A PROGRESSIONAL RECORD

It has become a truism to speak of America as the wealthiest nation in the world. But the philanthropic disposal of that wealth, in part at least, has taken place in many lands and for many humanitarian purposes. Funds have been organized to aid the cause of world peace and international amity; others, such as the recent bequest for the Harvard-Yenching Institute, have been put at the service of cultural relationships. Still other awards promote American ideals and business standards.

Of the latter type are the Harvard Advertising Awards offered since 1923 by Edward W. Bok. The most highly coveted of these is the Gold Medal for Distinguished Contemporary Service, which was presented to James H. McGraw, in recognition of a lifetime spent in endeavor to raise the standards of American advertising. His speech of acceptance, it is worthy of note, dealt with the functions and economic values of the industry as well as its responsibilities.

From the character of Mr. McGraw and from the representative body of men which constitute the jury for the 1927 awards, the significance of the Bok fund in the commercial world may be seen. Even those who delight in the somewhat stale pleasure of Babbitt-baiting cannot deny that economic solidity is necessary to cultural progress and that the high standards by which that solidity is maintained are worthy of perpetuation by competition.