A graduate of Williams who taught for twelve years at Harvard before assuming the presidency of his old college, JAMES PHINNEY BAXTER has been fighting to overcome the losses in faculty and in funds which every college, large or small, has sustained, thanks to inflation and the war. During his years in Washington, first with the OSS and then with the OSRD, President Baxter saw how able teachers were drawn into private industry and government research, many of them never to return. The financial burdens of a college president have seldom been more candidly presented.