No. XLI. affairs of thousand dollars from the State, and by other causes, several impor- APPENDIX, tant changes in the management of its pecuniary concerns have been adopted by the Corporation. Some of these have already re- Pecuniary ceived separately the sanction of the Board of Overseers. But the the ColCorporation ask leave now to submit a statement of the most impor- January, tant, in order that their connexion and operation, as parts of a system, may be seen at one view. "Besides the plain obligation of bringing the expenses of the College within its income, which has lately been much exceeded, the Corporation found a motive for retrenchment in the conviction, that it is of great importance to reduce the necessary expenses of the students. In conformity with the advice of the Overseers, as Professorships became vacant, they have been united with others, or their duties assigned to other departments; and, in every such case, the amount paid to one Professor has been saved. The University Professor of Metaphysics has been chosen Alford Professor, and is to perform all his former duties, excepting such as were deemed inconsistent with the statutes of the founder, which latter have been assigned to the Professor of Rhetoric and Oratory. "The University Professor of Greek has, in like manner, been chosen Eliot Professor of Greek. The instruction in Latin, formerly given by the University Professor of that language, is now given by the Professor of Hebrew and other Oriental Languages; and the duties of the University Professor of Mathematics are required to be performed by the Hollis Professor of Mathematics and Natural Philosophy, and the Tutors in that department. And thus all the four University Professorships, those of which the salaries were paid wholly out of the general funds of the College, are abolished. "The abovementioned officers have consented to perform the new duties thus assigned to them, although the Corporation do not allow them any additional compensation. In this respect, they have varied from the former usage of the College Government, which was to grant additional pay whenever new services were asked of any officer of the College. But they are of opinion, that the salaries allowed to the Professors ought to be considered an adequate compensation for the devotion of their whole time and talents to the service of the institution. The stated salaries of two of the College officers, the Hersey Professor of Anatomy and Surgery, and the Smith Professor of Modern Languages, have been reduced by consent. "In the year 1813, a grant was made of three hundred dollars per lege, in 1828. No. XLI. APPENDIX, annum to the President, and of two hundred dollars per annum to each Professor, in addition to their salaries, to continue during the Pecuniary pleasure of the Corporation. This grant has been repealed. affairs of the College, in January, 1828. "The Treasurer of the College has declined receiving any compensation beyond the actual expenses which he shall incur in discharging the duties of his office. "On the resignation of the late Erving Professor of Chemistry, his former duties were connected with those of the Mineralogical Department. The vacancies which have lately occurred in the Rumford Professorship, and in the Royall Professorship of Law, have not been filled, but their funds are specially appropriated by the donors, and cannot be applied to the general expenses of the College. "A vote has been recently submitted to the Overseers for discontinuing the office of Secretary to the President. "A charge of ten dollars for Steward and Commons, has long been made on all the students. Half the amount is requisite to pay the Steward's salary. The other half is deemed only a just equivalent for the free use of the kitchens and utensils, and of the diningrooms and furniture, all which are owned by the College, and the repair of which is an annual charge. As this provision is made for the equal benefit of all the scholars, it is proper that the expense should be borne by all, and this charge is made for that purpose. To exempt those students who choose to board out of Commons from any part of it, would increase the expenses of those, who, from economy or other motives, board in Commons. A committee of the Corporation has been instructed to make a new contract for Commons, with a view to diminishing the price, without reducing them in quality, and instructed to apply to this object the whole amount received under the charge above mentioned, excepting what is allowed for the Steward's salary. Another committee has been instructed to take measures for lessening the price of text-books. These have heretofore been furnished at less than the retail price, by a bookseller, who has sent the names of the students receiving them to the Steward, by whom they have been charged in the bills. It is believed, that the College may purchase them for cash at a still lower rate, and it is intended to supply the students with them at The Professor of Modern Languages, some time since, made a contract for importing the French books needed in his department, by which the price to the scholars was reduced from seventy-five cost. cents to twenty-five cents per volume. In other text-books, so great APPENDIX, a reduction cannot be expected. No. XLI. affairs of the Col lege, in January, 1828. "Experience has shown, that the manner in which the students Pecuniary were formerly provided with fuel, though adopted with a view to economy, is not, in fact, economical. The sloop Harvard, which was owned by the College, and employed as a wood-coaster, has accordingly been sold, and contracts have been made for furnishing students with wood at a much lower rate than formerly. The price next year will probably be still further reduced. It being also found, that the printing establishment, formerly belonging to the College, had not been, as was expected, a source of income, but one of great expense, it has been sold. Several other changes in the investment of the College property have been made, with a particular detail of which it is not necessary, at this time, to trouble this Honorable and Reverend Board. "They are all recommended by the result of a most minute and careful investigation of the pecuniary concerns of the College for the last seventeen years, and, being founded on such long experience, seem entitled to our confidence. "The subject of grants to beneficiaries is one of peculiar interest. There are some funds in the hands of the Corporation, expressly appropriated by the donors to that use, and which, of course, must always be so applied. In addition to these, it has been customary to make grants to poor and meritorious students from the general funds of the College. So long as the grant from the State, of ten thousand dollars per annum, enabled the College to bestow such bounty, the propriety of doing so is not questioned; but in its present condition, it is the opinion of the Corporation, that all the funds. under their control ought to be applied to the purpose of lessening the general expenses of education in the University. A different course, under existing circumstances, would leave the College open to two classes of society only; those to whom the expense of education is not felt as a burden, and those who are supported by the public bounty; and would tend to close it against the great mass of the community. It is apprehended that this was not the design of its founders and benefactors, and would not promote its interests or its usefulness. Even in distributing funds given expressly for the poor scholars, the Corporation think it not unreasonable, that among claimants equally deserving, those should be preferred who will undertake the offices of Monitors, Proctors, and others, not interfering with their studies, or derogatory to their standing, and thus 71 VOL. II. No. XLI. affairs of the College, in January, 1828. APPENDIX, relieve the College funds from the charge of salaries for such officers. It would seem, that a young man of liberal and ingenuous Pecuniary feelings must rejoice in such an opportunity to contribute to the public good, while receiving the public bounty, and feel an honest pride in the reflection, that the allowance made to him was not merely gratuitous, but was in part, at least, if not wholly, the reward of his honorable industry. As, however, many students have begun, and some have nearly finished, their education, by the aid of this bounty, and in the natural expectation of its continuance, it is not the intention of the Corporation to withdraw at once the whole amount allowed from the general funds to beneficiaries, but to appropriate only so much as shall be necessary to prevent their being injured by the disappointment of their reasonable expectations. During the present year, the reduction will amount to between twelve and fifteen hundred dollars. "The effect of these changes is not yet perceived in the termbills, as they are not all in full operation, and some deficiencies must be made up before the present charges can be diminished, without the risk of reducing the income of the College below its expenditures. But it is expected that the charges for Commons and for text-books will be lessened this term; and that, after next Commencement, the charge for tuition will be lowered, in conformity with the vote already passed by the Corporation, and approved by the Overseers. This charge for tuition, however, constitutes but a small part of the usual expenses of the students; many other expenses may be much diminished by a due regard to economy on the part of the student, or of his parents. When a young man and his family are making exertions, and submitting to privations, to procure for him an education on which his future respectability and success in life must depend, it is worse than foolish for him to strive to emulate his more wealthy companions in their style of dress, furniture, and other personal expenses. The institutions of our country, and the habits of society among us, allow but little weight to the accidental distinctions of wealth or rank in the community, and still less should they be regarded among the enlightened and ingenuous youth at the University. The only distinction, that should be coveted there, is that which is derived from superiority in moral and literary attainments. "The saving to the College, in consequence of new investments, and to the students, by reducing the charges in the term-bills, cannot, at present, be accurately estimated; but the diminution of the No. XLI. annual expenses paid from the general funds of the College, in con- APPENDIX, sequence of the principal measures above stated, will, it is hoped, bring its expenditures within its income. "All which is respectfully submitted, by the President and Fellows of Harvard College. EXTRACT FROM THE REPORT MADE TO THE CORPORATION "To the President and Fellows of Harvard College. "The Committee have examined the account of the stock, beginning on the first page of the Journal, and containing a statement of all the bonds, notes, mortgages, stocks, and other property, which originally came to the hands of the Treasurer, to be accounted for according to his receipt therefor, given to a Committee of this Board; and all subsequent entries in the Journal, showing what he has received since that time. They have also called for all those bonds, notes, mortgages, certificates, and other evidences of property, and have seen that every one is now in the possession of the Treasurer, or is fully accounted for in his books. They have also noticed all payments, both of principal and interest, indorsed on any one of the said bonds or notes, and seen that the amount so indorsed has been duly credited to the College. The Committee have also carefully examined all notes, bonds, mortgages, and other securities for money invested by the present Treasurer, and take great pleasure in saying, that all his investments are, in their opinion, very judiciously made, and amply secured. "They have, in like manner, examined all the entries of the Extract from the Report of the Standing Com mittee on the Treas urer's Ac counts. |