Repository: UIHistories Project: Board of Trustees Minutes - 1924 [PAGE 385]

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382

board o f trustees

[January 12,

I recommend that this prize be administered by the Head of the Department of Economics subject to the general University policies and the direction of the President. Dr. Mathews' letter and my reply are as follows: President David Kinley, University of Illinois, November 16, 1923 M r dear President Kinley: During the campaign for War-Saving Sales, a number of patriotic people subscribed considerable sums to supplement the appropriations made by the government. As it turned out, not all of the amount was necessary but it was relatively so small that it was quite impractical to divide it or redistribute it among its contributors. In thinking what to do with this amount, which is now approximately thirteen hundred dollars, w e have wondered whether its income might be used as a prize for essays in the general field of thrift. This prize could be awarded either annually or less frequently. It seems further that this prize might be established at the University of Illinois, as the money was given by different persons over the state. I a m writing this in behalf of Mr. Martin A. Ryerson, former Director of W a r Savings for Illinois, to know if you would be ready to accept in behalf of the University this sum for the general purpose indicated, subject to such regulations as your Department of Economics might suggest. Very truly yours Shailer M a t h e w s Ex. Sec. War Savings for III. Urbana, Illinois November 26, 1923 Dean Shailer Mathews, University of Chicago, Chicago

Dear Dean Mathews:

Please accept m y apologies for the delay in answering your letter of the 16th. M y absence with one of m y family in a hospital in another city is the cause. Please accept m y thanks extended to you and Mr. Ryerson for the University for the generous offer which you make us of the War-Savings Stamps Sales Fund. I have consulted Professor Bogart, head of the department of economics, and Dean Thompson, Dean of the College of Commerce, on the matter, and they are both of the opinion that the income from the fund could be used to good advantage in stimulating student interest in the subject of thrift, and the department of economies is willing to administer the fund under the general regulations of the University. I a m authorized by the Board to accept such gift, subject to the rules; the only one of which is of particular interest in connection with the matter is that of which I enclose a copy, concerning a minimum limitation upon the value of gifts. This limitation was made necessary because of frequent offers of gifts so small that the cost of administering them would be greater than their income; the rule affecting this gift only if some gift for a similar purpose were made in later years, so that they could possibly be consolidated. In the case of consolidation the name of this gift would be conserved. Again thanking you and Mr. Ryerson for your courtesy in the matter, I a m Very truly yours David Kinley President President David Kinley, University of Illinois M y dear President Kinley: Enclosed please find check for $1,281.16. Referring to your letter of November 26 I would say that the conditions emphasized will be satisfactory and this money