Colby Bicentennial Seal 1813-1863

June 26, 1900

scroll icon

Do not bank too much on the future

Your Committee on Finance are not pessimistically inclined but are compelled to say that they are filled with apprehension at our present financial situation.

During the past year the College has expended for current expense $14,405.54 over and above its net income, and in addition to this has expended in repairs, improvements and support of Coburn Classical Institute all the gifts to the general fund of the college account some $5,000, thus drawing from the College endowment some $20,000. It needs no words from us to emphasize the situation. The figures speak for themselves. …

It is not enough that we hope to replace them; that is the argument of every defaulter. We should not bank too much on the future.