REPORT OF THE PRESIDENT, 1919. 9 



number, to modify the conditions and regulations under which the funds 

 may be dispensed, so as to secure that these shall always be applied in the 

 manner best adapted to the changed conditions of the time." 



In the deed of trust establishing the Endowment for the 

 promotion of International Peace, under date of December 14, 

 1910, the same idea with respect to administration is stated with 

 increasing emphasis : 



* 'Lines of future action can not be wisely laid down. Many may have to 

 be tried, and having full confidence in my Trustees I leave to them the widest 

 discretion as to the measures and policy they shall from time to time adopt, 

 only premising that the one end they shall keep unceasingly in view until it 

 is attained, is the speedy abolition of international war between so-called 

 civilized nations." 



And finally, under date of November 10, 1911, in his deed 

 founding the Carnegie Corporation of New York, this precept is 

 given still more emphatic expression : 



"Conditions upon the earth inevitably change; hence, no wise man will 

 bind Trustees forever to certain paths, causes or institutions. I disclaim 

 any intention of doing so. On the contrary, I give my trustees full authority 

 to change policy or causes hitherto aided, from time to time, when this, in 

 their opinion, has become necessary or desirable. They shall best conform 

 to my wishes by using their own judgment." 



Herein may be found the key to the relations Mr. Carnegie 

 sustained to the Institution, and the principal key hkewise to 

 the successes he attained in the great industrial and philanthropic 

 enterprises to which his energies were mainly devoted. He did 

 not seek to dominate, or even to guide, his trustees. He sug- 

 gested fields for exploration and cultivation; but he committed 

 the more difficult details of elaboration and development, with 

 the largest liberties, to those who could give them direct and 

 continuous attention and assume accountability for the outcome. 

 He was thus able at once to enhst the cooperation of superior 

 coadjutors and to secure the prime requisites for administrative 

 efficiency, namely, authority to act and coordinate responsibility. 



Close adherence to this attitude on the part of Mr. Carnegie 

 has been of the greatest advantage to the Institution. Initially 

 it was a subject of the most varied and contradictory conjecture 

 and expectation. In its earUer years it was often facetiously 

 remarked that one might quote equally eminent opinion on all 

 sides of every question concerning its possibilities. A vastly 

 greater volume of excellent advice was available than could pos- 



