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FINANCIAL ADMINISTRATION SECTION 1. The fiscal year of the association shall commence on the first day of July in each year.

SECTION 2. The Executive Committee, at least one month prior to the annual meeting in each year, shall cause the accounts of the association to be audited by a skilled accountant, to be appointed by the president, and shall submit to the annual meeting of the Board of Trustees a full statement of the finances and work of the association, and shall mail to each member of the Board of Trustees a detailed estimate of expenses and requirements for appropriation for the ensuing fiscal year, thirty days before the annual meeting.

SECTION 3. The Board of Trustees at the annual meeting in each year shall make general appropriations for the ensuing fiscal year, and may make special appropriations from time to time.

SECTION 4. The securities of the association and other evidences of property shall be deposited under such safeguards as the Trustees or the Executive Committee shall designate; and the moneys of the association shall be deposited in such banks or depositories as may from time to time be designated by the Executive Committee.

ARTICLE XI These by-laws may be amended at any annual or special meeting of the Board of Trustees by a majority vote of the members present, provided written notice of the proposed amendment shall be personally served upon, or mailed to the usual address of, each member of the Board at least twenty days prior to such meeting.

ARTICLE XII The Executive Committee is hereby empowered to accept, on behalf of the association, a charter of the tenor and form reported by the Judiciary Committee of the House of Representatives to the House on the third day of February, 1911 (H. R. 32084, “To incorporate the Carnegie Endowment for International Peace”), and laid before the Trustees of this association on the ninth day of March, 1911, with such alterations and amendments thereto as may be imposed by Congress and are not, in the judgment of the Executive Committee, inconsistent with the effective prosecution of the purposes of the association.

Upon the granting of such charter the property and business of the association shall be transferred to the corporation so formed and a meeting of the Trustees shall be called for the purpose of regulating and directing the further conduct of the business by the corporation.


The Board of Trustees in accepting their responsibility gave serious thought to the task before them and studied projects of the same nature, ancient and modern, before developing a general plan of work. In Article II of the Articles of Association the purposes of the Endowment were laid down in seven postulates upon which, on March 9, 1911, the Executive Committee established three Divisions, each with a Director in charge, as follows:

DIVISION OF INTERCOURSE AND EDUCATION To diffuse information, and to educate public opinion regarding the causes, nature and effects of war, and means for its prevention and avoidance.

To cultivate friendly feelings between the inhabitants of different countries, and to increase the knowledge and understanding of each other by the several nations.

To maintain, promote, and assist such establishments, organizations, associations and agencies as shall be deemed necessary or useful in the accomplishment of the purposes of the corporation or any of them.

DIVISION OF INTERNATIONAL LAW To aid in the development of international law, and a general agreement on the rules thereof, and the acceptance of the same among nations.

To establish a better understanding of international rights and duties and a more perfect sense of international justice among the inhabitants of civilized countries.

To promote a general acceptance of peaceable methods in the settlement of international disputes.

DIVISION OF ECONOMICS AND HISTORY To promote a thorough and scientific investigation and study of the causes of war and of the practical methods to prevent and avoid it.

The administrative work of the Endowment, as a whole, is conducted at the Washington, D. C., headquarters under the supervision of the Secretary aided by the Assistant Secretary.

The receipt and distribution of funds are shown in detail each month in the printed reports of the Treasurer. All expenditures by the Endowment, both in the United States and foreign countries, are made through the Secretary's office, where the vouchers and checks for the signature of the Treasurer are prepared.

The table on page 37 shows the expenditures of the Endowment by fiscal years and by Divisions, from its foundation in 1911 to Dec. 31, 1923.

A list of the publications of the Endowment may be found at the end of this document. Unless otherwise indicated the work of editing for the printer, proof-reading and publishing of these documents is done in the Secretary's offices. This includes translation from French, Spanish, German, Italian and other foreign languages because of the polyglot sources from which the material for publication is procured.

In addition to supervising the printing, the Secretary's Office also attends to the distribution of the Endowment's publications. Two general classes of publications are issued: books and pamphlets intended for general circulation, which are distributed gratuitously, within the limits of the editions, upon application to the Secretary; and publications upon special topics prepared in the Divisions of International Law and Economics and History which are sold at nominal prices through the Endowment's publishers, The Clarendon Press at Oxford, England, the American Branch of the Oxford University Press at 35 West 32nd Street, New York City, and the Yale University Press at New Haven, Connecticut. All publications are sent gratuitously to a carefully selected chain of libraries, geographically distributed throughout the world and serving important centers of population and education. The books are deposited for the free use of all responsible applicants, and it is through these depositories that the Endowment aims to supply the public with the results of its investigations. The depository list now totals 809.

The number of volumes and pamphlets published since the organization of the Endowment amounted, on December 31, 1923, to 837,568, of which 639,668 had been disposed of either gratuitously or by sale. The table on page 38 contains a summary of the distribution of these publications showing the office in


which the publication originated, the size and cost of publication, exclusive of the preparation of the manuscript, the number of copies sold, and the number distributed gratuitously.

The library, with which is combined the general information bureau, is one of the most important auxiliaries of the Secretary's office. It is one of the most complete libraries in Washington on international law, the peace movement and the literature of the World War. The public is freely accorded its use and it has a constantly increasing patronage of private and official students, It contains 25,168 titles, properly catalogued and shelved.

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