f the trustees of this fund (The Carnegie Trust for
the Universities of Scotland) was held in the Edinburgh office of the
Secretary of State for Scotland in 1902, Lord Balfour of Burleigh
presiding. It was a notable body of men--Prime Minister Balfour, Sir
Henry Campbell-Bannerman (afterwards Prime Minister), John Morley (now
Viscount Morley), James Bryce (now Viscount Bryce), the Earl of Elgin,
Lord Rosebery, Lord Reay, Mr. Shaw (now Lord Shaw), Dr. John Ross of
Dunfermline, "the man-of-all-work" that makes for the happiness or
instruction of his fellow-man, and others. I explained that I had
asked them to act because I could not entrust funds to the faculties
of the Scottish universities after reading the report of a recent
commission. Mr. Balfour promptly exclaimed: "Not a penny, not a
penny!" The Earl of Elgin, who had been a member of the commission,
fully concurred.

[Illustration: ANDREW CARNEGIE AND VISCOUNT BRYCE]

The details of the proposed fund being read, the Earl of Elgin was not
sure about accepting a trust which was not strict and specific. He
wished to know just what his duties were. I had given a majority of
the trustees the right to change the objects of beneficence and modes
of applying funds, should they in after days decide that the purposes
and modes prescribed for education in Scotland had become unsuitable
or unnecessary for the advanced times. Balfour of Burleigh agreed with
the Earl and so did Prime Minister Balfour, who said he had never
heard of a testator before who was willing to give such powers. He
questioned the propriety of doing so.

"Well," I said, "Mr. Balfour, I have never known of a body of men
capable of legislating for the generation ahead, and in some cases
those who attempt to legislate even for their own generation are not
thought to be eminently successful."

There was a ripple of laughter in which the Prime Minister himself
heartily joined, and he then said:

"You are right, quite right; but you are, I think, the first great
giver who has been wise enough to take this view."

I had proposed that a majority should have the power, but Lord Balfour
suggested not less than two thirds. This was accepted by the Earl of
Elgin and approved by all. I am very sure it is a wise provision, as
after days will prove. It is incorporated in all my large gifts, and I
rest assured that this feature will in future times prove valuable.
The Earl of Elgin, of Dunfermline, did not hesitat