Word: biko
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Dates: during 1970-1979
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...with a possible boycott of the remainder of the Fund. Harvard students could use a carrot-and-stick strategy in dealing with the Corporation and its investment policy. If the Harvard Corporation continued its investment policy with firms with subsidiaries in South Africa, seniors and alumni could support the Biko Fund and boycott the remainder of the Gift Fund. If the Harvard Corporation adopted a more socially and morally responsible investment policy, then seniors and alumni could support both the Biko Fund and the remainder of the Harvard Gift Fund. In either case, seniors and alumni could do something...
...South African black students would fill a financial vacuum for these students. Recently however, after reviewing the functioning of the Fund. I discovered that the Fund would not actually fill a vacuum. Indeed, because the College's equal access policy covers foreign as well as American students, the Biko Fund money would actually serve as a substitute for money already forthcoming from the College financial aid office. From this realization, it followed that the Biko Fund would not have a diversionary effect on funds donated to the Harvard Gift Fund. In fact, unless it reached levels of phenomenal proportions...
What this meant in the long-run was that the carrot-and-stick approach would be taken away from Harvard students if they supported the Biko Fund. Moreover, the Fund might be then used to detract from the real target of student concern on the South Africa issue: the Corporation's investment policy. Weighing this result against the very limited symbolic significance of the Biko Fund, it became clear that the political costs of keeping the Fund would far outweigh its benefits...
After much thought and agony. I am as of this day withdrawing all support for the Stephen Biko Memorial Fund. For I believe that any tactic which substantially damages the chances of accomplishing the long-term goal should not be supported. Since the Biko Fund takes from students the financial lever--perhaps the only one left after failed marches, failed petitions, and failed discussion--it should not be supported. Support for such a Fund should come only after the Harvard Corporation has adopted an investment policy which clearly supports the withdrawal from South Africa of all American corporations in which...
...response to recent questions concerning the efficacy of the Stephen Biko Memorial Fund, we feel it necessary to clarify its positive aspects...