to the people and climate, will become a still more valuable auxiliary. Thus we see, that the reasonable endowment of the Oahu College will be a good use of money for the upbuilding of Christ's kingdom at the Sandwich Islands, and for extending that kingdom through the islands of the great ocean beyond. _Funds and Buildings of the College._ The value of the property now belonging to the Oahu College, derived chiefly through the American Board, is estimated as follows: Three hundred acres of land, $9,000 College building, two stories, 7,000 Two dwelling houses, 6,000 Twelve lodging rooms, 2,000 Dining room, kitchen, etc., 1,000 Out-houses, 500 Farming implements, herds, etc., 1,500 ------- Total, $27,000 The land on which the buildings stand has an excellent and valuable spring of water, sufficient to irrigate it. There are one hundred acres in this lot, all enclosed by a good stone wall, and in part under cultivation. Another hundred acres adjoining, is also enclosed with a stone wall, and is devoted to pasturage. Another hundred acres of woodland lies about two miles distant. The buildings will suffice for the present. An observer, familiar with the college edifices of the United States, may hardly be able to recognize a _College_ in what he sees at Punahou. But what there is surpasses what were the _visible beginnings_ of either Harvard, or Yale. Until the present time, moreover, there has been only a preparatory school. The first college class, and that a small one, commences the present year. A number of young men, once at Punahou, who would perhaps have been in the College had there been one, are at Williams, Yale, or some other of our American Colleges. Some have completed their preparations for life's business, and are preachers, missionaries, merchants, or connected with the government of the Islands. _The Endowment._ The cost of living at the Sandwich Islands has been materially increased by the settlement and mines of California. Just at present, it may not be easy to bring the expenses of a family at Punahou within the bounds recommended for the salaries of the officers of College. The arrangement for salaries should be based, however, on what we know to be the general course of things in the world. Fifteen hundred dollars, with the use of a house, is thought not to be too large a salary for the President of the Oahu College; and twelve hundred dollars, with the use of a house, for a Professor. The American Board will pay these two salaries for the years 1856 and 1857.