foremost in all great charitable
undertakings in this country, presided at its annual festival.
The institution continued to grow and more children had to be
admitted, until at last there was not sufficient room in the old
home. A new one was, therefore, instituted at Watford, and in
1869 the Princess and myself were asked to lay the foundation
stone of your present home. Having taken part in that ceremony,
it gives me much gratification to learn in what a flourishing
condition the institution now is, which is exemplified by the
presence of upwards of 500 in the home. And when I look at the
young ladies and the boys before us I think you will come to the
conclusion that the management of the institution is thoroughly
good. During the 74 years of the existence of the asylum
something over 5000 orphan children have been maintained,
clothed, and educated.

"The great Duke of Wellington took very great interest in the
institution, and I believe I am not wrong in stating that he
presided at its festivals on five different occasions. A
remarkable and very important fact in connection with the
institution is that those who have received education and aid
from the society are those who do all they can to give it
support at the present time, and part of the institution at
Watford was built by subscriptions of the old scholars, and I am
told that there are as many as ten old pupils of the institution
in one commercial house in the City, while many are present here
to-night who are prepared to give liberal donations. The
education they receive is a thoroughly sound and practical one,
and when they leave every effort is made to find them
situations, and they are sent out with proper clothing. As a
proof that it is managed on economical principles I need only
say that the cost per head in the past year amounted to little
over L30. The amount disbursed in the 74 years since its
foundation has reached the large sum of L700,000--all of this
large sum, with the exception of L1000 a year which you can rely
upon, having been derived from voluntary contributions.

"This year being the Jubilee of Her Majesty's reign the managers
are most anxious to mark the epoch in some manner which will
benefit the institution, and they have resolved to add 100
scholars, of whom 50 were admitted in Jan