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Page 30 text:
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THE GEORGE WASHINGTON UNIVERSITY: A SESQUICENTENNIAL ESSAY When the massive burden of debt reached the limit of the University’s credit, rapid and radical surgery was necessary to save a sinking patient. All but the Medical School property was sold and even a mortgage was placed on that to get the institution out of the red and insure the restoration of the endowment. It was under the impact of that crisis that, excluding the medical department, the University in 1912 transferred all of its activities into a single building at 2023 G Street in the old, decaying First Ward. Slow and patient acquisition of property around that modest nucleus, and the development of a university plan, coupled with the growth of the city, the erection of large federal and private structures in the area, the creation and extension of parks along the river and the central location have placed the University in an area of great value and historic significance located on a multi-million dollar site. By happy circumstances the developing city has placed the University in a unique position, too easily realized to require description here. Fig. 9 — The George Washington University in 1912, located on Eye Street, between Vermont Avenue and 16th Street. All departments except Chemistry, which was in the Medical School were located in these six buildings. EVOLUTION INTO TODAY. Finally, financial ele- ments have been involved in much that has been said about the first two great conditioning elements in the University ’s evolu- tion — the church and the city. But something must be said, perhaps repeated, a- bout finance as a condi- tioning factor. During more that the first century of its existence, the institution never had any money to grow on. It ran constantly into debt, it bailed itself out through herculean efforts only to get in debt again, with more bailing out. The reason why the institution passed out of its Baptist control was financial, not doctrinal. If Baptist money had been available at anytime during the nineteenth century to underwrite the institution the secularization of the University would certainly have been long postponed. The only operation that was ever fully funded in advance was the purchase of College Hill. The construction of its first buildings forced it to incur a heavy debt. It had to float a loan For operating expenses to begin its activities. But the dictates of fate were speaking the voice of poverty when College Hill was sold, and when the H Street property was disposed of. In all of this change, the great continuing force has been a faculty which waited for its salary when it had to, which took partial pay when no more was available, which moved from College Hill to midtown, to Foggy Bottom, which included inspired teachers and which today participates in the good fortune which time has brought. The institution has always been in transition, and is today. Its long history of a century and a half has demonstrated its ability to adjust to meet today, and to remember yesterday as it girds itself for tomorrow. — Dean Elmer Louis Kayser University Historian
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Page 29 text:
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THE GEORGE WASHINGTON UNIVERSITY : A SESQUICENTENNLAL ESSAY Fig. 8 — The Law School of the Columbian University, where classes were held from 1865 to 1884.
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