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The Committee on International Economic Policy grew out of a long-standing association between the International Chamber of Commerce and the Carnegie Endowment for International Peace. The Copenhagen Congress of the International Chamber held in June 1939 created a Committee for International Economic Reconstruction under the chairmanship of Mr. Thomas J. Watson who, in June 1944 took the initiative in forming the Committee on International Economic Policy in order to carry out the research plans of the International Committee under the new conditions created by World War II. The Committee's form and purposes were the subject of agreement between the Carnegie Endowment for International Peace and the International Chamber of Commerce. The Committee thus formed, under the chairmanship of Winthrop W. Aldrich, consisted of a group of United States citizens, drawn mainly from business and educational circles. It worked closely with such bodies as the Chamber of Commerce of the United States, the National Foreign Trade Council,and the United States Associates of the International Chamber.

It was decided by the trustees of the Endowment that it was propitious to secure a legal incorporation of the Carnegie Endowment for International Peace in order to give the trust stability, permanence, and well-established forms of legal supervision. The Incorporation became law on February20, 1929.

The International Relations Clubs were groups of students organized under the auspices of the Carnegie Endowment for International Peace in universities, colleges, and normal schools for the study of international relations. Two publications were issued by the Endowment for the IRC's: "The Fortnightly Summary of International Events" and a Spanish edition called the "Resumen. "

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