The Balzan Foundation

A new international award foundation has been established with headquarters in Berne, Switzerland. Named in memory of the late Eugenio Balzan, an Italian newspaperman who died in 1953, the International Balzan Foundation will award cash prizes that are approximately equal in amount to the Nobel awards. The Foundation is made up of two administrative bodies: one, in Zurich, will supervise the funds; the other, in Milan, will award the prizes. Three prizes are to be distributed annually, one for accomplishments in physics, chemistry, engineering, or medicine, one for contributions to international peace, and one for achievements in philosophy and the arts. At the award committee's discretion, as many as five prizes may be awarded in one year.