Aside form perpetuating itself,the sold purpose of the American Academy and Institute of Arts and Letters is to "foster ,-assist,and sustain an interest" in literature, music, and art.This it does by enthusiastically handing.out money.Annual cash awards are given to deserving artists in various categories of creativity:architecture, musical composition, theater,novels,serious poetry,light.verse,painting sculpture.One award subsidizes a promising American writer's visit to Rome .There is even an award for a very good work of fiction that failed commercially............once won by the young john Updike for the poorhouse Fair and,more recently,by Alice Walker for in Love and Trouble.