The annual meeting of the members of the Graduate School of Arts and Sciences and of the Graduate Schools of Applied Science and of Business Administration was held in the Faculty Room of University Hall last evening. Dean Sabine of the Graduate School of Applied Science presided at the meeting in the absence of Dean Wright, and after a few introductory remarks introduced Mr. James Ford Rhodes, LL.D.
Mr. Rhodes read an interesting paper on economic conditions in this country during President Hayes's administration, paying special attention to the notable manner in which Hayes averted the panics following close after the Civil War. Hayes took the presidential chair only after a bitter struggle with Tilden, and with the reputation of being the only president who ever entered upon that office with the word "Fraud" stamped on his forehead. His struggles with the Senate and with the members of his cabinet, in trying to put an end to the panic that was causing so many strikes throughout the country, were hard-fought and discouraging. Before his administration had ended, however, he had put an end to the panic, and was attacked less violently by the Democrats, who had been so persistent in their efforts to remove him from office. In closing, Dr. Rhodes gave an admirable eulogy of President Hayes and said that he was respected and honored throughout the United States for his splendid, work.
Dean Sabine next introduced Dean Gay of the new Graduate School of Business Administration, who spoke briefly on the new school. He gave three reasons for its being made a graduate rather than an undergraduate department: foremost, because we set the Graduate School apart, as the policy of the University; secondly, Harvard recognizes that business has a right to graduates of professional schools; and thirdly, in aim and tendency and purpose we mean to ally ourselves with research, and to search for a wider truth. We feel that in the Graduate School of Applied Science we are not giving our men the key to wealth, so this new school has been established to further economic development and business organization.
President Eliot pointed out that our Graduate School of Arts and Sciences was established four years before that at Johns Hopkins University; but the degree of Doctor of Philosophy was first offered by examination to students of the Sheffield Scientific School at Yale. This is something our scholars will always owe to Yale. The Business School is the first graduate department to begin by demanding a degree for admission, and the number of its special students is usefully large. It is a great satisfaction that the school has shown such promise of growth.
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