Now, FIVE DOLLARS, the present exchange and LUCY Baldwin being what they are, is the equivalent of ONE POUND, more or less.

Now, this may not mean much to the outside world, but to HARVARD UNDERGRADUATES it just goes to show the truth of the old proverb, PENNY WISE, POUND FOOLISH.

Now, starting today it is going to cost ONE POUND, more or less (consult Bursar's office for current rate of exchange), to change a course. Any course. Now for example, if you want to change from INDIC PHILOLOGY to HISTORY ONE, it is going to cost you a little under ONE SOVEREIGN.

Now, this is a GOOD example. Because the last time anyone went to INDIC PHILOLOGY, it was in the old Tuesday-Thursday-and-at-the-pleasure-ofthe-instructor-Saturday rut. Now HISTORY ONE, for all its drawbacks, meets on MONDAYS, WEDNESDAYS, and FRIdays. This is IMPORTANT.

Now, our RESEARCH department has delved into this matter pretty carefully. A painstaking analysis of the IDES, the NONES and the KALENDS reveals that all the major, feast days this year come on MONDAYS, WEDNESDAYS, and FRIDAYS. Professor lecturing on these days will have to PASS OUT approximately SIX batches of RAIN CHECKS.

NOW, although we do not see why it costs as much to change a HALF-COURSE as to change a WHOLE COURSE (our janitor is making a study of this problem), a HOLIDAY is a HOLIDAY. After all, money isn't EVERYTHING. Now, is it?