MISUTES OF IRE BOARD OF TRUSEjE     -    May 31, 1910



in an effort to make income balance expenditures for the year 1910-11.  There

are certain fixed charges which can neither be eliminated nor materially cut down.

There are others more elastic, for example, appropriations for current expenditures

in the various departments of instruction which may be reduced for the next two

years, but in this reduction care must be taken not to impair efficiency, either

in instruction or administration.  One thing, however, is certain, that with a

deficit for the present year and an embarrassed exchequer for the next, increase

in the existing staff of instruction or administration is, on any same hypothesis,

clearly out of the question. To attempt a re-organization of the existing staff

of administration, which would involve additional units or increased expenditure

would be nothing short of an inexcusable folly.   To project the creation of a staff

of administration on the scale of the Universities of Ohio, Wisconsin, Illinois, Cal-

ifornia or Cornell, the income of each of which is seven or eight fold that of ours

and the matriculation in the same proportion, would be preposterous. No prudent

farmer would think of employing as many hands to cultivate a ten-acre plot as he

would to cultivate a farm of one hundred acres.   Nor would a manufacturer think of

employing as many operatives in a factory of small dimensions as in one the capacity

of which is ten times as great. In a bank with a small capital and a smell business,

one man may be teller, bookkeeper, cashier and president, but let the business in-

crease tenfold or a hundred fold and the principle of the division of labor becomes

applicable and may be employed with economy and advantage.   Nor would a mine

operator give employment to 500 miners, if a hundred be equal to the requirements

of the mine.   We all agree that economy must be practiced, but each one wishes an

exception made in his case, an extra employee, an extra appropriation, extra equip-

ment, and the exception once made multiplies automatically.   Economy evaporates

in words and at the end of the year wie are as badly off as before retrenchment and

enonomy were discussed or attempted.  We must get down to business principles and

adhere to them, if our corporation is to succeed.   Sentiment  and finding jobs for

persons, however deserving, find no place in a business enterprise, and I beg to