56 



Indiana University Studies 



to the expenditure of money which control in other departments the actual cost 

 of athletics would be greatly reduced. Some believe that this saving would amount 

 to 50 per cent of the total sum expended. No one doubts that the saving 

 would be considerable. This statement does not imply that at present there 

 is any gross mismanagement. It means simply that with the elimination of 

 certain rivalries, the strict control of expenses, the more definite knowledge of 

 resources, a real improvement could be effected in the financial administration of 

 the work. When it is recalled that the amount now expended in the case of 

 single institutions ranges from $25,000 a year to more than $100,000, it can 

 easily be understood that, at all events, there is a field for the practice of economy. 



1. What does the paragraph say might be one effect of endowing college 

 athletics? 



2. How much saving might be made? 



3. What three things are mentioned as possible helps in improving the 

 management of athletics? 



Read this and then write the answers to questions 4 and 5. All ques- 

 tions must be answered from the paragraph. Read the paragraph as often 

 as you need to. 



We often think of a rich man as one vjho has much 7noney, as if money and 

 wealth meant the same thing. However, money is only one sort of wealth and 

 some money is not exactly wealth. A twenty-dollar bill, for example, is only 

 someone's promise to pay so much gold. Wealth means land, houses, food, 

 clothes, jewels, tools, gold, silver, coal, iron, — anything that a man can have 

 that satisfies some want. Money means soynething which a person can ex- 

 change for any one of many sorts of wealth. The main value of any piece of 

 wealth, such as a barrel of flour, a house, or a coiv is the direct use you can make 

 of it. The value it has by reason of what you can change it for is of less import- 

 ance. The main value of any piece of money, such as a silver dollar, a ten-dollar 

 bill, or a nickel, is NOT any direct use you can make of it. Its main value is 

 that you can exchange it for something that is of direct use. For this reason, 

 it is called a medium of exchange^' . 



4. In what does the main value of wealth lie? 



5. In what does the main value of money lie? 



For the successful administration of these tests, the directions 

 on the next page should be followed. 



11. These tests and directions are now for sale by the Northwestern School Supply 

 Company of MinneapoUs and may be ordered thru the Bureau of Cocjperative Research 

 of the University of Minnesota. These are included in this bulletin as originally printed, 

 except for a few changes by the author. 



