Page:A History of the University of Chicago by Thomas Wakefield Goodspeed.djvu/212

1 82 A HISTORY OF THE UNIVERSITY OF CHICAGO instruction a total additional sum of ninety-one thousand, six hundred and sixty-six dollars. The letter of gift was as follows: NEW YORK February 23, 1892 To the Trustees of the University of Chicago, Thomas W. Goodspeed, Secretary: GENTLEMEN: I will give to the University of Chicago one thousand five per cent bonds of the par value of one million dollars, principal and interest payable in gold. The principal of the fund is to remain forever a further endowment for the University, the income to be used only for the current expenses and not for lands, buildings, or repairs. I reserve the right to desig- nate, at my option, the expenses to which the income shall be applied. I will deliver these bonds March i, 1892, bearing accrued interest from December i, 1891. I make this gift as a special thank offering to Almighty God for returning health. Sincerely yours, JOHN D. ROCKEFELLER In a letter of designation it was provided that seventy thousand, five hundred dollars of the income be reserved for salaries of officers and instructors, ten thousand dollars for fellowships, five thousand dollars for books and apparatus, and the balance for incidentals. The following provision was added: Should the funds here reserved for any of the above items be provided by others, the designation above in such case or cases is waived by me, and the fund so released may be employed for other current expenses of the institution at the discretion of the Board. It will be seen that this great donation marked another long step in expansion, making possible the addition of many instructors who could not have been appointed without it, and greatly enlarging the scope of the work actually undertaken. Mr. Gates wrote: When the decision was finally arrived at, it was hearty, cheerful, not to say glad. Mr. Goodspeed responded: The feeling in the city seems to be one of universal gratification. Mr. Field said the other morning, after expressing his satisfaction with the gift and his admiration for Mr. Rockefeller, "Now Chicago must put a million dollars into the buildings of the University." A gentleman who heard him