Administration of Charles Elisha Taylor, 1884-1905 255
established for all time. President Taylor, however, warned that with
the growing needs of the College a much larger endowment would be
needed.
Already, in another chapter, some account has been given of
President Taylor's work for endowment, and what is said there need
not be repeated here. It is proper, however, to note his wisdom in
impressing on the Trustees and the Baptists of the State the need of
constantly increasing productive investments for the College if it was
to do a proper service to its constituency. After having in previous
years raised the endowment fund to $100,000, and later obtaining
from Mr. Bostwick Standard Oil Stock of a par value of $10,000 for
establishing the Bostwick Loan Fund, and a year later securing Mr.
Bostwick's princely gift of fifty thousand dollars for the endowment,
he disturbed the satisfaction of the Trustees by telling them in his
report in June, 1887, that the College was still poor and poorly
equipped for its great work, and he was proposing to make an earnest
endeavor in the next few years to raise $100,000 in the state and
another $100,000 outside. The following quotations from his various
reports will indicate something of his wisdom and zeal in this great
work of making Wake Forest a good institution:
The law of survival of the fittest rigidly applies to all institutions of learning. In
order to retain patronage, we must increase prestige. Unless we can continue to
furnish equal facilities for education with those offered by competing institutions
our Baptist young men will go, and shall I say ought to go,
elsewhere.12
The College is still poor in proportion to the great work which it has to do. In the
near future a distinct Chair of English should be established. A Biological
Laboratory and Museum should be created at an early day, if we mean to keep our
Baptist young men at our own Institution and under our own influences we must
prepare ourselves. In view of the increase of competition we should give more
indulgence to those who come from our poorer families. And besides we must be
getting ready financially, as we are already doing in other respects, for the abolition
of sub-collegiate classes. In view of these and other considerations I believe that we
will be wise and discerning both of our own times and of the future if we make an
earnest endeavor within the
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12
Report of President, June 8, 1886. Proceedings, 309.
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