by the ordinary book keeper. They realized that tbe accountant could not do his best work unless he knew a great deal about the business man's problems. It has been largely because of the accountants' belief in the high character of their work that university schools of commerce have re cently been established in all parts of the country, in which men are trained in all the sciences underlying business as well as in the theory and practice of ac counting. For the same reason many states have passed laws providing that no man shall style him self a "certified public accountant" until Ile has suc cessfully passed examinations conducted by the state authorities. In view of these conditions the account ant may fairly claim that his calling is one of profes sional rank.
Other business occupations, notably advertising and the work of the credit man, are rapidly moving in the same upward direction. Entrance into these callings is not yet g-uarded by statute, but many of the lead ers already realize the need for preparatory training, and some of our university schools of commerce are doing their best to supply it.
The American banker is also beginning to discover his need for men who have had scientific training, for the problems of banking are becoming more and more intricate and difficult. The time seems to be ap proaching when bank presidents and managers can not be picked haphazard from lists of men who have had successful experience in trade or manufacturing. Not many years ago a prosperous farmer was often elected to a bank presidency. But a banker is becom ing more and more a specialist, and competition will surely compel him to obtain mastery of the sciences underlying the phenomena of economics, credit, money and international, as well as national, finance. And then we may fairly claim to have professional bankers.
Some of our banks are showing preference for uni versity graduates and are conducting courses of in struction for their employes which are scientific as well as practical, but these banks are exceptions. Not until it is generally realized that office experience cannot take the place of scientific training can bank ing justly be called a profession.
The business of transportation is one of increasing importance and difficulty% Many of our railroad managers have worked up from the bottom merely by the knowledge they have gained in the service. In the future this working up will doubtless be more difficult unless the ambitious employe does a lot of hard studying and thinking in his leisure hours. The successful management of a great railroad, while- de manding great executive ability, also calls for a pro found knowledge of economic and industrial condi tions. Some day it should rank among the profes sions.
12. What constitutes success in business?—Since profit is admittedly the aim of business, it would log ically follow that a business man's success can be meas ured only by the amount of money he makes. As a general statement this is perfectly true, yet erroneous inferences and applications are quite possible.
The manager of a New York City bank ma3,- raise the net earnings of his bank by one million dollars a year and yet not really be so successful as a small country banker who increases his bank's revenue by only ten thousand dollars a year. In the same way the business of a city merchant may annually expand by a million dollars and yet he may be properly re garded as less successful than a small country mer chant the volume of whose business is increasing at the rate of only ten thousand dollars a year. The city banker and merchant have practically unlimited op portunities of expansion, while tlw country banker and merchant are hemmed in by a narrow environ ment. Each of the latter may have done all that could possibly be done to increase his business, keep down costs and increase net revenues.