I have been asked on the present occasion to deliver a short address which might serve as an introduction to the course of lectures and conferences on the history and resources of the different portions of the Empire which are to take place in the Imperial Institute. In attempting to discharge this task my first reflection is one which the very existence of the Institute can hardly fail to suggest to anyone with any knowledge of recent history. It is the great revolution of opinion which has taken place in England within the last few years about the real value to her both of her colonies and of her Indian Empire. Not many years ago it was a popular doctrine among a large and important class of politicians that these vast dominions were not merely useless but detrimental to the mother-country, and that it should be the end of a wise policy to prepare and facilitate their disruption. Bentham, in a pamphlet called 'Emancipate your Colonies,' advocated a speedy and complete separation. James Mill, who held a high place among these politicians, wrote an article on Colonies for the 'Encyclopædia Britannica' which clearly expresses their view. Colonies, he contended, are very little calculated to yield any advantage whatever to the countries that hold them, and their chief influence is to produce and prolong bad government. Why, then, he asks, do European nations maintain them? The answer is very characteristic, both of the man and of his school. Something, he charitably admits, is due to mere ignorance, to mistaken views of utility; but the main cause is of another kind. He quotes the saying of Sancho Panza, who desired to possess an island in order that he might sell its inhabitants as slaves, and put the money in his pocket; and he maintains that the chief cause of our Colonial Empire is the selfish interest of the governing few who valued colonies because they gave them places and enabled them to multiply wars. In more moderate and decorous language, Goldwin Smith wrote a book, the object of which was to show how desirable it was that this Empire should be gradually but steadily reduced to the sweet simplicity of two islands. Similar views prevailed very generally in the Manchester school. Cobden frequently expressed them. The question of the colonies, he maintained, was mainly a question of pounds, shillings, and pence; he proved, as he imagined, by many figures that they were a very bad bargain; and he expressed his confident hope that one of the results of free trade would be 'gradually and imperceptibly to loosen the bands which unite our colonies to us.' About our Indian Empire he entertained much stronger opinions. He described it as a calamity and a curse to the people of England. He looked on it, in his own words, 'with an eye of despair,' and declared that it was destroying and demoralising the national character. It was the belief of his school of politicians that all the nations of the world would speedily follow