In his address to the Yale Alumni University Fund Association President Angell brings into further prominence a question that is being widely discussed whenever the future of intercollegiate athletics is brought up. Although Yale is apparently committed by the president's speech to a policy opposed to the endowment plan, the reasons set forth do not seem to challenge the validity of the arguments that have previously been advanced in favor of subsidy.
It does not seem likely that anyone will disagree with President Angell's contention that university endowments should not suffer at the hands of an athletic fund. Proponents of the athletic endowment look for its creation by special contributions and do not expect such donations to detract from the usual source of university revenue.
All the advantages that are claimed for the athletic subside freedom of the student from excessive gate tax, elimination of the temptation to commercialize, and stability for the budget remain to be exploded before one can agree with President Augell's stand.