Manchester College - Aurora Yearbook (North Manchester, IN)

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1. Sam Davis slips out of the communications building to enjoy his pipe and to chat with Director of Security, Gene Mooney. 3. What a sight to look inside the huge colorful hot air balloon as it is being filled and prepared for take-off on Homecoming Day. 2. Hey, Alright!! says Dan Walker as Todd Roberts puts the pedal to the metal on one af the maintenance carts . . . and finds his top speed is still S-L-O-W. Economic Crunch 3

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1. Sitting on the banks of the Kenapocomoco, Duane Boots looks as if he ' ll need a whopping good story to convince anyone that the fish are bitting today. Manchester Tightens Its Belt A faltering economy, rising unemployment, and higher prices - it ' s no wonder that the cost of a higher education is getting too expensive for the student of average means. How is Manchester College surviving the ECONOMIC CRUNCH? A small college community of less than 1,300 Manchester students and their families, alumni, faculty, and staff pooled their efforts and resources to keep Manchester College a thriving educational community. All of the time and effort is paying off. This is not suprising, though, because at Manchester; WHEN THE GOING GETS TOUGH, THE TOUGH GET GOING. t. koskey 2. After a shaving cream fight in Ike, Greg Lovell and Chris Bayless mop up as other participants dry off. 2 Economic Crunch

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Feature: When a nation ' s economy makes an encouraging turnaround from a recession to recovery, you have to stop and wonder what happened to cause such a change. No one is more qualified on Manchester ' s campus to answer a question like that than Dr. Richard Harshbarger, chair of the department of economics and business, pictured at right. The nation was informed in January that it was headed out of a recession that began in the latter part of 1981. The recovery was indicated by a drop in inflation from 13% in 1980 to only 4% in 1983, and a national output of three trillion dollars, an all time high. Although unemployment had only dropped from 10.7% in November 1982 to 10.1% in May 1983, 99 million people are working presently which is a near record high. According to Dr. Harshbarger this recovery was encouraged by Reaganomics but was actually caused by a drop in interest rates 17% in 1982 to 10 1 2% presently. The high interest rate made it difficult to buy goods which reduced demand, particularly in energy and food. This generated unemployment. Dr. Harshbarger predicts that the recovery will continue through late 1984 and that unemployment will come down slowly. t. koskey