Re: Pricing of Journals

On 01/22/99, Albert Henderson <noblestation[_at_]compuserve.com> wrote:
>
> In the New York Times (Oct 21, 1998:B9) Karen W. Arenson reports that
> wealthy universities are beginning to loosen their purse strings as
> endowments soar. Why don't they restore their library collections?
>
> In constant dollars, endowments of 71 research universities doubled
> between 1986 and 1997 -- nine years. Their library collections and
> educational programs did not do anywhere near as well, did they?

     Well the endowments have certainly grown. It would have been criminal if they had not in the current investment environment. If you count their growth as income, then I guess the Universities are hoarding that income. However, since the endowed funds in my School are all in scholarship funds (except for one small $25,000) account whose earnings may be expended in an unrestricted manner, and I can't touch the growing principle, only the increased earnings, and those only for the purposes for which they were originally contributed, we just increase the size of the scholarships when we can. It is just unclear to me where I get these endowment dollars to buy books.

                                      BRB

Bert R. Boyce, Professor & Dean
School of Library & Information Science
Louisiana State University
267 Coates Hall
Baton Rouge, LA 70803

     (225)388-3158
FAX: (225)388-4581
LSBOYC[_at_]LSUVM.sncc.lsu.edu Received on Mon Jan 25 1999 - 17:05:40 GMT