But, touching this matter of
investments, it was suggested at the anniversary dinner, on the
high and kind authority of Sir Benjamin Phillips that we might
grant more pensions and invest less money. We urged, on the other
hand, that we wished our pensions to be certain and unchangeable--
which of course they must be if they are always paid out of our
Government interest and never out of our capital. However, so
amiable is our nature, that we profess our desire to grant more
pensions and to invest more money too. The more you give us to-
night again, so amiable is our nature, the more we promise to do in
both departments. That the newsman's work has greatly increased,
and that it is far more wearing and tearing than it used to be, you
may infer from one fact, not to mention that we live in railway
times. It is stated in Mitchell's "Newspaper Press Directory,"
that during the last quarter of a century the number of newspapers
which appeared in London had more than doubled, while the increase
in the number of people among whom they were disseminated was
probably beyond calculation.
Ladies and gentlemen, I have stated the newsman's simple case. I
leave it in your hands. Within the last year the institution has
had the good fortune to attract the sympathy and gain the support
of the eminent man of letters I am proud to call my friend, {24}
who now represents the great Republic of America at the British
Court.
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