It is a great honor, deeply appreciated, to be chosen first president of the Economic History Association. I cannot pretend to act as spokesman for this newly organized scientific group. I assume that I owe my present honor and responsibility partly to the number of years I have imperfectly taught economic history—and, I hope, stimulated some interest in it—and partly to your recognition of the principle of historical continuity. For I was a student under Schmoller at Berlin; he in turn was a pupil of Roscher (whose last lectures at Leipsic I heard); and Roscher, almost a century ago, was one of the first historical economists and the original formulator of a program for the new “school” of economics. I wish to recall to your attention these beginnings of our discipline in order to emphasize how the subsequent shift in its development has made us economic historians instead of historical economists.