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as covered, as indeed they are, by a few common sense reflections. As these, however, are living questions amongst us, I must subject them to full investigation. In the second term we shall study the science of government and the theory of the state — political science in its narrower use. In the third term, international law. To the graduates I offer a course this term on the Encyclopædia of Political Science as the basis of a knowledge of the whole subject. In the second term I shall lecture on finance and taxation, this being really a continuation of the lectures on political economy, and in the third term on the history of politics and finance in the United States. In future years, as the University course develops, I hope to take up other branches of the wide department which has been entrusted to me here and gradually to win for this chair the influence which belongs to it as the chair of political science in the first university of the republic. My aim will be to give to those who visit this university faith in science, in thought, in training as applied to politics. I desire to use the opportunity given me to furnish the country with citizens of sterling worth, and to give to the professions men whose public influence will tell in the cause of liberty, industry, and honesty. I hope that those of you who become lawyers will learn how to legislate far-sightedly for the permanent welfare of a free people, not to follow the clamor of a noisy faction. I hope that those of you who become editors will learn to wield honorably the immense power you will enjoy for the instruction and molding of public opinion. I hope that those of you who become clergymen will teach that no one can be a righteous man in our time and country unless he is also a faithful citizen. I hope also that the career of politics may open in the future in such a way