I feel that this subject of the asset value of the special library is
one that is bound to be constantly growing in interest, because, of
course, the tendency of business is to scrutinize carefully the things
which it pays money for, and unless it can be shown that the library
has some asset value, naturally, the library will come in for the
first cuts in the budgets, and, later on, a complete cutting off. When
the subject was assigned me by Mr. Marion he put the subject as "The
library as a business asset." I have therefore discussed the subject
from that standpoint, and inasmuch as it seemed to me that the whole
thing resolved itself into a few very general and broad principles I
have not made any attempt to consider details at all, but have assumed
one or two things that it seemed to me must lie at the bottom of the
whole proposition and must decide for us whether the library is to find
a place among commercial assets and is to receive from business the
support to which as an asset it is entitled.
[16] Abstract. The full paper will appear in "Special Libraries."
An asset, in business, is a debt-satisfying possession. In determining
business solvency assets are set over against liabilities, and if the
former exceed the latter, the business is said to be solvent. The term
assets is applied technically to _material_ possessions. But there
are possessions other, and even more essential than material: these
are the _moral_, out of which assets grow. At the foundation of every
business lie courage, competency, integrity, perseverance. These cannot
be computed or averaged, but their commercial value is everywhere
recognized.
Wherefore, let us at the outset agree that when we speak of the library
as a business-asset, we speak not of its value as so many books and
pamphlets, but of its value as a contributing agency to those more
fundamental possessions to which material assets owe their existence.
What, then, has the library contributed and what may it in the future
hope to contribute that will add to business courage, integrity,
competency, perseverance In a word, to business efficiency?
The answer is found in a measure in our conception of a library and its
function. Shall we then describe what we have in mind when we speak of
the library that may become a business asset?
It certainly is not any collection of books and pamphlets under any
custodian and handled probably more often by the janitor than the
manager. That is not the kind of library that we have in mind. Our
library is a collection organized and planned for a definite end....
The measure of its value is to be sought in increasing efficiency
of personnel; wider outlook, clearer vision, firmer grasp, greater
fortitude.
It would be pleasant to think of the precise manner in which a library
might entrench itself in business favor, until it became admittedly
indispensable. Such an experience is not uncommon. Libraries there
are today--adjuncts of successful business houses--which stand on a
plane of equality with every other department; whose directors are in
every sense advisers; whose position in importance and dignity yields
precedence to none. They add efficiency to the entire staff, and by
breadth and merit bring distinction to the business they serve.
The asset value of a library is dependent upon a variety of conditions.
Foremost among them, I should say, must be a condition of receptivity
on the part of business itself.
Again, and only second in importance, is the attitude of the library
towards business. If the library shall cling to traditional aims;
shall overestimate the importance of conventional methods; shall hold
disdainfully aloof from those adaptations and changes which alone can
make it useful to business, then its asset value will never be large or
general.
Finally, assuming business and the library to agree as to their mutual
helpfulness, the lines along which they are to co-operate, if the
results are to be satisfying to both, must be susceptible of being
easily seen and followed....
At no time in the history of the modern business world has the
opportunity been so favorable for a lasting alliance between the
library and business. Business was never more complex, nor more moral.
Greater wisdom is required to develop it. It is more sensitive.
Results come quicker, failure follows more promptly on the heels of
error--success almost anticipates the footsteps of sound judgment.
Consequences are more far reaching. Disaster to one involves
many--while bankruptcy carries overthrow and panic to hundreds of
others.
The greater demands of business are seen not only in the enormous
growth of industrial enterprises, and the larger responsibilities of
management, but in the increasing numbers of college and university men
who are seeking business careers.
Again, an almost revolutionary change has taken place in the public
attitude towards business of every kind. It matters not what it is.
The idea now is that men live for service; that men organize socially,
commercially, and industrially for service. And if any organization
is unable to undergo this test it must reform, or stand aside and
let a better take its place. This I take it is the interpretation of
the great unrest which has possessed England and America in the last
decade....
All these--this increasing complexity, growing sense of social
responsibility, demand for an increasing inflow of college men into
business--spell opportunity for the library as an indispensable
adjunct for business enterprise. Answering for our first condition,
then, it may be said that business is in a receptive mood, and that it
stands ready today to welcome among its productive forces the library
organization.
But if the library is to be truly an asset to business enterprise,
the library itself must recognize not only its opportunity but its
responsibility. The failure of the general library to lead in this work
of aiding business in the solution of its problems has been inevitable.
Business wants its own technology; it wants pamphlets, clippings,
reports--all sorts of special things which no public library with all
its other obligations could ever hope to get and to classify.
Hence the need of specialized libraries and special methods. It is
evident that the special library has a whole field of methods yet to
amplify, systematize and unify. If the library is to help business
it must be organized as business is organized. To get everything
on a subject may be necessary for some purposes, and is always
interesting to the bibliographer; but to get the adequate thing is the
business-librarian's ideal of service, and if he misses it he may wake
up surprised to find his labor unappreciated.
Business is multiplying short-cuts, motion-savers, "efficiency" getters
in every department; it will tolerate nothing less from the library.
It is for the library to prove its value--to demonstrate its practical
worth by adjusting itself to the business environment. It must not
follow too closely the traditions of general library work. It ought
to be familiar with general library methods; but it should never lose
sight of the fact that general library methods were devised with an eye
single to general library problems. The problems of a business library
are different.
This, then, is the duty of the business library if the title to
asset-value is to go unchallenged. And the library may be certain that
business will not take it at its own appraisal but will demand to see
for itself whether its claims are justified.
Business libraries in many cities are justifying their existence and
are gradually making for themselves a secure place among the assets of
the enterprises which they represent.... Finally, how are the library
and business to co-operate for their mutual advantage?
It is evident that in this respect business has to perform a duty even
greater than we have laid upon the library itself. If the library is
under obligation to adapt itself to the needs of business, business is
under special obligation to place its resources more completely at the
disposal of the library. It must take the library seriously and plan
for it accordingly....
Business fails to appreciate the ally that it might have in the well
conducted library. It appreciates and at times is mildly grateful for
the library's service; but it has shown no great discernment when
it came to an understanding of the means by which the service was
rendered. It asks for and expects results; but has little appreciation
of the price at which results must be bought.
An indispensable requisite of a business library is a librarian
thoroughly conversant with the main facts of the business. He must know
its theory and history. He must be freed from routine at least to the
extent necessary to enable him to become an expert in the materials
which he handles. He must be treated as a literary adviser and given
the opportunity to develop literary discrimination and judgment in the
field which he covers. Then he becomes more than a custodian of books;
he is a counselor, impressing his personality upon a unique source of
business inspiration, namely, the business literature of his collecting
and bringing direct to his superiors the information which they will
know how to use for the good of the business as a whole.
Subordinates, working under him, will assemble, classify, card index,
bulletin and distribute, while the library itself will stand on a level
with manufacturing, accounting and selling. It will be a department of
the business, organized like other departments, for efficiency....
The library may adapt itself to business, but it is for business to
say whether the adaptation shall be thoroughgoing and effective. Is
the library, then, a business asset? My answer is that it is such just
in proportion as business is willing to let it be. When business shall
treat it as it treats other factors of business success, discerning
its possibilities of usefulness, encouraging and planning for its
development, adapting it to the requirements of business activity, then
it will justify itself unquestionably....
Business has already awakened to the possibilities of library help,
and wherever it has done so with insight and courage it has answered
for itself the question which we have here proposed. In banking, in
finance, in engineering, in applied chemistry, in insurance and in
numerous other fields, business has set itself to the task of adapting
library methods to business needs. Special collections administered
for special requirements are springing up in every large city, and the
liberality with which these are beginning to be supported is in some
respects an indication of business' own estimate of their value.
The VICE-PRESIDENT: The matter is now open for discussion, and I will
ask Mr. Morton, librarian of the United Gas & Fuel Company, to be the
first speaker.[17]
[17] Mr. Morton's discussion will appear in "Special Libraries."
The VICE-PRESIDENT: The next speaker is Miss MARGARET E. MURRAY,
librarian of Wm. Filene's Sons, Boston, who will address us on the
subject