9 - live off the campus for a spell. After a demonstrated success in the business world, Ernie agreed to become Dean of the School of Business at substantial personal sacrifice. Within the last several weeks I have had the opportunity to attend a meeting to which Ernie had invited representatives of all of the leading Graduate Schools of the country, and I can testify from their unsolicited comments to me that Ernie has already made a real name for himself in academic circles. While the case of Dean Arbuckle is more easily documented because of the record of obvious accomplishment and the length of time served in the business world, he is not untypical of other members of the Stanford faculty and staff in that these people serve and subsidize Stanford. They do so by accepting financial remuneration at levels well below that to which they are entitled. I am confident that the same is true of other able members on the financial and the business side of the University, such as Alf Brandin and Ken Cuthbertson, just to pick two. Certainly it is also true of the faculty. One of the major objectives at Stanford is to improve faculty salaries both in fairness to those who now serve and as a means of attracting more accomplished people. Some solid progress has been recorded and in the past 20 years professors' salaries have gone from about $4500 to $11,000 at the present time. Adjusting for the change in the cost of living, this is an improvement in real wages of only about $2,000 at 1959 values, while Associate Professors have had a net gain of only about $1,200 during this time. Frankly, this is not enough, for other professional people and wage earners have fared far better in the same period. However, it is a beginning, and it must be continued in the future. We have not done more because we cannot do more at the present time, and this brings me to the matter of money. With the size of the student body doubling and commodity prices also doubling in the past 20 years, Stanford now needs four times as much money to