Page:A History of the University of Chicago by Thomas Wakefield Goodspeed.djvu/92

66 A HISTORY OF THE UNIVERSITY OF CHICAGO communication, which he had been instructed to present only in case the Board, of its own motion, took the above action. May 15, 1889 Rev. Fred T. Gales, Corresponding Secretary, American Baptist Education Society: MY DEAR SIR: I will contribute six hundred thousand dollars ($600,000) toward an endowment fund for a college to be established at Chicago, the income only of which may be used for current expenses, but not for land, buildings, or repairs, providing four hundred thousand dollars ($400,000) more is pledged by good and responsible parties, satisfactory to the Board of the American Baptist Education Society and myself, on or before June i, 1890, said four hundred thousand dollars, or as much of it as shall be required, to be used for the purpose of purchasing land and erecting buildings, the remainder of the same to be added to the above six hundred thousand dollars, as endow- ment. I will pay the same to the American Baptist Education Society in five years, beginning within ninety days after completion of the subscription as above and pay 5 per cent each ninety days thereafter until all is paid; providing not less than a proportionate amount is so paid by the other subscribers to the four hundred thousand dollars; otherwise this pledge to be null and void. Yours very truly, JNO. D. ROCKEFELLER The annual meeting of the Education Society was held in Boston on May 18. The report of the Board embodying the reso- lutions adopted the day before was submitted and was followed by a masterly address from Mr. Gates on "The Proposed Institu- tion of Learning at Chicago." After setting forth most con- vincingly the educational needs of the Northwest he said: Of many things that must be undertaken, our Board has named the first and most important measure of relief. That measure is now to establish in the City of Chicago a Baptist institution of learning, and before we stay our hand to fix the institution on foundations that shall be solid and enduring. In concluding this memorable plea for the establishment of the proposed institution, Mr. Gates said: Nothing great or worthy can be done for education in the West until this thing is done. I can imagine no single educational work which will at a stroke relieve so many difficulties; restore so many disaffections; reduce to harmony and order so many chaotic elements; meet present needs so wide, so deep, so admonitory, so imperative; lay at our feet a domain so magnificent; place in our hands, to be wielded for our Lord and his Christ, a scepter of intellectual and spiritual supremacy, so far reaching and so mighty in its sway.