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plc(!>ill Itniuevsitjj. 
 
 STATEMENT OF THE BOARD OF GOVERNORS RESPECTTNn THE 
 FINANCIAL POSITION OF THE UNIVERSITY AND ITS PRE- 
 SENT WANTS. 
 
 v April, 1886. 
 
 In July, 1881, a statement with respect to the financial position 
 and wants of McGill University was prepared and presented to its 
 friends, with the view of obtaining an increase of its endowments. 
 The following facts were at that- Mnie referred to in connection with 
 an appeal for benefactions : — 
 
 "On the lo-orgtinisation of McGill University under ito Amended Char- 
 ter, it became apparent that witliout increased revenues it could nr)t hope to 
 enter on a career of practical usefulness. Its income was insutiicient to 
 Bupport tl»o requisite number of Chairs, its aids from tlie Provincial Govern- 
 ment were very small, and it.s real estate could not be rendered productive, 
 except gradually. In 1856, therefore, an appeal was made to the citizens of 
 Montreal to sustain it by subscriptions and permanent endowments." 
 
 "To this appeal a most hearty and liberal response wax made, as is shown 
 by the list of benefactions in the Calendar of the Univeriuty, headed by the 
 endowment of the Molson Chair of English Literature. In subsequent years 
 this liberality was followed up by other benefactions, including', besides 
 contributions to the general funds and to the Faculty of Applied Science, 
 the endowment of the Peter Redpath, Logan and John Frothingham Chairs, 
 the erection of the William Molson Hall and other buildings, the endow- 
 ment of many Scholarships, Medals and Prizes." 
 
 " By these aids and the careful administration of the estate of the founder, 
 • • • • the University has been enabled, by limiting its expenditurr 
 to the more i.ssential requirements of educational work, to atta'.n a position 
 second to that of no University in the Dominion, and to develop its means 
 of instruction in the Faculty of Arts and the F'rofessional Faciulties, on a 
 scale not previously attempted in this country, and with the most enc.ourag- 
 ing results with respect to its number of stuiients and graduates and the edu- 
 cational benefits actually conferred. It has also been enabled to promote 
 the egtablighment and further the success of Theological Colleges, which 
 are of the utmost value to the leading Protestant denominations of this Pro- 
 vince. It has obtained large donations of books, specimens and apparatus 
 for the use of the public, and latterly, through the munificence of Mr Peter 
 Redpath, it has been enabled to associate with itself the great Museum which 
 bears his name, and which will be to all time one of the most attractive and 
 useful of the educational and economic institutions of the city." 
 
[XL) 
 
 '< It is to be ol»H<?rved, however, thnt the revenue of the FnlverHlty has at 
 no time been more tbiin barely miffitient for its maintenance, and that the 
 moat rigid ci'onnmy hn8 been necessary in n ier to enable the staft' and 
 applianeeH required for its nctual work to bo supported. It has hence arisen, 
 that througli tliu demands fur improvement in educational facilities, along 
 with the necessity within u few years past to make certain laigci capital pay- 
 ments connected with the estate and its burdens, the Governors have found 
 that a deficit which has appeared in the published accounts of the two past 
 years, but which they had hoped would have been effaced by new sources oi 
 income, threatens, owing to the recent and heavy fall in tlie rate of interest 
 receivable on all investments, to increase to such an amount that it has be- 
 come a serious question whether they will be justified in impairing the 
 capital by the continuance of educational work on its present scale." * *. 
 
 " After much anxious deliberation, and weighing carefully the resources 
 of the University, and the loss of usefulneis and prestige certain to result 
 from any diminution of the staff of instructors or their salaries, the Gover- 
 nors have resolved to retrench all expenditures that can be diminished with- 
 out serious loss of efficiency, though by so doing they cannot avoid some- 
 what lessening the attractiveness of the University to students, but to post- 
 pone for one year any more serious retrenchments, in the hope that as here- 
 tofore the friends of education may come to their aid." 
 
 " They feel that they are the more justified in this course by the fact that 
 the demand for the higher education and for extension rather than diminu- 
 tion of the facilities oficred, was never so great as at present, and that any 
 recession from the |)osition occupied by McOili Mniversity, could not fail to 
 place it at a disadvantage in relation to other institutions, and to have an 
 effect detrimental to the interests of this city, and of the Protestant popula- 
 tion of the Province " 
 
 The statement above quoted was accom])anied with full informa- 
 tion respecting the income and expenditure of ihe University, and 
 with suggestions as to the special directions in which the most 
 effectual relief could be afforded. 
 
 In response to this appeal endowments were given in 1 88 1-2-3 
 to the amount of $33,500, and annual subscriptions e.xtending over 
 from two to five years to the amount of about $3,500 per annum. 
 Subsequently to this, the William Scott Chair of Engineering was 
 founded by the late Miss Barbara Scott, with a capital of $30,000; 
 the Hiram Mills Chair of Classics, by the late Major Hiram Mills, 
 with a capital of $43,000 ; the David J. Greenshields Chair of 
 Chemistry and Mineralogy, by the late David J. Greenshields, Esq., 
 with a capital of $40,000 ; and the Gale Chair, in the Faculty of 
 I^w, by the late Mrs. Andrew Stuart {nh Agnes Logan Gale), with 
 a capital of $25,000. The sum of $25,000 was also given by Mr. 
 W. C. McDonald in endowment of his scholarships. In the Faculty 
 of Medicine the Lean Choil endowment of $50,000 was given by the 
 
Honorable D. A. Smith, and the Campbell Memorial Endowment 
 of $50,000, by citizens of Montreal ; while the Donalda Special 
 Course for women has been endowed l»v the Honorable D. A. 
 Smith with the sum of $50,000, to which the same donor has pro- 
 mised to add $70,000 on ist June next. Within this period the 
 University has also received a namber of gifts of smaller amount for 
 endowment of medals and scholarships, for the purchase of appara 
 tus and for additions to the Museum. 
 
 The result has been that while un ist July, 1S81, the revenue 
 producing investments of the I'niversity amounted in 
 
 round numbers to $3<S5,ooo 
 
 They stood at the last balance, 1S85, at 721,000 
 
 Showing an increase of $336,000 
 
 Of this sum the endowments specially devoted as detailed 
 above, received to date, such as the l,ean Choil and 
 Campbell Kunds for .Medicine, the Donalda Fund for 
 the education of women, the CJale I'und for Law and the 
 McDonald Fund for scholarships, and other smaller con- 
 tributions amount to 190,000 
 
 On the other hand the subscriptions of 18S 1-2-3, with the 
 Scott, Mills and Oreen.shields endowments, amounting to $146,000 
 represent the addition to the (ieneral Fund of the University, 
 avaiUMe for general purposes, to make good the deficiency of 
 revenue foreseen when the statement of iSSi was laid before the 
 public, and to enable the University to maintain its work. 
 
 Of the larger sums above referred to, amounting to $190,000, (to be 
 soon increased to $260,000 by the Hon. D. A. Smith's further liberality 
 of $70,000) it will be observed that while, enabling the University to 
 enlarge and extend its work, they, bein^i; s|>ecially applied in «(7<' direc- 
 tions, have not added to n^^e/ieral revenue. For these liberal aids the 
 University has good reason to be grateful, and, with their assistance, it 
 has been enabled to avoid any reduction of its educational work, and 
 to add largely to its means of usefulness, more especially in medical 
 education and the education of women. These benefactions are not, 
 however, available generally, and as already stated the full extent of 
 the benefactions received applicable to i^enenil jjurposes is $146,000. 
 
 Unfortunately, however, the rate of interest on investments has 
 not recovered, nor is there prospect of this. On the contrary, the 
 decline has, as is well known, contioued. At the same time many 
 
 
expenditures have been necessary in repairs and improvements 
 of buildings, apparatus, I'vrc, to keep pace with the re(|uircnicnts of 
 the public, and the result has been that the income of the whole 
 of the endowments and the amount of the annual subscriptions 
 have been necessary to maintain educational efficiency, while the 
 cessation of the annual subscriptions, at the end of the present 
 financial year in June, 1886, will leave in the next year 1886-7, a 
 probable deficit of about $2,500. 
 
 In these circumstances the Oovernors are desirous that, in order 
 to i)revent any reduction of the work now in progress, the friends of 
 the University should consider the expediency of a farther increase 
 of the endowment, so as to meet the probable deficit and to provide 
 a surplus available for unforeseen emergencies and for additions de- 
 manded by the increase in the number of students. In furtherance 
 of this the following suggestions arc respectfully presented to those 
 desirous of promoting the higher education. 
 
 I. It has been suggested that a British Association Memorial 
 Fund, for the further endowment of the scientific courses of study 
 in the Faculties of Arts and Applied Science, would be a fitting and 
 useful commemoration of the successful meeting in this riiy in 1884, 
 and of the part taken by the University and l)y gentlemen connected 
 with it in that meeting. To contributors to this fund the University 
 would grant a free tuition for one student in the Faculty of Arts for 
 every sum of $1,000 contributed to the fund. 
 
 II. If preferred by contributors, their donations might be devoted 
 to certain special objects, all more or less chargeable, or likely to be 
 chargeable, on the general fund, which would be relieved by their 
 being provided with special endowments. The objects most im 
 portant in this respect at present are the following : — 
 
 1. The Principalship. 
 
 2. The Librarianship. 
 
 3. The Chair of Hebrew, to which the attention of the friends 
 
 of the Theological Colleges is specially directed. 
 
 4. The Chair of French. 
 
 5. The Chair of German. 
 
 6. The Assistant Professorship of Classics. 
 
 7. The Chair of Mathematics. 
 
 8. The Chair of Descriptive Geometry. 
 
 9. The Chair of Botany, now temporarily provided for apart 
 
 from the General Fund. 
 
 10. The Maintenance of the Faculty of Law. 
 
 1 1. The Maintenance of the Library, Museum and Apparatus. 
 
 1 2. The further endowment of the Faculty of Applied Science. 
 
 
An endowment or endov;ments under either of the above heads to 
 the amount of" $75,000 would enable the University permanently to 
 provide for the whole of its present work under the existing rates of 
 inte)"st un investments ; but to meet all the demands now made for 
 inrreasod educational facilities would retjuirc an adilition of not less 
 than $250,000 to the present endowment. 
 
 In connection with the lari^cr sum above stated, the Governors 
 will be most j^ralcful for any benefactions leading to new departments 
 of educational work, or to the extension of those now in piogress, or 
 to the improvement of its buildings or additii)ns thereto, in connec- 
 tion with any of the l''a( uities, and more cspe( ially to the erection of 
 a college Dining-liall and of a building fi)r the Fatuity of A|)plied 
 Science ; but it is thought expedient for the present rather to invite 
 attention to the objects above specified, not as being in themselves 
 more important than others, but as being in such a position that their 
 endowment would give immediate relief to the general fund and thus 
 contribute to the .■>ecurity and progress of the L'nivcrsity. 
 
 The (/overnors beg to submit the above facts and suggestions to 
 their fellow-citizens, feeling that the maintenance and progress of an 
 institution so important to the city, which has hitherto so liberally 
 sustained it, is a matter of general interest, and one which will 
 commend itself to the thoughtful consideration of an intelligent 
 and progressive community. The (jovernors are on their part willing 
 as heretofore to give their time and thoiiglit to the furtherance of the 
 aiuse of higher education in connection with the University, and to 
 administer in the most careful manner such funds as may be jilaced 
 at their disposal. 'I'liey can assure all benefactors that from year to year 
 the expenditures have been sedulously watched with reference to 
 their amounts and the i>ractical utility of the objects for which they 
 were made. 
 
 Further details as to the work, endowments, expenditures and 
 present position of the University will be found in the Annual 
 Report to the Visitor for lust year, which has been ])rinted for 
 circulation. 
 
 Published by order of the Board of Gorernors, 
 
 JAMFS FKRRIKR, 
 
 Chancellor and President. 
 
 ■a