New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-04-19


The Council may be assured this epOst Of the debt ct
sszoo is not too large far from correct Current
expenses and the usages OF suticpstions may urnlsh
some items 10 be added
Inc return states Salaries 10 Professors &cpSll O66 50
Will give some light to explain the items
Of this sum.
To the Chancellor ACKNOWLEDGEMENTS. 5000 90
Professor OF Religion ...-..... 900 90
Professors, salaries $1,000 each m 5000 90
Additional sum OF s433 10 each Professor
under the " extra allowance for each pay.
Ing student taught. .................... 2i6J 90
Total ........................,.. 1865 %
II this explanation Of the ell O65 paid for saariesi
substantially correct II shows that the extra allowance
TO the Professors over their salary OF 900 10 each
included IN the above of 066 while also shows
that no allowance s included beyond the 5000 TO the
Chancellor. have looked the returns with
and diligence and do not find therein any statement
intimation OF any allowance 10 the Chancellor beyond
the 5000, rs above stated. The Return therefore
presents to the Regents and 10 the LEGISLATURE that the
Chancellor serves the University for s. 900 this deem
incorrect, and 10 this objected The Chancellor
tainly receives by rirue Of his Office Of Chancellor in ad
diuon to the 5000 stated in the return dwelling house
which. with the exemption from taxes had before been
held and was rented At 81 coo; and also other allowances
10 him. and from which he received last year between
seven and eight hundred dollars The amount Of his re-
cepts as Chancellor last year four thousand
or eight hundred dollars about the the year be-
fore and the present year from the great increase the
medical students, the sum viii come up 10 5000 or
thereabout
During the last year they have graduated l2 students
and for which they have paid TO the University gradus
ton fee of $40 each-S2420"
This Reports annexed and forms part OF the return
the Regents The states that the University
has received the last year from the Medical School 5l5
The Report correct The return should have stated
that in addition TO the dwelling house the Chancellor had
retained one quarter of the $3.50 allowance TO
him by the Council, and thus the discrepancy
standing before the Regents would have been explained
have before objected in Council to the amount Of
IN fhq aifad fh4
bsrrassed condition of the finances OF the University
and as liable 10 lose the favor of the Legislature and
hazard the continuance OF he bounty OF 5000 per an
mum from the State. The amount Is dsproportioned TO
the salaries allowed by the State to its officers and I'M
just in comparison with the sums allowed to the Proes
sors and whose compensation Is brought 10 the lowest
point OF reduction The current receipts by the Chan
ceOr, from the allowances made 10 him. appear 70 be
greater the last year the present year. than the whole
tuition received by the University In the same period
The return states the amount of interest paid the
last year as 5eO-and thus proves correct the debt
as stated, at $4,000.
On inquiry into the condition OF public iastitu-
ton the amount OF its liabilities for interest Is deemed
essential part of its exhibit The account Of the
Treasurer shows 264 80 paid last year for inter
est" beyond the $3.50 paid on the debt Of $4,000.
These two sums being added make s64i4 paid as inter
est the last year and calls for debt of S93OOO-the in
erest on the $500 being Bt per cent Other modes
of calculation show certain debt Of nearly the
The return ought TO have stated the interest &C
count correctly and II would thus have shown instead
$4,000 The difference Of interest is put into the &C
count of e1pens and thus does not show correctly to
the Council the Regents the true condition OF the
finances of the University.
The return states the number of students for the year
to July 1915, TO be 49, says 81 free scholar
ship leaving 10 unexplained 20 paying students tut
ton at $50 is s. 800 The sum returned as received
from tuition and students S6Ols 81
Deduct l3l students paid $40 each for " Libra.
ry, &c" OBSERVATION-DISCLOSURES l5lO W
Balance. OBSERVATION-DISCLOSURES. -.s4,70e 81
Total amount received for tuition" s470s 81.
1t apparent that this amount of tuition Is short of the
called for from 50 paying students instead of 10
Return le43-Students, ISL; free 10 planned 81,
tuition received only equal to 90 paying.
Return le44-Students, l43 free &C. unexplained II,
tuition received only equal to 81 paying.
Return ls45-sludents 1871 free6l, unexplained 10
tuition received only equal to SO paying.
the progress OF the University 10 thus presented 10
view
In connection with this Exhibit OF the condition and
the earnings of the University, may II not be well for
this Council to dwell the muHtfeeRes of the State
in giving the University the sum OF $1,000 year
and its Medical Department the farther OF $1,000
year-S2420 of which this lss year paid over to
the University under its claim for graduation fees
and nearly the whole $4,000 will probably be paid
this present year Thus, In the receipts of between
eight and nine thousand dollars year from the bounty
of the State and other than its own earnings the Uni
versy so circumstanced TO be falling back in in
come increasing It's current expenses and augmentng
its debts at least from 10 two thousand dollars
year. II is sinking in the number OF Its students In
its paying students, and IN the yearly amount o. us 'u
itiOn.
All these facts are evident deductions from the Re
and the Reports OF the Treasurer That oincer
consoles the Council for the large amount expended for
repairs the last year by saying the building Is now In
good repair except part OF the root, &c ms is
hope against fact, and in the face OF former returns and
former estimates The insurance and repairs from
1871 10 1915 both inclusive is shown by the returns to
be 1854 the average amount Is Sl,473 per annum
during the FIVE years past We have no cause to expect
be less the ensuing five years The Treasurer says
q he ia
repairs"
Should any casualty TO the University from any
cause and especially In the lessenng OF the tuition the
receipt of the remaining three parts Of the graduation
fee from the Medical Department or in the continuance
OF the donations from the State or by the diversion Of
part TO aid other infant institutions and whch
was prevented years ago by the exetons in the Lee
sislature OF our friend, Mr.. McMurray, what friend
would realize that the vitality OF the University was
in peril
University TO be sinking and why objected and en-
tered my dissent against the return to the Regents
with its omissions aud exhibit Of the financial condition OF
the University All remarks on parts OF the return
other than the finances have been Intentionally omitted
on this occasion.
On the occasion Of the inauguration of the present
Chancellor the language then used by the authority OF
the Council to crowded assemblsge OF its founders and
friends was a declaration that the Council appreciated
the great lbersy in the patronage bestowed upon the
University and in return they would pledSs their de-
voted attention and wachtu care over lis concerns 10
bring It's expenses within its resources by the most
rigid economy in its affairs and to parents and the PHo
Tic the Council declared that the teachers employed
should only be learned able and talented but that
spirit engrossing time and feeling to advance the great
cause OF literature and science should pervade and control
every department of the concerns OF the University
Should this Council with united and vigorous action
undertake to restore the University to healthy conduon
prefer to 90 as far the ahest in any care and labor
In making such an effort In any event. when the CUES
ton shall be asked why the University with Gil the pub
lie and private munihcence has received does not pros
per and become distinguished as the great fountain 0i
iteyatuys and science the records Of this Council will
show have performed my duty, and aosolve me from
the responsibility of an answer so grieyoIs
All which is respectfully submitted:
Delivered 10 the Council March 10. 1876.
(signedl JAMES TALLMADGE. President &c
INDIAN NEws.-W yesterday received num-
Der OF Texas papers among them the Austin Democrat
of the cath ut In which we find the latest news II
more pacific than were led to expect and Is as fo