Report of the Senate Finance Committee Relative to the Endowment of the State Un
Report of the Senate Finance Committee Relative to the Endowment of the State Un
California Legislature Senate Finance Committee
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If, however, the bill under consideration should be passed, securing for some years to come the sum of fifty thousand dollars per annum wherewith to pay the fixed expenses of the University, nearly ail the present available resources (one hundred and seventy-seven thou- sand six hundred and fifty-five dollars) could be used for the con- struction and equipment of the buildings. This sum, with judicious management, we are assured, will provide all the accommodations pressingly needed, without fu...rther assistance from the State. If the endowment asked for in this bill is refused, the construction of the buildings must be stopped, for it would be folly to expend the only avail- able resources, of the institution in building, and then be compelled to discharge the Professors for the want of means to pay them. The only alternative would be to continue the University in the present modest, frame, rented school house, and this would be death to the institution. Our University must be first class in every particular, or it must sink into insignificence.
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