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In the 1947 annual report, the librarian wrote that the library needed to hire a dozen catalogers, and Vail pointed out that "the circumstances of history have left us with amazingly rich resources but without adequate funds for their prepa­ration and processing. Most of the library still lacks adequate cataloguing." Sig­naling the importance of cataloging to the Society's long-term success, Vail hired additional catalogers in the library even as five staff positions elsewhere in the Society were eliminated. Vail wrote: "Since it is the chief function of the Society to give aid to American historical students and writers through our library, that department has been somewhat enlarged so that we may provide better Reading Room service and begin the task of processing our century-old backlog of uncatalogued books."

As the Society entered the 1950s, it was emerging from a difficult period in which its aspirations had begun to exceed its financial resources. Its already diffi­cult mandate to operate both a library and a museum was exacerbated by pres­sures to provide educational programming to the public. Committed to avoiding operating deficits, the Society held down salaries and even laid off some em­ployees. The financial squeeze strained what management regarded as its core mission and forced the Society to make difficult strategic decisions. Cuts were made in some areas to divert resources to more important initiatives. What remained to be seen was whether these decisions were part of a fundamental strategic change— a reframing of the Society's goals, objectives, and mission—or merely isolated reactions to the specific problems of a particular time.

Golden years, 1950-1960

It would not take long for the answer to become clear. Just when the Society was being forced to narrow its programmatic focus, relief came on the revenue side from the extraordinary performance of the financial markets. Beginning in 1949, the stock market offered tremendous returns for investors. Over the period from 1949 to 1958, the average annual compound rate of return for stocks was 17.9 percent. Out of those ten years, there were only three years when the total real return averaged less than 10 percent: 1953, 1956, and 1957 (see Table 3.1). On the plus side, there were some truly remarkable years: 1954, 1955, and 1958.

Kennedy and Schneider (1994, pp. 19, 29).

It is clear from the annual reports that management's mood mirrored the per­formance of the market. During the difficult period of the late 1940s, stock mar­ket returns were poor. By 1952, after four years of annual returns in the markets that averaged nearly 20 percent, the worries and concerns of the late 1940s had disappeared. In his 1952 report to the board, Vail wrote, "We are proud that an ever-growing clientele comes to us for the aid our trained staff can supply from our rich historical treasures. . . . Our affairs are in good order and each year we are better able to bring a knowledge of America's history, aims and ideals to our people and especially to those new citizens who want so much to understand their adopted country and their new loyalties and responsibilities." In addition to the more positive tone prevalent in Vail's statement, note also that management's focus had once again broadened beyond the service of scholars and researchers. The goal of public education had recaptured its place of importance on the Society's agenda. Indeed, despite his earlier statements, Vail wrote in 1953 that "an edu­cational institution such as ours, to be worth its salt, must have a vigorous and growing program of service to the community and to the nation."

Questions & Answers

Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
types of nano material
abeetha Reply
I start with an easy one. carbon nanotubes woven into a long filament like a string
many many of nanotubes
what is the k.e before it land
what is the function of carbon nanotubes?
I'm interested in nanotube
what is nanomaterials​ and their applications of sensors.
Ramkumar Reply
what is nano technology
Sravani Reply
what is system testing?
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, The new-york historical society: lessons from one nonprofit's long struggle for survival. OpenStax CNX. Mar 28, 2008 Download for free at http://cnx.org/content/col10518/1.1
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