The San Francisco call., 1904-11-21
Official Letter
From Cardinal
Gibbons,
GiVeSGuarantee
Against Loss
Of Funds.

WASHINGTON, Nov. 20.-In accord
ance with an understanding reached at
the recent meeting of the board of
trustees of the Catholic University,
Cardinal Gibbons today gave to the
press the following official letter. ad-
dressed 10 the Catholic clergy:
CARDINALS RESIDENCE, BALTIMORE.
Nd. Nov L. l9o4.-Right Rev. Dear Sir: The
board OF trustees OF the Catholic University Of
America at their meeting April II, 1904, unan-
irnously adopted the following resolution:
Resolved. That his Eminence the Chan
required 10 write and to send TO the hierarchy
of the United States, one month before the
for the interest taken in the collection for the
university in 1893 and asking them to kindly
keep up their generous solicitude for this
worthy object by recommending it to the rev.
erend clergy and the laiety Of their respective
Jurisdictions
I desire to state that the contributions re-
ceived from seventy-six dioceses amounted TO
SlO5,051. This generous response OF our clergy
and people 10 the express wish OF the sovereign
Pontiff is evidence both OF cheerful obedi-
ence TO the Holy See and Of generous devotion
to their past orders It Is gratifying and
encouraging 10 the trustees that so widespread
an interest in the United States should be man
ifested in the welfare of the university which,
embodying the highest form OF Catholic learn
ing, is the most important undertaking OF the
hierarchy in view OF the general good. In
the name OF ths trustees. as in my own. ten
der you, your clergy and your people grateful
acknowledgment tor the share you have taken
in the furthsrance Of this great work.
With the collection and with donations from
various sources. the receipts of the university
amounted 10 $50. SOC. OF this fund Ses, TI3
was employed IN the. payment of debts. 5000
was invested and the remainder was used TO
meet current expenses. AS a result there was
no deficit last year, nor is there at present
any floating debt.
The amount donated by the knights OF Co.
lumbus and not included in the receipts men
toned was $50 GEO. This also was invested
making a total investment of 100000 The
funds were placed for investment in the hands
OF the finance committee appointed last year
1909, and composed of gentlemen who enjoy
the highest reputation for integrity and business
ability. The entire amount, therefore. result
ing from the collection is absolutely free from
the complications and risks to which, you
doubtless have learned through the press the
general endowment OF the university has re-
Gently been exposed.
Regarding the actual situation, 1 deem it my
duty 20 inform you that the funds hitherto
handled by the treasurer OF the university ag-
gregate SSS1, COO The disposal Of these funds
in no way involves the property of the univer-
sity. its lands buildings equipment. The
which. IL is confidently believed Will in any
equitable settlement insure the university
against serious losses.
On the other hand, pending the final adjust
ment Of all claims now in litigation. the uni
versity is in large measure deprived Of the
revenues which have heretofore been available
for its work This is the more regrettable at
the present time, when the university should
be so strengthened and developed as TO attract
our Catholic young and withdraw them
from nOn-CathoIc institutions. With the ut
most economy, as now practiced in every de-
Dartment. the income is not sufficient for the
necessary expenses.
The foregoing statement will naturally sug-
gest variety OF reflections, but what Is
really needed just now is practical sympathy
and generous cooperation. This 1 am happy
TO say. has been shown by the trustees and by
friends OF the university. The amounts which
they have guaranteed. together with the next
annual collection, which it is hoped will
equal II not exceed that Of last year, will en-
able US 70 invest a considerable sum after all
our current expenses are paid. Moreover, a
system OF financial administration has already
been adopted that for the future will render
! cure With the assistance Of the hierarchy in
the manner indicated by the holy father we
| feel confident that the university will be
placed 81 q sound financial basis
In Justice to those who. as individuals or as
/ associations. have sendowed the university we
should that its work is continued Our
/ Catholic people. I sincerely believe, will aid
! literally in supporting institution founded
/ Sood Of the clergy and laity in all our do
cesss- To non-C-atholic fellow citizens
our united efforts in behalf Of the university
under any circumstances will plainly show
that we have at heart the best interests az
/ education and that we are not to be thwarted
/ BY difficulties.
AS I am prepared to do ell in my power II
/ build up the university and determined e
guarantee ii against all loss, even at the sac.
/ rihce Of all possess, feel assured that yoy
and your clergy will aid this sacred cause By
/ an earnest appeal to the generosity Of the peo-
pie under your charge, and by personal sym.
/ pathy for the work to which this collection I.
/ applied.
Tho holy father in his letter on the subiect
/ last year. directed that this annual collector
/ be taken up on the first Sunday of Advent NJ
| on the first convenient Sunday thereafter
/ JAMES CARDINAL, GIRRONS
I Chancellor Of the Catholic University o