Poetry Magazine, the long-struggling publication, received a 100 million dollar bequest recently from pharmaceutical fortune heir Ruth Lilly. It’s stirred up a hornets nest in circles that frown on mixing art and money. But commentator and arts critic Ann Daly says it’s about time.

At a recent dinner party, my host, an engineer with a poetic soul, shook his head over Poetry Magazine’s good fortune. "Let's just hope," he said, ferrying plates off the table, "that they don't squander it."

Squander it? Whatever could he mean? more...