Colorado College - Nugget Yearbook (Colorado Springs, CO)

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12 THE PIKE ' S PEAK NUGGET JWtomucmcitts THREE HUNDRED THOUSAND DOLLARS TO BE ADDED TO THE FUNDS OF COLORADO COLLEGE The financing of a modern college is an enormously difficult undertaking and the cost of the maintenance of higher education is increasing every year. Build- ings, equipment of laboratories, libraries, salaries, incidental expenses and many other things make the annual budget a very serious matter for those who have to provide for it. When Colorado College passed from the stage of a local school into that o an institution for higher learning, with its departments of science, its enlarged faculties, its complicated equipment, it had to meet the problem which comes to every college of first rank : that of providing funds for its plant, the annual ex- penses, and most important of all, an adequate permanent endowment fund. When President Slocum came to its presidency, there was practi cally no equipment, and only one very inadequate building. There was no library worthy of the name and no endowment whatsoever. The task seemed an impossible one ; for it involved the erection of costly college halls and their furnishings, a library building, and the accumulation of a large endowment fund which should cor- respond with that of the older Eastern institutions. Hagerman Hall was first erected as a home for men, and in these twenty- three years of the present administration, over seven hundred thousand dollars has been put into the necessary buildings and their equipment, the erection of a library, and the purchase of over fifty thousand volumes for its shelves. In addi- tion it has been necessary to provide for annual current expenses, which have increased from eight to over fifty thousand dollars a year. The College receives nothing whatsoever from state or national funds, as do all the state institutions which are always supported by the tax-payers. The receipts from tuition at Colorado College pay less than one-quarter of the current expenses, and nothing for the erection of buildings and their equip- ment fund. The thing that is most essential in financing a modern college is the creation of an endowment fund, the interest upon which can be used for the payment of salaries and other necessary expenses. Without such a fund, an institution of the character of Colorado College can hardly exist at all, as it cannot depend as does the State University upon money supplied by public taxation. The creation of an endowment fund was one of the things to which the present administration set itself from the very first. With this in view, Dr. D. K. Pearsons of Chicago was told about the College, and as a result he promised to give to its endowment funds fifty thousand dollars, if one hundred and fifty thou- sand more were secured, and this project was brought to a successful conclusion.

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THE PIKE ' S PEAK NUGGET 11 preface We are glad to put this book into the hands of the students and friends of Colorado College, and in proportion as it meets with their approval we shall feel rewarded for the labor which it has cost us. Our effort has been to preserve here a record of those things which are really worth while, and the memory of which will be made more vivid by the sight of the printed page. A college life is so pleasant and so different from anything else that it must throughout life be the source of ever recurring memories, and if by this book we can increase the pleasure of those memories we shall be satisfied. We expect criticism, both favorable and unfavorable. To those who criticise us favorably we say, Thank you ; to the others we can only say that we have done our best for our College and our class. S. T- S. (Contributors The following persons have rendered valuable assistance in the compilation of this book by the contribution of articles, drawings, or photographs : President Slocum Homer E. Woodbridge Roger H. Motten Donald Tucker Irene Anson Fred S. Baker W. C. Barnes E. W. Barnes Alice M. Brown Paul H. Clifford David Smiley E. B. Fowler J. E. Fuller Ellen Galpin A. L. Golden Bruce Gustin Alta Harris E. E. Hedblom Beth Knouse W. L. Meyers Henry Rhone L. L. Shaw Margaret Sherman Chas. K. Seeley B. P. Siddons Lois Smith Ray Templin J. B. Thornell L. M. Van Stone Grace Wilson Harry C. Wray

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THE PIKE ' S PEAK NUGGET 13 A few years later the President persuaded the the General Education Board of New York to give fifty thousand dollars on condition that four hundred and fifty thousand additional were secured. The task seemed impossible, but it was so essential for the future of the College that the new movement was set in motion. Then came years of hard discouraging work, and at last the half million was ob- tained, and today, with other gifts, the endowment funds of the College have been increased to nearly eight hundred thousand dollars, money which is largely in- vested throughout Colorado, thus helping in the development of the Common- wealth as well as in the support of the College. What has taken the older Eastern colleges often rhore than a hundred years to accomplish was done in less than twenty. Large as this sum may seem, however, it is yet small as compared with those of colleges like Williams and Amherst, which have neither more students nor larger faculties and yet possess endowments three and four times as large as that of Colorado College. These older Eastern institutions with large and rich alumni, are constantly securing gifts in wills and from wealthy friends, while Colorado College has to create its giving constituency. In the meantime our growing college, in spite of every economy has found its expenses increasing and its income inadequate. Notwithstanding the weari- some work of the past years, and in the face of the loss of such friends as General Palmer, a third movement has just been set under way by the administration, which involves the raising of an additional fund of three hundred thousand dol- lars of which one hundred thousand may be used for buildings, this having spe- cially in view the need of a gymnasium for men. After a number of months of planning and work, the President again induced the General Education Board to start the subscription with fifty thousand dollars, on condition that the whole amount be raised. With the completion of this the invested funds of the College will be in the vicinity of one million dollars, and the greatly needed gymnasium for men will be secured. These are the two things which President Slocum now has very much at heart ; the erection and equipment of one of the best gymnasiums in the west, and the pushing of the endowment funds of Colorado College up to one million dollars. HARVARD UNIVERSITY TO EXCHANGE PROFESSORS WITH COLORADO COLLEGE (The Official Announcement.) Harvard University has arranged an annual exchange of teachers with four of the best known colleges in the country — Colorado College, Colorado Springs, Colo. ; Grinned College, formerly Iowa College, of Grinnell, Iowa ; Knox College, of Galesburg, Illinois ; and Beloit College, of Beloit, Wisconsin.