The possessors of wealth can scarcely be indifferent to processes which, nearly or remotely have been the fertile source of their possessions.

If we look at the fact, we shall find that the great inventions of the age are not, with us at least, always produced in universities.

Scientific knowledge scarcely exists amongst the higher classes of society. The discussion in the Houses of Lords or of Commons, which arise on the occurrence of any subjects connected with science, sufficiently prove this fact.

There is, however, another purpose to which academies contribute. When they consist of a limited number of persons, eminent for their knowledge, it becomes an object of ambition to be admitted on their list.

It will be readily admitted, that a degree conferred by an university, ought to be a pledge to the public that he who holds it possesses a certain quantity of knowledge.

Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks it own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the common stock than that which it immediately succeeds.

You will be able to appreciate the influence of such an Engine on the future progress of science. I live in a country which is incapable of estimating it.