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ROM Wellesley College comes the statement, published in this issue of the NEW ENGLAND MAGAZINE, that $550,000 are yet needed to secure the great Rockefeller gift for the rebuilding of the College. This money must be raised by January 1, 1915.

A great effort has been made and complete success is very near. There should be no delay in making that completion an assured fact. Let every friend of Wellesley communicate at once with the president or treasurer, and learn how to adapt a pledge to their own circumstances. Let every one who receives this copy of the NEW ENGLAND MAGAZINE do something, and do it at once.

This is an hour of severe trial, an hour when money should be placed where it belongs, an hour when frivolities are, to say the least, in bad taste. Money given to such an institution is not taken from the business of the world. It is either expended in rebuilding, going directly into circulation, or it is loaned for the development of substantial and important enterprises, at a very moderate interest rate. No funds are more wisely invested. The interest charge to capital goes to the public in the education of young women. The capital itself is employed for the public benefit in non-speculative enterprises. In the interim between its reception and its investment, or expenditure, the money serves to strengthen the best financial institutions, making every one's savings more secure. Economically, therefore, giving to an educational institution in time of financial stress is a sound and constructive policy, with beneficial effects on the whole situation. As

always, a good deed redounds in benefits along unexpected lines.

But even if these things were not so, if the money were tied up unfruitfully, in the ordinary commercial sense, there should be no hesitation. It is far more important that a civilization should preserve its spiritual than its material values. It has cost the best efforts of some of our nation's highest spiritual thought to make Wellesley. The institution faces a crisis. The response should be instantaneous and abundant. We can afford to do without many things. It is not a serious matter if there is a trifling check here or there in the production of this or that bauble for a rich and luxuryloving people. It is a very serious matter if the slightest check is imposed on one of the great spiritual agencies of our all too material civilization. Read Mrs. Guild's article on Wellesley, in this issue of the NEW ENGLAND MAGAZINE. Then, if you have not already done so, go to your local library (or better still, buy yourself a copy) and read Professor Palmer's life of Alice Freeman Palmer. You will not then ask yourself if Wellesley represents something that should be made permanent. You will only ask yourself, "How much can I do?" The spirit of sacrifice will enter your heart, and a very happy experience will be yours-that of being one of the unseen workers for the cause of Christ. of Christ. Made in the spirit that will come to you after reading of such a book, your gift, whether small or large, will bring a benediction that an unscantified prodigality never knows. Let the world see that the old New England spirit is not dead!