The HERALD begins the third year of its existence in the continued belief that a college daily is a necessary adjunct to a university of the size of Harvard, and that the college students are willing to support such a paper to the best of their ability. To the best of our knowledge we may state that no college daily at Harvard has as yet succeeded in clearing expenses at the end of any year's publication. From this fact we leave the college to draw its own inferences as to the kind and degree of support which it has given in the past to the HERALD and its predecessor. We mention this in the belief that the fact requires but to be stated to find its remedy at the hands of the college. Harvard at all times requires the best of everything and is disposed to be critical if it does not receive it. The position of editor of a college paper at Harvard is one that brings with it labor and responsibility, accompanied perhaps with little honor but with abundant criticism. It is perhaps for this reason that, as is the common complaint, so few will enter into competition for the position, or will accept its responsibilities when offered them. Already the HERALD thinks that it remarks a change for the better in this respect in the general college sentiment. For this reason it believes that a frank statement of its position will result for the best. A college paper in the truest sense is distinctly the property of the entire college, and responsibility for its success should rest equally with all the students, the college exercising care in seeing that through competition it may be properly represented in its board of editors. The HERALD therefore places itself in the hands of the college for the future, and will abide by its support.