The decision of the Business School to raise the tuition for the coming year from $250 to $400 is necessary even though regrettable. The income from endowment is so small that the greater part of the operating expenses must come from the tuition fees. The proposed increase will only just effect what is now an annual deficit, and will put the school on a sound financial basis.

The Business School is among the most important of the graduate departments, although one of the more recently established. Its history shows a uniform growth, until now it is perhaps the best best-known school of its kind in the country. In spite of camped quarters, which have been a great handicap, it offers such first-class training in administrative work as is essential to modern business success, and consequently it is of real service to the industry of the country. The value of its instruction is amply demonstrated by the high esteem in which it is held by the nation's most prominent business men.

None the less, Harvard cannot afford to maintain the school, successful as it undoubtedly is, under existing conditions; and the Corporation has rightly decided that those who are to benefit by it must come to its support. If the Business School really fulfils its purpose, this action on the part of the University will not decrease the demand for the training it offers, but will bring about a more effective operation of the school, especially if the much needed new building is obtained.