CHAIR OF ECONOMICS.

Dominion, Volume 7, Issue 2011, 19 March 1914, Page 6

CHAIR OF ECONOMICS.

DISCUSSED BY THE COLLEGE COUNCIL. Divided opinions. Some discussion took place at last night's meeting of tlio Victoria College Council regaruing the offer of £20l)0 from the lUncartny Trustos for the purpose of establishing a Chair of inimics. The Finance and General Purposes Committee, which had been dealing with the oiler, asked "for an extension of time lor the consideration of tho question of linanco as alfecting any proposal to be submitted to tho trustees." Sir Robert Stout thought there had already been too much delay in connection with the matter. They had received the offer in December, and hero it was March, and nothing had been decided upon. In his opinion, they should write to tho trustees, and accept tho offer. How did they know ■ that it would not bo withdrawn when there'were such clamorous demands . upon the trustees from other quarters ? The Hon. A. L. Herdman considered that no harm could come from granting tho.extension of time. It would, he said, bo useless to establish a Chair of Economics unless the council could raisea sufficient fund to pay a suitable man. Ho suggested that this sum of £2000, with what could be obtained from the Government miglft be used to set up a Macarthy Library if that would meet tho wishes of the trustees. As regarded the offer being withdrawn, he could say there was no chance of that. They wero all agreed upon the desirability of establishing a Chair of Economics, but he objected to tho council being committed in/haste .to any schemo that might afterwards make it look ridiculous. Mr. C. B. Morison, K.C., as. a member of the Finance Committee, oxplained that the committee realised the need of a Chair of Economics, but as a professor could not bo appointed this year, it was thought that it would bo better to wait until ho end of the financial .year, which was not far off, to find out what the financial position was. Dr. Prendergast Knight pointed out that it would require some £12,000 or £14,000 to placo the scheme on a proper footing. Mr. T. It. Fleming said that Mr. Morison had fairly stated the committee's position. Ho added that since tho last meeting they had heard something further from the Government. Sir Robert Stout could not see tho necessity of any further delay in communicating with, tho trustees if they wore all agreed that a Chair of Economics should be established. He therefore moved: "That tho Macarthy Trustees bo informed that the council think that tho proposed gift should bo utilised for the' purpose of teaching economics, and that a Chair of Economics bo founded, and Mr. Macarthy's na*ne bo associated therewith. "'That if tho trustees agree to this proposal tho Finance Comntittce furnish details of how the scheme may bo carried out." Mr. Morison was quito willing .to fall in with this suggestion, and he seconded the motion. Mr. Fleming said he would oppose tho motion at tho present time, although he <lid not altogether oppose tho 'idea contained therein. The ..committee might submit a' siniihr recommendation in a month's time. Tho Hon. A. L. Hcrdman also opposed the motion on the ground that if it were passed now tho council would bo absolutely committed to tho establishment of a Chair of Economics, oven if 'tho carrying out of such a scliemo wero to send it to the Bankruptcy Court! On being put to the meeting the motion wa.3 defeated, tho voting being:— Ayes: Sir Robert Stout and Mr. C. B. Morison. Noes: The Hon. A. L. Herdman, Dr. Prendergast Knight, Dr. Hector, Mr. W. H. Morton, Mr. T. R, Fleming, and tho chairman (Mr. R. M'Nab). Tho comniittee was then granted tho extension of time asked for.