UNKNOWN

Marlborough Express, Volume XLVIII, Issue 68, 21 March 1914, Page 7

UNKNOWN

THE MACARTHY BEQUEST

PROPOSED CHAIR OF

ECONOMICS

The offer of the Macarthy trustees of a sum of £2000 for any specific purpose m connection with Victoria College was briefly discussed at the College Council meeting on Wednesday evening (states the Post). The Finance Committee asked for extension of time for -the consideration of the question of • finance as affecting any proposal to be submitted to the trustees.

Sir Robert Stout urged the establishment of a chair of economics with the money, 'and regretted that there should 'be' any delay in tho matter. He did not believe in the suggestion to devote the money to the erection of a building. The Hon. A. L. Herdman said it was, desirable to give further ooiv,eideration tof.the question. He felt sur,e the trustees would not put any obstacles in the waj? of further consideration.

Sir Robert Stout again protested against delay. Mr C. B. Morison, K.C., held that complete'details should be before the council, estimates for the coming year, and a general statement of finances, before they took a definite stop. AH they were waiting f«r was the estimates. . Dr Knight said the feeling of the •council was apparently in favor, of a chair of economics, but £2000 would nob be nearly sufficient to endow eucli a chair. Afr least £12,000; or £24,000 would be required, and they •-would have to study their finances before • they could see their *ay to consummation.

?-'rMr/-M6fitoriVsaid the question of filling thft chair would have to be deferred in any event. The two things; were quite distinct: (1) The desirability of establishing a chair of economics, and (2) the financial question conTiected with the establishment of such a chair.

Sir Robert Stout then moved as an amendment—''That the Macarthy trustees be informed that the council think that the proposed gilt should be utilised for the purpose of teaching economics, and that a chair of economics be founded; and./ Mr McCarthy's name be associated therewith; (2) that, ii the trustees agree to this proposal, .the Finance Committee furnish details of how the scheme may be carried out.

This was seconded by Mr Morison, and lost by 2 votes t0,6, the ayes being Sir Robert Stout and Mr Morison.

The recommendation of the Finance Committee, already set forth, was then adopted.