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Rh minimum of expenditure. As far as true educational work is concerned, it is not too much too say that a very large part of the gifts might as well as not have been withheld.

As has been said many times respecting other matters, things have reached such a pass that a change for the better must come soon. But the change will not come of itself, it must be brought about. Some have suggested that there be frequent consultations of college presidents; others, that the presidents and representatives of boards should meet for conference. But there is no promise of relief in such suggestions; whatever of promise there is looks rather toward making matters worse. There is no possibility of change for the better until there is full recognition in practise of the academically undisputed fact that the university in its essence is educational, all else about it being purely incidental. With this will come recognition of another fact, that no one should be entrusted with the executive duties of a university or college unless he have had as thorough training for the post as that required of bank presidents. It will be recognized also that choice of this executive officer should be made by those whose special training has fitted them to judge respecting the qualifications of a candidate. A board of clergymen and college professors, no matter how eminent they might be, would not be thought competent to select a president for one of our great banks. Even before recognition of these facts, men should see that no return to a proper ideal is possible so long as the whole policy of a university is dictated by one man. Recent explosions in the business world have proved this true for commercial corporations; it is equally true for educational corporations, more important than the others, in that their influence is not local and temporary.

The teaching staff must be recognized as the all-important part of the institution, for whose support and encouragement all other parts exist. The presidential wedge, now constantly widening the gap between the business and the educational interests, must be removed and the gap closed. The business man and the teacher must be brought into contact, the inevitable result being, as Mr. Monroe has said, great profit to both.

The organization of many universities is so complex that genuine re-adjustment can not be effected rapidly and a modus vivendi is necessary during the interval. This is possible with merely statutory changes. Faculties should elect their own officers. No change in the curriculum or assignments, no subdivision of chairs or creation of new ones should be made except upon recommendation of a committee for each faculty, consisting of trustees appointed by the board and of professors elected by the faculty concerned. Equally, no appointment to