Last Years of Wingate's Administration, 1870-79 139
1890-1900, it was not more than five dollars. "When we consider the
peculiar stringency of our financial condition," said President
Wingate in his annual report to the Board of Trustees, June 20, 1871,
"and the large number who have been compelled to cut short their
course of study, we regard it as specially fortunate that such favorable
results have attended these efforts to cheapen the cost of collegiate
education. May we not hope that many who have hitherto been
prevented will now find it in their power to secure this invaluable
boon?" Table board in private families was $2.50 to $3.00 a week.15
The cold hard fact, however, was that in this period many North
Carolina young men who yearned for an education had no money to
pay for it and could not get it. Their fathers had no money; their
relatives had none; they were unable to borrow. Money was scarce;
there were very few wealthy men; in many counties there was no
bank. Realizing all these things in his own experience, in the fall term
of 1875, Mr. J. W. Denmark, who in some way had contrived to enter
the College, led in the organization of the North Carolina Baptist
Students Aid Fund, now called the Denmark Loan Fund, perhaps the
first of its kind in the United States, which has aided hundreds of
worthy young men in paying their way through college. A fuller
account of it will be found in the chapter that immediately follows
Another means by which it was hoped to lower the cost of educa-
tion and enable a greater number to come to the College was en-
dowment. The great supporter of this view was Professor Charles E.
Taylor. "We need to have a people's college for the masses of our
Baptist youth . . . and to do this there must be ample endowment to
lessen the price of tuition." And he expressed the determination to
press on for endowment unremittingly until the goal was reached,
when he hoped to see Wake Forest College have not 100 but 500
The Board of Trustees shared the view and pledged
themselves to reduce the tuition fee as fast as the increase of
endowment would permit, $5 with the com-
College catalogue for 1871-72.
16 Biblical Recorder, April 15, 26, 1876.
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