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4 THE PROSPECTOR three a companion who from his sixteenth year has continu ously occupied a similar position. I speak not here of those whose foolish pride would grasp the top of the ladder, dis daining the lower rounds. These must always fail. My statement applies only to those whose heart is in their work, whose spirit is that of those brave men “ who, while their com panions slept, were toiling upward in the night.” Industry is an essential condition of success in any walk of life, but it is the intellect of the college graduate, quickened by disci plinary studies and formed to habits of method, of analysis, of comparison, that gives him a decided advantage in business over his companion of the mere business course. A great European university, after a trial of ten years, declared that the graduates of the commercial schools are not on a par with the graduates of the classical schools in the pursuit of professional and philosophical studies, and that un less the plan of admitting both on equal footing be changed, national scholarship would soon be a thing of the past. The reasons given were, slower development, superficial knowl edge, lack of independent judgment, inferiority in private re search, less dexterity, want of keenness, and defective power of expression. If the student of the practical and merely secondary school is not a match for his fellow of the college course during the time of his training for the professions, how can he compete with him, other things being equal, in the arena of practice? We sometimes hear it said that labor does it all—that labor is the source of all production. Such a statement is made only by demagogues who would make political capital out of labor. Competent experts have calculated that seven- twelfths of the production of great industrial enterprises is due to - ability, and only five-twelfths to labor. It is the ability to organize, to foresee and forestall difficulties, to open up markets, to compete, to govern, to direct, to improve, to furnish occupation, to create opportunity, which makes the largest contribution to the success of great industries. Whence that ability? Barring exceptional natural genius, it is the product of mind developed by education. The rail roads and the mines will not even admit to their engineering