UA-R-GC-1914-01-01-1960-03-12_Page-055

I I I In .'l rl ~ i 1: tnn to t he two new f aculty members and expn.nded librllry r ro clli t~c s nrp('kd f or each additional .tA T)Togr am, the Uni ver~ ity Sh01 I d h"vc a t I f! ," st three e ndo~rcd chairs to a ttract hi(!'hly qualified, d iR ~ '~ nr1l 1 \'I c: ~ "":rof ;' ~ s or s Hi.t h i nternational r ecoenition in t heir fie l ds . Th :se ~ i stinru i R hecl n rOf eSS('IT ~: ha1rs 'It'ould be in t h: Sci nc, s , t he Au ll'nitic s , a nd t he Snc i lll Scienoe s . l1t~ T "ILL 'j~ HE PP.OOI'·.M. Co.'>T? The Universi ty today 1s ooorating on a very close budcet of 8:,pr(lY; '.'ltl" l,v .,;:600, 000 . T:1at i t has been <:!hl e to l'Pk'tini.>in its pre s e nt er celle nt edllcation.-"ll sY3tem Rnd f acilitie:s at tes t s both t o rood bus'; ne ss p.1f'ctices f'1'ld tn tho c a nSCTC!'e; t 10n of an underpaid f:>cu lty "l. nrl s1 pff "'he a r e 1 orkin/! fRT a CI'\USC, t he ('Buse of a "Icac ~ fll l 1 orlel . For the past several ~rell rs, the Unive rsity not only has lived Fithin t his morest ' lunpet , but h::t s b.:-cn ahle out of its ope r ating f n.4s t o "':1ll.kE:: s lIk"!.ll l'e clu c ~tio ns of the i ndebted ness i ncu r r ed in tl-tc fO'·tie s <, n~ c"rl,1t fiftie s . Ahout onc - f01..H'th of the ope r a ting cost.s of the Unive r sity comes f rC'1Tl st ndent f ee s , pr.ile t.his is only half the sun I)rt that corr: s from this SOUl'C El in a n orni nary American college or Unive r sity, it must he l"'el'l1<:'llh T'od tpnt the economi c circu'llstn nces , r evaili ng in t he '[V(ll e East :'Il.1.ke it i llMoss i bl ,:- for this yr oy>ol'tion to be r adic.otlly c h ~ n red . Anot her f OUl th of the op-= r atinp.: cnsts come.S a s i ncome fr0m e ndoP'Tl( nt . At l ea s t half of the op ... r atinr Cf'!s t s mUf; t J +}1(! J"eforc , be met by f!ift s from :i ndividuals eo. nd gr ;, nt s from foundat 5 ons ann cor porations . In o r der to achieve i t s maximum usefulne s s , lhe UnivLr sity shoul d hnve an onc:rnting budget cf a t l eAst of million dollars a year . At l c:tst hAlf of this extra :lPhOO,OOO in i nc ome bhonld c ome frol'll an i. ncrea sed e nd Ol" !T1e nt f und, s i nce it would be extremely nifficl'lt to conti nuo t G r a ise an additional sum such as t his each yerr, t hrouph r.ood vears ,"lnd bad . Thu~ , the Univen:ity nolo' needs additional unl'c :'ltric ted e ndOl·;ment of ~ h , OOO , OOO , to nr ovide i ncome for cur r e nt oper a ting expe nse s . In a c'dit i o n, ot he:r endoF,e nts should be s ecured t a provide for specific rr"!.ou;-. t o a r'- , s ~ml for t he di st i n ·uish.::d " r ofl ssorshi ps . EndOl·r,h. nt f or v<'I, r ious r.raduat e Are.<!. s , prof€f' s nrships ~ nd sc hol o.rships can ""r~ rnE ;tl1<' t e t he lIemory of th(- c onal'" or a ~) el' son of the donor ' s choiee . 6/ •