Watchman And Observer

For the Watchman and Observer.

UNION THEOLOGICAL SEMINARY.

Dear Sir,—Feeling assured, that with some of your readers it will be a matter of interest to hear from Union Seminary of the twenty thousand Presbyterians of North Carolina and Virginia the delightful Anniversary which it was my privilege to attend, at the Institution, on the 9th inst.

And when I saw the large audience, and the twenty formed with which the Examining Committee and the more Ministers, Directors and the duties witnessed gratifying evidence in heard entered zeal Mr. and of Greater on scholarship and s testi- per-

and faithful training of the Faculty, —and when I saw the improved and beautiful appearance of the exterior of the buildings and grounds, —when I witnessed these and other indicia of improvements, I returned to my home with re-invigorated hope, and think I see, to use a venerable Editor's phrase, that the "skies were bright and brightening;" and feel, that, notwithstanding the hitherto depressed condition of the Church, and the many undoubted evidences of spiritual decline in our Southern Zion, we may, trusting in God alone, yet hope for better things.

The public exercises were opened with a sermon, by the Rev. W. S. White, from Isa. lxii. 1. I forbear any further notice of this excellent discourse, as I learn that it is hoped that Mr. W. will yield to the wishes of those who heard it, and give the Christian public the benefit of his eminently practical views in the exposition of the text. I trust he will do so through your paper; (and especially as he is attached to a Presbytery, who manifest no little interest in the Watchman and Observer. and he. no doubt, thinks that actions and fruits are better than resolutions and professions.)

The Rev W. H. Foote, D. D.., presided over the deliberations of the Board of Directors. After the Sermon, with a few pertinent remarks, he closed the Seminary year,—dismissed the students,—and awarded the usual Diploma, to the following gentlemen, who now go out to preach the Gospel,—viz: Messrs. C. Read Vaughan of Farmville, S.C. Pharr of N. C. Wm. Stoddert of Prince William, Va., P. H. Dalton of N. C.. Jas. M Wilson of Prince Edward, Steph. A Stanfield of N. C

The Board were in Session till Thursday night, and transacted much business. Their sittings were open to the public, and I. availing myself of the privilege of attending, noted the following among other of their transactions:

In obedience to the expressed wish of several Alumni present, Messrs. Sampson, W. C. Scott, and Naylor, were appointed a Committee to arrange and call a meeting of the Alumni,—invite some one to make the introductory address, and make other preliminary arrangements for forming a "Society of Alumni of Union Seminary."

It is hoped that the organizing convention will be held at an early day, and that at the next anniversary, (in June, 1848,) the Society will hold a meeting.

To add to the interest of the public exercises at the annual meetings of the Board, steps were taken to hold, annually, a Seminary Commencement, when the young men and the representatives of the Societies of Enquiry, Alumni, &c., will make public Addresses.

The Librarian's Report showed a small increase, by donation, of books—but we regretted to hear from the Treasurer's Report, that the "Library Fund" had not reached one hundred dollars! of principal as yet.

The deficiency in the Library, of an increase of modern Literature, is supplied in a measure by the excellent private collections of the Professors; but, it surely cannot be, that the Church will permit the Library to remain at the present number of about 3500 volumes.

But the great and engrossing subjects of consideration, by the Board. were the full endowment of the third Professorship,the payment of arrearages to Professors,—and the necessary increase of the Treasury. And as it is important that the Church should be acquainted with the facts in this case, let me be a little particular: It was the purpose of the founders of the Seminary to fully endow at least three Professorships. The call on the public to erect the buildings and endow two Professorships, was met. After completing the buildings, between fifty and sixty thousand dollars remained for endowment. This was again diminished by a depreciation of $3000 in one of its stocks, and by other losses from unavailable subscriptions and collections.

With great fidelity and wisdom the Directors have managed the Invested Funds; and as our evidence of their determination not to touch Permanent Funds. although some $1500 or $2000 is still due, chiefly to the Professors, at the late meeting, they refused to borrow from this Fund a debt recently collected in New York.

The incomes to the Treasury from dividends and interest, are about $3000; this is subject to deductions for annual contingent expenses, from $100 to $300 and among these contingent expenses I cannot forbear to notice one: It seems that, many years since, a gentleman once connected with the Seminary, and whose memory is held in the highest estimation, became indebted to West Hanover Presbytery. The Seminary bought an excellent Library of the gentleman; assumed the payment of the debt due the Presbytery, ($888 88) on the following terms: the Principal to be retained by the Seminary, and the interest to be paid to the Presbytery. It has been paid and forms an annual charge of $53 33 on the revenue of the Seminary. Not doubting that the arrangement was a wise one, will it be pardoned in the writer, if he suggests, that when west-Hanover looks around, and sees how many Alumni of Union are filling her pulpits, is not the debt, principal and interest, fully paid?

The annual charges on the annual revenues of the Seminary, with the strictest economy, and with great liberality on the part of the Professors, in improving the property occupied by them, reduces the ways and means of paying the Professors annually below $3000;—and hence, for years, they have been unpaid, and the deficiency, from year to year, has gradually increased the debt due from the Seminary to the Professors and others.

In view of these facts, the Board, after a full and free interchange of opinions. (and would that every Presbyterian in N. Carolina and Virginia, could have heard the most judicious and wise views of Messrs. Greater. McPhail, White and Dr. Foote) and under the guidance of God's Holy Spirit, as I trust, determined to go to the Churches,—to the 20,000 Presbyterians in Virginia and N. Carolina and elsewhere—and to ask for $25,000—to complete the endowment of a third Professorship—and to supply other necessities of the Seminary. There was an additional necessity for this course. It was unreasonable, and everybody sees it is, to ask Mr. Sampson to remain as Instructor on the small salary of $800 and that not paid to him.

The Board, however, after a full and patient investigation of the interests of the Seminary, unanimously resolved to do their duty; and now. having discharged thus much of their duty, their responsibility in a measure ceases, and that of the Church begins. WILL THE BOARD BE SUSTAINED? We have but little, if any doubt, that the Church will do its duty.

The Rev. Andrew Hart was unanimously appointed an Agent to execute the resolution of the Board.

The College of Electors was called to meet on the second Monday in June, 1848, at 3 P. M.

We are glad to learn that there are encouraging prospects of additions to the number of students next Session.

I cannot forbear to add one other item. It is contemplated thoroughly to cleanse, white-wash, &c. &c., the buildings, and white-wash the enclosures of the Seminary during vacation.- There are many, no doubt. in the two Synods who will cheerfully aid, by contributing money, (a very small amount) labor, materials, &c. before the first of July, to this purpose. Send these forward to Rev. Dr. Graham, P. Edward C. H.

Yours,

VIRGINIAN.