2

Rents, about $3,450.
Entrance-charges (Matriculation fee to), about 5,750.
Charges for Diplomas, say about 250.
Miscellaneous sources, say about 200.
$9,630.

Thus it appears, that even with the annuity of $15,000, there
will be a deficit, with the present number of students, of $3,550, which
must be made up by limiting the expenditures, (necessary though
they be), on some of the items that will best bear temporary diminution,
e.g Repairs, Library, Insurance &c. until the increase of students shall
bring the revenue to the required standard.

There is but one other way, besides a State appropriation,
to maintain the University, and that in to assess an additional charge
on each student, sufficient to raise the amount required, i.e with the
number now here, about $65 a head! So oppression an addition to
the expense would diminish the number of students, which would
necessitate a still heavier burden, until, after perhaps some sick-
ening fluctuations of future, the Institution must sink into
irretrievable ruin.

Arguments in favour of Continuing the Annuity.
The argument involves several topics, of which
some of the most prominent only, will be refered to.
First: The usefulness of the University as the Principal Education-
al establishment of the Commonwealth.

No intelligent citizen of the State who is old enough to recollect
what the condition of education was in Virginia 40 years ago, and
will compare it with what it is now, can fail to acknowledge the wonder-
ful improvement & advance which has taken place, nor it is belie-
ved, will any one deny that the University was the [source?] & [Spring?]
whence it proceeded. Schools and Colleges have alike felt the health-
ful influence it excited and impact now an [instruction?] immea-
surably superior in Kind & in degree, to that which formerly was