Emphasizing the moral problems facing individual students because of the war, President Conant said, "In this as in preceding wars, it seems that able bodied young men as yet untrained as specialists must largely determine their own futures.

"The decision is a difficult and trying one for a young men to make. But each individual must make it for himself, for he will have to live with himself and face the consequences of he decision for the remainder of his days.

"The question of whether or not he can be of greater service by volunteering for active duty, or by taking another path, can only be settled by each person for himself--settled on the basis of the best evidence he can command and in the light of his own convictions.

College Should Not Advise

"Until the government alters its present policy, the duty of the College at all its students, as I see it, is to give them the maximum of information and the minimum of advice."

Looking into the future of the country's colleges, President Conant predicted that they will pass through a period of greatly curtailed enrollment and extreme financial difficulty.

In this connection he stated that the cardinal principle of the university's budgetary policy must be the protection not primarily of its invested Capital nor its plant, but of the "first asset of a university," its faculty