FOR VALUE RECEIVED

The large drive for funds for Harvard started by Bishop Lawrence's speech last night marks a distinct departure. The money is requested and will be used for definite needs needs that have already been felt.

Ever since its foundation Harvard has received gifts of two different main types. Either the money has been donated spontaneously to supply a deficieney which the donor particularly regretted, and has been devoted solely to his purpose. Or else it has come as the result of canvassing by some department or member of the University and has been used for the purposes recommended. Gifts have come mainly from interested individuals, or as the result of requests by interested individuals. And the money has gone into the stipulated channels, whether those channels were dry or not. Notable exceptions have been the sums annually donated by disinterested generosity for the University to use as it sees fit, and the recent endowment raised among the alumni. In each of these cases the moving force has been generous and often self-sacrificing, loyalty.

But these springs will not flow for ever. Nor should such sources be continually called upon. Face to face with the world Harvard must meet its problems in the world's way that is, in a business way. The sums given in the future will be given as investments. And applied as they will be to existing and important needs, for progress as well as maintenance, they will be received as investments.

If the business men of America believe in the venture they will offer their capital. If they respect the product they will lend their efforts to carry on and promote production. Only by maintaining the present standards can Harvard justify their faith. Only by raising those standards can Harvard show its gratitude.