The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1910-10-15
Exceeds S2o.ooO.ooo.

~SO1S pGGsVSUyUVU.
Few people have an idea of the siz,
Oh the interest bearing state schoo
tund resulting from the sale of schoo
lands. The following extract from
Judge Young's presentation speech Al
the inauguration of President McVey
discusses this fund and its proper adj.
ministration.
/ Under the provisions of our consti-
tuition the land grants and funds de-
rived therefrom are placed in the care
OF the board OF university and school
lands, which is composed of five state
ofhcers. The primary and paramount
duty of these officers is to the Office
| which they specially are chosen to fill
These duties are burdensome, and OF
| necessity practically require their un-
| divided attention. Their services as
members OF the board of university
ana school lands is necessarily of a
secondary character 1t therefore fol-
lows that the management of the school
lands and school funds is largely left
TO subordinates. When the state was
in its infancy and the school funds
were small, this organization was ade-
quate. 1t Is now manifestly made
quate AT this time, the interest bear
ing school funds, including bonds,
mortgages and contracts, amount to
S2O,SsO,747.7S. This is approximately
three times the amount OF the entire
capital or the state banks of this state
and Is SS,O00,000 in excess of the entire
capital stock Of national and state
banks. Manifestly, the management of
TINS great and constantly increasing
fund Is business proposition and
should be dealt with as such. We as
state owe it to the federal govern
ment and to the citizens Of the future
10 administer this trust with the nigh
est ndellty and according to the best
known business methods
desire to submit this question to
the educators of this state and to those
VINO are interested in the cause of edu-
cation: Have We not reached the period
In our states development when the
administration of our school funds
shall be put upon a different basis
where htey will be protected bv the
businss judgment, experience and skin
which are applied to the administra-
ton OF private funds of such magni-
tude?"
AN loeaI PRESIDENT.
. The following extract from Judge
Young's presentation speech at the m
auguration of President McVey sets
forth what the board of trustees of
the University of North Dakota deemed
the necessary qualifications for
president of the university:
About two years ago President
Merrlf1eld,. who had given a full quar-
ter of a century of efficient and Ioyal
service to it's upbuilding, presented his
resignation and firmly insisted upon
its acceptance. The task of finding
and securing successor was not an
easy one, and was entered upon by the
board of trustees with hesitation and
misgiving. The members of the board
were agreed that what was wanted was
a man who was fitted for and could
do the work at hand; in short, a man
who would render the most efficient
service to the university and. as it's
head, to the educational interests of
this state. For this reason we did not
enter the field Of popular ideals in |
search for material. The position re-
quired a scholar. 1t was found that |
there are many men in this country
Of high scholastic attainments, but it |
required more than this. He must be |
an experienced educator. 1t was dis |
covered there were many experienced |
educators whose services were available. |
But above all else the position re-
1uired a man of tried executive ability, |
for executive ability of high order is |
perhaps the most important require |
ment in the successful management of |
q modern university. There are many |
men of good executive ability, but very |
few of them enter the educational field; |
most of them are engaged in lucrative |
pursuits as captains of in |
1ustry. Further, the position required |
4 man of middle age, the major part |
Of whose working years were still be-
fore him, man whose helpmare was
college trained and thus interested in |
his work and in student life; a man |
Of poise and character, and finally, one |
who knew the northwest and knew of |
It's conditions and its people. We were |
told that this was an impossible COM |
and that such a person lived |
only in the ideal. Many months Of
search almost convinced |
is that this was true, but finally we |
turned to our sister, yes, our mother |
state of Minnesota-and |
found, for he was not candidate, our |
IDEAL; scholar, an experienced edu-
Gator and tried executive, your presi- |
dent, Frank L. McVey.
"Dr. McVey, in your service of more |
han a year, you have proved your |
1tness and worth. We have an abid-
ng faith that you will give good ac-