50Years New York University SCHOOL OF COMMERCE, ACCOUNTS, AND FINANCE WASHINGTON SQUARE, NEW YORK December 12, 1950 Professor Ludwig von Mises 777 West End Avenue New York 25, New York Dear Professor von Mises: Yesterday I met and talked with Dr. Joseph H. Willits of the Rockefeller Foundation with respect to the Institut Universitaire de Hautes Etudes Internationales at Geneva. Dr. Willits was very cordial and said that the Rockefeller Foundation regarded its contributions as venture capital, that after helping an institution for a time they felt that the institution should stand on its own feet. I got the impression that this was not a decision made by Dr. Willits but one made by his Board and one which he is administering. He said that he had felt very much concerned about the Institut to the extent that he had himself personally tried to secure other funds for the Institut, but that he had not been successful. He spoke in the highest terms of the Institut and Professor Rappard. He said, furthermore, that we could quote him, Dr. Willits, on this matter and say that the Rockefeller Foundation approved in every way and to the highest degree of the Institut's activities. I think that we should have a meeting of our little informal committee sometime between now and Christmas, and in accordance with your suggestion, I am contacting Professor Hudson at once. If Professor Hudson cannot meet with us be- fore Dr. Heilperin has to go to Europe, I think we should have a meeting without Professor Hudson so that Dr. Heilperin can take the latest information with him in anticipation of a meeting with Professor Rappard at Geneva. Very trul yours, E. Pratt Professor of Foreign Trade P.v Room 329 School of Commerce