The March number of the Graduates' Magazine contains an article advocating the opening of scholarships to the whole University, instead of restricting them to the students who are in need of material assistance in order that they may complete their course.
The writer of this article seems to think that there are no high honors in the University open to the rich student. He appears to think that no prize that does not actually bear the name of scholarship is worth the scholar's winning. This is a mere confusion of terms. There are high honors in every department of the University that the rich scholar may win, and every one understands that the prizes are the reward for excellent scholarship, call them by what names you will.
The writer in one place speaks of the stimulus that liberal prizes like the scholarships would be to the rich man. What powerful incentive would money be to the man who already has plenty? The chief incentive to such a man would be the honor gained, and there are higher honors open to the scholar than those which are called scholarships. If the scholarships were open to those men who had plenty of money, it would be hardly fair to the poorer students. A rich man would feel when he won a scholarship that the money would far better have gone to some equally deserving though less fortunate fellow students.