The opinions of Felix M. Warburg and Percy S. Straus on the idea expounded recently by Julius Rosenwald to eliminate the “dead hand” from foundations established by philanthropists, are quoted by the “New York World” in a symposium made by the newspaper among leading American philanthropists.
“I have read Mr. Rosenwald’s article and surely agree with the philosophy of his giving,” said Mr. Warburg. “We have discussed quite frequently the great advantage of executing one’s will during one’s lifetime, so as to make sure that the intentions are followed out as planned, without giving one’s executors or children the whole responsibility for such enterprises.
“The idea of not creating endowment funds tied up forever is more than sound, and both Mr. Rosenwald and Mr. Rockefeller are planning their gifts in such a way that if, at one time or another, conditions change, the funds can be made applicable for such purposes as may then be most urgent.
“Mr. Rosenwald has been an inspiration for many people, and I, as one of his old admirers, marvel at the many-sidedness of his interests and his wisdom in giving as well as his modesty in doing so.”
“I am a great believer in free endowment,” declared Percy S. Straus, who is Chairman of the Executive. Committee of the Centennial Fund of New York University and active in many charitable enterprises. “Leaving out of account substantial sums which must be used definitely for new buildings and the maintenance of a physical plant, contributions should, in so far as possible, take the form of free university endowment. In this way endowment can be made to serve a more vital purpose and will be more active reminder of the giver than it would be if tagged with some objective which might soon be antiquated.”
Cleveland E. Dodge, President of the New York City Y. M. C. A.; Richard W. Lawrence, President of the Bankers’ Commercial Security Company and Vice-President of the New York Y. M. C. A.; John A. Kingsbury, Secretary of the Milbank Memorial Fund; Dr. Elmer Ellsworth Brown, Chancellor of New York University; Ralph Hayes, Director of the New York Community Trust; William Hodson, Executive Director of the Welfare Council in Greater New York, and George J. Hecht, editor of “Better Times,” welfare magazine, agreed with Mr. Rosenwald’s principle.
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