04 ROYAL SOCIETY OF CANADA 



university authorities, there have been totally alienated in current ex- 

 penditure and losses £166,319 lis. 3d., leaving a balance of £170,611 

 8s. Od. These assets stand rated at the figures representing their 

 original cost as introduced into the accounts. The present value of 

 some of them is, no doubt, greater than the cost, but that of others 

 must be correspondingl}' less." 



This statement does not include lands unsold, largely under lease, 

 88,97414 acres. The statement of expenditure and income shows the 

 true fiscal position of the university during the last seven yeaxs 

 (i.e., during the jDeriod of actual operation): during that period the 

 total income was £54,156 los 9d., and the total expenditure £73,489 

 8s 5d., showing a deficit of £19,333 14s 8d. Of the expenditure out 

 of the capital, £75,504 5s Od. is charged as a loan to Upper Canada 

 College, and £56,359 18s. 2d. to expense, which included the manage- 

 ment of the property. The acquisition of the university park is the 

 one bright spot in this report, and the commissioners evidently appre- 

 ciated the pi-ospeetive value of the property, and foreshadow the policy 

 Avhich has alread}' turned so large a part of it to commercial accoimt. 



After the session of 1851, Mr. Baldwin passed out of Parliament, 

 and ilr. Hincks became the Upper Canadian leader of the Government. 

 In the second session of his administration, he made another attempt 

 at the settlement of the university cjuestion by an amendment to the 

 charter. The model now taken was the London University, which 

 had already been before Parliament in the bills of Shenvood and W. H. 

 Boulton. The fundamental principle of ilr. Hincks' bill was the 

 withdrawal from the University of the work of teaching, all instruction 

 being relegated to separate but affiliated colleges. For this purpose. 

 University College was created a separate corporation, and the Faculty 

 of Arts transferred to it. To the University, represented by the Senate, 

 vras given the management of tlie endowment, the enactment of all 

 university statutes, and the functions of examination and of conferring 

 degrees. The faculties of law and medicine were discontinued, the 

 field being leftHo independent affiliated colleges. The characteristic 

 feature of this constitution Avas this scheme of affiliation under which 

 ail teaching was to be conducted. University College now a separate 

 corporation, provided for a full course in arts and was the first affili- 

 ated college. Other colleges in arts were invited to a similar affiliation, 

 I)ut without loss of their separate university i)owers. The privileges 

 of affiliation were representation on the Senate and admission of stu- 

 dents to examinations, and to competition for honours and scholarships. 

 If this latter privilege was accepted, it placed the control of the curri- 

 culum of all the affiliated colleges in the hands of the Senate; and 

 when to this was added the influence of examinations, it was evident 



