£25,000,000 GIFT

Hokitika Guardian, 26 February 1920, Page 3

£25,000,000 GIFT

Jill JOHN I). ROCKFELLER BREAKS A RECORD. NEW YORK, December 29

All the United States is discussing tile mammoth Christmas gift of SIOO,000,000 —at the present rate of exchange more than £25,000,000 —announced by Mr John I). Rockfeller, the oil king. The gift is divided into two equal parts, £12,500,000 going to the General Educations Board and £12,500,000 to the Rockfeller Foundation It is the largest sum of money ever given at one time to philanthropy and brings the total amount of Mr Rockefeller’s donations to £103,000,000. In connection with the gift all the newspapers recall Mr Rockefeller’s maxim : “Make as much money as you can, keep as much as you can, give away as much as you call.” The oil king started donations in 1855, when by dint of careful saving he managed to contribute 22s in 5 months to church collections. AVFJIJL-BEING OF MANKIND.

The stupendous donation now announced is to be devoted to two purposes: (1) To “some plan of increasing the salaries of the teaching staffs of ! colleges and universities in the United States”: (2) to the promotion of the objects of the Rockefeller Foundationwhich are defined as the “well-being of mankind throughout the world.” The salaries, of the teaching staffs in the country have not yet shared in the increased salaries to meet the phenomenal rise in the cost of living, tnud though some institutions like Harvard University have approximately doubled the incomes of tbeir professors, it remains a. common saying that the janitor in a school receives more pay than the teacher. Mi" Rockefeller desires that this state of things be remedied.

In the disposition of its share of tile gift the Rockefeller Institute is granted a- free hand, though the donor expresses a desire that “any part of it” shall be used to promote medical education in Canada. The institute announced that £1,250,000 will be set aside for this object.