usefulness. On the contrary they desire--while adhering, of course, to
certain main lines of intellectual activity--to imbue it with such
elasticity of adaptation as will enable it to successfully grapple
with the changing necessities of changing times. The chief wants of
to-day may not necessarily be the most pressing requisites of a
century hence. Therefore, one of the greatest essentials--and at the
same time one of the greatest difficulties--in a foundation like this,
is to provide for and combine within it such a fixity of principle and
such an adaptability of administration as shall enable it to keep pace
with the progress of the ages, and suit itself to the several
requirements of succeeding generations as they pass.

COST AND ENDOWMENT.

The cost of carrying out this great enterprise--including the erection
of buildings, purchase of books, fittings, &c.--has already amounted
to between £15,000 and £20,000, and the outlay shows no signs of
cessation. In addition to these expenses there is the Endowment Fund
already referred to, and for this the munificent donors intend to set
apart a sum to which the above amount bears but a small proportion. So
that altogether the community will be indebted to them for an
educational foundation worth a magnificent figure in money value
alone, while besides this, we must not forget the long years of
thoughtful care and of self-denying energy involved in maturing these
splendid projects, or the healthy mental and moral stimulus which the
conduct of these patriotic gentlemen has supplied.

PRESENTATION OF PORTRAITS.

A very pleasing ceremony took place on Wednesday, December 17th, 1884,