New Republic Windfall

Seldom in the 40 years of its history had the left-wing (but antiCommunist) New Republic (circ. 32,031) been in such parlous condition: its financial backing was gone (TIME, March 16) and it was running a deficit of $1,600 a week. Then the sun came out again. Last week Anne ("Nancy") Elaine Harrison, wife of the New Republic's publisher, fell heir to a third of the $35 million estate* left by her eccentric grandmother, Anita McCormick Elaine, International Harvester heiress, benefactress to the University of Chicago, Foundation for World Government and latter-day angel to such causes as the late Progressive Party and Manhattan's defunct pinko Daily Compass.

The windfall came just in time. Only a month before, Publisher Gilbert Harrison, 38, onetime national chairman of the American Veterans Committee, had begun a last-ditch "campaign to save the New Republic [and to enable it] to continue publication." Gil Harrison thinks it is "too early" to tell what the effect of his wife's inheritance will be, points out that the magazine is still in need of immediate cash, and believes--in any case--that one family should not permanently support it. Said Harrison: "I don't know yet how we can help. But whither I go, so goest the New Republic. Anyway, it's my wife's money." Added Mrs. Harrison reassuringly: "I love the New Republic dearly."

*About $1,500,000 goes in small bequests to individuals and to one institution, Yenching University, now exiled from Communist China. The rest, about $20 million, sets up the "New World Foundation," which has among its goals the advancement of education, ethics, public health and peace.

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