St Marys High School - Labarum Yearbook (Saginaw, MI)

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Our Tlational Balance Sheet M yy HEN one is nearing the close of a pleasant journey it is often of interest to recall in detail the wonders of the territory tra- versed. Likewise a mental review of years lived through will serve to emphasize lessons learned from past experience. This fact is of practical significance to the American people as they stand at the present stage of post-war economic reconstruction and take a retrospec- tive glance over the period immediately following the signing of the Armistice. War-time repression gave way to wild extravagance. Wages were higher than they had been for years. All classes of people spent freely in spite of the exorbitant prices. As with individuals so with our govern- ment. Expenditures rapidly increased, taxes were raised, demands for money were made more frequently, and as a result the attention of econ- omists all over the land was centered on the one question of how to avert financial disaster in government administration. Congress and governmental oiicials made a study of the finances of the Government to discover whether or not material saving could be effected by readjustments in the governmental revenue system. Until recently the Government was financed by separate appropriations, but this privilege was greatly abused because sometimes money was de- manded greatly in excess of what was needed on the plea that the whole amount asked would not be obtained. In cases where the entire appro- priation was allowed, little diiiculty was found in devising ways and means of spending the excess. In a word, control of-Government ex- penditures was lacking. When these abuses were brought to the attention of Congress it was decided, as is the case in any successful business concern, to have some sort of central control and that every' year a reckoning should be made at the beginning and at the end of the year. As a result there came into being what is popularly termed our National Balance Sheet. This much needed reform came as a budget for Government expenditures and appropriations. It contemplated central supervision through an organization at VVashington known as the Bureau of the Budget. The inauguration of this new budgetary system was distinguished by a meet- ing of the heads of the different departments and the chiefs of bureaus with a view of working in harmony with the work of the Budget Bureau. The first work consisted in having each official submit to the Di- rector of the Budget a statement of the minimum sum required to run his particular department for the ensuing year. A collection of all these statements gave a scientific business-like estimation of Government ex- penses for a year. Thus it was possible to obtain almost at a glance a

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of the past year have brought us to the realization that life for those in earnest is fraught with joys and a contentment which will ever keep alive the happy memories of our Senior year. With just a tinge of sorrow at the departure coming only too soon, we gaze into the future, when school days must be numbered with past memories. Yes, soon We must leave the portals of our beloved Alma Mater but ever will we sing with the poet,- Long, long be my heart with such memories filled, As the vase in which roses have once been distilled, You may break, you may shatter that vase if you will, But the scent of the roses will hang around it still. -Margaret A. Kelly, '22 1. 0 .. C-haritable L-ively A-ccurate S-tudious S-uccessful O-rderly F-amous T-actful W-ise E-ntertaining N-oble T-houghtful Y-outhful T-ruthful W-itty O-bservant

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comprehensive view of the entire cost of government administration. As a result of this system President Harding has been able to make a reduction of approximately S576,000,000 in the expenses for the fiscal year 1922. The budget system has ushered in a new era in government busi- ness,-an era of conscientious effort to keep the cost of government down to the lowest point consistant with our national needs. Let us hope that the effort so far made is but an index to the greater things yet to come in government efficiency. -Edward J. Waters, '22 ....,..-. 0-..1.., A madonna Ever an inspiration it must hold, Our artist's vision of that lovely face Out smiling from its frame of guardian gold As shaft of sunlight in the shadowed place. Fair is the brow as garden lily pure With petals closing o'er a heart of gold, And oh, the Wealth of love and tenderness That in the shadowed depths the sweet eyes hold. - Mother of mine, whatever years may bring- The shine of laughter or the dew of tears- Pray that I hold thy picture in my heart A beauteous vision through the pilgrim years! -Frances A. Ryan, '22