Legal and Economic Bases of Colonial Teaching Universities. 89 



Otago, the rent of the reserves amounts to £5,500 on one account,, 

 while incidental rents and royalties make up another £1,000, the 

 Church Board of Property supplies £1,800, and there are scholar- 

 ship funds producing £2,866. Canterbury has a capital account of 

 £30,000 derived largely from similar sources, and the rent of the 

 reserves amounts to £8,750. Auckland and Victoria Colleges are 

 younger, and their land reserves are not yet so largely rent- 

 producing, but the former college derives £866 from this source, 

 with a statutory grant of £4,000, while the latter college enjoys a 

 statutory grant of £3,800. 



Of the incidental sources of income it is not necessary to take 

 account here, as they are naturally such as are found in similar 

 institutions the world over; the point we desire to make clear being 

 that, whatever may have been accomplished by private enterprise, 

 the respective Governments have realised that their duty Avas to 

 foster true University life and teaching, which are so essential to the 

 advancement of a Colony, and have acted upon the principle that 

 the assets of the country in the shape of lands could nowhere be 

 better invested than in the production of those forces which make 

 for the advanced culture of the people. 



South Australia has supported this view by a grant of 50,000 

 acres of waste land to the University of Adelaide, not perhaps of 

 great value per acre, but standing at present on the books of the 

 University at £55,000, and producing an income of £2,776 per 

 annum. The Adelaide University has been, as deserving institutions 

 of this nature usually are, fortunate in its private benefactors. The 

 first sum of £20,000 to which we previously referred, has since been 

 increased to £134,000, and stability is given to this by a provision 

 made in the original constitution of the University that the Govern- 

 ment should in perpetuity give a 5 per cent, subsidy as interest on 

 such endowments up to the sum of £10,000 per annum. The 

 amount derived from this source, according to the last report on 

 which I have been able to place my hand, is £6,339. A valuable 

 site of five acres for buildings in a convenient position in the city has 

 to be added to the pledges of the Government interest in the work 

 and objects of the University. 



We cannot take each University and deal with it separately, but 

 we may state in passing that the University of Melbourne receives 

 £9,000 per annum from Government endowments, and a sum of 

 about £4,500 additional has more recently been added. 



The University of Sydney presents an object-lesson which may be 

 regarded as specially valuable. The original statutory endowment 

 was the sum of £5,000 per annum, to which has since been added 



