Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-06-25

more.
THE CLOSE OF THE WAR.
Peace found the University and its re-
sources PROSTATE, as were the private TOR
tunes of most of our citizens. By the re-
pudiation of the war debt and She conse-
quent insolvency of the banks, the entire
endowment of the college was annihila-
ted.
Gov. Swain and the Executive Commit
tee of the Board had always managed the
finances of the University with great
omy, The salaries of the Professors were
never liberal-if we except that of the
Bursar, whose fees must have doubled his
income, and whenever they were raised it
was done most cautiously at the rate of
''Gfty dollars more" A beggarly proceed
ing enough. Among the Faculty, there
was always disposition to keep clear of
any perquistes of office, SO that nothing
of the kind should ever be charged upon
them When DR.. Phillips two sons were
ready to enter college, it was settled as
precedent that the sons of the Faculty
should always pay for their tuition, nor be
admitted on any terms that looked like
'favor." The consequence of this strict
attention to details was that the earnings
of the college derived from it's tuition
fees, enabled its authorities to make such
additions to the college buildings, library,
apparatus, &C., &C., and such permanent
improvements in the grounds as amounted
in value to at least one hundred thousand
dollars.
Besides this the University was giring
to the State every year the education Of
ten young men, its Benefciaries. The
two Literary Societies each betrayed the
expenses of two more. SO that even now
in her greatest humiliation and prostratlon
the University of North Carolina does not
stand before the State in the attitude of
spendthrift and squanderer of public
money, but may point proudly to her re-
cord. She has earned through her hard
working, steady Faculty, end she has gra-
tuitously bestowed upon the State All
amount equal to tie whole endowment
sunk in the banks All this is yet acaila-
lie. IL Is mol lost. The tears rush into my
eyes us I write these words. This great
sum earned by the University, invested in
her magnificent Halls and in the gratuit-
Gus education of her sons is get aoaiLoJle.
Here are the Buildings, and here are the
men.
HER BENEFICIARIEs.
| do not know of any man who ever
graduated at Chapel Hill receiving his ed
ucation as free gift from the University
is ashamed of the fact. [ do not know
why any one should be. But for fear there
may be some possessed by such false feel
ing, L will mention no name, but simply
content myself with saying that the Uni
versity has no need to be ashamed of them
as body. Many of them have gone out
to do honor to her name and to illustrate
in every walk Of life the excellence of her
training
A great man said once on the subject of
giving, " 1 have great faith in the power
of Titles.
The money invested in the education OF
the Beneficiaries Of the University may
now be paid back with compound interest
if these gentlemen, wherever found with
means in their hands will come forward in
solid phalanx and say, Here, these and
such things ] owe 20 the University my
education, my profession, my station in
life, ali that | have ever been able to do for
the good of others, all that have ever en-
and Goodness-my whole career in life, for
tune, friends, OF fame-I lay it all to the
belefcence that held hand out to me in
early life--I come now to pay the debt
back, and pay it gladly. [ give so much,
and SO much, and SO much towards endow
ing Professorship, III the name of one of
those venerable men who instructed NE
or towards founding a scholarship in my
own name that shali widen the University's
means of doing good henceforth and shall
carry my name witt honor down to COM
ing years.
What noble spectacle to the whole
world would this be. If the BENEFICIARIEs
of the University of North Carolina be the
first to come to the rescue, what fresh i'm
pulse to the great Truth that of the three
things that abide and are available when
all else is lost, CHARITY is the greatest.