The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-03-28
CARNAGE FUND
REPORT IS: OUT
Shows that Approximately
Fourteen Millions Were in
Hands of Commission.

The seventh annual report Of the
president and treasurer OF tho Carne-
gie Foundation. which has Just ap-
pearcd. covers the year ended Sep
tcmbcr 30, 1912.
The endowment in the hands Of the
approximately S1i,000,O 600, and the
income for the year amounted to
$676.3S6, of which $634,i9 was ex-
pended. From its first pension pay
mcnt in June, 1906. to the end of the.
fiscal year September 80, 1912. the
Foundation has distributed $2,011,S14
In retiring allowances to professors
total of s2,316, i0i. In all 429 retir-
. ing allowances and 80 widows pen
sions have been granted, Of which ,9S
nave terminated through death and 90
at the expiration of temporary grants.
leaving 315 retiring allowances and 83
widows pensions in force at the end
of the year.
The report of the president. like
the former reports. Is divided into
two parasitic first referring to tho
current business of the year and deal
Ing with questions more directly per-
tanning to the administration of the
Foundations; the second part being de-
voted to current educational problems
of a larger nj more general nature.
The first part of the report includes
Il careful statement of the whole
government employees, and for indus
trial employees. This statement con-
tains the results of the examination Of
practically all of the. pension systems
now in operation anywhere, and leads
finally to a discussion of a feasible
pension system for the public school
teachers OF a state. This discussion
40 ~ ,ti1,, q, ~1,. ,@o1r,,l ut tlas, tim
since the question of teachers pen
sions is a matter under consideration
by a number of state legislatures. AS
the report points out, the bills which
ave been introduced in the various
legislatures almost without exception
violate fundamental actuarial condi-
tions, and have been framed without
study of the essential conditions which
must be fulfilled by n adequate pen
sion system. The material brought
together in this report, the examples
OF the failures of pensions systems
which have occurred,-as. for exam
pic. that in New South Wales,-and
the prccarious situation in which
MANY state pension systems now stand.
make this portion of the report one
of great practical value to the au-
thorities of any state contemplating
pensions either for teachers or for
state employees.
President Pritchett. in arguing for
some form Of. contributory pension
system for public school teachers,
points out clearly the difficulties of
the contributOry system. tho necessity
for tho most careful actuarial advice,
and the public nature of the questions
which arc involved in a distribution
OF the cost of such a pension system
bctween tho state II the teacher.
Following the discussion Of these
3. pensions. 81 complete history of the
methods by which the Carnegie
Foundation pensions We're arrived at is
given; the process through which the
trustees worked is told in the frankest
manner: the difficulties which they
arose out of he fact that the pensions
!, of the tCarneGie. Foundation are not
contrihutory. but have come as the re-
suit of Il free gift, are made clear.
The literature on pensions now at the
disposal of the Foundation is probably
u most complete in tn" statement of
such problems that has ever bcen
brought together. and the discussion
mere made cannot fail to be of value
to IL college, a state. or an Industrial
association which is studying the pen
sion problem: and the pension prob
lem today is n OF the insistent
problems of modern social progress.
The second part of the report is de-
voted to such subjects as the matter
OF college entrance requirements. adj
mission to advanced standing, a state
ment of medical progress. university
II college financial reporting, advcr-
using as Il factor in education, cduca-
ton and politics. and finally, sham I'M
iverSities.
All of these subjects are discussed
IN the frank n specific mannc
which has hitherto heen used in these
reports. In r%ccounting the cxlraor-
binary medical progress of the last
Y Years attention is called to the
which still exists in the
Lhlteo states between reputable col
lcGes n unworthy medical schools
me lessons of the recent Bulletin on
Medical Education in Europe are also
brought clearly forward. During the