Education: Millions & Michigan

A great shaking of heads among college presidents has greeted news of higher taxes. Anything which taps private fortunes taps potential endowments, and the presidents wonder if the millions will ever roll in again as they did in the 1920s. Last week the Manhattan publicity firm of John Price Jones, Inc., which manages many a money-raising campaign, figured out what Depression has already cost 31 rich U. S. universities and colleges. From a high of $74,456,326 in the academic year 1930-31, gifts fell off to $20,657,891 in 1933-34. During that four-year period, the...

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