Co-founder and chairman of the board of the Book-of-the-Month Club.

Large groups of correspondence with members of the editorial board including Henry Seidel Canby, Dorothy Canfield Fisher, John Marquand, Christopher Morley, and William Allen White, which contain insights into the Club's activities, organization, and literary policies. Also, material relating to Scherman's careers as writer, economist, and philanthropist. Mr. Scherman's economic activities are represented by files of correspondence and papers of the National Bureau of Economic Research, the Federal Union, and the Committee on Economic Development. Among the personal items in the collection are manuscripts of his publications, reviews of his writings, numerous awards he has received, photographs, and documents relating to his long and rich career. There are two particularly warm letters from Winston Churchill and Albert Einstein. Also, additional personal and professional correspondence files of Scherman with publishers, agents, authors, Book of the Month Club judges, and organizations with which he was affiliated.