b/c Dr. Ludwig von Mises FREDERICK NYMEYER, 16546 South Park Avenue, South Holland, Illinois, U.S.A. April 22, 1965 Mr. Clayton Gaylord President Ingersoll Milling Machine Company Rockford, Illinois Dear Mr. Gaylord: I have received the April 19, 1965 report of the Trustees of the American School of Economics. In regard to the $10,000 which I contributed years ago, there were no strings attached to that; therefore, whatever is decided does not need to be submitted to me as one of the principal givers for my approval. * I concede somewhat sadly that ASE has not accomplished much; maybe we ought to give up; however, I consider perseverance a great quality and I consequently would not "just quit unless there were some positive reasons for doing 80. I think I would endeavor to continue the present Charter. Nor do I think that our non-success should result in our lowering our sights. In my opinion our sights were not too high at any time. In my view we ought to set ourselves up as a graduate school, granting graduate degrees, which would finally be as good or better than any in the world. I recommend we have some high courage and see what happens -- UNLESS you have POSITIVE information that our group is unqualified or divided so that we cannot really proceed. with kindest regards, Yours very truly, Frederick Nymeyer FN:wb c/c Mr. John T. Brown c/o Falk Corporation 3001 West Canal Milwaukee, Wisconsin