[originaltext] As every schoolboy knows, the important raw materials of Indus

As every schoolboy knows, the important raw materials of Industry are coal, oil and iron. But,  as every businessman knows, the most important raw material of all is the schoolboy who, as a trained college graduate, will run the U. S. Industry of the future. Today U. S. Industry is faced with a slight shrinkage of such manpower, it needs not only more but also better-trained college graduates. To help get them, many a businessman believes, that corporations must, first, provide much of the cash needed by colleges to expand heir facilities and improve their teaching and, second, work more closely with colleges on business’s needs. As Robert R. Young pointed out at a White Suplhur Spring conference of businessmen and educators,  industry and education have a clear mutuality of interest. Businessmen and educators have not always recognized this. While there are few businessmen who still regard college professors as buzzy-minded and likely to be radicals, and a few educators who still look on businessmen as mere money-grabbers, the mutual distrust has generally disappeared in the mutual need. The rapidly expanding U. S. economy has made college graduates more important than ever to industry. In turn, universities must depend increasingly on corporations for contributions,  since high taxes have all but cut off the flow of the big individual contributions that built the private school.