The creation, growth and history of white, coeducational, four-year, small, Protestant, liberal arts colleges in the South during the period between the Civil War and World War II are reviewed. The primary issues discussed are the geographical location of such colleges, their religious atmospheres, the problems of the college constituency, the problems of college governance, and raising and spending money. It is concluded that: (1) the desirability of a rural location, as a safeguard against the sins of the world, restricted the development of the college in many cases; (2) the degree of religiosity was not extreme; (3) the actual control by religious denominations was limited by local constraints and lack of adequate support for the college by the denomination; (4) college presidents became increasingly more powerful as local control by trustees dwindled; and (5) the colleges failed to deal with their financial problems in any coherent and consistent manner. Contains 47 reference notes. (KM)