CORNELL UNIVERSITY — HISTORY. 29 



nell assumed the responsibility of purchasing and loca- 

 ting the scrip at his own expense. In a letter to the 

 Comptroller, dated June 9th, 1866, Mr. Cornell says : 



' ' I shall most cheerfully accept your views so far as 

 to consent to place the entire profits to be derived from 

 the sale of lands to be located with the College Land 

 Scrip in the treasury of the State, if the State will re- 

 ceive the money as a separate fund from that which 

 may be derived from the sale of the scrip, and will keep 

 it permanently invested, and appropriate the proceeds 

 from the income thereof annually to the Cornell Uni- 

 versity, subject to the direction of the Trustees thereof, 

 for the general purposes of the said institution, and not 

 to hold it subject to the restrictions which the act of 

 Congress places upon the funds derived from the sale of 

 the College Land Scrip, or as a donation from the gov- 

 ernment of the United States, but as a donation from 

 Ezra Cornell to the Cornell University." 



This letter is of great importance in the history of 

 the University, especially in view of recent criticisms 

 upon the broadening of the courses of study beyond 

 those branches plainly indicated in the original act of 

 Congress. The State accepted Mr. Cornell's proposi- 

 tion, and now the greater part of the income of the Uni- 

 versity arises from the Cornell Endowment fund, which 

 is expressly stated not to be subject to the restrictions 

 of the act of Congress. This clearly giYes the Trustees 

 the right to use the income arising from this fund in 

 expanding the scope of the University in any way their 

 judgment may dictate. 



