Page:A History of the University of Chicago by Thomas Wakefield Goodspeed.djvu/211

 FIRST STEPS IN EXPANSION 181 .... I stand in awe of this thing. God is in it in a most wonderful way. It is a miracle. The report was accompanied and mightily reinforced by six complete exhibits. In commenting on exhibit "D" as to pro- fessors needed Mr. Gates said: A salary list of one hundred and sixty-four thousand dollars is only a fraction, a small fraction, of what Yale, Harvard, or Columbia spend. When this is provided for we shall have only too little to meet the requirements of the opening. The above is a compromise between Harper and myself as to what should be laid before you on this head. We have wrangled up and down on every point. Harper insists that much more is absolutely demanded, that more subjects and more tutors and assistants must be added. But I refuse to be dislodged from the position that some of the headships will decline or can be left vacant for a while, thus releasing funds for more subordinate work, and further, that it would be better for you, even if you were disposed to grant all he wants, to wait until the opening actually reveals the exact situation, so that something might be left in the way of possible funds to provide for unforeseen contingencies. As soon as Mr. Rockefeller received this report he wired Mr. Gates saying: It is of course a surprise. Can say nothing encouraging, but deem it desirable to have an interview with you. The interview took place on February 10 at Forest Hill, Cleve- land. On February n Mr. Gates was back in Chicago for a conference with the Trustees. Nine days later he was again in Cleveland by invitation, received from Mr. Rockefeller the promise of a million dollars for the University, and the form of the letters of gift and of designation was practically agreed upon. In asking for two millions Mr. Gates had indicated that what he had in view was primarily to add between ninety and a hundred thousand dollars to the income for the opening year. Mr. Rocke- feller met this demand by making a contribution of a million dollars, bearing interest at five per cent from the first of the pre- ceding December. This provided that forty-one thousand, six hundred and sixty-six dollars of interest would accrue before the opening of the University on October i, 1892, and, with the regular annual income from the gift, would provide for the first year of