Rumors that Yale, unable to balance her current budget, would reduce faculty salaries and drastically curtail personnel have been denied by President Angell. This is good news not only to the Yale faculty, but to the faculties of many other universities, which escaping salary losses thus far, have feared the effect upon their own fortunes of a reduction policy initiated by some of the larger and wealthier institutions.

The sad fact remains, however, that Yale lacks a half million dollars of meeting expenses, and that a ten per cent budget cut will have to be imposed upon all departments of the university. Classes given every year will for a time be offered only in alternate years; small class sections will be combined to form larger ones: and the lower instructing staff will be slightly decreased. Thus, though the permanent faculty may escape, the burden will fall upon a few young instructors and upon the student body, which will be offered a less ambitious program of instruction.

Compare with this curtailment in educational activities the phenomenal growth in building that is taking place at Yale. Luxurious Gothic structures are rising in the form of libraries, gymnasiums, dormitories, and classrooms. In years of prosperity the educational program grows along with the architecture, but never at any equal pace. Though Yale has been more fortunate than most institutions in acquiring gifts, the same situation part on many other education is building itself a beautiful shell, but in years like this the hollowness rings painfully in our ears.

Something--either a desire for monumental self-glorification or a failure to comprehend the full scope of university needs--makes philanthropists give magnificent edifices at times when institutions can best employ funds in other, less ostentatious ways. For increase in the general operating funds universities must look chiefly to small donors, though occasionally their contribution is overshadowed by large unrestricted gifts. Eventually, we hope, more men of great wealth will spend less lavishly and more wisely. In the meanwhile small contributors need not be abashed or deterred by external signs of wealth; their money in class endowment and alumni funds is the backbone of the university's current operations. --Cornell Sun.