A memorial is simply any object (or day) that causes one to recall a person or event. A memorial can be as simple as a photo hanging on a wall to more complex reminders, like a roadside memorial to a crash victim complete with flowers, letters, and mementos. Americans, even non-religious ones, will create a memorial to someone they love or admire, whether it's putting up a poster of Michael Jackson or keeping an old lamp that reminds them of their mother.
In the Catholic Church year, a memorial is the third highest ranking holy day possible in the Church calendar (both solemnity and feast day are higher). The Church typically reserves a memorial for its lesser known or less "popular" saints.
Giving a day memorial status does not mean the saint was less holy or less valuable. For example, even a great figure as St. Thomas Aquinas and a popular devotion like the Immaculate Heart of Mary are given a memorial day. Using a memorial for certain saints allows the Church to honor the saint while not needlessly interrupting the mass reading cycle or turning attention away from the general church year.
A memorial can be broken down into two types: obligatory and optional. As the name implies, a priest must recognize an obligatory memorial in his masses and recitation of the Hours, while he may skip an optional memorial.
However, one final word about a memorial is necessary. The lives of many saints, whether they have a memorial or solemnity, continue to inspire countless people. Perhaps a saint with "merely" a memorial may be an undiscovered gem for a Catholic waiting to be inspired by a lesser known, but still valuable, story.
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