SEC. 2. Specialized courses in university subjects. These courses are designed to give a knowledge of the evolution and science of each subject and to fit the student for literary, professional, scientific, and industrial pursuits.

SEC. 3. Original research. This division is designed to promote original research and direct the efforts of students who desire the assistance of a master.

SEC. 4. Professional schools. At present there shall be schools of law, jurisprudence and diplomacy, medicine, and dentistry. Technical schools may be established, but at present work done in designated schools of this class shall be recognized by the university and proper credit given therefor.

ARTICLE II.-University subjects.

SECTION 1. For convenience of statement these subjects are grouped under six general heads:

(1) Philosophy; (2) language, linguistics, and literature; (3) mathematics, pure and applied; (4) science, natural and physical; (5) history and political science; (6) engineering and architecture.

ARTICLE IV.-Development of university subjects.

SECTION 1. Subjects shall be divided into three sections, as follows:

(1) The fundamental section, covering two years' work; this section to be assigned to students in the general culture courses.

(2) The advanced section, not exceeding three years; this section to be assigned to students specializing for literary, scientific, professional, or industrial pursuits. (3) The original research section; this section to be assigned to students pursuing a subject for discovery and broader culture.

ARTICLE VI.-Courses of study.

SECTION 1. General culture courses for the first two years of study for candidates for the degrees of bachelor of arts and bachelor of science shall be arranged by the university council and printed each year in the bulletins of the university. SEC. 2. The university council shall determine the minimum hours of class-room work required in the three years for the bachelor's degree. The scope of the general culture courses and the amount and standard of the work required in the three years shall be sufficiently high to make the degree equal in value to like degrees of other universities of the first rank in the United States.

* * *

SEC. 3. A student who has taken his bachelor's degree shall be entitled to credit for one year in his special or professional course, provided he has taken for a part of his third year for the bachelor's degree the first year's work in such special or professional course.

SEC. 4. The university council shall also arrange courses of one year each to be the fourth year in university studies, leading to the degree of master of arts or master of science, and the university council shall also arrange courses leading to degrees in engineering.

ARTICLE VII.---Degrees.

SECTION 1. The degree of bachelor of arts or of bachelor of science shall be conferred upon a student who has been regularly admitted and has satisfactorily performed the work and passed the examinations required in the general culture course of two years, and who has performed the work and passed the examinations in one year of specialized work approved by the university council.

SEC. 2. The degree of master of arts or master of science shall be conferred upon a student who has performed the work and passed the examinations of the fourth year of university studies.

Tujts College. For some years this institution has granted the A. B. degree under certain conditions at the end of three years of residence. In his report for 1901-2, the president of Tufts College has the following to say concerning the matter:

It is now nine years since Tufts College granted the privilege to students of taking the degree of bachelor of arts after three years of residence on condition of maintaining grade B as an average for the entire work. Tufts College was the first college in New England, I think, to grant this privilege in a formal way. During the period that the rule has been in operation 13 students have availed themselves of the privilege.

EDUCATION REPORT, 1902.

An even greater number than that have completed the required one hundred and twenty-eight term hours in three years on the prescribed conditions, but have chosen to remain an additional year and take at the end of the four years the degree of bachelor of arts and master of arts as well. So far the rule has worked well and the faculty has seen no occasion to regret the step. Indeed, there are many reasons for going still further and offering the degree at the end of three years simply on the basis of a satisfactory passing mark. reason for imposing harder conditions upon one who chooses to complete the course In the first place there would seem to be no defensible in three years than upon one who elects to spread the work over four years. Especially is this true in view of the pressure of the college curriculum from both sides. The requirements for admission are now so high that very few persons, even in communities where the public school facilities are of the best, can get to college before 19 to 20 years of age.

Then the demands for professional and technical training have enormously increased within the last two decades. Medical schools gradually within that time have advanced their courses from two years of six months each to three years, and from three years to four years of eight months of actual work. Dental schools have raised their requirements from two years to three years, and some, our own among the number, are now demanding four years. requirements likewise from two years to three years. Those who are looking toward Law schools have advanced their independent and professional work in either science or letters can not obtain in reputable universities the degree of doctor of science or doctor of philosophy in less than three years. The saving, therefore, of one year in passage through college is of immense importance. The undergraduate department of Johns Hopkins University has been from the beginning on a three-year basis, and the collegiate department of Clark University, about to be opened, by the provision of the will of the late Jonas Clark, making provision for the same, is to be restricted to a three years' course. that it would seem that the opportunity at least of attaining the degree of bachelor of arts in three years is becoming more and more imperative for all the colleges.

So

CHAPTER XXIV.

OXFORD UNIVERSITY.

Contents.-Oxford University and the Rhodes scholarships, by W. T. Harris.-History of the Univer sity of Oxford, by John W. Hoyt.-The Bodleian tercentenary, by J. B. Firth.-Oxford University extension lectures, official circular and programme.

OXFORD UNIVERSITY AND THE RHODES SCHOLARSHIPS.@
By W. T. HARRIS.

[Reprinted from the Proceedings of the Department of Superintendence of the National Educational Association, 1903.]

One of the memorable events of last year was the offer of Cecil Rhodes, made known to us through the provisions of his will, providing for a hundred perpetual scholarships in the University of Oxford, two for each State and cach Territory in the United States, a scholarship amounting to the handsome annual sum of three hundred pounds-say $1,500-to support a student for three years at the most famous university in Great Britain.

This provision was made with the noble purpose of bringing about a more intimate and sympathetic acquaintance between the most influential class of citizens in the English nation and the people who have gone out from it in past times and founded an independent nation on the basis of constitutional liberty and local self-government. In the words of his will, "the union of the English-speaking peoples throughout the world" impelled him to make this endowment. He desired "to encourage in the students from the United States of North America, who will benefit from the American scholarships, to be established, for the reason given, at the University of Oxford under this my will, an attachment to the country from which they have sprung, but without withdrawing them or their sympathies from the land of their adoption or birth.”

As a guide to his trustees in the selection of incumbents of these scholarships, Mr. Rhodes mentions four qualifications: first, literary and scholastic attainments; second, fondness for outdoor sports; third, unselfishness and good fellowship; and lastly, moral force of character and zeal in the performance of public duties.

All good people will respond with a hearty spirit of cooperation to so noble a project, and we may well consider what it signifies and what are the conditions of its successful management.

The past three years have been noteworthy, in the history of industry and finance, for the development of productive industry. Pari passu with this has gone on the taking possession of the resources of nature, and the increase of the assets of civilization-wealth in mineral, vegetable, and animal productions; natural forces have been harnessed for the use of men, lessening distances and removing obstacles to communication by land and water. Never before has the potency of capital been so

a The educational provisions of Cecil Rhodes's will are given in the Report of this office for 1901, chap. 47, pp. 2417-2450.

awe-inspiring. To name in one word the function of the great process going on, one would say that it is the removal of the middle man, who effects exchanges, to the function of the end man, who is direct producer or direct consumer. By saving in the middle term of cost of manufacturing, transporting, and distributing there comes to be an enormous accumulation of capital. After apportioning to the producers and consumers their quota of the benefit derived from reducing the expense of the middle term, the owners of capital have for many years made large gifts to education.

The names of Tulane, Johns Hopkins, Cornell, Leland Stanford, Drexel, Vanderbilt, Sophie Newcomb, Vassar, Wellesley, Smith, Yale, Chicago, and Harvard come to our minds as the leading colleges recipient of endowments.

For the year 1899-1900, gifts for higher education amounting in the aggregate to $11,995,463 were reported to the Bureau of Education by the several colleges and universities. For the year 1900-1901 the gifts amounted to $18,040,413. For the year 1901-1902 thus far the gifts reported amount to $16,989,967. Not all of the university reports for 1902 are in.

The Carnegie gifts for libraries and other institutions have been estimated at the following: For 1895, $1,000,000; for 1898, $310,000; 1899, $3,370,000; for 1900, $5,065,000; for 1901, $30,243,500. Counting in his gift for the Carnegie Institution in Washington, his grand total of gifts in the United States is estimated at $52,270,173. Besides this his total for Canada, Cuba, England, Ireland, and Scotland amounts to $15,000,000 more.

This enormous increase in gifts to education incident to the amassing of capital is of special interest to this consideration of the Rhodes gift, by reason of the fact that the application of capital to the increase of wealth is a process somewhat mysterious to the common mind. Karl Marx's formula C-M-C, commodity-money-commodity—or the producer exchanges the commodity which he has created for money, and with money procures the other commodities which he wishes for use, states the first and obvious economic process (in a formula C-M-C); but the middle term, money, when expanded, comes to mean the market, and the market has a different function from C-M-C, or commodity-money-commodity-namely, it starts with M, or money, and buys commodities, to sell again for money, hoping to increase its money by the process-earning an income by the process of exchange-and this formula is M-C-M, according to Marx, and in that he sees the origin of all the evils in an industrial and commercial civilization, for this is the formula of the capitalist. The capitalist as the middle term represents a stock of goods and its transportation and distribution. Without this middle term the producer can produce only what is useful to himself and not for his neighbor or for the market of the world, because there is and can be no market without this second formula M-C-M, money-commodity-money.

It is obvious that the profit of the market, the middle term, is greater when its own expenses of collection and distribution are diminished-and when this is done on a large scale, say by gigantic railways on land or ships on the sea, great economy is secured, and there are large savings to be distributed, partly to the producer of raw material, partly to the manufacturer, and partly to the consumer, and a large dividend left for capital which supports the world market.

Things without use can not be counted as property, and there is no object in creating a surplus of goods that can not be used. To transport things from a place where they have no use to a place where they are needed is to produce value; and, as an actual fact, by far the largest portion of the final cost (to the consumer) of the commodities that in the aggregate constitute wealth derive their value from the two services of the market, namely, the collection and the distribution of commoditiesthe function of the market (M-C-M) so strangely misunderstood and suspected by Karl Marx.

It shares with the producer

But the market collects its toll from the consumer. the total amount received from the consumer. The market causes competition, and competition reduces the producer's profit, and also the profit of the market. The less the charge of the market (that is to say, the middle man), the efficiency of collection and distribution remaining the same, the greater the profit to the end men, that is, to the producer and the consumer.< It is obvious that the increase of the efficiency of the market and the diminution of its charges indicate economic progress. It is in the line of the reduction of the necessary labor to conquer nature. The production of the raw material, its collection, its manufacture, distribution, and consumption, require less expenditure of human labor, or of its representative, which is money.

From this point we can see the significance of this great movement of capital in our times which diminishes the number of middle men and transfers them to the function of end men, that is, producers and consumers. It is the aim of every combination that capital makes to reduce the expenses of exchange, give the producer a higher reward, and share with the consumer by lowering the price of the finished product to him. For the performance of this function capital collects its tithes. It gets perhaps a tenth of what it saves, distributing on an average the other ninetenths to the producers and the consumers.

In our day the enormous aggregates of capital are hastening forward this beneficent process with ever-increasing speed. It is, of course, out of place to consider here the fact that so important and radical a transformation as results from this great process necessarily involves much evil and much suffering to the human beings that are forced from the place of middle men to the place of end men. All readjustment of vocations involves inconvenience, and sometimes suffering, and even injustice.

But we may remark that if a new investment of capital pays well for a while, it is constantly attacked by newer inventions and newer combinations which, being more economical than the old-that is to say, needing fewer middle men-cause the old investment to pay less and less interest to the capital. Old investments, therefore, in capital are obliged constantly to divide with new combinations, and the producer and the consumer-the end men-finally get all the profit. The inventions of fifty years ago are nearly all now the property of the community at large.

Returning to our theme, endowments for education, we see what significance there is for the future of civilization in this accumulation of capital. For its accumulation stimulates the work of prospecting for natural resources, not only the home resources of the great nations, but the resources abroad in the world at large-the possible resources of all lands. Witness the acquisition of the oil lands, the deposits of gold, silver, and diamonds, the ore deposits of useful minerals-coal, iron, copper, and tinwherever they are. Apparently the era has arrived when the possibilities of food producing which belong to the tropics-to the Amazon valley, for instance-shall be first capitalized, and after that made tributary to the populations of Europe by a vast commercial stream of merchandise consisting of cheap elements of food and textile fabrics and lumber. On reflection one sees the vast possibilities of raw material are more likely to be soon utilized if they come into the possession of great stock companies than if they belong to private owners. Great companies see to it that there are provided all the necessary means of production and of transportation to the best markets.

The era of the creation of capital is also the era of endowment of higher education. Higher education is becoming more and more a process of research and original investigation. And it is the experts furnished by the instruction of the laboratory

A ready example of this is found in the reduction of the cost of transportation from St. Paul to New York City which Langiven the consumer his year's flour in New York as cheap as it can be had at St. Paul with the addition to that price of only a single day's wages.