University of Arkansas Fayetteville - Razorback Yearbook (Fayetteville, AR)

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BUILDING PROGRAM GREATLY AIDS LAW SCHOOL Another Step for School of Law. Conference Rooms and Library Space Provided The School of Law entered upon another distinct period of its history in the academic year of 1935-36. For eleven years the law school was located in the basement of University Hall. In the spring of 1936 one of the old buildings on the campus be¬ came the first law building. This building made avail¬ able for the first time adequate library space for housing the extensive law library, which now consists of over twelve thousand volumes. As a result of many changes and repairs in the old building the law school now has its own classrooms, a number of office rooms, a reading room, and several conference rooms for the convenience of law students. DEAN J. S. WATERMAN Law ® Students who attended the law school in the years gone by, even though they became attached to the old quarters in University Hall, will no doubt be gratified over another step in the development of the School of Law. J. S. WATERMAN Page 32

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FINDING JOB EMBRYO ENGINEER ' S FIRST THOUGHT Opportunities for the Young Engineer Have Increased as Result of Accrued Depreciation in Industrial Machinery • Engineering is a profession involving the characteristics of science, art and business, and re¬ quires a knowledge of the physical laws of Nature, the mechanical properties of materials, the physical sciences—mathematics, physics, chemistry and me¬ chanics—, and the social sciences. • An engineer may practice his profession as an employee of a municipality, a corporation, a public utility, the Government or other public body; or, he may practice as a consulting engineer, or as an em¬ ployee of a consulting engineer. As an employee he receives a fixed salary. As an independent consulting engineer, his charges being a per diem fee or a per¬ centage of the cost of the work, his income depends upon his ability to sell his services and to render such satisfactory service that he will be sought by other clients and be recalled by satisfied ones. • On graduation from college the embryo engineer ' s first thought is to find a job so that he may help to start the wheels of industry which seem, recently, to have bogged down. For the past four years most beginning engineers have landed their first job in one of the Government ' s alphabetical adminis¬ trations. As industry has been restored to normalcy, opportunities for the young engineer have increased because of the accrued depreciation in industrial machinery. • The College of Engineering, through its per¬ sonnel department, is keeping in touch with its gradu¬ ates and is finding increasing opportunities to aid them in securing positions in their chosen fields. The prospect for a successful career in Engineering was never brighter than that opening before this year ' s gradu¬ ates. W. N. GLADSON DEAN W. N. GLADSON Engineering Page 31

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NEED FOR BUSINESS AND PUBLIC ADMINISTRATORS Arkansas History Shows Need of Business Education Says Fichtner • It may be appropriate to recall in the CENTENNIAL RAZORBACK that the first business of the first Legislature of Arkansas was to create two banks: the Real Estate Bank on October 26, 1836, and the State Bank of Arkansas on November 2, 1836. The brief but tragic history of these banks is epi¬ tomized in the first amendment to the Constitution of Arkansas, enacted by both houses of the Legislature without a single dissenting vote, No bank or banking institution shall be hereafter incorporated, or estab¬ lished in this State. • The socialistic experiment of the State in the banking business a hundred years ago might be used to advantage in studying many contemporary eco¬ nomic problems. Certainly the failure of that experi¬ ment can be cited to point at least one lesson, namely, the importance of a comprehension of economic prin¬ ciples and methods of control on the part of those charged with business or public administration. The promoters and managers of these early banks had little conception of the functions of banking, or of methods of business administration. Capital was dissipated in financing speculative land dealings. Bank credit was unnecessarily expanded, with the result that for years the people were plagued with the evils of a depre¬ ciated money. Defaults occurred on State bonds. Arkansas, in consequence, suffered impaired credit and impeded economic development. DEAN C. C. FICHTNER Business Administration • The School of Business Administration sets as its first obli¬ gation the training of good citi¬ zens who will be motivated by a deep sense of social responsi¬ bility and capable of prudent busi¬ ness leadership. Economic ills can seldom be remedied by legislative or executive fiat. Bureaucratic domina¬ tion may well create more evils than it overcomes. Hope rather lies in the direction of improvement of the personal qualifications of business and public administrators, and their training in rational and time-tested methods and principles. It is to this unspectacular but solid function that the School in its very small sphere is dedicated. C. C. FICHTNER Page 33