be　set　down　to　mere　boyish　exuberance　of　make…believe；　it　must　be
  sought　among　considerations　germane　to　that　business　enterprise
  that　rules　academic　policy。　However　attractive　such　a　derivation
  might　seem；　this　whole　traffic　in　pageantry　and　ceremonial
  amenities　can　not　be　traced　back　to　ecclesiastical　ground；　except
  in　point　of　remote　pedigree；　it　has　grown　greater　since　the
  businessmen　took　over　academic　policy　out　of　the　hands　of　the
  clergy。　Nor　can　it　be　placed　to　the　account　of　courtly；
  diplomatic；　or　military　antecedents　or　guidance；　these　fields　of
  activity；　while　they　are　good　breeding　ground　for　pomp　and
  circumstance；　do　not　overlap；　or　even　seriously　touch；　the
  frontiers　of　the　republic　of　learning。　On　the　other　hand；　in
  seeking　grounds　or　motives　for　it　all；　it　is　also　not　easy　to
  find　any　close　analogy　in　the　field　of　business　enterprise　of　the
  larger　sort；　that　has　to　do　with　the　conduct　of　industry。　There
  is　little　of　this　manner　of　expensive　public　ceremonial　and
  solemn　festivities　to　be　seen；　e。g。；　among　business　concerns
  occupied　with　railroading　or　banking；　in　cottonspinning；　or
  sugar…refining；　or　in　farming；　shipping；　coal；　steel；　or　oil。　In
  this　field　phenomena　of　this　general　class　are　of　rare
  occurrence；　sporadic　at　the　best；　and　when　they　occur　they　will
  commonly　come　in　connection　with　competitive　sales　of　products；
  services　or　securities；　particularly　the　latter。　Nearer　business
  analogues　will　be　found　in　retail　merchandising；　and　in
  enterprises　of　popular　amusement；　such　as　concert　halls；　beer
  gardens；　or　itinerant　shows。　The　street　parades　of　the　latter；
  e。g。；　show　a　seductive；　though；　it　is　believed；　misleading
  analogy　to　the　ceremonial　pageants　that　round　off　the　academic
  year。
  Phenomena　that　come　into　view　in　the　later　and　maturer　growth
  of　the　retail　trade；　as　seen；　e。　g。；　in　the　larger　and　more
  reputable　department　stores；　are　perhaps　nearer　the　point。　There
  are　formal　〃openings〃　to　inaugurate　the　special　trade　of　each　of
  the　four　seasons；　desired　to　put　the　patrons　of　the　house　on　a
  footing　of　good…humoured　familiarity　with　the　plant　and　its
  resources；　with　the　customs　of　the　house；　the　personnel　and　the
  stock　of　wares　in　hand；　and　before　all　to　arrest　the　attention
  and　enlist　the　interest　of　those　classes　that　may　be　induced　to
  buy。　There　are　also　occasional　gatherings　of　a　more　ceremonial
  character；　by　special　invitation　of　select　customers　to　a
  promised　exhibition　of　peculiarly　rare　and　curious　articles　of
  trade。　This　will　then　be　illuminated　with　shrewdly　conceived
  harangues　setting　forth　the　alleged　history；　adventures　and
  merits；　past　and　future；　of　the　particular　branch　of　the　trade；
  and　of　the　particular　house　at　whose　expense　the　event　is
  achieved。　In　addition　to　these　seasonal　and　occasional　set　pieces
  of　mercantile　ceremony；　there　will　also　run　along　in　the　day'　s
  work　an　unremitting　display　of　meritorious　acts　of　commission　and
  omission。　Like　their　analogues　in　academic　life　these　ceremonials
  of　trade　are　expensive；　edifying；　enticing；　and　surrounded　with　a
  solicitous　regard　for　publicity；　and　it　will　be　seen　that　they
  are；　all　and　several；　expedients　of　advertising。
  To　return　to　the　academic　personnel　and　their　implication　in
  these　recurrent　spectacles　and　amenities　of　university　life。　As
  was　remarked　above；　apart　from　outside　resources　the　livelihood
  that　comes　to　a　university　man　is；　commonly；　somewhat　meagre。　The
  tenure　is　uncertain　and　the　salaries；　at　an　average；　are　not
  large。　Indeed；　they　are　notably　low　in　comparison　with　the　high
  conventional　standard　of　living　which　is　by　custom　incumbent　on
  university　men。　University　men　are　conventionally　required　to
  live　on　a　scale　of　expenditure　comparable　with　that　in　vogue
  among　the　well…to…do　businessmen；　while　their　university　incomes
  compare　more　nearly　with　the　lower　grades　of　clerks　and　salesmen。
  The　rate　of　pay　varies　quite　materially；　as　is　well　known。　For
  the　higher　grades　of　the　staff；　whose　scale　of　pay　is　likely　to
  be　publicly　divulged；　it　is；　perhaps；　adequate　to　the　average
  demands　made　on　university　incomes　by　polite　usage；　but　the　large
  majority　of　university　men　belong　on　the　lower　levels　of　grade
  and　pay；　and　on　these　lower　levels　the　pay　is；　perhaps；　lower
  than　any　outsider　appreciates。（3*）
  With　men　circumstanced　as　the　common　run　of　university　men
  are；　the　temptation　to　parsimony　is　ever　present；　while　on　the
  other　hand；　as　has　already　been　noted；　the　prestige　of　the
  university　　and　of　the　academic　head　　demands　of　all　its
  members　a　conspicuously　expensive　manner　of　living。　Both　of　these
  needs　may；　of　course；　be　met　in　some　poor　measure　by　saving　in
  the　obscurer　items　of　domestic　expense；　such　as　food；　clothing；
  heating；　lighting；　floor…space；　books；　and　the　like；　and　making
  all　available　funds　count　toward　the　collective　end　of　reputable
  publicity；　by　throwing　the　stress　on　such　expenditures　as　come
  under　the　public　eye；　as　dress　and　equipage；　bric…a…brac；
  amusements；　public　entertainments；　etc。　It　may　seem　that　it
  should　also　be　possible　to　cut　down　the　proportion　of　obscure
  expenditures　for　creature　comforts　by　limiting　the　number　of
  births　in　the　family；　or　by　foregoing　marriage。　But；　by　and
  large；　there　is　reason　to　believe　that　this　expedient　has　been
  exhausted。　As　men　have　latterly　been　at　pains　to　show；　the
  current　average　of　children　in　academic　households　is　not　high；
  whereas　the　percentage　of　celibates　is。　There　appears；　indeed；　to
  be　little　room　for　additional　economy　on　this　head；　or　in　the
  matter　of　household　thrift；　beyond　what　is　embodied　in　the　family
  budgets　already　in　force　in　academic　circles。
  So　also；　the　tenure　of　office　is　somewhat　precarious；　more　so
  than　the　documents　would　seem　to　indicate。　This　applies　with
  greater　force　to　the　lower　grades　than　to　the　higher。　Latterly；
  under　the　rule　of　business　principles；　since　the　prestige　value
  of　a　conspicuous　consumption　has　come　to　a　greater　currency　in
  academic　policy；　a　member　of　the　staff　may　render　his　tenure　more
  secure；　and　may　perhaps　assure　his　due　preferment；　by　a　sedulous
  attention　to　the　academic　social　amenities；　and　to　the　more
  conspicuous　items　of　his　expense　account；　and　he　will　then　do
  well　in　the　same　connection　also　to　turn　his　best　attention　in
  the　day's　work　to　administrative　duties　and　schoolmasterly
  discipline；　rather　than　to　the　increase　of　knowledge。　Whereas　he
  may　make　his　chance　of　preferment　less　assured；　and　may　even
  jeopardize　his　tenure；　by　a　conspicuously　parsimonious　manner　of
  life；　or　by　too　pronounced　an　addiction　to　scientific　or
  scholarly　pursuits；　to　the　neglect　of　those　polite　exhibitions　of
  decorum　that　conduce　to　the　maintenance　of　the　university's
  prestige　in　the　eyes　of　the　（pecuniarily）　cultured　laity。
  A　variety　of　other　untoward　circumstances；　of　a　similarly
  extra…scholastic　bearing；　may　affect　the　fortunes　of　academic　men
  to　a　like　effect；　as；　e。g。；　unearned　newspaper　notoriety　that　may
  be　turned　to　account　in　ridicule；　unconventional　religious；　or
  irreligious　convictions　　so　far　as　they　become　known；　an
  undesirable　political　affiliation；　an　impecunious　marriage；　or
  such　domestic　infelicities　as　might　become　subject　of　remark。
  None　of　these　untoward　circumstances　need　touch　the
  serviceability　of　the　incumbent　for　any　of　the　avowed；　or
  avowable；　purposes　of　the　seminary　of　learning；　and　where　action
  has　to　be　taken　by　the　directorate　on　provocation　of　such
  circumstances　it　is　commonly　done　with　the　（unofficial）　admission
  that　such　action　is　taken　not　on　the　substantial　merits　of　the
  case　but　on　compulsion　of　appearances　and　the　exigencies　of
  advertising。　That　some　such　effect　should　be　had　follows　from　the
  nature　of　things；　so　far　as　business　principles　rule。
  In　the　degree；　then；　in　which　these　and　the　like　motives　of
  expediency　are　decisive；　there　results　a　husbanding　of　time；
  energy　and　means　in　the　less　conspicuous　expenditures　and　duties；
  in　order　to　a　freer　application　to　more　conspicuous　uses；　and　a
  meticulous　cultivation　of　the　bourgeois　virtues。　The　workday
  duties　of　instruction；　and　more　particularly　of　inquiry；　are；　in
  the　nature　of　the　case；　less　conspicuously　in　evidence　than　the
  duties　of　the　drawing…room；　the　ceremonial　procession；　the　formal
  dinner；　or　the　grandstand　on　some　red…letter　day　of
  intercollegiate　athletics。（4*）　For　the　purp