The preference appears to be almost wholly impulsive, and a matter of habitual bias. It is due for the greater part to the high esteem currently accorded to men of wealth at large, and especially to wealthy men who have succeeded in business, quite apart from any special capacity shown by such success for the guardianship of any institution of learning. Business success is by common consent, and quite uncritically, taken to be conclusive evidence of wisdom even in matters that have no relation to business affairs. So that it stands as a matter of course that businessmen must be preferred for the guardianship and control of that intellectual enterprise for the pursuit of which the university is established, as well as to take care of the pecuniary welfare of the university corporation. And, full of the same naive faith that business success "answereth all things,"these businessmen into whose hands this trust falls are content to accept the responsibility and confident to exercise full discretion in these matters with which they have no special familiarity. Such is the outcome, to the present date, of the recent and current secularization of the governing boards. The final discretion in the affairs of the seats of learning is entrusted to men who have proved their capacity for work that has nothing in common with the higher learning.(3*)As bearing on the case of the American universities, it should be called to mind that the businessmen of this country, as a class, are of a notably conservative habit of mind. In a degree scarcely equalled in any community that can lay claim to a modicum of intelligence and enterprise, the spirit of American business is a spirit of quietism, caution, compromise, collusion, and chicane. It is not that the spirit of enterprise or of unrest is wanting in this community, but only that, by selective effect of the conditioning circumstances, persons affected with that spirit are excluded from the management of business, and so do not come into the class of successful businessmen from which the governing boards are drawn. American inventors are bold and resourceful, perhaps beyond the common run of their class elsewhere, but it has become a commonplace that American inventors habitually die poor; and one does not find them represented on the boards in question. American engineers and technologists are as good and efficient as their kind in other countries. but they do not as a class accumulate wealth enough to entitle them to sit on the directive board of any self-respecting university, nor can they claim even a moderate rank as "safe and sane" men of business. American explorers, prospectors and pioneers can not be said to fall short of the common measure in hardihood, insight, temerity or tenacity; but wealth does not accumulate in their hands, and it is a common saying, of them as of the inventors, that they are not fit to conduct their own (pecuniary) affairs; and the reminder is scarcely needed that neither they nor their qualities are drawn into the counsels of these governing boards. The wealth and the serviceable results that come of the endeavours of these enterprising and temerarious Americans habitually inure to the benefit of such of their compatriots as are endowed with a "safe and sane" spirit of "watchful waiting," -- of caution, collusion and chicane. There is a homely but well-accepted American colloquialism which says that "The silent hog eats the swill."As elsewhere, but in a higher degree and a more cogent sense than elsewhere, success in business affairs, in such measure as to command the requisite deference, comes only by getting something for nothing. And, baring -- accidents and within the law, it is only the waiting game and the defensive tactics that will bring gains of that kind, unless it be strategy of the nature of finesse and chicane. Now it happens that American conditions during the past one hundred years have been peculiarly favourable to the patient and circumspect man who will rather wait than work; and it is also during these hundred years that the current traditions and standards of business conduct and of businesslike talent have taken shape and been incorporated in the community's common sense. America has been a land of free and abounding resources; which is to say, when converted into terms of economic theory, that it is the land of the unearned increment. In all directions, wherever enterprise and industry have gone, the opportunity was wide and large for such as had the patience or astuteness to place themselves in the way of this multifarious flow of the unearned increment, and were endowed with the retentive grasp. Putting aside the illusions of public spirit and diligent serviceability, sedulously cultivated by the apologists of business, it will readily be seen that the great mass of reputably large fortunes in this country are of such an origin; nor will it cost anything beyond a similar lesion to the affections to confirm the view that such is the origin and line of derivation of the American propertied business community and its canons of right and honest living.
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