and the enthusiasm and
faith of those in charge of the enterprise were responsible for the
too rapid expansion of the first few years of the existence of the
institution which resulted in a constantly growing deficit. A
financial statement for the first eight years up to June 30, 1875,
leaving out of account the value of lands and buildings given by the
Government and of borrowed funds, shows receipts of $645,067.30 and
expenditures of $744,914.56, leaving a deficit of nearly $100,000. At
the annual meeting of the trustees, May 31, 1873, it was decided that
a retrenchment of one half the current expenses would be necessary in
order to avert disaster. To effect this the management had to make
radical readjustment in the faculties and in the salary schedule. To
this end every salaried officer in the University resigned upon the
request of the trustees.

In reestablishing the faculties the basis was one of rigid economy and
the only way by which the situation could be saved; for the
nation-wide financial crisis of 1873 and the lean years that followed
precluded the possibility of any increase in the income. The success
of this measure[225] is indicated by the fact that the immediate
expenses of the University were reduced from $57,160.40 in 1872 to
$9,446.19 in 1877. "This heroic treatment," says former President
Patton, "far too long delayed, saved the institution, but it cost it
much in professors, in students and in prestige." The vessel escaped
shipwreck with loss of many of the crew and passengers and a lot of
her cargo. The professional departments were cut off from any support
from the general funds, and remanded to receipts from tuition fees and
special donations. College professorships were reduced from $2,500 to
$1,200 and a residence worth $300; and the salaries of other officers
were similarly reduced. Incidentals were brought down to the lowest
living figure, and finally, with half the main building and a large
part of the dormitories closed, the point was reached at which the
income covered expenses.[226]

DWIGHT O. W. HOLMES.

FOOTNOTES:

[206] The most easily available information concerning the history of
Howard University is contained in a number of short sketches,
speeches, reports, announcements, and the like, in pamphlet form, and
a well-prepared volume of three hundred pages by Dr. Daniel S. Lamb
giving the history of the Medical Department up to 1900. These