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Page 9 text:
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BOOK Page seven fm !Umk (UnmmtttMis EXECUTIVE Lloyd Hutton, Chairman T. E. A. Stanley • Howard Patton Kenneth Robertson (Sec’y) Carrie Speer Margaret Cawston (Treas.) Cliff Balsdon Editorial and General CLASS CLASS CLASS CLASS CLASS CLASS 1— Jessie Skene Margaret Cawston Frances Legg 2— Carrie Speer Barbara Jarman Margaret Blatchford 3— Margaret Irving Rothnie Bell Geraldine Mavor Kenneth Clarke Garnet Nelson Douglas Sargent Angus Osborne Gordon Buchanan Neil Roche Bill Fisher Lloyd Hutton Kenneth Robertson 4—Betty Colley Ruth Murray Margaret Sandercock Howard Patton Ralph Hoar Mervyn Crockett 5—Muriel George Sandy MacKenzie Cliff Balsdon 6—Madge Cardell Keith Gibson Roland Richardson CLASS 7—Dorothy Hutton CLASS 8—Marion Egleston CLASS 9—Daphne Lilly CLASS 10—Audrey Bliss CLASS 11—Katherine Adolph CLASS 12—Dorothy Crockett CLASS 13—Mary Dillon CLASS 14—Betty Burwash CLASS 15—Jean Dickson Bill Russell Tom Dixon Rayworth McKay Norton Wait John Davidson Ernest Sales Morris Shumiatcher George Garbutt Nesbitt Plotke Chairman of Jokes Committee Chairman of Sport Committee - Chairman of Art Committee Chairman of Literary Committee Chairman of Business Committee Kenneth Clarke Barbara Jarman Gordon Buchanan Carrie Speer Howard Patton
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Page 10 text:
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Page eight YEAR idnokimj Harkuwrfc—anft Jfanuarit T. E. A. S. Some years ago oil was discovered in Turner Valley. A little later Calgary experienced an oil boom. This boom was probably very much like other booms, gold booms, land booms, general stock booms, etc. Now we are sadder, and wiser —perhaps. The brutality of it all stands out in its naked ugliness as we look back. At that time the streets were filled with strangers with flinty countenances who were here then but away today, ready to repeat the programme wherever opportunity offers. Why were they here? Not to boom Calgary indeed, but to utilize the conditions they found and created to get rich. The wealth they gathered did not come out of the ground but out of the pockets of peaceful Calgary citizens, some wealthy and able to lose it without disaster, others of moderate means who needed their money for the comforts and necessities of life, but very many who had nothing to lose without sacrificing food, clothing and shelter. All these things were well known to the fraternity. The skeptic who questioned the possibilities of all getting rich simply had to take to cover. These strangers were all “optimists.” What has been the result of this experience ? Many have lost money they could well have put into the legitimate channels of trade. This is by no means the most serious result. The searing of social conscience is all too evident. Per¬ haps the distress of the present depression and a sweeping revival of religious belief and practice will quicken this lost sensibility. If so, the depression, will serve a very useful purpose. If not, we are headed for still worse conditions. At present the hungry have to be fed. The feeding of the hungry is surely com¬ mendable but the manoeuvring that takes place to make the other fellow pay the bill must surely make the angels weep. What of the future? Will the coming generation be any wiser? Can they be helped ?, Something may be done by legislation. We are apt however to expect too much from legislation. Unless people are well informed and sane in their judgments, methods for parting them from their earnings will surely be found. I erhaps an honest consideration of the ethics of the boom might be a protection in the future, and perhaps a few fundamental economic principles might be en- giaved on the cover of the family cash book. Some of these principles are so old as to be familiar proverbs and on that very account are not considered a part of school philosophy. It might be a good thing if we were persuaded (1) That the ethics involved in trying to get something for nothing is at best questionable; (2) That oil or other shares sold at a gain perhaps, have been passed on, to be paid by the life savings or food and shelter of those left with them, when often the shares have ceased to have any market value; (3) That to play a hard-faced stranger or a hard-faced fellow-citizen for that matter, at his own game, is to invite disaster; (4) That sound investments always have to be sought, and are never peddled about among the non-financial classes. If a fortune is to be made those selling these investments would be only too ready to make it; (5) That the purchase of shares which owe their market value to market manipulation, and not to the prospect of dividends from the enterprises involved, is simply gambling, and ethically and economically unsound.
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