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REPORT OF THE PRESIDENT

It has been observed by disinterested and competent educational
thinkers and critics that one of the most remarkable facts in the present
history of higher education in America is the fact that in the very
biennium, in which the University of North Carolina was reduced
below the subsistence level, a nation-wide poll conducted by the Amer-
ican Council on Education gave the University of North Carolina the
highest rating for teaching and scholarly graduate excellence south of
Baltimore and east of the Mississippi. North Carolinians at home and
abroad, and national leaders in education, thought, and public life, all
over this continent, because of the Southern and American cultural
values and the great national stakes in the public trust which is yours
to keep, restore, and advance, join you in spirit today with their hopes
for the restoration of the University of North Carolina in all its colleges,
schools, and divisions.

The University was struck down in the last two budgets. It has
been saved by its faculties. It is time we did something about saving
the faculties. We would save the faculties for their sakes and for the
sake of the youth who are here and the North Carolina that is to come.

Respectfully,

FRANK P. GRAHAM, President.