Guy Monson of Sarasin Investment with DrFelicity Heal, Chair of the History Faculty Board, at Jesus College, Oxford, 18 August 2002

Under the new university constitution of 2001, the History Faculty took on the responsibility for its own finances. This healthy discipline has allowed for a number of new initiatives designed to multiply the sources of our funds, under the general direction of the new Humanities Division; and not a moment too soon, as constraints upon university funding from public sources have made it necessary to freeze essential posts for a number of years as they become vacant. The disruptive effect both on college teaching and on faculty instruction, not to mention historical research work, has been painfully obvious since the University was forced to adopt this dismal regime.

The Faculty Board resolved to treat this situation as a challenge. One of its best assets has always been the quite remarkably successful body of graduates in Modern History and in the associated joint degrees, whose careers in the financial and commercial worlds and in the various walks of public life have been enhanced by the imaginative reach and critical spirit inherent in an historical education. It can hardly be doubted that there is a distinct relationship between historical insight and the intelligent development of the nation's (or other nations') assets; and it follows that institutions who have profited by using the talents of Oxford historian graduates have a real interest in maintaining the quality of this resource. Members of the Faculty Board were encouraged to develop this line of thought by some of their former students in the City, and in particular by Mr Guy Monson of Sarasin Investment Management, who has been a staunch and far-sighted friend of the Faculty.

The Board has now set up the Friends of Oxford History, so that institutions or individuals can sponsor the early refilling of fellowships and lecturerships, with a commitment for a limited number of years (about four or five). The first sponsorship has come from Sarasin, who have generously underwritten the Fellowship in Modern German History at St Antony's; this has allowed the College and the Board to fill it immediately, which is a great advantage to both institutions. At the same time, underlining the common interest of city institutions and the Oxford History Faculty, Sarasin have arranged seminars at their offices at which members of the Faculty have spoken on themes of current interest with an historical dimension. At the time of writing two have taken place: at the first, Professor Avner Offer took the theme of deflation in its historical context, which aroused considerable interest; and at the second, which took the same theme from a different angle, Professor Niall Ferguson talked about opportunities in a deflationary world in their historical perspective, with equal success. Both presentations were extremely well received, and further seminars have been arranged.

Other sponsorships are in gestation. Any reader who would like to be a Friend of Oxford History, and to sponsor either as an individual or group of individuals, or on behalf of an institution, the refilling of a Faculty post is invited to communicate with the Faculty Administrator (Mrs Lucy Hodson) at History Faculty, Broad Street, Oxford OX1 3BD, or lucy.hodson@history.ox.ac.uk. Our readers can be confident that by guaranteeing the continuity of Faculty posts they will be performing a service not only to the University but to every walk of life which has been enhanced by an historical education.

Jeremy Catto
Oriel