Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-07-04
FOR HIGHER EDUCATION.
John D. Rockefeller Makes a Gift OF
Ten Million Dollars.

John D. Rockefeller Makes Gift OF
Ten Million Dollars.
Ten million dollars as an endow-
ment for higher education in the Unit
ed States has been given the General
Education Board. by John d. Rookie
feller. The announcement was made
by DR.. Wallace Buttrick, Of the board
at a meeting in New York last Friday.
The following letter to the secretaries
and executive officers Of the board
from F. T. Gates, Mr.. Rockefeller's rep
resentative, was given out:
'I am authorized by Mr.. John d.
Rockefeller to say that he will con-
tribute to the General Education Board
the sum of ten million dollars (s10,000,-
O00D to be paid October 1st, next. In
cash, or, at his option, in income-pro-
ducing securities at their market value;
the principal to be held in perpetuity
as a foundation for education; the In
come, above expenses and administra-
ton, to be distributed to or used for
the benefit of such institutions OF
learning, at such times. In SUCH
amounts, for such purposes and under
such conditions, or employed In such
other ways. as the board may deem
best adapted to promote a comprehen-
sive system of higher education In the
United States"
With the letter the following state
ment was given out:
John d. Rockefeller, Jr., with other
gentlemen of this city. was instrument
tai In forming the General Education
Board of February, 1902. A very broad
and admirable charter was secured
from congress and signed by President
Roosevelt on January IL, 1908.
"A gift of one million dollars from
Mr.. John D. Rockefeller was immedla-
ately passed over to the board, espe-
clally designated for educational work
in the south. Other funds have been
added by other philanthropists since
that time and the board has confined
its work hitherto mainly to education
al work in the southern states.
1.-THE present gift differs from Mr..
Rockefeller's first gift to the board
In the following particulars:
1.-The principal sum of the gift or one
million dollars made on the organiza-
ton of the board could be distributed.
The present gift Of ten million dollars
is held as endowment, the income only
being available for distribution.
1.-The first gift was designed to be
used exclusively in the southern states
The present gift Is for use not only In
the southern states, but throughout the
United States, without distinction OF
section.
1.-The first gift could be used for
common schools and secondary educa-
ton. The second gift is confined to
higher education and Is designed
specially for colleges as distinguished
from the great universities, although
there Is no prohibition In the letter
of gift against making contributions
to universities.
Both gifts are alike available for
denominational schools as well as for
those which are non- -sectarian. While
the funds may be employed for de-
nominational schools, they will be en-
ployed without sectarian distinctions.
No special denomination will be par
ticularly favored, but the funds will
be open to approved schools of all de-
nominations, although they cannot be
employed for giving specifically theo-
logical instruction.
IN distributing the funds, the board
will aim especially to favor those In
stitutions which are well located and
which have a local constituency suf-
ficiently strong and able to Insure
permanent power No attempt Will be
made to resuscitate moribund schools
or to assist institutions which are so
located that they cannot promise to be
permanently useful.
within these limits, there are no
restrictions as to the use Of the In
come. 1t may be used for endowment,
for building, for current expenses, for
debts, for apparatus, or for any other
purpose which may be found most
serviceable. If the fund proves to be
as useful as is now anticipated, MT
Rockefeller will undoubtedly make
large additions to II in future years.