100 CARNEGIE INSTITUTION OF WASHINGTON. 



distinguished of German economists, refers to our work in an important 

 article contributed by him to the " Handworterbuch der Staatswissen- 

 schaften" (vol. viii, pp. 453-454). He describes Professor Commons's 

 Documentary History as "an exceedingly valuable publication of 

 documents." Regarding the more specific task of this department, 

 he says : "In twenty-five years a monumental work in economic history 

 will have been created such as hardly another country possesses.'' 

 Similarly the late Professor Callender, in an article on American eco- 

 nomic history published in the American Historical Review (vol. xix. 

 No. 1, p. 94) says: 



"The immediate need is for the same careful, painstaking study of economic 

 activity which historians have given to political activity. We are fortunate 

 in possessing in the Department of Economics and Sociology in the Carnegie 

 Institution of Washington a well-organized and subsidized enterprise designed 

 to accomplish precisely this work. For a decade it has been stimulating 

 investigations by grants of money and seeking to initiate and guide them by 

 its organization. To a large extent it is responsible for the work which has 

 been done during that period, and a glance at the results of its activities affords 

 striking evidence of the progress that has been made." 



He then gives some general facts regarding our monographic work 

 and outlines the three important types of special study which ought 

 to be multiplied in order to prepare the way for an economic history 

 of the country. In examining how far these types have been developed 

 he points out many topics not yet treated and says (pp. 96-97) : 



"It is clear from this brief survey that the work of investigation needs to be 

 carried much further and to be systematized so that the most important sub- 

 jects shall receive most attention. It is to be hoped that the Carnegie Insti- 

 tution will not relax its efforts to stimulate and direct such work. A closer 

 organization of the collaborators, with a more definite plan of the work v/hich 

 they are seeking to produce, would be likely to secure more valuable results." 



Upon the death of Colonel Wright, February 20, 1909, it became 

 necessary to fill his place, and the future of the Department was 

 considered at a conference with the President of the Institution. The 

 collaborators were now infonned that the Carnegie Institution was 

 not in a position financially to make any considerable additional 

 appropriations towards the work. It also appeared that the trustees 

 expected to have the whole completed in a much shorter time than 

 had been thought possible by Colonel Wright and his colleagues. 

 Moreover, the fonn of organization which had been adopted by this 

 Department was very different from that which had become the 

 standard in other Departments. It should be said here that this 

 organization has the defects of its qualities. It is economical in that 

 it enables us to secure the advice and services of speciahsts without 

 paying them salaries. On the other hand, it lacks responsibility and 

 permanence. These defects became more pronounced in the course of 

 time, as several of those who had undertaken the direction of divisions 

 were called upon to assume new duties and thus found themselves 



