"The Exhibitions are of the greatest importance to this Institution; and the Institution is become of great importance to the country. Here ingenious youth are instructed in the art of design; and the instruction acquired in this place, has spread itself through the various manufactures of this country, to which it has given a taste that is able to convert the most common and simple materials into rare and valuable articles of commerce. Those articles the British merchant sends forth into all the quarters of the world, where they stand preeminent over the productions of other nations. "But important as this is, there is another consequence of a more exalted kind; I mean, the cultivating of those higher excellences in refined art, which have never failed to secure to nations and to the individuals who have nourished them, an immortality of fame, which no other circumstances have been equally able to perpetuate. For it is by those higher and more refined excellences of painting, sculpture, and architecture, that Grecian and Roman greatness are transmitted down to the age in which we live, as if it was still in existence. Many centuries have elapsed since Greeks and Romans have been overthrown and dissolved as a people; but other nations, by whom similar refinements were not cultivated, are erased from the face of the earth, without leaving any monument or vestige to give the demonstration that they were ever great. "It may, therefore, be fairly assumed, that an ACADEMY, whose objects and effects are so enlightened and extensive as those which are prosecuted here, is highly worthy of the protection of a patriot-king, of a dignified nobility, and of a wise people. "Another circumstance, permit me, gentlemen, to mention, because I can speak of it with peculiar satisfaction, as important to the best interests of this Institution, and with the fullest assurance of its truth, from the personal knowledge I have had of you all, and the intimacy in which I have stood with most of you; it is this, that I have ever found you steadily determined to support the regulations under which this ACADEMY has been governed, and brought to its present conspicuous situation, and by an attention to which, we shall always be sure to go on with the greatest prudence and advantage. "It is a matter of no less satisfaction to me, when I say, that I have always observed your bosoms to glow with gratitude and loyal affection to our August Founder, Patron, and Benefactor. I am convinced, it is your wish to retain His friendship, and the friendship of every branch of His Illustrious Family. I know these to be your sentiments, and they are sentiments in which I participate with you. In every situation of my life it shall be my invariable study to demonstrate my duty to my sovereign, my love for this Institution, and my zeal for the cultivation of genius, and the growth of universal virtue."