Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-11-28
THE MEMPHIS MUTUAL AID SOCIETY
Have RESERVE FUND IN BANK Of nearly $4,000.
THE SLATER FUND.
A Million Dollars 10 Educate
Southern COlOred>YOuGh.


Baltimore Sun,
On the 4th of March. 1882. Mr.
John 4. Slater. of Norwich, Conn.
gave million Of dollars for the up
lifting OF the lately emaneipated pop.
nlation Of the Southern States and
their posterity by conferring on them
the blessings of Christian education.
The founder leaves the mode of in
vestment and disbursement entirely TO
trustees designated by himself, specify
Ing only that no part Of the principal
or income should be expended
In land or buildings, except as
safe and productive investment.
de also guards the trustees against
any pretended claim on the part Of any
person, party, sect, institution or To-
cality to beueisctions from the fund
on any ground whatever that may be
put forWard-wishing every expendi.
ture to be determined solely by the
convictions Of the Trustees. Being
warned by the history of such endow-
ments, also, "that they sometimes tend
TO discourage rather than promote
effort and self-reliauce on the part of
benehclaries, or to inure to the ad-
vancemont of learning instead Of the
dissemination of it, or to become A
convenience to the rich instead Of a
help to those Whoneed help, Mr..
Slater charges his Trustees to use
their best wisdom in preventing any
such defeat Of the spirit of this trust,
50 that his gift may con.
tlnue 10 future generations to
be blessing to the poor. If, after
the lapse Of thirty three years and
three fonrths of the trustees concur.
ring, there shall be no further serious
need for this fund in the form it is
instituted, by reason Of "a change in
social conditions or OF adequate
and equitable public provision for
education" the trustees shall apply
the fund to the establishment of foun
dations subsidiary to already existing
institutions for higher education. In
conclusion, Mr.. Salter says be was en-
couraged to the execution OF this long
cherished purpose by the eminent wis
dom and success that has marked the
conduct Of the Peabody educational
fund in the field of operation not re-
mote from that contemplated BY this
trust. The trustees Of the fund, now
duly incorporated, are Hon. Ruther-
ford B. Hayes. Of Ohio, Presidenti
Chief Justice Morrison r, Waite.
Vice Presidents Daniel c. Gilman, Of
John Hopkins University, Baltimore.
Secretary; Morris K. Jessup, Of New
York, Treasurer; John A. Stewart,
New York; VIM. r. Dodge, New
York; Alfred Fl. Colquitt, Georgia,
Rev. James p. Boyoe, Kentucky
Rev. Phillips Brooks, Massachusetts;
VIM. A. Slater, Connecticut. The
agent Of the corporation is Rev. A. G.
Haygood, President OF the Emory
College, Georgia.
Mr.. Slater attended the two meet
lngs Of the trustees held in New York
May IS and October 10, 1882, and re
ported that the fund had been paid
over, $3.50, $50 of it in railroad bonds
already invested, and the rest in
money. The plans of the board will
not be formed until the spring of 1883,
as no inceme will be available for
distribution until then. Mr.. Slater
has indicated as lines for operation
adapted to the present condition OF
things, the training Of teachers from
among the people requiring to be
taught, it in the opinion of the corpo
ration, by such limited selection the
purposes Of the trust can be best &C
complished, and the encouragement
Of such institutions as are most ef-
fsctually useful in promoting this
training Of teachers The general
agent and executive committee are
considering suggestions.
l. To give proper assistance to
promising colored youth.
2. To give scholarships. tr
3. That each scholar aided shall
make semi annual report of himself
after leaving the institution at whioh
he received aid.
4. That scholars shall be also
trained to some manual occupation at
the same time with their mental and
moral training. rtI9'
.. That bene6ciaries shall be en-
couraged to return in whole or part
any amounts they may have received
from the fund.
8. For exceptional encouragement
in specific cases.
z. For the encouragement of
schools where no adequate provision
has been made for instructipg eolored
youth.