Thefiguresandpercentagesgivenabovearenotclaimedtobeexact;itisknownthatamoreaccuratespecificationofdetailswouldresultinalessfavourableshowing。
Atthetimewhenthesemattersweredisclosed（toasmallnumberoftheuneasypersonsinterested）therewasanuglysuggestionafloattouchingthepecuniaryintegrityoftheboard’smanagement，butthisisdoubtlesstobedismissedasbeingmerelyalooseexpressionofill—will;andthelikeisalsodoubtlesstobesaidasregardsthesuggestionthattheremayhavebeenaninterestedcollusionbetweentheacademicheadandtheactivemembersoftheboard。Thesewere\"allhonourablemen，\"ofgreatreputeinthecommunityandwellknownassagaciousandsuccessfulmenintheirprivatebusinessventures。
2。Cf。TheInstinctofWorkmanship，ch。vii，pp。343—352。
3。Asubsidiaryreasonofsomeweightshouldnotbeoverlookedinseekingthecauseofthissecularizationoftheboards，andofthepeculiarcolourwhichthesecularizationhasgiventhem。Inanycommunitywherewealthandbusinessenterpriseareheldinsuchhighesteem，menofwealthandofaffairsarenotonlydeferredto，buttheircountenanceissoughtfromonemotiveandanother。Atthesametimeelectiontooneoftheseboardshascometohaveahighvalueasanhonourabledistinction。Suchelectionorappointmentthereforeisoftensoughtfrommotivesofvanity，anditisatthesametimeaconvenientmeansofconciliatingthegoodwillofthewealthyincumbent。
Itmaybeaddedthatnowandagainthediscretionarycontroloflargefundswhichsofallstothemembersoftheboardmaycometobepecuniarilyprofitabletothem，sothattheofficemaycometobeattractiveasabusinesspropositionaswellasinpointofprestige。Instancesofthekindarenotwhollyunknown，thoughpresumablyexceptional。