Up to this point I have considered only the teaching aspect of your great foundation, that function of the university in virtue of which it plays the part of a reservoir of ascertained truth, so far as our symbols can ever interpret nature. All can learn; all can drink of this lake. It is given to few to add to the store of knowledge, to strike new springs of thought, or to shape new forms of beauty. But so sure as it is that men live not by bread, but by ideas, so sure is it that the future of the world lies in the hands of those who are able to carry the interpretation of nature a step further than their predecessors; so certain is it that the highest function of a university is to seek out those men, cherish them, and give their ability to serve their kind full play. I rejoice to observe that the encouragement of research occupies so prominent a place in your official documents, and in the wise and liberal inaugural address of your president. This subject of the encouragement, or, as it is sometimes called, the endowment of research, has of late years greatly exercised the minds of men in England. It was one of the main topics of discussion by the members of the Royal Commission of whom I was one, and who not long since issued their report, after five years' labour. Many seem to think that this question is mainly one of money; that you can go into the market and buy research, and that supply will follow demand, as in the ordinary course of commerce. This view does not commend itself to my mind. I know of no more difficult practical problem than the discovery of a method of encouraging and supporting the original investigator without opening the door to nepotism and jobbery. My own conviction is admirably summed up in the passage of your president's address, "that the best investigators are usually those who have also the responsibilities of instruction, gaining thus the incitement of colleagues, the encouragement of pupils, and the observation of the public."