If the Trustees had stopped to check the record of the College as
they were meeting at the Commencement of 1930, they might have
found that in the three years of President Gaines's administration the
College had made progress in several ways. The wrangle over
evolution had subsided and no longer disturbed the peace of any
element among the Baptists of the State, who, if they remembered it
at all, thought of it as a horrible nightmare; once again they were
united in their affection for the College. A new generation of alumni
and friends was taking the place of the old. Too much of their interest
perhaps was absorbed in athletics, especially intercollegiate contests,
in coaches and football teams. Financially, the Bursar's reports
showed that there had been some progress, even though the
depression was already showing its effects. In the year 1926-27, the
last of the former administration, the income "for strictly educational
purposes" was $217,000; in 1929-30 it had grown to $238,725;
additional income for purposes not strictly educational, such as
athletics and ministerial education, in 1926-27 was $13,610, making a
total of $230,610; in 1929-30 there was an increase in these totals to
$26,210 and $264,935. The increase was due to the endowment
revenues, which had grown from $120,000 to $149,000, more than
counterbalancing some losses in tuition and matriculation fees. The
salaries of full professors were now budgeted at $3,500 instead of
$3,300 in 1926-27. Relatively, however, Wake Forest was falling
more and more behind the other institutions of the State; it was losing
students while other institutions were gaining more and more year by
year, and loss of students meant loss of income. There were several
other College matters of major concern to the Trustees in June, 1930.
One of these was the standardizing of the School of Law; another was
the management of
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