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In the President's report is published a table which shows conclusively that the restriction of scholarships to needy men does not, as many have complained, take away from well-to-do men an indispensable incentive to effort for high standing. A large proportion of the men of high standing do not receive any sort of aid from the University, and have nothing to hope for in the shape of prizes, except out of the regular course. In England, of course, and at many colleges in this country scholarships are given to the men of highest standing without regard to their needs. The system is vogue here is purely American, and seems suited to the needs of an American university, which aims to throw open the doors of education to all alike. It is gratifying to find that this system does not carry in its train the evil result which many would, with considerable reason, predict for it on an a priori consideration of the matter.