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The establishment of the William Volker Fund extends the grants-in-aid program of the Committee on Research of the Council on Pharmacy and Chemistry into the basic medical sciences. When first organized as the Therapeutic Trials Committee, and up to the present, its fundamental objectives were to stimulate progress in the control and treatment of disease through facilitating investigations to establish the usefulness of diagnostic, preventive, and therapeutic agents.
The Board of Trustees of the American Medical Association in accepting a block grant from the William Volker Charities for administration by the Committee on Research also created an important precedent. Their decision establishes a pattern that may be followed by other large philanthropic organizations that desire to make contributions to the health field. By this mechanism grantors are guaranteed an impartial board of medical review by outstanding scientists well prepared to evaluate the proposed experiments. The entire grant will be spent
WILLIAM VOLKER FUND. JAMA. 1953;153(1):35. doi:10.1001/jama.1953.02940180037015