Word: fund
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Dates: during 1920-1929
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...Hamlen's statement, comes a leading editorial in the Independent for May 1, entitled "Universities and Givers." "An interesting and significant step," says the editorial, "has recently been taken at Harvard. The graduates and governing authorities of the university have established what is to be known as the Harvard Fund--to be raised annually among the alumni by voluntary contributions and paid into the treasury of the university without restriction as to its use and with entire freedom on the part of the Harvard Corporation to use as it may determine...
...gives the John Cadwallader Grimshaw Dormitory or the Grimshaw Laboratory; or he establishes the Grimshaw Scholarships; or perhaps, being interested in some special branch of study, he establishes the Grimshaw Research Fund, hoping that he may thus make possible some discovery which will be connected, however vaguely, with his name. Possibly, he attaches to the gift, not his own name, but his father's or his wife's or his son's, setting up a memorial to someone other than himself. But the principle is the same in each case: the desire for praise and immortality--if only a vicarious...
...university. His gift is welcome; make no doubt of that. But does it enable the university to accomplish more adequately the work to which it is already committed? Only too often it extends the work of the university without strengthening it at the center, or adds money to some fund which is relatively ample. Sometimes the situation is even worse than that: many a university has been presented with a proud building, yet has not received adequate funds for upkeep, with the result that financially the institution is almost worse off afterwards than if it had received no building...
...what of professors' salaries, of the expense of giving regular instruction to the steadily increasing student body? Mr. Grimshaw's gift of a building or a scholarship fund or a research fund does not add a cent for these purposes. The situation of the university treasurer thus often approaches that of a man with an automobile whose engine constantly calls for repairs, but who is overwhelmed with Christmas presents of spare tires, wire wheels, speedometers, and fancy headlights. All these presents are delightful, but they do not help the car to climb hills! Or it reminds one of the situation...
...That is the problem which the Harvard Fund is designed to meet so far as Harvard is concerned. With all its millions even with the Endowment Fund raised five years ago Harvard is short of funds to pay its professors as they deserve to be paid and to give its undergraduates that direct individual instruction which is the glory of the small college and the dispair of most large ones...