Abstract
THE problem of university finance is not a simple one, and the solution is not yet. Apart from endowments, which in this country are relatively small, the three main sources of income are students' fees, Parliamentary grants, and grants from local authorities, and these three bear no fixed relation to one another. Students' fees vary according to time and place; the Parliamentary grant, administered by the University oGrants Committee, seems to be allocated according to no definite principle; and the local authorities may or may not contribute to the maintenance of the universities, and where they do contribute their subventions from the rates are by no means uniform in amount. Even in normal years the fluctuating character of the income makes the task of financing a university not a light one, while in abnormal times the task becomes one of difficulty and embarrassment. Under such conditions the marvel is that so many able business men have been found ready and willing in an honorary capacity to give their time and energy to help in directing the financial affairs of our universities. That they do so speaks much for the hold which higher learning has upon a valued and important section of the community, but such interest aught not to be looked upon as a justification of the system, or rather lack of system, of finance which exists at present.
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University Finance. Nature 107, 737–738 (1921). https://doi.org/10.1038/107737a0
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DOI: https://doi.org/10.1038/107737a0