The Library at Raiņa Boulevard holds the historically inherited collection of the Faculty of Economics and Law of the University of Latvia.

This historical collection contains mainly printed matter from the 19th and the beginning of the 20th centuries, but it also includes rare editions dating back to the 17th and 18th century. The collection, which is made up of almost 5,000 items, contains books in various languages, including Latin, French, German, Latvian and Russian.

The work on forming the Faculty of Economics and Law was started in 1919 and the origin of the library dates to 1923, with the acquisition of the library of professor Eugen v. Bergmann. Later the Library was stocked up with books from the private libraries of cooperator Vilis Siliņš, docent Hermanis Albats and professor Alexander Bumanis.

The stock of the Library of the Faculty of Economics and Law has been damaged substantially due to the frequent change of location, especially under the influence of various political powers. In the post-war years it was the target of censorship by a specially organized commission and many copies were eliminated.

Despite the collections preservation problems, many Latvian and foreign books are retained and since 1998 located in the Library ar Raina Boulevard.