A Memorial of the Smei-Centennial Celebration of the Founding of the Theological Seminary at Andover

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1859 edition. Excerpt: ... uses, from which they cannot be diverted. Thus, for instance, with the newly endowed Hitchcock Professorship, $125,000 are set apart by statute for the regular support of the five Professors; and the Boston Fund of $30,000, recently subscribed, is given for the same express object--making a total of $155,000 for this purpose. In like manner, the Library has been specially favored by several donors, and $20,000 are held for its exclusive increase. So the hand of Christian sympathy has been extended to the indigent students; and beneficiary funds, in the form of scholarships and otherwise, for their aid, have been provided, amounting to $30,000. Liberal as the endowment of the Institution has been, therefore--especially for the times in which it originated--the first generous outlay on buildings and grounds, with this careful appropriation of most of the remaining funds to these and other specific objects, has required a rigid economy in the use of what is left for general and contingent purposes, and of late years has compelled the Trustees to appeal to the public for aid. But while, from the very nature of the Institution, as a beneficiary establishment, with the vigorous growth it has had, its prosperity has increased its financial wants, --and must continue to do so--the work which has been done for it is fitted to excite our admiration, especially the munificence of its earlier and larger benefactors. Allow me to recite a few of the items: Madame Phillips and her son gave Phillips Hall and a Steward's house which stood in the rear; cost about $20,000 Mr. Abbot endowed the Abbot Professorship, and left the bulk of his estate to the Institution by his will, making an aggregate, including the house for his Professorship, erected from the...