The third of a series of articles by the Harvard Endowment Fund Committee throws additional light on the subject of salaries paid by the University and the cost of living, and shows that an endowment fund is sorely needed to meet the increased price of necessities and to maintain the high standard of instruction in the University. The most important effect of the continued deficits in the expenditures of the University has been a reduction of the unrestricted capital funds, and the resulting policy of retrenchment by the Corporation, which has prevented the University from granting the teaching force increased salaries to meet the tremendous rise in costs.

Since 1906 there has been no advance in the scale of salaries and the large increase for that year is explained by the receipt of the income from the Teachers' Endowment Fund, which was raised in 1905. The following table shows the average salary in the College before the last increase, immediately after it, and at the present time.   Full  Assist.  Entire  Average Year.  Prof.  Prof.  Force  Salary 1903-04  $3,980  $2,130  279  $1,565 1905-06  4,384  2,503  303  1,642 1916-17  4,784  2,931  326  1,840

Thus the average salary in the College jumped in 1906 from $1,565 to $1,642, an increase of $77 made eleven years ago. Since that time the average has gone up to $1,840, an additional increase of $198 in eleven years, or $18 per year. This increase was caused wholly by Promotions on the following scale now in force, and can in no sense be interpreted as a rise in salary scale.

  On  Second  Third  FourthAssistant  Appt.  5 yrs.  5 yrs.  5 yrs.Professor  $2,500  $3,000FullProfessor  $4,000  $4,500  $5,000  $5,50