54 
A Study of Student Loans and 
nation of political knowledge. The other three fourths AECD which 
should be supported by society and the Student should be devoted to the 
dissemination of learning, excepting a small portion YTD, which should 
go toward the advancement of learning. We admit here that an arbitrary 
Start is being made, but only such an arbitrary start as can be readjusted. 
If, as our information on the subject increases and experiments warrant, 
too large a portion of the intellectual endeavor is being given to any one 
of the purposes, the lines FH or RK or both can be shifted. This also 
applies tö the other lines: AD can be moved at its A end towards F or 
towards E and ED can be moved at its E end towards A or towards B. 
As it is found necessary to give more attention to the different purposes, 
a new proportion of the field of intellectual endeavor can be assigned to 
them, and as it is found more advisable to give more attention to advance 
ment of learning or dissemination of learning, the line XY may be 
shifted, and, as such shifts are made, the three major sources of income 
should be tapped proportionately. 
Reasons for Such Allocations 
The question which arises here is why these proportions are taken 
as a basis. The reasons are, first, that the proportions are not meant to 
be fixed, but adjustable, and so can be adapted to changing circumstances 
and the type of the institution and thus form a permanent basis for policy 
and action. Second, these proportions as represented are believed to be 
fair approximations of ideal conditions and in fact approach existing 
conditions in some institutions. Advancement of learning has been given 
mainly to philanthropy, since, if left to the individual, little progress could 
be made because of the increased cost of the development of information 
due to actual cost of apparatus and salaries, and also, because as our 
society becomes more complex, there are more fields that require intel 
lectual attention and inquiry. In a more intricate society, methods of 
inquiry become more costly and therefore more money must be spent 
to obtain accurate knowledge. 25 The share of society has been assigned 
mostly to the dissemination of learning since society cannot always be 
relied upon to promote the advancement of learning where social and 
economic factors are pitted against each other in rivalry and such rivalry 
25 W. C. Mitchell in “Quantitative Analysis in Economic Theory” American Economic 
Review, March 1925, p. 2, in speaking of the increased cost of the acqui'sition of economic, knowl 
edge (and it should be true of any other fields, especially those with a political purpose) says in part: 
“* * * prospects are improving. One of the chief obstacles in the way of quanti 
tative analysis in economics has been the heavy bürden of routine labor involved. A quali 
tative worker requires hardly any equipment beyond a few books and hardly any helper except 
a typist. A quantitative worker needs often a Statistical laboratory, a corps of Computers, 
and sometimes a staff of field workers. Few economists command. such resources. But of 
late the endowment of economic research has begun on a scale which reduced this handicap 
upon quantitative research and promises to reduce it further in the future.”