Contributions-Wait Agent 243
therefore the subscription as a whole failed. The work of Wait as
agent for two years and the enthusiastic campaign of McNabb
seemingly went for naught according to the express terms of the
bonds made. Probably because of this failure Wait was overwhelmed
with discouragement, and at this meeting offered his resignation as
president of the College. The response had not been such as he hoped;
knowing the weakening friendship of certain men who had previously
been among the warmest and ablest supporters of the College, and
knowing that they had refused to cooperate at this crisis, he doubtless
had come to believe that it was best for the College that he resign the
presidency, which he did. At a meeting in Raleigh, November 26,
1844, the Trustees accepted the resignation to take effect in June,
It may be a matter of wonder that the Trustees kept up their
courage, but they did. Even this great and costly failure did not cause
them to despair. They immediately set about devising new plans to
free the College from debt. It is recorded that the Trustees were
Wait was continued as agent and William Jones
and Robert McNabb were asked to serve as agents unto November 26,
1844. This would indicate that the Board still had hope of completing
the subscription, or that they were hoping that if it were somewhere
near complete those who had made subscriptions would pay them.
These agents had two functions, one to get new subscriptions, the
other to make collections on the former
Statement in editorial report of the N. C. Baptist State Convention of 1844,
Raleigh. Biblical Recorder, October 26, 1844. Meredith did not seem to share this
Letter of N. J. Palmer in Biblical Recorder of August 16, 1845, with reference
to the visit of J. J. James, to the western part of the State: "While the principal
object of Brother James will be to subserve the interests of the North Carolina State
Convention, and endeavor to awaken a more general interest in its behalf, he will
also give some attention to the interests of Wake Forest College, by receiving
subscriptions in its behalf and payments on subscriptions heretofore made to
Brother Wait."
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