Johns Hopkins University - Hullabaloo Yearbook (Baltimore, MD)

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the past ten years and the prosperity that is to follow. How shall we meet the emergency of the next five years? A prudent management of our affairs during the last few years has enabled the Tmusteesto pay alltheir current expenses,to build three line laboratories, to collect a great library and a large amount of apparatus, and to buy a great deal of real estate for the buildings that are wanted, and at the same time to lay by a consid- erable amount of accumulated income. This store they are now spending. It is not, like the widow's cruse, inexhaustible, but if the sum of gIO0,000 can be added to it, and if our receipts from tuition remain undiminished, the University will go forward, during the next three years, without contraction, without borrowing, and without begging. I am happy to say that, although the Trustees have not felt willing to make an appeal to the public, and although no authodzed suuenunus on dns muject have been pubhshed,a nunnber of the chizens of Baldrnore have of their ouui accord ex- pressed the desire to raise this amount and have pledged themselves for generous sums. It would be difficult for me to express the en- couragement I have received as one and another of these helpful hiends have intnnated then readiness un contdlnne liberaHy to- ward the desired amount. More than half of the proposed fund has already been definitely pledged. One subscription has come from New York, another from Liverpool, but almost all, as we might expect, have come from those who are most intimately ac- quainted with the working of the University, our own neighbors and friends, who know the difhculties under which we labor, the methods which we follow, and the hopes by which we are inspired. Since the above statements were made, additional subscriptions have been received, making the success of this movement almost certain. -i2.1-':s..f-sid - -2.-fr:-5 - Tf??e:l5:'f ei - i Ame 2595? 'ISI E' 13

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support of a great endowment. Consequently, the laboratories have been freely opened to men engaged in scientilic research, books and periodicals have been freely purchased and liberally lent, the pages of the periodicals printed here have been opened to writers in any place. Liberal aid has been given to important inquiries, sometimes instituted by the National Government fas in electricity and magnetismjg or by municipal request Qrespecting, for example, the purity of drinking water and the protection of the public healthy, or by the State of Maryland Qas in respect to the principles of taxation and the protection of oyster Hsheriesjg or from purely scientific impulses fas in the production of spectrum gratings and the study of lightl. Aid has been given to the publica- tion of learned works, valuable but not remunerative, like the 'fDz'fz'rzrhe, the Syrian Antilegomenaf' the Lectures of Sir William Thomson, Contributions to Logic, etc. These are but examples of a series of cooperative undertakings, from which the historical, economical, and educational papers must on no account be omitted. To all requests for such cooperation the university has responded without reference to pecuniary returns. Respecting the finances of the university, which have been the subject of many remarks during the last few months, the following statements were publicly made, at the exercises of Commemoration Day, February 22, 1889 :-H It is true that we have lost for a time our income from the Baltimore and Ohio Railroad, the securities to which the sagacious founder 'of the University entrusted his endow- ment with so much confidence that he recommended his Trustees not to dispose of the stock, but to keep it as an investment. He was doubtless influenced by the fact that this security was free from the taxation which would fasten itself upon another investment. We believe that this suspension of dividends upon the part of the Baltimore and Ghio Railroad is but temporary, and that the stock is now, and always will be, property of great value. But we have possessions of even greater worth. The johns Hopkins University owns nearly 3oo acres of land, within the present limits of the city, which will soon be laid out in streets and avenues. Fifteen or six- teen miles of street frontage can then be sold or leased. ' The past at least is secure,' but to this familiar utterance we can safely add, ' the future is as secure as the past.' Our cause for anxiety is the present. How shall we make the transit between the prosperity of 12

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