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 FOREWORD

BY HENRY R. TOWNE

Past President, A.S.M.E.

President of the Yale and Towne Manufacturing Company

S a fellow-worker with Dr. Taylor, in the field of industrial management, I have followed the development of his work, almost from its commencement, with constantly increasing admiration for the exceptional talent which he has brought to this new field of investigation, and with constantly increasing realization of the fundamental importance of the methods which he has initiated. The substitution of machinery for unaided human labor was the great industrial achievement of the nineteenth century. The new achievement to which Dr. Taylor points the way consists in elevating human labor itself to a higher plane of efficiency and of earning power.

In a paper entitled "The Engineer as an Economist," contributed to the Proceedings of The American Society of Mechanical Engineers in May, 1886, I made the following statements:

"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 5