[12] Perhaps I had better mention the adjustments by which these results have been reached. When a man has been in college during only the closing years of the course, I assume that he would have lived at the same rate had he been here throughout it. I have added $150 for persons who board at home, and another hundred for those who lodge there. Though I asked to have the expenses of Class Day and the summer vacations omitted, in some instances I have reason to suspect that they are included; but of course I have been obliged to let the error remain, and I have never deducted the money which students often say they expect to recover at graduation by the sale of furniture and other goods. There is a noticeable tendency to larger outlay as the years advance. Some students attribute this to the greater cost of the studies of the later years, to the more expensive books and the laboratory charges; others, to societies and subscriptions; others, to enlarged acquaintance with opportunities for spending. [13] For the sake of lucidity, I keep the expense account and the income account distinct. For example, a man reports that he has spent $700 a year, winning each year a scholarship of $200, and earning by tutoring $100, and $50 by some other means. The balance against him is only $350 a year; but I have included him in the group of $700 spenders. XII A TEACHER OF THE OLDEN TIME