While the general administration of the funds and awards rests with the Nobel Foundation, consisting of five persons (“one of whom, the President, shall be appointed by the King and the others by the delegates of the adjudicating corporations”) the specific work of investigation and judgment rests with the organization cited in the will. In literature, the “prizes are assigned” by the Swedish Academy, after careful investigation by its members, and the assistance of the Nobel Institute and Librarian. A large collection of books, mostly of modern writings, forms the Library. In all languages, translations, when necessary, are found here, also reports concerning works of recent publication. The Swedish Academy was founded by King Gustavus III in 1786. It has devoted itself to “the arts of elocution and poetry, to the preservation of purity, force and elevation of diction in the Swedish language both in scientific works and products of pure literature.” Annual prizes have been offered, for scores of years, in elocution and poetry. Eighteen members, all Swedes, comprise this Academy, of which the King is patron. He appoints the Inspector of the Nobel Institute of the Swedish Academy but its “immediate management is by a member of the Academy, chosen by that body.” Two conditions of the will of Alfred Nobel have been faithfully followed--the recipients in all branches have done something (if not “most”) “to benefit humanity”; in the second place, “no consideration whatever has been paid to the nationality of the candidates,” in the way of favoritism. The most reasonable criticism of the awards, especially in literature, has been a failure to carry out what seems to have been the assumed, but not expressed, desire of the donor, namely, to _stimulate_ work as well as to _reward_ past achievements. Otherwise, why that puzzling phrase about “the year preceding”? Not wholly without foundation is the comment that too many of the awards in literature have been “tombstones rather than stepping-stones.” Many of the earlier recipients were past seventy, with productive faculties low, before the honor. It is a satisfaction to the public to know that a worthy writer has had world recognition before he dies, and that his last days may have many comforts possible through the financial award of about $40,000--but such conditions do not seem in accord with the spirit of the Nobel will and the attitude of the donor toward creative work. The awards have been too often retroactive rather than stimulating to further writing. Other winners, as will be noted later, have accomplished vigorous literature, _after_ the award as well as _before_ the honor.