Harvard Business School - Yearbook (Boston, MA)

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HISTORY OF THE HARVARD GRADUATE SCHOOL OF BUSINESS ADMINISTRATION The idea which was to grow into the establishment of the Business School was conceived about 1895 by President Charles W. Eliot, in co-operation with Professor Archibald Coolidge of the Department of History of Harvard College. The original idea was to found a school which should train young men for public and governmental business, with emphasis on training for the Diplomatic Corps. This plan was abandoned, but shortly after- ward, Professor Edwin F. Gay of the Department of Economics became a prime mover in advancing the effort which resulted in the establishment of the school. The first business course introduced into the college curriculum was a course of accounting offered by Professor William Morse Cole under the Faculty of Arts and Sciences in the academic year 1900-1901. At this time no credit was given, as the course was not thought academicg but at the beginning of the college year 1901-1902, a half credit was granted, and a few years later, full credit. On june 1, 1907, President Eliot announced that the University proposed to establish a graduate school for teaching the subjects of business. The Rockefeller Foundation made a grant of 312,500 a year for five years, and friends of the project duplicated this sum annually, thus enabling the Corporation to establish the Harvard Graduate School of Business Administration under the deanship of Professor Gay on March 30, 1908. The curriculum and instruction of the school were developed and planned to train the students for the problems to be met, not in the first few years of business life, but in the period begin- ning several years later after the detailed technique and routine have been acquired, the employer's confidence has been gained, and an opportunity has been earned for executive responsibility. In the earlier years of its history, the school had to accept 7

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GEORGE FISHER BA KER 6

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Hislory Qf the Business School-C'0Mti1i1ued accommodations which were available in the regular University buildings, these often being separated by inconvenient distances. In 1924, however, through the great generosity of Mr. George Fisher Baker, of New York, the creation of a permanent foun- dation and the construction of a new group of buildings for the school were made possible. The property owned by the University on the south side of the Charles River in the Allston section of Boston, just across from the Freshmen Dormitories, and on the other side of North Harvard Street from the athletic fields, was selected as the site. The plans for the school were chosen from a competition in which 55 architects participated. The winning scheme, based on the Georgian Colonial type of architecture, was submitted by McKim, Mead and VVhite. It provided for thirteen buildings, including a library and classroom building, an administration and research building, six student living halls, two faculty living halls, a student club, a faculty club, and a house for the dean of the school. The University has named the central building of the group the Baker Library. At Mr. Baker's suggestion, the administra- tion building has been named Morgan Hall in honor of John Pierpont Morgan, LL.D. '10, a long time friend and business- associate of Mr. Baker. The dormitories and instructors' houses have been named in honor of the following Hnancial omcers of the national government: Robert Morris, signer of the Declaration of Independence, Superintendent of Finance under the Articles of Con- federation. Alexander Hamilton, first Secretary of the Treasury. Albert Gallatin, Secretary of the Treasury under Presidents Jederson and Monroe. Salmon P. Chase, Secretary of the Treasury, upon whom devolved the financing of the Civil War. Hugh McCulloch, Secretary of the Treasury, under Presi- dents Lincoln, johnson and Arthur. ' John Sherman, Secretary of the Treasury, under Whose guidance the resumption of specie payments took place in 1879. Carter Glass, Secretary of the Treasury, in the period follow- ing the Armistice of 1918. Andrew W. Mellon, Secretary of the Treasury since 1921. These buildings were completed and dedicated on June 4, 1927. 8