UNIVERSITY AND SLUMP

Taranaki Daily News, 23 November 1932, Page 5

UNIVERSITY AND SLUMP

CONCERN AT CAMBRIDGE. THE NEED FOR ECONOMY. In making the customary speech at the commencement of the new academical year at Cambridge University on September 30, Mr. Will Spens, master of Corpus Christi College, who enters on his second year of office as vicechancellor, dealt at some length with the financial position of the university in view of the world crisis. Mr. Spens said it was certain that the university could not reckon with an exp ansi on of its income by benefactions or otherwise during the next ten years comparable with that in the past decade. It was possible that from one cause or another the income of the university might seriously diminish. In the first place it was necessary to secure a somewhat stricter control of expenditure. In the second place it was necessary to effect economies and generally to conserve the resources of the university so as to secure a margin of income which, if the university’s present income were maintained, would supply the means of financing necessary developments in the future as they arose and which would enable the university to deal immediately with any fall in income. As the result of various economies, thanks to the admirable co-operation of all concerned, reductions were effected with little or no loss of efficiency, and a margin of over £6OOO was secured on the past financial year. This was carried to the sites and buildings funds, in addition to the ordinary allocation to that fund. If there was no greater loss of income than could already be foreseen, and if further proposed economies, of. which the faculties and departments were already aware, were effected in the present year, it should be possible to maintain for the time being an annual allocation to the sites and buildings fund of about £20,000. If, on the other hand, there was an unexpected drop in the income of the university it would be possible to make an immediate reduction in the allocations to the fund with a view to meeting, in ndtfdft c? Barts such a loss q£ ■■incoma,