FINANCE
"The most fertile source of charity, however, was the treasury of the Propagation of the Faith with its headquarters at Lyons, France. This society, which embodied the working principles of the sister of a seminarian at the Seminary of St. Sulpice, Miss Jaricot, who had formed a society a Lyons in 1820, for the support of the Seminary of the Foreign Missions, was organized in 1822 at Lyons, upon the petition of Bishop Dubourg of New Orleans. The Catholic missions wherever situated were to receive its alms." 1822
1841 On Hand, Aug. 5 $ 704 Received in N.Y. from Byerly $1040 Received from Bishop Hailandiere's agent $ 300
Expenses . . . Passage at Harve, kettles, plates $265 Sept. 14..In N.Y., clock, bell, sundries $ 34 Sept. 25..Trip to Niagara Falls $ 45 Oct. 1..Bought a gun for Rev. Martin $ 12 Oct. 11..Travel from N.Y. to Lafayette $204
Sorin's Memoranda December 25, Christmas collections $ 2.81 1/2 November to January -- Brother John repaired several watches which brought a few dollars. Sold . . "divers articles" Taxes, 1841-2 . . plus poll tax $ 16.20 Reduced to $14 (Paid Dec. 13, 1842)
Provincial Archives Received on leaving Le Mans, 3500 francs (1841) 1842-3 . . . Balance on hand $247 and $775 1841 . . . . Colony received in clothes, etc. $283.30 1843 . . . . Pupils at Ste. Croix gave $ 25.38 1843 . . . . Gifts for Colony $383.00 1843 . . . . Gifts at laying of cornerstone $297.00 From Propaganda; Sept. 1843 . . 9240 francs, November 1843 . . 5000 francs, January 1845 . . 4000 francs.
Due Mother House, April 2, 1845 1663.12 francs
Received of Notre Dame since foundation to June 17, 1846 including cash on hand at that time: 199,608.2 francs
Expense at Notre Dame since foundation 186,955.5 francs Notre Dame owns movables, provisions etc 75,453.5 francs Spent for buildings, clearing land, etc. 75,000.0 francs
"Prices twice as high in South Bend as at St. Peter's, building included. Says if they can't build at Notre Dame in brick at $5 per 1000 at least the first year, would live very decently even for an American college in wood, on a good cellar of stone, well plastered within." Sorin-Chartier, 1842
Moreau had from Propagation of Faith in 1842 . . . 2500 francs " " " " " " " 1843 . . . 14700 francs " " " " " " " 1844 . . . 15000 francs " " " " " " " 1845 . . . 12000 francs
April 11, 1844 -- Brothers of St. Joseph already have received two allocations.
After fire of 1849 grants of 6000 francs. Another allocation for Sorin 3500 francs ante January 5, 1849.
1847 -- 14,480 francs to Sorin (1842-1843, etc.)
"To Sorin, 7,000 francs. An extraordinary grant from collection made at Jubilee time . . . 5000 francs sent to Sorin to help foundation of Brothers' Novitiate. Hopes with development of Notre Dame it will become independent of Propaganda." 1853
"Sorin bought 200,000 bricks for $400. 'Our resources,' he wrote to Bishop de la Hailandiere, 'were the $500 you have just sent us, $117 that the Brothers brought from St. Peter's, 4,000 francs that Moreau sent us three weeks ago. On the $600 due on the farm bought at St. Peter's, $100 was paid, leaving a debt of $500, which I shall be obliged to pay with the money now on hand, if you do not believe you can do it with the $301 which you have -- the $100 at the bank is to be paid to Mr. Hayes as soon as possible although he promised to wait, and the $300 next August. Perhaps the land will be sold then. All the Brothers have arrived with very good luck traveling." 1843
Boarder's Ledger, 1843-1844 NAME ARRIVAL DEPARTED REMARKS Moses L'Tourneau Aug. 19, 1843 Lent, 1846 Became teacher in second year and thus paid for schooling Luke Murphy Sept. 1, 1843 Aug., 1845 Paid part of schooling F. McDonald Sept. 1, 1843 Dec., 1844 Worked for schooling M. Clarke Nov. 23, 1843 May 1, 1847 Paid $183.30 Alex Coquillard Not known About 6 months.Twelve to fourteen students entered from August to December, 1843. Twelve more in 1844.
Propagation of Faith allowed 17,000 francs to Notre Dame this year. 1844
"Two weeks after our disaster of the 23rd of April, 1879, I made a personal appeal to nearly 200 families indebted to Notre Dame, not from reduced terms, but from acknowledged accounts standing unpaid, due, many of them, of responsible and able persons, one of them having even a deposit of funds with our Treasurer here; I made said appeal as strong and moving as I could, for I knew it covered an amount of $75,000. Shall I say how much I received? Why not? We may all turn it to profit. I received twenty-two dollars." CIRCULAR LETER- SORIN, March 5, 1881
"The Council of Administration examines the cash book and finds a balance of 95 cents." 1845
"To pay off several debts, money shall be borrowed at 8%." Local Council, 1866
"Money to be borrowed at 10% for a reasonable time is allowed by the Council." Local Council
"The Council examined the Cash Book and found a balance of $1.57." Council of Administration, Oct. 14, 1845
"A summary of our debts was read by Fr. Granger and they were found to amount to at least $3,000." Council of Administration, 1846
"Brother Basil shall receive the money of those who might wish to see the museum of Mr. Bellefoi shall show the museum." Council of Administration, July 27, 1846
"The Council examined the Cash Book and found a balance of 28 cents." 1846
"Brother Lawrence shall go to South Bend in order to get money." Council of Administration, Aug. 10, 1846
"Brother Gatian may take a bench from the chapel for his class." Council of Administration, 1846
"Four fat pigs shall be bought if money can be found." Council of Administration, 1846
"For the future if, by a special dispensation, payment is not required in advance from our boarders, they shall be obliged to give a note at 60 or 90 days, with interest added." Council of Administration, 1847
"Seventy-five dollars shall be borrowed tomorrow by Brother Vincent in order to buy 1500 pounds of pork, 30 bushels of apples, and 5 bushels of oats." Council of Administration, 1847
"Council of Administration was abolished by Fr. Moreau's order, march 22, 1847." MINOR CHAPTER
Cash on hand 1431.71 In bank of Vincennes 50.00 Bank of N.Y. 123.00 Boarders owe 695.00
"Owed before Sorin's departure for France, $3,182, since $2861. Owed besides to Mother House..$500."
"Minister for Foreign Affairs made a gift of $600 in order to facilitate the passage of Sorin's numerous colony." 1847
"Decrease in debt since the last quarter: $12,712.91" GRANGER'S VISIT MINUTES, 1847
1908: Cash on hand $33,242.99 1911: Cash on hand $73,539.30 1912: Cash on hand $95,234.11
"The name of a church, to be erected under the title of the Sacred Heart of Jesus, will be immediately begun, and ended, if possible, this year; but the plan must not require a totalexpense of more than $1500, nor must we, according to that plan, expend in cash more than $500. The rest is to be taken in lime, brick and work of our own. Several members would not have consented to so high an expense if it had been that new stables are necessary and that the building which would not cost less than $300 may be saved by undoing the old church, or making some change in it, and so getting stables out of it. The excess of the expenses which will be required by the construction of the nave will be compensated by the gifts made to the superior for the purpose of building a church. The Major Council (France) allowed us to expend $1500 for the construction of a church." Local Council, Aug. 28, 1847
"It will then be sufficient to send to the Mother House the accounts the plans of the buildings, and other documents required by Rev. Fr. Rector (Moreau). In consequence, the different councillors will prosecute as fast as possible the different inventories.
Submitted Mother House:
1) That the receipts from the beginning of the foundation, August 5, 1841, until today have been 198,281.6 francs and expenses 196,955, leaving a balance of 1,326.6 in the treasury.
2) That credits (debts owed Notre Dame) and property for sale equal 42,184 francs; debts of Notre Dame 19,895 francs.
3) That movables designated in adjoining inventory amount to 75,453.5 francs." 1847
"Butter will be given every Friday as before, and Brother Lawrence will try to buy a few milk cows." Dec. 11, 1848
"Brother John, if possible, will go to our new land at Plymouth to make sugar." MINOR CHAPTER, Jan. 29, 1849
"Our sugar at Plymouth shall be made by the Indians." Jan. 29, 1849
" . . . examined the Cash Book and found a balance of 4 francs -- 75 cents." Jan 1, 1849
"Sorin after fire of 1849 couldn't leave college nor spare any of his faculty to seek aid elsewhere. Urging Baroux a young priest who had been ill for four months from lung fever contracted while attending a sick call at St. Joseph wrote: 'Mt. dear Confrere: I know your suffering and sickness, but I have no other priest to spare. Go (to France) and God bless you. If you do not go we will be obliged to send away all the boys we have here. Your answer will decide their fate.' Baroux went. Spent 15 months. Collected $3,700. Preached three or four times on Sunday." 1849
1847 1849
"Brother Bennet (Benoit) will make locks for sale." Local Council, Nov. 26
"The Minor Chapter resolved to send Fr. Baroux to France to make collection for the repairing of the heavy loss suffered by us in the fire of last November." LOCAL COUNCIL, December 13, 1847
Inventory: 1847
March 8, 1847 . . . . 100,000 bricks at $3 $300.00 300 bushels of lime 75.00
"Moreau says Barous collected 4000 francs for Notre Dame and that Moreau has obtained 6000 francs for Notre Dame from Propaganda." June 13, 1850
1850 -- 1851 College Receipt $4,056 " Expenses 3,000 " Due 2,400 ------ $3,456 May 1851 Debts $8,577.25 Credits 8,766.40 -------- $189.15 Joseph Zaehnly, in account with the University of Notre Dame du Lac. March 1 Board and Tuition, on session $37.50 Bed and bedding 1.50 " 13 Catechism .10 History, Arithmetic, Spelling .50 Grammer .47 1/2 Mrs. Herbert's conversations .50 Slates, ruler .15 1/2 Knife, fork, two spoons and tumbler .45 1/2 " 27 Small catechism and soap .08 Mending shoes, sand box .38 May 1 Primary Geography .37 1/2 " 16 Cash, Mending shoes .40 July 3 Stationary to this date 1.33 ------ $43.90
"No distinction shall henceforth be made in the accounts of the three societies, but all be put in common. The name of the society to which anything is given being only mentioned, so as to know in case of division what ought to be granted to each society." LOCAL COUNCIL, November 3, 1848
"Brother Stephen will start in a few days to make a collection for the purpose of partly repairing the losses occasioned by the fire at the Orphans' Home, the kitchen, shops, stables, etc." LOCAL COUNCIL, Nov. 19, 1849
Brother Lawrence bought of Albert Brooks, one horse . . . $45.00
Gave a note payable September 1, 1850 . . . $45.00
Harris' Livery:
One horse and buggy for three days $4.50
One buggy for two days, Jan. 25 1.50
UNIVERSITY ARCHIVES
Henry McNally By journey to Lafayette, two horses and self . . . $12.00 Twenty-five bushels of lime at 20 cents $5.00 Ten bushels of lime to be paid by lumber $2.001850
Feb. 14, 1850: Buy ten bushels potatoes for Brother Lawrence . . . $2.00 Feb. 15, 1850: Buy fare to Indianapolis . . . $6.00 Dr. McLain to make one head board and two coffins . . . $2.00 June 6, 1850: One coffin . . . $3.00 Digging grave . . . $ .75 Sept. 17, 1850: To Louis Malboef for $55.00 Received payment, (in)-one yoke cattle 35.00 one heifer 5.00 ----- A note due in April 15.00 ----- $55.00
Sept. 17 . . . Fr. Superior bought of Joseph Zeiger of Yellow River, an ox for $15. Gave in payment cash $5.00. Due bill in fall, $10.00.
Dec. 9 . . . To school for boys for five weeks at $1.60 a month . . . . $2.00
April 1 . . . Brother Stephen, by Stage fare to Niles and breakfast, 75 cents Detroit on cars $2.85.
May 10 . . . Mother House, By amount given this to close all accounts..$580.55
June 18 . . . Bishop of Vincennes, Cr. By amount collected for Jubilee and orphans . . . . . $43.16
1852 . . . W.F. Bulls, Credit, seven dozen eggs at 8 cents . . 56 cents, Notre Dame.
July 3 . . . Jacob Meyers, Dr. Coffin, $2. Hearse . . $1.00; grave digging . . $1.00; lot . . $4.00; services of chursh . . 50 cents for $9.50.
1853: T.J. Flanagan of Kentucky, Credit five sets encyclopedias . . . 720.00
From Waste Book, University Archives
1882: "The Committee on Accounts presented their report from which it was seen that whereas most of the Superiors, Directors and Pastors managed the business of their houses so well as to have a balance left from their receipts to turn over to the Provincial Treasurer."
Provincial Chapter's Minutes, 1886
"Establishment heavily in debt at this time. Prices extremely high. Wheat and corn double what they were. A financial crisis in the United States. Bankruptcies numerous; no one knew what notes to accept; payment of student's bills deferred, often collection impossible. Creditors never so insistent in their demands.
"Judge what must have been the feelings of the administrators of the Lake in such a threatening circumstance! After so much labor and expense public opinion (days of the know-nothings), at the rate at which it was going, would in some weeks destroy such a great work as Notre Dame. Unfortunately, it was only too evident that we were hastening with rapid strides to destruction with every moment, and that any day the most insignificant incident might cause alarm in such critical circumstances and create a panic among our creditors, boarders, and novices -- and that would be the last of Notre Dame."
SORIN CHRONICLES, 1856
"It was determined by mutual consent; first, that without ceasing to render reciprocal services in conformity with the Rules, they should divide the temporals of the two Societies as from September last, so that they should be completely separate for the future. Second, that all goods, be they bought or given, acquired up to this day will remain in common until all old debts be remitted. Finally, it was agreed by mutual consent to divide the assets and debts in such a manner that the Sisters received one third each. Fr. Moreau concluded his account of the meeting with: 'In spite of the attempts to upset this admirable understanding, all was arranged as at Saint Laurent in a most satisfactory way. How happy I was to see the grace of God triumph!"
FLAME IN THE WILDERNESS, page 138, 1857
TERMS: Annual charge for Board, Washing, Tuition in English course $125.00 Latin and Grammer 20.00 Spanish, Italian, French, German, (each) 12.00 Instruction in music 20.00 Bed and bedding 5.00 Entrance Fee 5.00
" . . . the spirit of determination which has been a foremost factor in the school from those old days, when Father Sorin, the founder, and five Brothers of Holy Cross made their way through the snow covered wilderness and took possession of the little abandoned log chapel which for years served the missionaries who had visited that part of the mid-west. There was a time when 'The village of Chicago' was spiritually served by the missionaries who lived at Notre Dame . . . There was a time when Father Sorin could not buy a badly needed ox because he had only 50 cents to his name." Paul R. Martin on "N.D. Spirit" in NEW YORK HEARLD-TRIBUNE, ALUMNUS, 7:140 Loans from Mother House . . . .
To N.D. 13,500 francs
To N.D. 5,072 francs
Moreau, Letter, No. 79, 1857
"Hardly had Moreau left the United States when financial crisis hit the Union Banks, closed 'in toto' by States. Best founded one bankrupt for millions. Depression caught everybody unaware. Notre Dame least prepared of all. . . . had a capital of property, without touching property of buildings of University, to cover debts, but couldn't sell without sacrificing half of its value." 1857
"Land of college mortgaged for 30,000 francs -- result of Bieman stupidity on carillon. Could be called at any moment. It was called as a result of the ruin of Messrs. Harpers, who received it in 1852. Nothing in treasury. Never were confidence and protection more necessary. Only a miracle could save us. In ordinary times debts were more than enough to worry about, but in a panic human prudence is of little avail. One of best in administration wanted to declare insolvency for four or five years. But such a move would not be well received by our ecclesiastical authorities, although it probably was the only one that could save Notre Dame; but it was rejected.
"Value of trials of this kind to a Community, vanity for riches of the world.
"Depression felt all over Community. Was worst in Philadelphia and Chicago."
CHICAGO: "Far from paying first installment of rent ($1000) they had to try to withdraw from an engagement which the Bishop made untenable by refusing to keep his promise. Schools of Brothers in too bad a way to make them go. The promise of collections and fairs was limited to the first year. Jesuits came to Chicago to build a college and church thereby destroying without wishing it, one of the principal objects of the Congregation by settling in Chicago.
"In all Notre Dame's difficulties, Divine Providence was our Helper. So visible as not to be mistaken. Community always implored that and grew more confident and fervent than it had been.
"God holds men's hearts in His hands and inclines them as He wishes. Here's a striking example: One of our neighbors, a rich Catholic farmer had at different times by sale or deposits of money obtained notes of Sorin for 60,000 francs. In July and several times later he declared he wanted his money in early autumn. Having no mortgage or other security than the honesty of the house, he became fearful in the depression and not willing to continue his loan. Early in November he came to demand the money and spoke rather severely as to his due. On November 19, Sorin sent him a Brother to tell him we had begun to repay the loan and that he had deposited 5,000 francs in the Bank of South Bend. Soon he hoped to pay 20,000 francs more. For the rest of the loan he would give mortgages and then get out of the debt. The German replied he didn't want any money, had no need of it, and would have put it elsewhere at interest or in a bank. But in banks he had no confidence and besides he preferred to leave it at Notre Dame until needed. Although not a gift, at a time when banks were failing, it was a real favor that a naturally suspicious German should refuse payment when he had no mortgage. Ordinarily, men don't act like that.
"Towards the end of the year, Father Lireque sent to France to secure vocations. Idea pleased Moreau who received him kindly and recommended him to several Breton bishops. In a few weeks he had picked up twenty-six young seminarians for Notre Dame. Then he went to Belgium and Germany." 1857
1857-1873 Bills payable $38,351.61 Inventory: Real estate on Congregation $162,850.00 Movable Property of all $48,090.97
1873: "The cash on hand was nothing." LOCAL COUNCIL, May 16
1877: "The unsatisfactory condition of our finances was discussed and it was resolved to retrench as far as possible all expenses, etc."
1860: "What has been for a long time checked its onward march is its floating debt, the interest on which absorbs all our profits." SORIN CHRONICLES
1860: "The value of Notre Dame in Dollars and Cents can hardly be set down; but if it were necessary to make a rough estimate it could be hardly less than $75,000." SORIN'S CHRONICLES
"Bought tools of A.W. King, Bertrand, for $89.90, but paid bill in Schooling." 1857
May 11, 1857 . . . Deficit of $1,165.33.
"Brother Vincent, January 5, 1857 . . . Can't sell land this year. If Notre Dame wants to borrow it has to pay 15%-18%. Reduced to absolute essentials for the time being; stopping all expenditures. Debt of $60,000 at Notre Dame." Council of Administration, 1857
P.S. (Sorin to Mother Superior of St. Mary's)
"If there is any money at St. Mary's, I have an occasion for it, for I just received an order for $600 to be paid today and $40 is all we have." 1858
"In one important respect the Father General's mission to St. Mary's proved a failure: the wise provisions which he made for the Sisters' temporal government was set aside by Father Sorin. The American Superior judged them inopportune, and insisted that a clearage of financial interest just then between St. Mary's and Notre Dame would be harmful to both institutions." FLAME IN THE WILDERNESS, page 143, 1857
"The amount of the debts has been lessened, but so had that of the assets. In spite of the economy that was practiced in everything, the institution was hardly self-supporting. All extraordinary expenses had been avoided, and even things that in ordinary times would be considered necessities were dispensed with. In many ways the Community was destitute, even in the matter of clothing." Sorin's Chronicles, 1859
Jan. 4, 1859 . . they were saying, "Notre Dame will be sold today." Local Council, 1859
"Since September 1857 I'm almost the property of my creditors. Our treasury is empty." Sorin to Mrs. Phelan
"Brother Lawrence said there was only $100 in the treasury and no considerable sum of money for some time. Couldn't borrow without mortgaging property and paying 10% interest . . . .'God,' said Sorin, 'seeing our good will will provide for our future wants and will help us in possible distress which we might be laboring under at no distant day." Local Council, January 1, 1862
" . . . to have a means of meeting the heavy payments falling due in September and October, it was resolved that the schools must give their notes at 3, 6, and 9 months to the amount of their salaries or to what they can be reasonably expected to make." Minutes of Provincial Chapter, 1861
Accounts of missions with the Provincial House. Net profit of:
Cincinnati $143.07 Columbus 287.79 Michigan City 76.00 Ft. Wayne 25.30 Hamilton 12.35 Toledo 200.72 Philadelphia 761.25 -------- $1506.48
From Ft. Wayne also books and stationery valued at $127.95
The establishment at Chicago including old debts and note to the Provincial House $700.
1862: The Cash Book is examined and the balance is found to be $5.23.
Local Council, April 7, 1862
1857: Fr. Superior examines Cash Book and finds a balance of $19.00.
Oct. 14, 1857
1857: Balance $2.00 -- December 8
1858: No balance. February 15
1862: Very Rev. Fr. Provincial examines the Cash Book and finds a balance of $2,216.21.
Local Council, June 30, 1862
1863: Balance of $3,740.00 -- April 13.
1863: Council decides that $500 may be expended in trying to find out a coal mine on our land.
Local Council
1864: All our real estate shall be sold in payment of our debts. Feb. 15.
"Unanimously agreed that next vacation a circular shall be issued to inform the public that henceforth gold shall be our standard -- regulating our terms, i.e., $135. per year in gold or its equivalent." March 12, 1864
Notre Dame prosperous in 1863 and 1864 because of Civil War, though poor a few years before. Probable profits of college 100,000 francs a year. But all goes into buildings, furniture, etc. None left in bank.
Sorin wants information on making best sugar at Notre Dame. Beets grow very well on Notre Dame soil. Sorin pays 25 cents a pound for sugar. Merchants in South Bend get 35 cents - 40 cents retailing.
"Twenty-five hundred dollars was accepted till he calls for it. Provisions to be bought at once with this money." Local Council, Dec. 19, 1864
Money may be borrowed at 10% for a reasonable length of time. Local Council, April 2, 1866
It was resolved that the proposition made by an insurance company to loan Notre Dame $20,000 at 3% should be accepted. Local Council, March 19, 1969
Decide to substitute Brothers for women in doing work of house, an economy measure. Brother Charles to direct the work. January 20, 1868
To lessen expenses in every possible way; to sell properties not absolutely indispensable. January 27, 1868
Six thousand francs from Propagation in 1868.
Notre Dame: 800 acres less 60 are cultivated by the Brothers. Sixty acres woodland. Property worth 500 francs an acre. -- 400,000 francs.
Resolved: that Brother Lawrence go East to procure at reducted rates of interest a loan of $25,000 and that full power of attorney be given him. Local Council, December 26, 1868
Brother Lawrence informed the Council of the ill success of his trip East where he could not get the money. Local Council, January 2, 1869
Notre Dame had a deposit of $10,000 with Jay Cooke and Co., Philadelphia, but needing the money withdrew it a few days before the failure of that banking firm. Their failure started panic of 1873.
Paper money heretofore at so great a discount is now nearly equal in value to gold. There was a time when $600 in gold bought $1500 in paper. 1878
Notre Dame was owed more than $80,000. A few who, after the fire of 1879, Sorin called upon for payment of outstanding debt for him $15! SCHOLASTIC, SVI, page 153
"On their side, neither the diocese nor the Mother House was in a hurry to act until this question was settled. The diocese, however, made their determination much more manifest. While Father Moreau continued to do all he could for them, Msgr. de la Hailandiere maintained a kind of reserve as much as to say that he would have been willing and able to do more if the Brothers' establishment had been placed entirely in his care." 1842
"The state of destitution of the little colony, thus deserted on both sides, and left to its own fate would sooner have been a sad one had not Providence shown that same readiness as in a thousand other circumstances to step in and rescue our good Brothers from their embarrassment. Father Julian Delaune, who preceded Father Sorin in charge of St. Peter's Mission, was assigned to Shawneetown, Illinois . . . conversing one evening with Father Sorin about his pious projects for his future field of labor, the latter said to him laughingly, that perhaps he would be doing better if he took his staff and sack of a beggar and went to friendly houses to collect for the Brothers whom he had received into his house without being able to assure them against soon dying of hunger. God permitted that the words were taken more seriously than they were intended." Sorin Chronicles
(See also "Propagation of the Faith")
1841: See under "Sorin as Financier"
(Finance, 1843-44: Ledgers) -- Ledgers described. See under "Finance" in the large file.
1843: See under "Sorin to Hailandiers".
(Finance, New Orleans, 1848) "Conditions made by Father Drouelle for St. Mary's Orphanage: Four Brothers at 125: Director, Brother Vincent, $150."
1857: "Then Father Sorin informs me that the financial crisis in America has become so serious that all the banks, even the best in New York, have stopped all payments, and that if Heaven does not perform a great miracle for his community, it will be unable to survive long." Fr. Moreau: Letter #91
1858-1877: See under FINANCES in the large file.
1860: "If the debts weighing on the Institution should some day be paid off, it cannot be denied that Notre Dame du Lac will be for the Congregation of Holy Cross a foundation worthy of being preserved. With its resources in land it could support itself without the least dependence on public patronage. Its little domain and its new lime and brick kilns afford it a surer source of existance than the number of pupils." Sorin "Chronicles"
1866-67: "The scholastic year was already well under way, nearly 350 boarders had entered, and everything promised a most successful year. However, as soon as he (Sorin, who had been abroad) learned of the reduction (October 21, 1866) of $50 made in the former cost of board, he felt that the profits would not correspond to the number, and he expressed fears to the administration. But it was, for the time, a misfortune that could not be helped. The books showed a loss, a real deficit of $10,000 at the end of the session. After such an experience, he insisted on having the former charges restored, which was done when the pupils returned in September, 1867."
2 350 ------- $17,500 loss on reduction 10,000 net loss -- $7,500 gain
(Teaching, Finances, 1870) " . . . finally, that strangers be dispensed with gradually; otherwise you will never derive much profit from all your plans and labors, and your own members will be more exposed to become worldy there than anywhere else. It is a sad sight to see that, after 26 years teaching here, we are yet unprepared to fill our chairs with our own members . . . preparations should be commenced at once to organize among our own teachers for all branches.
"In furtherance of this resolution, the Scholasticate must be filled with our most promising young Religious -- even at some expense and sacrifice -- in order to obtain for them and among them, a higher standard of education. Our teaching members of missions, thus far, have brought scarcely anything; more than one is even now an expense. Some establishments must be suspended for a time to fill our Scholasticate" Sorin Visit: "Circular Letters", p. 268
(1879) Resolved: To utilize the labors of the Community to the best possible advantage and to employ as little paid labor as possible." Local Council, April 5
See under Finance: Revenue in the large file. 1841-8
1841-42: See under Father Delaune; Foundations
See under: Novitiate -- St. Peter's -- Sorin to Hailandiere -- Sorin -- Notre Dame -- Brothers -- Hailandiere -- St. Francis' Home -- Lancaster, 1855