The most crying need of the students is more dormitories near or in the college yard by which they may be within easy reach of all the buildings, and also be free from the extortion practised by Cambridge boarding-house keepers, whose prices rise year by year as they see each freshman class larger than the last, more than ever at their mercy from want of sufficient accommodations under college rule. The most pressing need of the college, according to the president's report, is more unencumbered money for running expenses. The treasurer's report states that the percentage of returns for capital invested was smaller for 1883 than the year before, and that this decrease is likely to continue as long as there is so much spare capital seeking investment. One remedy could be applied to both these evils. Let the college take some of the unencumbered funds and build a new dormitory or dormitories, for there is room for several.

This would meet the cry of the students for more room and at the same time return to the college a larger sum as yearly rent than could be obtained by investing the money elsewhere in mortgages, real estate or bonds. To prove that this latter fact is clearly so we have only to cite the case of one of the dormitories in the yard. Take Matthews for an example. This building cost, twelve years ago, about $100,000, perhaps a little more. Its net returns for the year 1883 were nearly $10,000, almost 10 per cent on the capital invested. If this has been the regular return since it was built the rent has more than covered the original outlay, in twelve years. 10 per cent is much more than Mr. Hooper, the treasurer, can obtain from any ordinary investment, in fact twice as much. If the college is unable to build at present let them urge some of Harvard's numerous friends and well wishers to devote their spare money to such a worthy object.