In general such catalysts, platinum black or colloidal platinum for instance, have the following characters: (1) a small quantity is sufficient to cause change in a large (theoretically an infinite) quantity of the substance acted upon; (2) the nature and quantity of the catalyst remain at the end the same, as at the beginning of the reaction; (3) a catalyst does not start a reaction in any other substance or substances, it can only influence the rate at which this reaction may occur: apparently it does, in some cases, start a reaction, but in such cases we suppose that the latter proceeds so slowly as to be imperceptible; (4) the final state of the reaction is not affected by the catalyst; it depends only on the nature of the interacting substance or substances; (5) the final state is not affected either by the nature or quantity of the catalyst: it is the same if we employ different catalysts, or a large or small quantity of the same catalyst. Finally, it appears that the phenomena of catalysis are universal: “There is probably no kind of chemical reaction,” says Ostwald, “which cannot be influenced catalytically, and there is no substance, element, or compound which cannot act as a catalyser.”[18] [18] A statement of interest in view of the enormous number of “ferments” or enzymes discovered by physiologists. It would appear that any tissue in any organism is capable of yielding an enzyme to modern investigation. Enzymes, then, are agents which are produced by the organism, and which act by influencing (accelerating or retarding) chemical reactions. An enzyme, as such, need not exist in a tissue; it is there as a _zymogen_, a substance which may become an enzyme when required. An enzyme need not be active: it may be necessary that it should be “activated” by a _kinase_, another substance produced at the same time. Associated with many enzymes are _anti-enzymes_, substances which undo what their corresponding enzymes have done. Finally some, perhaps most, enzymes are reversible, that is, if they produce a change in a certain substance they can also produce the opposite kind of change: the meaning of this will become clearer a little later on. We have spoken of enzymes as “agents” or “substances,” but it is not at all certain that they are definite chemical compounds. In the preparation of an enzyme what the bio-chemist obtains is a liquid, a glycerine or other extract _which possesses catalytic properties_. An actual catalytic substance, like platinum black, cannot be obtained from this liquid. A white powder may be obtained, but this usually proves to be proteid in composition; it is not the actual enzyme itself but is the impurity associated with the latter. Now the very great number of enzymes “isolated” by the physiologists has rather destroyed the original simplicity of the idea of enzyme activity and suggests a parallel statement to that made by Ostwald about catalysts: any tissue