Loudon free press. (Loudon, Tenn.) 1852-1855, 1853-12-02
From the Abingdon Democrat.
EMORY AND HENRY COLLEGE,.


The Plan Of Endowment. following
plan for endowihg EMORY and Henry College
was recently adopted by the Board of Trustees,
after it had received the sanction and hearty
approval of the Holston Annual Conference at
its late session in Wythville. You, Mr.. Editor,
will do the Collge favor, and doubt not graft.
fly many of your subscribers, BY giving it an
insertion in your paper. The plan will COM
mend itself to all those who fell an interest in
the education of our young men. 1t offers the
tuition of the College so low, that any young
man of energy can procure it. And it will
be seen, too, that highly competent and eff
cient Board of instruction can, by the plan,
always be sustained:
LIST. One hundred thousand dollars is the
sum proposed to be raised; which, at six per
cent. interest, would yield an annual income to
the College ofsix thousand dollars. This would
be sufficient to sustain a Faculty, adequate as
to ability and numbers, to teach all the students
who might come for instruction. The salaries
of the officers of instruction being provided
for in this way, it is easy to see that no charge
fof tuition need be laid upon the Students
The tuition charge has heretofore paid the Fac
ulty.
I'd. But how shall the one hundred thousand
dollars be raised? By the sale of scholarships.
We propose to substitute scholarships for tut
ton; and to allow students when they enter
College, to present the Treasurer certificates Of
scholarships instead of money. That the in
ducement may be strong to purchasers we offer
tba obO1a bolO tha
ent rates Of tuition. Our charges for tuition
are now, thirty dollars per year, or one hundred
and twenty dollars for four years. But to those
who will buy a scholarship for four years, we
say, they shall have it for forty dollars, or for
one-third of the old prices for tuition. We
offer to deduct twothirds from forme rates,
with those who will give us the one third down,
to aid in the endowment. But some will want
scholarship for a longer time than four years.
We have; therefore, instituted another grade,
viz: scholarship to run ten years; which we
offer at seventY-five dollars. Others, again,
will desire scholarships to run lodger than ten
years. and to meet the wishes of such, we have
established another grade, viz: scholarships of
twenty years. for one hundred and twenty five
dollars. Those rates are so exceedingly low,
that purchases, in great numbers, will be found.
Sd. The pecuniary safety of the College re-
quires that these scholarships be not available
until a sum sufficient to sustain the Faculty
has been collected and invested. Certificates
of scholarships will of course, be eagerly sought
by students coming to the College; and we
doubt if any will appear to enter, without this
sort of paper to paw his tuition with; and we
shall be forced, either to use the capital we are
aiming to raise, to pay the salaries of the Fac
ulty, or, investing it. to leave them unpaid
Neither of which would be proper. Hence,
the plan provides, that the scholarships be not
available until the sum Of eighty thousand dol
lars has been paid and invested.
4th. To offer still stronger inducements to
buyers the certificates are made transferable
by the assignment written upon the back, no.
tice of the same being given to the Treasurer
at the College. Thus, those who have no sons
to educate, but who have money to invest
in stocks of any kind, must perceive that here
is fine chance for speculation; for Just as soon
as all scholarships are sold, their value must
rise in the market. And then add to this the
moral argument, which with great numbers of
good men viii weigh not a little-that by buy
ing scholarships, they are helping to place
upon perma nent foundation a noble and
usefu! literary institution.
9Th. To make a speedy sale of the necessary
number Of scholarships to raise the endowment,
requires an efficient agency. Two thousand
five hundred scholarships at forty dollars,
or one thousand three hundred and thirty-three
and one-third at seventy-fve dollars would, ell
Their of them, produce the one hundred thou
sand dollars. FIVE take an average of three
sums, it would take one thousand FIVE hundred
and forty four and four-niths scholarships to
produce the one hundred thousand dollars
N,,,r 20, l., a. al
agent in the feld-Rev. Timothy Sulins, who
designs operating mainly in the South. And
to enlist the efforts of others, we make this
liberal offer. We will give the ministers, of all
denominations, who will act as agents; five per
cent. of all subscriptions ATTAINED by them;
payable in scholarships or in money, after the
subscriptions are paid; and five per cent. on
all amounts actually collected and paid over to
the Treasurer. A rare opportunity this, for
ministers, not only to increase their usefulness,
but to receive a fair compensation for their SER
vices.
9th. But is there not danger, with so many
scholarships afoat, lest we should be too much
crowded with students? Our numbers would
be increased. And one leading object of the
plan, is to extend the advantages of this Col
lege to greater number of young men. But
the experience of other Colleges, that are opera
ting upon similar plans, is, that from one-fifth,
to one-tenth of all the subscriptions ahoat, are
only in use at the same time. And we may
safely calculate that our experience will be
much the same
18th. The question may be asked, do the
Trustees of the College hold themselves ready
at any time, after it shall be announced by them
that eighty thousand dollars has been collected
and invested to receive the certificates in the
place of tuition? They do; and they stand
pledged to redeem them by the instruction i'm
parted by the Faculty, until in this way they
are all paid for. The time, in which they are
used after they become available is of course at
the option of the owners of the scholarships
0th. In taking subscriptions, those who are
acting as agents, will understand, that the sub
scriptions are not payable, until the Trustees
CT the College have announced that eighty
thousand dollars have been subscribed. Hence
if this sum is not reached; no subscriber is
bound to pay his su )scription. That there may
be, no misunderstanding on this point, l here
with give form, which should be allowed in
all cases of taking notes.
81 bind myself, my heirs, &c, to pay to the
Trustees of Emory and Henry College s.,
payable when said Trustees shall have reported
$4,000 to have been in like manner subscri,
bed, in accordance with a plan now in operation
for the endowment of Emory and Henry Col
'lege The amount to entitle the payor to schol-
'arship for-years in said College. Wit
mess, my hand and seal this--day-I8
SEAL.