E4D: The Only Moral Fund

To the Editors of the Crimson:

We are writing to take issue with statements' made by Senior Class Gift/Harvard College Fund chairpersons Kelly Klegar and Robert Keane. As reported in The Crimson on February 9 and in their letter to the editors published February 12, Ms. Klegar and Mr. Keane wrongfully assert that donations to the Harvard College Fund through the Senior Class Gift do not support Harvard's purchase of South Africa-related stocks. In fact, these donations offset funds which would otherwise be diverted from the University's investment income to cover operations and financial aid expenses Contributions to the Senior Class Gift permit this income from portfolio investment to be reinvested in stocks It is a fallacy to suggest that gifts to the Harvard College Fund do not bolster the University's misguided investment policy regarding companies that strengthen and legitimize the South African regime.

As members of the Coordinating Committee of the Endowment for Divestiture (E4D), we would like to express our differences with Ms. Klegar and Mr. Keane on one other point. They assert that there is no contradiction-in giving to both funds. We disagree. In believing that contributions to the Harvard College Fund indicate tacit support of the University's current South Africa investment policy, we call upon seniors to examine the merits of the issues involved and to consider denating to Harvard only through the Endowment for Divestiture. We sincerely hope that this money will go towards undergraduate education. The money in E 4D is carmarked for the Harvard Scholarship Fund so lone as Harvard reforms its South Africa policy by the year 2003. Of course, E4D accepts donations from all quarter, including members of the Senior Class Gift Committee.

We would also like to add out voices to Mr. Keane and Ms. Klegar's support for continued need-blind admissions. We would not ask for changes in the University's portfolio investments if we felt these changes would be detrimental to the College's. Financial position or would threaten financial aid. Divestiture can be accomplished in such a way as to minimize financial risk to the University. Catherine Schuyler '85.   Claude Convisser '85.   Members of the Senior Donations Committee of the Endowment for Divestiture.