The Dissertation which has been submitted to me presents, in my opinion, an exceedingly difficult problem. I will state in general terms the question on which, if I am right, the electors must make up their minds, and will then give some reasons for my opinion, in order to expose it to criticism.

In considering the claim of undergraduate candidates for a scholarship or for a place in the class list, it is enough I suppose to be satisfied of the ability and knowledge displayed in their work. It is not expected that they shall make a serious contribution to the science with which they are dealing. If they shew what is called ‘promise’ to a marked degree, their claim is taken to be made out. But I presume that a Dissertation offered to the electors for a Fellowship is judged by a somewhat higher standard. The electors, I imagine, would desire to be satisfied that the candidate has begun to turn his promise into performance, and has not merely shown even a brilliant capacity for a certain kind of study, but has taken up a line of work which has begun to be fruitful in his hands. Of course it must be borne in mind that in philosophy a critical or skeptical attitude is no bar to the achievement of highly valuable results.