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My predecessors in this lectureship, Mr. R/lorris Llewellyn Cooke and Mr. Ralph Flanders, set two or three good precedents for me. I follow their good example by beginning these remarks with a word of thanks to the founder of this lectureship. The men who have stood here, by your invitation, on previous occasions, R/Ir. Cooke in 1944 and R/lr. Flanders in 1945, may have had the advantage of a more intimate acquaintance with Mr. Day, with RiIr. Day’s life work, and with the ideals of public service which he demonstrated in his professional work and for the furtherance of which this lectureship of the Franklin Institute has been established. As I understand, it was the intention of those who instituted this lecture foundation to remind us from time to time by these annual lectures that professional men, particularly the scientists, engineers, and managers of industries, have social and economic repsonsibilities of some magnitude, that each has a debt to society beyond all that he owes to himself and to his profession, to his employers and to his stockholders. I undertsand, too, that the founders chose not to prescribe that spokesmen here under this lectureship are expected to accept any one fixed doctrine of industrial philosophy. They did not set up for the lecturers a creed, nor was it stipulated that we must pass certain tests of orthodoxy. The freedom given us proposes in itself certain reasonable restraints and tends to discourage reckless and unconsidered speech. The previous lecturers have also indicated certain precedents as to the conclusions that are likely to be reached by a Charles Day lecturer. I have read the interesting papers presented from this desk by my predecessors, Mr. Cooke and Mr. Flanders. These are contemplative essays on the subject of the public responsibilities of all of us, no matter what callings we follow. Examining the lives of several men of affairs whom he admired, the first lecturer, &Ir. Cooke, undertook to identify “the sometimes overlooked sources of power” in the intellectural equipment of a business executive: He took his examples from the lives of certain of his friends