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SAPIENTIA ET DOCTRINA STABILITAS

ment of the objects aforesaid, and for removing the difficulties and
objections hereinbefore referred to: - Be it therefore enacted, +c."

The terms of the Act which followed "established a
University to be called the University of Toronto, and a Collegiate
Institution in the City of Toronto, to be called University College,
These, according to the provisions of the Act, are entirely distinct
and separate, the one from the other; having different functions,
and being placed under different Government. The functions
of the University are simply to examine for, and confer degrees
and University honors. Those of University College, to give to
Students the ordinary education of Collegiate Institutions. The
property of all kinds, belonging to the University of Toronto, as
formerly constituted, was vested in the Crown, to be managed
by a Bursar, under the direction of the Governor in Council;
and the income thence arising, omitting for the present all
reference to what is called Upper Canada College, which
has property of its own, to be applied, first to defray the
expenses of the University; second, of University College;
and third, if there were any surplus to form a fund, to
be from time to time appropriated by Parliament, for Aca-
demical education in Upper Canada."

The annual income at that period being from

1859-60