The magnitude of this beneficiary aid I doubt if people generally understand, and I have accordingly taken pains to ascertain what was the amount given away this year. I find that to undergraduates alone it was $36,000; to members of the graduate department, $11,000; and to the professional schools $6000: making in a single year a total of assistance to students of the University of more than $53,000. Next year this enormous sum will be increased $13,000 by the munificent bequest of Mr. Price Greenleaf. Fully to estimate the favorable position of the poor man at Harvard, we should take into account also the great opportunities for earning money through private tuition, through innumerable avenues of trade, and through writing for the public press. A large number of my correspondents tell of money earned outside their scholarships.[13] These immense aids provided for our students maintain a balance of conditions here, and enable even the poorest to obtain a Harvard education. And what an education it is; how broad and deep and individually stimulating,--the most truly American education which the continent affords! But I have no need to eulogize it. It has already entered into the very structure of you who listen. Let me rather close with two pieces of advice. The first shall be to parents. Give your son a competent allowance when you send him to Harvard, and oblige him to stick to it. To learn calculation will contribute as much to his equipment for life as any elective study he can pursue; and calculation he will not learn unless, after a little experience, you tell him precisely what sum he is to receive. If in a haphazard way you pour $2000 into his pocket, then in an equally haphazard way $2000 will come out. Whatever extravagance exists at Harvard to-day is the fault of you foolish parents. The college, as a college, cannot stop extravagance. It cannot take away a thousand dollars from your son and tell him--what would be perfectly true--that he will be better off with the remaining thousand; that you must do yourselves. And if you ask, "What is a competent allowance?" out of what my correspondents say I will frame you five answers. If your son is something of an artist in economy, he may live here on $600, or less; he will require to be an artist to accomplish it. If he will live closely, carefully, yet with full regard to all that is required, he may do so, with nearly half his class, on not more than $800. If you wish him to live at ease and to obtain the many refinements which money will purchase, give him $1000. Indeed, if I were a very rich man, and had a boy whose character I could trust, so that I could be sure that all he laid out would be laid out wisely, I might add $200 more, for the purchase of books and other appliances of delicate culture. But I should be sure that every dollar I gave him over $1200 would be a dollar of danger.