of medicine, and an enrolment of 4570 students, of whom 2989

were in the college (412 in the school of arts; 987 in the Towne scientific school, 472 1n the Wharton school, and 253 in the evening school of accounts and flnance, 384 in courses for teachers; and 481 in the summer school), 353 in the graduate school, 327 in the department of law, 559 in the department of medicine, 385 in the department of dentistry, and 150 in the department of veterinary medicine.

In August 1907 the excess of the university's assets over its liabilities was $13,239,408 and the donations for the year were $305,814. A very large proportion of the university's investments is in real estate, especially in Philadelphia. In 1907 the total value of real estate (including the university buildings) was S6,829,154; and libraries, museums, apparatus and furniture were valued at S2,025,357. Students' tuition fees vary from $150 to $200 a year in the college, and are $160 in the department of law, S200 in the department of medicine, $150 in the department of dentistry and $100 in the department of veterinary science The income from tuition fees in 1906-1907 was $458,396; the payments for “educational salaries” amounted to $433,311, and for “ administration salalies " to $135,314. The university publishes the following series: Astronomzcal Serzes (1899 sqq); Contrftbuttons from the Botanical Laboratory (1892 sqq); Contrzbutzonsfrom the Laboratory o{Hyg1ene (1898 sqq); Contrzbuttons from the Zootogtcal Laboratory 1893 sqq); Serzes tn History (1901 sqq); Sertes tn Mathematzcs (1897 sqq.); Sertes tn Phftlology and Lzterature (1891 sqq.); Serftes 'Ln Romanftc Languages and Lzteratzzres (1907 sqfil); Sertes in Phtlosophy (1890 sqq.); Serfteszn Polzttcal Economy and Publtc Law (1885 sqq); TheAmer'Lcan Law Register (1852 sqq.); The Unwerszty of Pennsylvanta Medtcal Bullettn (1888 sqq), Transacttons of the Department of Archaeology (1904 SCICI), the Journal of Morphology (188 'sqq);and Transacttons and Proceedzngs of the Botantcal Somety of éennsylvanta (1897 sqq). There are also occasional publications by institutes and departments connected with the university. Student publications include a daily, The Pennsylvanzan (1885); the weekly, Old Penn (1902); a comic monthly, The Punch Bowl, a literary monthly, The Red and Blue, a quarterly of the department of dentistry, The Penn Dental Journal; an annual, The Record; and The Alumnz Register (1896), a monthly.

Benjamin Franklin in 1749 published a pamphlet, entitled Proposals Relatzng to the Educatzon of Youth in Pensilvania, which led to the formation of a board of twenty-four trustees, nineteen of whom, on the 13th of November 1749, met for organization and to promote “ the Publick Academy in the C1ty of Philadelphia, ” and elected Benjamin Franklin president of the board, an office which he held unt1l 1756. So closely was Franklin identified with the plan that Matthew Arnold called the inst1tut1on “ the University of Franklin.” On the ISK of February 1750 there was conveyed to this board of trustees the “ New Building” on Fourth Street, near Arch, which had been erected in 1740 for a charity school-a use to which it had not been put-and as a “ house of Pubhck Worship, ” 1n which George Whitefield had preached in November 1740; the original trustees (including Franklin) of the “ New Building ” and of its projected charity school date from 1740, and therefore the university attaches to its seal the words “ founded 1740 ” In the “ New Building ” the academy was opened on the 7th of January I'}'5I, the c1ty having voted £200 in the preceding August for the completion of the bu1ld1ng. On the 16th of September 1751 a charitable school “ for the instruction of poor Children gratis in Rcadzng, ll/rttittg, and /lrithmetick ” was opened in the “ New Building.” The proprietaries, Thomas and Richard Penn, incorporated “ The Trustees of the Academy and Charitable School in the Province of Pennsylvania ” 1n 1753, and in 1755 issued a confirmatory charter, changing the corporate name to “ The Trustees of the College, Academy and Charitable School, ” &c., l'1C1'Cup0I1 William Smith (1727-1803) of the university of Aberdeen, who had become rector of the academy in 1752 and had take11 orders in the Church of England in 1753, became provost of the college. In 1756 Dr Smith established a complete and liberal curriculum which was adopted by Bishop James Madison in 1777 when he became president of the College of William and Mary. In 1757 the first college class graduated. Under Smith's control the Latin school grew in importance at the expense of the English school, to the great annoyance of Franklin. In 1762-1764 Dr Smith collected for the college in England about £6900; and in 1764 his influence had become so strong that It was feared that the college would become sectarian. The Penns and others deprecated this and the trustees bound themselves (1764) to “ use their utmost endeavours that . . . (the original plan) be not narrowed, nor the members of the Church of England, nor those dissenting from them . . . be put on any worse footing in this seminary than they were at the t1me of receiving the royal brief.” From September 1777 to June 1778 college exercises were not held because Philadelphia was occupied by British troops. In 1779 the state legislature, on the ground that the trustees' declaration in 1764 was a “ narrov~1ng of the foundation, ” 1 confiscated the rights and property of the college and chartered a new corporation “the Trustees of the University of the State of Pennsylvania ”; in 1789 the college was restored to its rights and property and Smith again became its provost; in 1791 the college and the university of the State of Pennsylvania were united under the title, “ the University of Pennsylvania, ” whose trustees were elected from their own members by the board of trustees of the college and that of the university. In 1802 the university purchased new grounds on Ninth Street, between Market and Chestnut, where the post office building now is; there until 1829 the university occupied the building erected for the administrative mansion of the president of the United States; there new buildings were erected after 1829; and from these the university removed to its present site in 1872.

The provosts have been: in 1755-1779 and in 1789-1803, William Smith; in 1779-1791, of the university of the state of Pennsylvania, John Ewing (1732-1802); in 1807-1810, John McDowell (1750-1820), in 1810-1813, John Andrews (1746-1813); in 1813-1828, Frederick Beasley (1777-1845); in 1828-1833, William Heathcote De Lancey (1797-1865); in 1834-1853, John Ludlow (1793-1857); in 1854-1859, Henry Vethake (1792-1866); in 1860-1868, Daniel Raynes Goodwin (1811-1890); in 1868-1880, Charles Ianeway Stillé (1819-1899); in 1881-1894, William Pepper (1843-1898), in 1894-1910, Charles Custis Harrison (b. 1844), and in 1911 sqq. Edgar Fahs Smith (b. 1856). See T. H. Montgomery, A History of the Unwersity of Pennsylvania from tts Foundatton to A.D. 1770 (Philadelphia, 1900); George B. Wood, Early History 1lf the Unwerszty of Pennsylvanta (3rd ed., lbld., 1896); ]. B. Mc aster, The Unwersuy of Pehnsylvanta (1b1d. 1897); G. E. Nitzsche, Ojiczal Guzde to the Unfwerszty of Pennsylvanta (ibid., 1906); and Edward P. Cheyney, “University of Pennsylvania, ” in vol. i. of Unaersutes and thetr Sons (Boston, 1901).

PENNY (Mid. Eng. penl or peny, from O. Eng. form penig, earlier penntng and pendzng; the word appears in Ger. Pfenntg and Du. pennlng; it has been connected with Du. pand, Ger. Pfand, and Eng. “ pawn, ” the word meaning a little pledge or token, or with Ger. Pfanne, a pan), an English coin, equal in value to the one-twelfth of a shilling. It 1S one of the oldest of English coins, superseding the sceatta or sceat (see NUMISMATICSQ and BR1TA1N: Anglo Saxon, § “ Coins ”). It was introduced into England by Offa. king of Mercia, who took as a model a coin first struck by Pippin, father of Charlemagne, abo11t 73 5, which was known in Europe as novus denarlus. OHa's penny was made of silver and weighed 22% grains, 240 pennies weighing one Saxon pound (or Tovs er pound, as it was afterwards called), hence the term pennyweight (dwt.). In 1 527 the Tower pound of 5400 grains was abolished, and the pound of 5760 grains adopted instead. The penny remained, with some few exceptions, the only coin issued in England until the introduction of the gold iiorin by Edward III. in 1343. It was not unt1l the reign of Edward I. that halfpence and farthings became a regular part of the coinage, it having been usual to subdivide the penny for trade purposes by cutting it into halves and quarters, a practice said to have originated in the reign of /Ethelred II. In 1257, in the reign of Henry III., a gold penny, 1 Probably the actual reason was that the assembly, dominated by the advocates of the radical constitution of 1776, was attempting to punish the trustees of the college, who were almost all “ anti constitutionalists."