"My Lord Mayor, my Lords, Ladies, and Gentlemen,--It affords me very great pleasure to occupy the chair to-day, upon so interesting an occasion as the present. Among the many benevolent and charitable institutions of this country there are, I think, few which demand our sympathy and support more, and in which we can feel more interest, than the National Life-boat Institution. An institution of this kind is an absolute necessity in a great maritime country like ours. It is wholly different in one respect from other institutions, because although lives are to be saved, they can in those cases in which this society operates only be saved at the risk of the loss of other lives. I am happy to be able to congratulate the Institution upon its high state of efficiency at the present moment, and upon the fact that by its means very nearly one thousand lives have been saved in the course of the past year. "Lifeboats have been given by many benevolent individuals--some as thank-offerings from the friends of those whose lives have been saved, and others in memory of those who are unhappily no more. I am happy also to be able to say that lifeboats do not only exist upon our coast, but that our great example in this matter has been imitated by many foreign maritime countries, and they have chosen our institution as the model for their own. I beg upon this occasion to tender, in the name of the Institution, our warmest thanks for the kindness and courtesy of the Lord Mayor in allowing us to hold our meeting in this hall. It is indeed a peculiarly fitting place in which to hold such a meeting, closely connected as the Institution is with the City of London. Very nearly half a century ago the Institution originated in this city. In 1850 the late Duke of Northumberland became its president. My lamented father was also a vice-patron, and took the warmest interest in its prosperity. I am happy to say the respected secretary, Mr. Lewis, occupied that position at that time, as, indeed, he had long before that time. He has held it ever since, and much of the success of the Institution is owing to his long experience, and the energetic manner in which he has directed its working has raised the Institution to its present high state of efficiency.