New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-03-07
New-NaTk Iriver-ity.

cation Of Observer that require notice The
issue - distinctly rendered 70 him and other enc
mics of the University be las not met. End cannot
meet. he repeats. however, some Of his former
ialsehoods, among which, the most prominent i
that old statement respecting the deb.. He stiii
maintains that It IS over 100000, and seeks %
support the statement by an explanation which
puts i beyond al doubt e . whom thi, fiscal
idea really belongs The Council report 80. l02.
blt it would sppesr that they have ma'iciogsly
and ieoniousiy omitted TO mention, as part OF this
debt, the s1m secured as the Foundation OF one Of
the proiesso-ships. And Ills is the screen which
the writer would interpose between himself and
tie Just charge 0f dstorting the truth Il IS not
pretended that IN the security given Tor the foundation
Of this proiessorshp there any absolute obligation 10
2sy money either IS principal interest In their AZ
nusl reports therefore the Council. Ike truly "prsc-
,lcsi men choose to cal this thing by iis right name
Ire srnoun; paid 3 saary for services rendered
and not intro.f for money borrowed The professor.
ship is important one. embraced IN tina, grea,
scheme shout which the writer has 50 mach to cay
and only differs from the oihers 10 the feet tia, some
who have contributed % the iuEfs q the University.
have done on the condition Of there being such de
partmeni and Of security being given for u, contnu
ance. Tne real debt il that OF which Interest Is paid
or 10 be paid-ve mcsn bona hte interest, going
ally the pockets Of those who advance the money
VIII Observer bruss up his political economy snd
civil er cheering and see II he furnish better
dehniiioni
The Council are certainly under an obligation to
maintain Profesorship Of Msihe mates as long the
University sit,-whether there . any forms. writing
to that effect not. Why. then, according to this pro
found f.caliiy should the sslsry paid TO that Pro
lessor be also sty I'D interest, an the which would
constitute It's principal be recEouod in the general debt
along with money borrowed from Banks and Insurance
Companies We would simply suggest this hscsl iies
20 Observer. 10 certainly would furnish h.m with
method Of swelling his statistics wonderfully. Only
carry Il out In oil the lr0iessOrstips. aud u would
make the University debt over 500 00O There are
many strange things In tks science OF political econO
my but certainly nothing more strange than this. The
consequences must certainly 30 most appalling 20 All
institutions that have ever been In The receipt Of public
contributions According to this most astute discovery
every generous effort 10 aid them, can only sink thcm
per and per In ruin and embarrassment Let
suppose the alarming case, that some liberal but mis-
taken phauthropists should psy OF all the present
bonds and mortgages Of the University and 10 consid
Grafton therefor should require some guaranty that the
PrOess0rships should all be maintained IN their nteg
ri,y-or should moreover contribute funds for the Is
Enlistment Of others, on Ike moral or honorary, or
legal security. Now according 10 this ssga patron OF
" puiical economy ana civil cnslDeerlosf Whdt would
such proceeding involve but the most dlriul calamity
that could bofa the nsiltuton-rcduc.ug At once 10
a condition O utter and hopeless bankruptcy. O5ser-
yer" that admit the truth OF mucn that he
respecting the enbarrassed condition Uni
ycTsy. This may be But has he yet 20 learn that
while sheer islsehoods seldom DO much harm, there
are no lies atlCcious rs those which are msnuiac.
tlred out Of truths placed in false light and false pc
sition
Two or three years ago newspaper writer who then
wished 70 figure AS one Of the founders of the Free
has sHfIu ur kqf
auspices 1T present 10 the public dispsrsgng
etumste Of students annual coat Al the Jniycrsi-
ty Ia doing co. he did not at al think II worth bis
while TO take the ground OF bis computation, the
sum, actually pa.d-the amount OF which ms ht have
been most easily ascertaned, AMI would have btcu
found 10 De- IN very great proportion OF caseslust
nothing al all But instead Of this, he very honestly
and gAiuiously assumed principal con which q cast
the Interest," all the money that bad been employed aud
wasted during the presidency Of Gen James Ialmsdge.
This he made the bs-is In bis per- capd estimate of the
expense which poor yOuDg man must NECESSARILY in
cur la order 20 obtain The benefits OF such an arstO
cratic lntiiution. We aliuie to this here, simply be-
cause the political economy OF the writer who lgwd
on that occasion. bears such striking resemblance o
that displayed in the present attack Tue coincidence
OF " iscal deas 10 somewhat remarkable, ald almost
forces upon the Inference that more than one ex-
President has been concerned Ia this Astonishing display
of financial sagacy.
The writer brings up again the affair Of the missing
$4,000. II refutatiOn enough when We shOses
that he had omitted the application Of s. 600 10 one
other and that he bad tight before bis eyes the true ex
PLANTATION Of the matter OF which he Affects 10 make
mystery lie well knew that this sum went 10 the
Grammar School, and his erihOught, OF disputng
the propriety OF such application have eject IN
diminishing the ialsehOod OF such statement or The
turpiude OF such attempt to convey The impression
that this had into the pockets OF the Chancel
Tor and Proiesors without any account there
for The rest OF that difference, repeat H. went -
the Janlior $500 per year and unavoidable incidental
expenses
says he has before him. We sppea 20 the Treuurers
books We sffrm that they truly exhibit the amounts
paid for salaries precisely as the Council have report
ed. They also show Az exact account OF money paid
for al other expenses from the annual interest a the
debt down % the price OF coal seattle, and agreeing
with the account for moneys received from every
source Of annual income. We not under what o.
Visions SC tue the writer chooses 70 arrange Us
Items The public must Judge Of tae accuracy oi our
respective statements, ami VI our means OF iniorma
ton. We challenge, IN kis matter, any method oi pub
lie or private inspection.
The writer persists In the poor Ariifce Of shifting TO
one account What may fairly DC regarded as belonging
% another. But why does be not come boldly up 10
the marx lie means nothing, or be means ~ charge
Chancellor frelnghuyten and the Faculty, together
" IA the well known Gentlemen who compose the RI
nance Committee, with dishonest applications OF mo
ney or with making dishonest statements IN relation 10
IL Does he believe ether charge 70 be iruei II so
let him come forth from his anonymous retreat, and
boldly make his accus ition over his own nsine
There are few other matter 10 which We VII alnde
in The oreiest terms. The writer AYERS That the con
,ribuion Of as 600 WAS made before Mr. Frelnghuy
ser became Chancellor. This is wholly disingenuOus'
10 use no harsher term. The amount may have been
mainy subscribed before the formal Inauguration bit
no one knows better than the principal author Of THIS al
tack now utterly unt0uDded this statement IT, viewed
Ia respect 10 the time when Committee Of the Coun
eli Gncludng Gen Talmsige) agreed with the present.
Chancellor as to the terms which he would accept
the eadship OF the Institution. No one knows better
than be- ths, the raising OF that amount was made 40
express stipulation al the time Of such acceptance by
Mr Freing huysen. sRd that i was commenced and sue
cessiuly carried through BY the influence Of that gen
teuen and his friends.
Again ssys Observed" Another obstscle in the way
of raising subscTp Ons is the repeated Gsspponimeris
the public have suffered after giving the required aid
on former occasions. When the $1,000 si-ed IN
$50 the Council stated that II that cum could 0e OBJ
tanned the institution would 20 without emba-rass
ment" Who. We SIX. made that statement WA Il
the then President Of the Council IL Is very likely
considering the very practical views be used - enter
tain respecting Universities But what right had D. 70
make such a statement The payment 0f that cOutE
button sill lcil over $4,000 due thai splendid DEBT
with viii, &c and others o. The cary patrons lad
.sdo ed the University Did be regard as probable or
even possible TIA; young institution OF thls Kind With
formidable pettors ali around L. should be able 70
usy OF such enormous incursorance from 10 glIcn
ees-even hsd they increased IN ratio ten fold greater
L. 80. .. FHrHF..