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From the introductory remarks for commencement ceremonies, University of Buffalo, June 10, 1931 (Samuel P. Capen Papers, 1894-1955, 4/7/19, #21.28):
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But does this mean that university diplomas are valueless? Not at all. They are among the most valuable possessions that men and women accumulate. They are valuable as symbols; symbols of difficult and prolonged tasks successfully accomplished, symbols of association with a University of long and honorable history and of ever-growing prestige, symbols of membership in the limited company of those who have had the privilege of higher education.
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DETAIL, Samuel P. Capen in the academic procession, dedication of Foster Hall, 1922
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