BUT A BEGINNING.

The 50 per cent, increase in the Salaries of professors is a splendid start in the disposition of the Endowment Fund,--but it must be remembered that it is only a start. Even before the war teachers were underpaid, and a 50 per cent, raise in the wages does not nearly offset the 100 per cent in prices since then. A maximum salary of $8,000 to the highest paid professor shows that there is still much to be desired.

With the Endowment Fund still nearly $3,000,000 short of its goal, a further raise is impossible now. If the salaries are to reach a satisfactory figure, the campaign must get across the "dead center" of $12,000,000 on which it now is stuck, and pass well over $15,000,000, the minimum figure which has been set.