Part 1 - The Institute Libraries - Institute for Advanced Study

'1 have thought over yaur kfnd invitation, and I shall accept.
In my jud-mnt, there is no place in Europe or America
where a school of eeonmics or politics has been formed
in such wise that econmics can be placed on the level of
scientific medicine or any of the exact sciences. Our =in
&iff iculty in the present crisis is that nobody knms anything,
and we cannot in the midst of this storm find the truth
in a hurry. As I understand it, you ere proposing to create
for eeonorists the conditions which are enjoyed by physfcists,
rathematiclans, etc. If you do, it will make a new era in the
world, and I shall be very, very proud to contribute my experience
both as professor znd as business mn to the slow
upbuilding sf such an enterprise. '9
Mr. Bamberger showed his epproval in one of his rase letters.
As Mrs. Fuld agreed to take care of the correspondence, I
kve kept in the background. I am now making an exception
to aur rule to say that ue appreciate the new prospective
Trustees. They will add influence and prestige to the In-
stitute.10
The DisectorVs reference to the differing points of view df the
new Trustees was a masterpiece of understatement. They were unlike fn
personality, temperament, politics, professional experience and objectlves.
Hr, Stewart was quiet, almost shy, self-effacing, but firm and decisive
nevertheless. Frankfurter was ebullient, vocal, witty. Stewart counseled
fev; he was reluctant to give advice, and sverse to *king a record.u Hr.
Frankfurter was quick to advise, eager to see his counsel followed. Bath
men era of small stature physically. Stewart was dignified, charming and
reserved to the point of mystery. Frankfurter has been well described by
Arthur N, Schfesiaiger, Jr.:
quick, articulate, jaunty...fnexhaustible in his energy and
curiosity, giving off sparks-..He loved people, loved mnrer-
sation, lwed influence, loved Effe. Beyond his sparkling
~ersonal qualities, he had an erudite end incisive legal in-
telligence, a resourceSuL approach to questions of public
pollcy, end a passion for raising standards of public service.
And, to make these things effective, he b d what Mr. Jllstice
Holmes had not unkindly described in 1920 as 'an unimaginable
gift for wiggling in wherever he wants to.'ll