Their Relation to Higher Educational Finance
21
a training which would bear directly on his economic progress. The economic
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 education,
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 individuals,
and fields of economic endeavor became prevalent. Higher education
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 embraces
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 training
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 importance,
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.
