The resolution of the Board of Visitors is intended, if possible, to eradicate this evil. The student’s expenses now must be known to his parents and guardians, or they must give their express consent to his obtaining credit. If he shall be still extravagant, the responsibility must rest with him and his parents; we shall have done our duty. But we hope, most sincerely, that you will keep in view both your own and the college interests in this particular. Strict economy on the part of the student at college is a great virtue. Let each one remember that the money which he spends here has not been wrung from his brow, but from that of another. Liberality with that which is mine may be generous, but with that which is another’s, is often selfish and culpable. I beg you to reflect upon the consequences of extravagance while here: it leads the student into idle, dissipated habits, and defeats the great purposes for which he has entered our institution; it blights his future prospects, and draws down upon him the displeasure of his parents. But, above all, gentlemen, let me bid you remember that which must always move the generous heart of youth. Your extravagance here extends beyond yourselves; it may reach your innocent brothers and sisters—your parents may become disgusted, or their resources may be contracted, and a Bacon or a Newton may be made to follow the plough, because the thoughtless, prodigal son has gone before them. And thus may it be affirmed, but too truly, that every increase of collegiate expense necessarily inflicts an injury on the great cause of science and education. There may be those whose ample resources may place them far above the necessity of strict economy. To them I would say, that it is selfish, or thoughtless at least, to indulge, before those with whom they must associate, in a style of expenditure which they cannot imitate without ruin to themselves and their parents. Liberality, under such circumstances, ceases to be generous—it becomes a species of selfish ostentation, which reflects no credit on him who displays it, and does great injury to his associates. To every one of you, then, let me recommend rigid economy, and you may be sure of reaping your reward in more steady habits, increased diligence, and a more perfect preparation for the great theatre of life on which you expect to enter.