nts an hour. He had a little money left after
paying his tuition, and the college registrar assured him that the loan
from the Board of Education would be forthcoming. Therefore the talk
turned on money.

"That tuition bill sure reduced the swelling in my pocketbook, Marty,"
remarked J.W., as he examined his visible resources.

"What do you think it did to mine?" Marty observed quietly. "I'm still
giddy from being relieved of so much money in one operation. And yet I
can't see how they get along. Look at the big faculty they have, and all
these buildings to keep up and keep going. When I think of how big a
dollar seems to me, the tuition looks like the national debt of Mexico;
but when I try to figure out how much it costs the college per student,
I feel as though I were paying lunch-counter prices for a dining-car
dinner. How _do_ they do it, J.W.?"

"Who told you I was to be looked on in the light of a World Almanac, my
son? I could give you the answer to that question without getting out of
my chair, but for one small difficulty--I just don't know. Tell you
what--it's a good question--let's look in the catalogue. I'd like to
find information in that volume about something besides the four
centuries of study that loom before my freshman eyes."

So they looked in the catalogue and discovered that Cartwright College
had an endowment of $1,750,000, producing an income of about $80,000 a
year, and that the churches of its territory gave about $25,000 more.
They learned also that most of the buildings had been provided by
friends of the college, with the Carnegie Library mainly the gift of the
millionaire ironmaster. They learned also that about $500,000 of the
endowment had been raised in the last two years, under the promise of
the General Education Board, which is a Rockefeller creation, to provide
the last $125,000. The college property was valued at about half a
million dollars.

"And there you are, Martin Luther, my bold reformer," said J.W.,
cheerfully. "The people who put up the money have invested about two and
a half millions on you and me, and the other five hundred students, say
about $250 a year per student. And we pay the rest of what it costs to
give us a college career, $125 to $175 a year, depending on our taste in
courses. I remember I felt as if the John Wesley Farwell family had
almost gone broke when dad signed up for $1,000 on that last endowment
campaign. I thought the money gone forever, but I