CHAPTER XXIV. ROCKS, STORMS, AND PERIL--1868-1874

Difficulties and discouragements. Very serious character of some
of these. Financial difficulties; our approach, at times, to
ruin. Splendid gifts; their continuance, the ``Ostrander Elms'';
encouragement thus given. Difficulties arising from our Charter;
short time allowed us for opening the University, general plans
laid down for us. Advice, comments, etc., from friends and
enemies; remark of the Johns Hopkins trustees as to their freedom
from oppressive supervision and control; my envy of them. Large
expenditure demanded. Mr. Cornell's burdens. Installation of a
``Business Manager.'' My suspicion as to our finances. Mr.
Cornell's optimism. Discovery of a large debt; Mr. Cornell's
noble proposal; the debt cleared in fifteen minutes by four men.
Ultimate result of this subscription; worst calamities to Cornell
its greatest blessings; example of this in the founding of
fellowships and scholarships. Successful financial management
ever since. Financial difficulties arising from the burden of
the University lands on Mr. Cornell, and from his promotion of
local railways; his good reasons for undertaking these.
Entanglement of the University affairs with those of the State
and of Mr. Cornell. Narrow escape of the institution from a
fatal result. Judge Finch as an adviser; his extrication of the
University and of Mr. Cornell's family; interwoven interests
disentangled. Death of Mr. Cornell, December, 1875. My
depression at this period; refuge in historical work. Another
calamity. Munificence of John McGraw; interest shown in the
institution by his daughter; her relations to the University; her
death; her bequest; my misgivings as to our Charter; personal