Part 1 - The Institute Libraries - Institute for Advanced Study

economists could visit to talk about their problems. Much time and
energy were consumed in going back and forth to Hillside. That his sit-
uation was not satisfactorily explained -- nor could be -- to faculty and
Trustees led to much grumbling. Professor Veblen dubbed him "a man of
affairs," and the title stuck. It was an unfriendly appellation in an
academic context. But theIdeenest disappointments inhered in the failure
of his important program to receive support. The exploration of projects
at the Bureau was done with funds supplied by the private bankers. The
resulting projects were largely financed by the same group, with aid
from insurance companies and the Rockefeller Foundation, and special help
from some governmental agencies. These rere special projects and funds,
not part of the Bureau's regular financing or work. The conditions were
markedly unlike working in a sovereign institution which, though small,
could accept or decline assistance as itvished.
But his lot was not unalloyed dissatisfaction. He had undertaken
work at Geneva with the Secretariat of the League of Natior., sitting
with the Cornittees on Finance and Business Depressions, which gave
him valuable insights. His participation continued until 1941, when he
was mainly instrumental in bringing to Princeton the League's Division of
Finance and Transit of the Secretariat, vith Dr. Aydelotte's delighted co-
operation and Dr. Flexner's blessings. This made possible the continuation
of its work, and its ultimate absorption into the United Nations. The econ-
omist was also called into consultation on occasion by the Secretary of the
Treasury; in one such case, he guided the gold-buying program of the govern-
ment from June, 1937 until March, 1938, serving without compensation except
for his salary from the Institute and government reimbursement for his