President Announces Revision of Salaries
Greeted by an understanding and sym- pathetic spirit from the faculty audience that filled the faculty room of Parkhurst Hall, April 17, President Hopkins an- nounced that the Trustees of the College had recognized the inevitability of a fac- ulty salary revision at their meeting three days earlier, and that such reductions might be expected for the next college year. The President's talk came at the con- clusion of a regular monthly meeting of the faculty. That some program of re- trenchment for the coming year was antic- ipated by the faculty seemed apparent in view of the general knowledge eiistent of the serious state of Dartmouth finances.
The President explained in some detail the various points at which College income has been measurably reduced since 1929. He stated that every possible economy had already been made in that 25% of the Dartmouth budget in the category of "other expense" without invading the 75% devoted to "instructional and library" expenditures. With the great shrinkage of income from endowment there has been an increasingly pressing need for more scholarship aid and student loan funds. The prospect of continued unfavorable pressure in both of these important respects seems unavoidable. After reviewing the present accounts of the College carefully, and estimating upon probabilities for the future, the Trustees had decided, the President said, that no other course than a revision of salaries was open to them.
Faced with a large deficit this year, which even the loyal support of Alumni Fund contributors could not hope to meet, President Hopkins said that the Administration had determined that it was to the best interest of the College, and all concerned with it, that this year's large deficit be not followed by another larger one next year, thus imposing an intolerable burden upon the future of the College. It is his hope to balance the 1933-34 budget by reviewing all items of expense, including salaries, as the results of the current Alumni Fund campaign become known.
