All this would have been quite unintelligible to the youthful days of our friend, whom we see leisurely approaching the evening of his days in the midst of a generation that does not know him indeed, but which is certainly benefited by his presence and the picture of academic repose which he displays to his much-troubled and harassed successors: a peaceful, cloistered life; soon to leave nothing behind it but a brass in the College chapel, a few Common Room anecdotes, and a vague tradition, perhaps, of a ghost on the old familiar staircase. Far different is the lot of the Fellow _fin de siècle_; ’by many names men know him,’ whether he be the holder of an ’official’ Fellowship, or a ’Prize Fellow’ who is entitled to his emoluments only for the paltry period of seven years. And what emoluments! Verily the mouth of Democracy must water at the thought of the annual ’division of the spoils’ which used to take place under the old _régime_: spoils which were worth dividing, too, in the days when rents were paid without a murmur, and colleges had not as yet to allow tenants to hold at half-a-crown an acre, lest the farm should be unlet altogether. But now if a Prize Fellow receives his 200*l.* a year he may consider himself lucky; and remember that if he is not blessed with this world’s goods, the grim humours of the last Commission at least allowed him the inestimable privilege of marrying--on 200*l.* a year. After all, it is not every one who receives even that salary for doing nothing.