Among the names of those who have led the great advance of the industrial arts during the past thirty years, that of Frederick Winslow Taylor will ho… - Henry R. Towne

The monogram of our national initials, which is the symbol for our monetary unit, the dollar, is almost as frequently conjoined to the figures of an engineer's calculations as are the symbols indicating feet, minutes, pounds, or gallons. The final issue of his work, in probably a majority of cases, resolves itself into a question of dollars and cents, of relative or absolute values. This statement, while true in regard to the work of all engineers, applies particularly to that of the mechanical engineer, for the reason that his functions, more frequently than in the case of others, include the executive duties of organizing and superintending the operations of industrial establishments, and of directing the labor of the artisans whose organized efforts yield the fruition of his work.

As an engineer by training and practice, and as a manufacturer having upwards of thirty-five years of practical experience in industrial management in many phases, I avail myself with pleasure of this opportunity of meeting this large body of students who are preparing themselves for active work in the world, and of submitting for your consideration some suggestions concerning your future work, especially in the field with which I am most familiar and in which some of you, I feel sure, will find your best opportunities, and which will form the topic of my argument, namely, Industrial Engineering

The Engineer is one who, in the world of physics and applied sciences, begets new things, or adapts old things to new and better uses; above all, one who, in that field, attains new results in the best way and at lowest cost.