2.
288
For the development of the Faculty of Arts a capital
sum of $1,113,000 is required. From this figure the cost of
new buildings and equipment is excluded. These needs are dealt
with under the general heading "Buildings".
The capital sum required for new buildings including
two new hos tels and new residences for members of the staff is
roughly $3,000,000, and the additional capital sum required to
enable the University Administration to cope effectively with
the University's extended activities is $500,000.
If the influence of this University is to be extended
additional scholarships tenable at the University are required.
The estimated additional cost of the new scholarships, which
should, I suggest, be called "George V Scholarships", is com-
puted at the capital sum of $2,080,000.
Under the head "Scholarships" the creation of certain
post graduate scholarships tenable by graduates of the Univer-
sity in Great Britain has been suggested. This would involve
an additional sum of £100,000.
Thus the total amount suggested
for scholarships is roughly $3,000,000.
The improvement of the University Library requires an
additional capital sum of $400,000.
Thus, the total estimated cost of the development and
extension contemplated would be about $12,040,000 or roughly
21,404,000.
Should this general scheme of development and extension
be considered as beyond the limits within which funds from the