MINUTES OF THE BOARD OF TRUSTEES, Jun-5, 1906 Page 77(cont'd)

     A careful estimate of income and expenditures has been
prepared and will be submitted as the budget of 1906-7. The
debt which so long weighed as an incubus upon the College had
been lifted and liquidated as orovided for in the Act of 1904,
appropriating $15,000.00 annually for that purpose and for
the increase of Revenue. But the proceeds of that appropriatim
so far have been absorbed by the payment of the debt and the
fee paid counsel for defending the constitutionality of the  P. 79
Act. I may observe in passing that the action of the Board
in payment of the fee charged by the Counsel in the case sub-
jeoted the college to frequent and bitter criticism by members
in the Legislature in both Houses and contributed to form
public opinion against us in the General Assembly.

    We were accused of wantonly and recklessly sacrificing
money given to us by the State. These sweeping charges were
not confined to that item of expenditure , but extended to
other alledged instances of waste and extravagance in the
general administration our funds. Indeed at one time I appre-
hended that this feeling might extend to an effort to repeal toe
appropriation made by the proceeding General Assembly.

     The idea was freely expressed that we are not careful in
managing the public funds as the State has a right to expect
effective supervision was required.  In the light of this un-
complimentary comment, I can only counsel prudence and caution
and wise economy in the adjustment of means to ends.

    Our necessities in consequence of the parsimony of the last
General Assembly, are great. The existing professional staff
must be strengthened. Many of the departments need additional
assistance. English, Civil Engineering, Chemistry and Physics
require more than the aid provided by teaching Fellowships. All
the departments are clamoring for more money and for more modern
equipment and for current expenditures. Whether when these
indispensable needs are provided for, anything will remain to
furnish additional space for Engineering and other courses of
instruction is questionable. If there be any available surplus,
I am ready to recommend that it be so applied.

    Existing buildings urgently need repairs. The grounds need
improvement. Our water rates cost enormous sums, also our
lighting rates. Whether retrenchment be possible among these