09.01.2013 Views

Untitled - eCommons@Cornell - Cornell University

Untitled - eCommons@Cornell - Cornell University

Untitled - eCommons@Cornell - Cornell University

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

6 CORNELL UNIVERSITY REGISTER<br />

and appropriating to it the income of New York's share of the land-<br />

grant fund. The founder's broad conception of a university was<br />

reconciled with the narrower purpose of the Act of Congress by means<br />

of a provision in the charter that, besides such branches of learning<br />

as are related to agriculture and the mechanic arts, "such other<br />

branches of science and knowledge may be embraced in the plan of<br />

instruction and investigation pertaining to the university as the<br />

proper."<br />

trustees may deem useful and In the same liberal spirit it<br />

was provided in regard to the board of trustees that "at no time shall<br />

;"<br />

a majority of the board be of one religious sect or of no religious sect<br />

in regard to professors and other officers, that "persons of every reli<br />

gious denomination or of no religious denomination shall be equally<br />

appointme<br />

eligible to all offices and<br />

and in regard to students,<br />

that the <strong>University</strong> should admit them "at the lowest rates of ex<br />

pense consistent with its welfare and<br />

ly<br />

efficiency,"<br />

and more particular<br />

that it should "receive students to the number of one each year<br />

from each assembly district in this State. . .free of any tuition<br />

fee. . .in consideration of their superior ability and as a reward for<br />

superior scholarship in the academies and public schools of this<br />

State."<br />

Ezra <strong>Cornell</strong>'s direct gifts to the <strong>University</strong> were five hundred<br />

thousand dollars, two hundred acres of land with useful buildings,<br />

and several smaller gifts for special purposes. His largest benefac<br />

tion came in the form of profits eventually made by the <strong>University</strong><br />

on land scrip that he purchased from the State. The State Comp<br />

troller had sold no more than 76,000 acres in the autumn of 1865,<br />

when Mr. <strong>Cornell</strong> bought 100,000 acres for $50,000 on condition that<br />

all the profits accruing from the sale of the land should be paid to<br />

<strong>Cornell</strong> <strong>University</strong>. That purchase was but the beginning of Mr.<br />

<strong>Cornell</strong>'s great operation in land for the <strong>University</strong>'s benefit. In<br />

April of 1866 the Legislature passed "an act to authorize and facilitate<br />

the early disposition by the Comptroller of the lands or land scrip<br />

States."<br />

the United The Comptroller was<br />

donated to this State by<br />

authorized to sell scrip at not less than 30 cents an acre to the trustees<br />

of <strong>Cornell</strong> <strong>University</strong>, or, if they did not purchase, to anybody who<br />

would give proper security that the whole net profits from the sale of<br />

the lands would be paid to <strong>Cornell</strong> <strong>University</strong>. The trustees were not<br />

able to make the purchase. Mr. <strong>Cornell</strong> agreed to take the scrip at<br />

30 cents an acre, or 60 cents an acre, the market value, if he realized<br />

so much as that in the sale of the land. He made the following stip<br />

ulation in a letter to the Comptroller: "I shall most cheerfully accept<br />

your views so far as to consent to place the entire profits to be derived<br />

from the sale of the lands to be located with the college land scrip in<br />

the treasury of the State, if the State will receive the money as a<br />

separate fund from that which may be derived from the sale of the<br />

scrip, and will keep it permanently invested, and appropriate the<br />

proceeds from the income thereof annually to the <strong>Cornell</strong> <strong>University</strong>,<br />

subject to the direction of the trustees thereof for the general purposes

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!