The Harvard Bill.

The following bill in substance is now before the Massachusetts legislature: The President and fellows of Harvard College may accept. take and hold, and may sell at their discretion, unless expressly forbidden by the terms of the gift, any real estate, within or without Commonwealth, which has been, or may hereafter be, given or devised to them for educational purposes.

President Eliot forms this bill as he says it will increase the security even if it does not increase the income, since the provisions of the bill allow property inside of the state to be sold.