Consecrated Finance

Philanthropy, no longer merely an expansion of good Samaritanism, now resembles an exact science. The famed Carnegie and Rockefeller Foundations apply the precision of the laboratory to the study of human welfare and what money can do to promote it.

Last week the general council of the Presbyterian Church in the U.S.A. approved plans for a Presbyterian Foundation, similar to the Rockefeller and Carnegie institutions, which will enable beneficent Presbyterians to entrust their money to a corps of philanthropic experts. If the plan is approved by the Presbyterian General Assembly, meeting in Cincinnati in May, organization will follow.

Tentative plans call for 100 members, with a self-perpetuating executive committee of 15--"massing the best business talent of the church for the wisest possible handling of consecrated funds." The Foundation will not interfere with the annual Presbyterian benevolence budget (about $12,000,000), but will seek contributions from people who would not ordinarily give to mission boards and other church departments. Work anticipated: assistance to colleges, hospitals, seminaries, medical missions; disaster relief.

Originator and probably first president of the Presbyterian Foundation is George Draper Dayton, 73, Minneapolis merchant (his department store employs 2,000), president of Dayton Investment Co., a civic philanthropist long active in farm promotion, land reclamation.

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