HYDE PARK—The jinx on last Thursday's travels seemed to come to an end and we got back from Texas safely and moderately on time on Friday morning. Three quarters of an hour late seemed to me to be practically on time after the preceding days!

I reached home just in time to swallow a cup of tea and then dash up for a short meeting with the Mayor and Commissioner Patterson. Since then I have been, as usual, catching up on neglected mail which came while I was away.

I would like to mention to you a program that has recently been started at Yeshiva University. It is a teaching fellowship program in the graduate school of education, and it opens this summer. The object is to train teachers, and eight public school systems and a private school will co-sponsor the program. The Fund for the Advancement of Education has granted $500,000 to Yeshiva University to develop this experimental teacher training school. Students with baccalaureate degrees or their equivalent will be admitted to the project. In addition to June graduates, persons who have obtained their degrees in previous years and now wish to go into teaching will also be eligible.

Fifty-five teaching fellowships have been made available, and the schools will pay the students $2,000 or about one-half the annual beginning salary. Half of the students' time will be given to the school and the rest to academic study at the college. In other words, the college of education will utilize the school for the training centers of the teaching fellows. The first fellow to be accepted was Donald J. McLaughlin of White Plains, a graduate of Fordham University.

This seems to me a very fine opportunity, and Dr. Otto Krash who is in charge of the teaching fellowship program will, I am sure, give great opportunity and inspiration to the students who come to Yeshiva University to prepare themselves as teachers.

I have just been reading a pamphlet issued by the Conference on Economic Progress in Washington, D.C. It is called "Consumption—Key to Full Prosperity." I found it a pamphlet which would be of interest to any layman anxious to understand current economic trends but who, like myself, is not an economist. If you happen at the same time to be reading Arthur Schlesinger's "The Roosevelt Era" and will re-read the chapters covering Mr. Hoover's administration and the economic conditions leading up to the debacle of `29 and `30, you will find some interesting analogies and question whether there is not importance in a review of the past in the light of the present. We have safeguards today, of course, that were lacking then; but we still could have trouble, and it should be averted. This pamphlet makes some interesting suggestions.