This essay by the president of the Carnegie Corporation of New York (reprinted from the 1998 annual report) opens by noting that the year 1999 marks the 100th anniversary of Andrew Carnegie's support for the planning and development of 65 branch libraries of the New York Public Library System, a gift that came to more than $5.2 million. Discussion then moves to the role and significance of libraries and the importance of books and reading. A brief history, beginning with the first "libraries" in Mesopotamia, is then outlined. The significance of Carnegie's gifts for the development of American libraries is noted, and highlights are given of Carnegie Corporation's grants for public and academic library development and services and for training of librarians. The essay concludes with a profile of the library today and the potential benefits of new technologies, and notes that Carnegie Corporation funds, to be negotiated, will be used for the promotion of literacy, the preservation of texts, and the improvement of children's library services. (AEF)