A TIME FOR PRAISE

REGARDLESS OF what adverse or favorable circumstances may lie ahead affecting the finances of the College in the current year it is fitting to comment on the remarkable record made by the treasurer's office in the year ending June 30 last. The President and Trustees had cut budget estimates as much as seemed possible, consistent with the maintenance of instructional facilities at a point of satisfactory efficiency. The President's oral and written statements to alumni that a large deficit faced the College last year was an interpretation of the facts. There could be no optimism in forecasts based on the carefully pruned budget.

That Mr. Edgerton has so safeguarded the Dartmouth financial welfare as to close the books with a deficit of only $19,266.88 is an expressed tribute that needs no amplification. The cooperation of heads of departments of instruction and administration was sought and fully received. All having to do with the expenditure of College funds were asked to effect every possible economy. As Mr. Edgerton points out in his excellent report to the trustees, there were only limited opportunities for reductions since faculty, library, and administrative salaries form more than two-thirds of the grand total of expenses. But the other third, which could be reduced temporarily without noticeably affecting the value of education in Hanover, was so well administered that substantial economies were effected.

Assisted by a committee of the Trustees, Mr. Edgerton showed masterful handling of invested funds. His direction of this disheartening task in a year such as the one just past has definitely proven the marked capabilities he has shown in previous years in this most importa`nt work.

Alumni are entitled to receive, and will be gladly sent, copies of the financial report of the College upon application to the office of the treasurer.