THE HARVARD ANNEX 219 



Still if we do not live by bread alone, neither can 

 we live without it, and that brings me to the financial 

 question. You all know probably that some eighteen 

 months ago, feeling assured after a trial of four years 

 that our experiment deserved support, we appealed 

 to the public in its behalf and started a subscription 

 for an endowment fund of $100,000 with the purpose 

 of asking the Corporation of Harvard to take us under 

 its protection. This fund is not completed but con- 

 sidering the great difficulty of the times we have no 

 reason to be discouraged. About $70,000 has been 

 already subscribed; of this $62,000 and a balance 

 are already in the hands of our banker drawing good 

 interest. This is not a bad nest egg as it stands; and 

 had times been better, we had intended to come be- 

 fore the public again, to remind them that the last 

 stage of a journey is the longest and ask their further 

 help. I have little doubt that in ordinary times the 

 remaining $30,000 would have been forthcoming, 

 but just now one might as well cry for the moon as 

 ask for $30,000, and we are content to bide our time 

 till fortune's wheel makes another turn. 



Meanwhile the moderate sum which we raised at 

 first in order to try our experiment for four years has 

 carried us bravely through the fifth, and we have a 

 balance left with which to begin the work of next 

 year. 



By the next spring that of 1885 it had become evi- 

 dent that the elasticity of even 6 Appian Way could be 

 stretched no further, and that the Annex must seek less 



