Open main menu

Page:Popular Science Monthly Volume 57.djvu/294

This page has been validated.

courses similar to those in the Institute. In 1898 the total income of that university was $583,000, of which about $121,000, or only 20 per cent, was received from tuition fees. Its invested funds amounted to $6,446,818.

The State has generously given aid to the Institute in some of its most trying times; as in 1888, when it gave $200,000, one half unconditionally and the other half for the support of free scholarships; and again in 1895, when it granted unconditionally $25,000 a year for six years and $2,000 a year additional for scholarships. Although the school has a very inadequate endowment, yet the future looks bright. It is significant of the general appreciation of its work that men and women who have not received a technical education have devoted a large part of their fortunes to providing such education for others. Among the recent benefactors of the Institute we may name Henry L. Pierce, John W. Randall, Mrs. Julia B. Huntington James and Edward Austin, who, within less than three years have bequeathed nearly a million and a half dollars to the school. If the large gifts of recent years are continued, the school will before long be put financially upon a level with its neighbors. May we not hope that as the applications of science to the arts enrich the alumni and friends of the Institute, they may help to make the road easy for their successors by devoting a part of their riches to the advancement of technical education?