Their Relation to Higher Educational Finance 
21 
a training which would bear directly on his economic progress. The eco 
nomic advantage of such an education began to be stressed and along with 
this idea developed the Professional schools. The outcome was that many 
of the universities established Professional schools beyond those of medicine 
and law, and there developed schools of journalism and schools of business 
and the old divisions of law, and medicine, were looked upon as having an 
economic value to the individual as well as to the state. 
With the various purposes for training coming into existence and with 
the realization of the economic advantage to be derived from a College edu 
cation, increased funds were made available to institutions both by 
States and 'by individuals. The establishing of professorships and the 
giving of funds for the construction of buildings, as monuments to indi 
viduals, and fields of economic endeavor became prevalent. Higher educa 
tion now became one of the greatest recipients of charity, with the result 
that today it has a vast permanent endowment and philanthropy still bears 
the major portion of the cost of advanced training. 9 
Financial Support and Purposes 
Throughout the entire development of higher education we find that 
the purpose for which it existed and its sources of financial support were 
closely related. A view of the present Situation reveals the same fact. 
It may be concluded that the reasons for the existence and liberal support 
of these institutions are three in number. 
1. Cultural—which includes the religious or spiritual purpose and also em- 
braces the advancement of knowledge in unremunerative fields. 
2. Political—which is generally explained as the training for citizenship. It 
should be noted that education for culture also bears directly on the train 
ing for citizenship. 
3. Economic—which includes the advancement and dissemination of knowledge 
for the purpose of Controlling the material environment of humanity so as 
to bring the greatest amount of comfort and happiness possible, and that the 
individual may be able to command more wealth. 10 
The above Classification is not necessarily listed in order of import- 
ance, but in historical sequence. 
These three purposes are now so closely interrelated that an attempt 
to assign separate values to each is difficult and perhaps futile. If it were 
possible to conclude that support and purpose bear absolute relationships, 
it would then be possible to determine the part the different purposes play 
in the carrying out of higher education, for the proportion of support 
which each source furnishes can and will be determined. 
9 Sears, Op. Cit., p. 108. 
10 This is reflected in the large sums of money set aside for research in the physical as well 
as the social Sciences.