To the Editor:

It is clear from the previous few issues of The Commentator that the editorial staff has chosen to vilify the University Administration's apparent efforts to expand the University's Endowment Fund. The editors have a right to take issue with whatever they like; however, in my opinion their offense is misdirected. While bureaucratic indifference might be (semi) interesting journalism, and it is easy to pin every denied student request for additional funding on a stingy administration, the Editorial Board has refused to recognize the value, both long and short term, of the University's Endowment Fund.

In the long term, building a large endowment will allow the University to expand its offerings to students, including better faculty and more research opportunities. Saving a few thousand dollars now can provide millions of dollars for the next generation of students. While current students might not see those benefits, it is the job of the Administration to improve the University over its entire life.

However, there is still a short-term gain that current students will enjoy, even while they lack completely adequate facilities. The University's standing in the academic community, as told by US News and World Report, continues to rise every year. One of the main reasons for the gains is, arguably, the exponential growth of the University's endowment assets, which is a strong measure of the resources a University has to provide to its student body and faculty. Yeshiva is therefore able to recruit a stronger selection of potential students, improving the academic life on campus. At the same time, the price value of a Yeshiva diploma increases in direct proportion to our national standing, allowing students to be selected for better graduate schools and job positions upon graduation.

The student body should thank, not criticize, the administration for its efforts to improve the University.

Joshua Goldman
SSSB '03

The Editors Respond:

Please correct us if we misunderstood. In a nutshell, your argument is that the current generation of students and faculty should suffer with inadequate facilities so that Yeshiva's growing endowment - which you call "a strong measure of the resources a University has to provide to its student body and faculty" - will enhance Yeshiva's academic reputation. So, rather than having Yeshiva actually provide students and faculty with resources, you would have Yeshiva pad the endowment - the barometer of the resources that Yeshiva could provide for students if it were willing to spend some of the money in the endowment. Compelling argument. It's a wonder we never thought of it ourselves.