Part 1 - The Institute Libraries - Institute for Advanced Study

ultiaately a budget of $100,000 a year, and a lesser amount for fiscal
1936. He believed the Rockefeller Foundation would finance the services
of various experts for short periods of work in Princeton. They could
hardly be spared from their present duties for more extended participa-
tion, he felt.
Professor Riefler had also conceived and explored an interest-
ing eqeriment furthering the lines Flexner had laid down in discussing
the cooperation between the Institute and the University. It resenbled
the practices among the universities of the German-speaking peoples of
the Erpire period, in which the several institutions exhibited marked
advantages for the student in certain disciplines, because of outstand-
ing faculty, or facilities such as laboratories and libraries. Indeed,
it foreshadowed the so-called "comon market in ideas" currently being
pursued by some Mid-Westem Arr.erican universities which receive students
from any cooperating institution, recognizing that all cannot be equally
excellent in all fields of graduate study. President Dodds welcomed
Riefler's suggestion that Princeton -- the University's graduate school
and the Institute -- might well in their advanced work in ewnanics
specialize in finance, and was prepared to shape the graduate faculty
to that end. 73
The memorandum makes it abundantly clear that Professor Biefler
expected an authorization to carry out the work it described. But n w
it was to appear that the one person whom he cheracterized as "friendly,
but not enthusiastic," was standing in the way, either because of his
quiet advice to the Director not to move on it with Mr. Bamberger, or
because as a most influential Trustee of the Rockefeller Foundation he