The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1905-09-13
a COLLEGE AS AN ASSET.


A COLLEGE AS AN ASSET.
sH1,e Purely Commercial Value Of a
College to a Comnaunity-Site for
the Presbyterian College.
number of communities in the
state are now considering questions
xnch as these: What shall we do to
secure the location among US Of the
Presbyterian College Of South Carroll
mag How far can we wisely go IN
uniting our means into a site and
naant for such an institution? How
are we going to get our money back?
These are fair questions. They are
important questions-important for
the community, and equally so for
fhe college. The community has no
money to .tput into a. hole" as we
say. And, as Tar the college, in pro-
portion as the people Of a community
recognize its real value-even from
The commercial view point-just in
that proportion will they be willing to
give Hberally to put it upon an ef-
fective footing; for. they will perceive
that It's diyidend.earning power, II
may use such an expression, will de-
pend largely upon the adequacy Of its
material equipment, its plant, as we
caM it. Let me, then, ask the people
OF those communities now wrestling
with the problem Of getting into
shape a proposition for the location
OF our college to consider the value
of a college merely as commercial
asset, =
1t is worth remarking, first of ALL
chat there win be more danger OF url-.
derrating than OF overrating the mon-
u value of college to community
Most people think Of a college, as
lznything but money earning insti-
zntion. It never declares a dividend.
Whatever comes in is consumed
either in current expenses or in i'm
proying the plant. Where then, is
4nere any money in it'' for COM
s.aunity? Let us say frankly and at
Dnce that, for those living outside the
csmmunity in which the institution is
situated there is money in it." If such
persons are not broad-minded enough
ao see that there are other and more
valuable returns than money divi-
dends to be had from a right invest
zuaent of their means, then it will be
Idle to expect them to give to the col
aeee. But it is wholly different in the
ease of those who themselves reside
IN the city or town having college.
HSaey get a fair money return, direct
pr indirect, not only upon what they
themselves put into the institution,
eAut upon all the money that the peo-
mSe outside Of the community give out
pe hand to- it.
Another general remark is worth
naking. It is this: Let any one ask
3he people Of Spartanburg whether
vr not wofford college has proved
4saauable investment for that wide
Ewalke city; or the people Of Green
rlaae as to whether Furman Univer-
aasy is a. negligible quantity in Its
commercial life; or the people Of Due
West a similar question regarding the
Lutheran college or Erkskine and see
1E1sat the answer will be. Indeed, one
Asss only to visit these prosperous
xsAaces as the writer has done, to be
cenvinced by his own eyes and ears
,%haa a good college is highly valua-
Rae commercial asset to any commu-
.nsty.
But let us be specific. I shall note
97rst of all some Of what may be call
ed the indirect money returns made
by a college to the city or town in
which it is located.
It's presence tends to draw to the
esmmunity peculiarly valuable
class of jresidents-namely, persons
of Intelligence and means. These
yeopse must either buy and build, or
rent. In either case their presence
tends to appreciate the value OF prop
erty, especially in the immediate VI
scinity of the college. Further, these
new comers must live. This means
.,.at they must go into business in the
community. It means also that they
-ruus spend money for the support of
.sfhefr families. One has only to visit