Your Excellency, on behalf of the Council of the Australasian Institute of Mining and Metallurgy, and, indeed, on behalf of everyone present, I extend to you a welcome, and our thanks for your gracious acceptance of the invitation to be here to-day and, later on, to present Honorary Membership Certificates. I also welcome the several official representatives of our Allies, of Great Britain and our sister Dominions.To Messrs. E. C. Driffield and E. J. Rigby, two of the original Foundation Members, who are with us to-day, I extend greetings.The present occasion is opportune to express, on behalf of a representative body of professional men, deep appreciation of the sacrifice which His Majesty the King has made, and will continue to make, by appointing His Royal Highness the Duke of Gloucester as Governor General of Australia and, therefore, His Majesty's senior personal representative in this country.I suppose, that as the primary reason for our assembly to-day is to celebrate the Fiftieth Year of the Institute's existence, I should properly on this occasion, give an account of its history and development. However, as this subject was ably covered by Mr. L. V. Waterhouse, in his Presidential Address in 1938, I trust I may be excused for selecting some other subject. I shall, therefore, exercise my privilege as President and give you a short history of the Mining and Metallurgical Industry of this country with special reference to its effect on the development of the Commonwealth and on the national economy. I apologize in advance for any statistics which I inflict upon you; some of these will be three or four years out of date, because of censorship restrictions. I shall as far as possible refer firstly to the industry prior to and including 1893, the Institute's foundation year, and then to subsequent development.Australia, is pre-eminently a pastoral and agricultural country and it leads the world in the production of wool. Nevertheless, it has an international reputation as a producer of gold and various metals and of minetal products.The development of gold mining in the decade 1840-50 was an epoch-making event in Australia's history, because, to quote one writer's apt phrase, "it precipitated Australia into nationhood." It was certainly responsible for a rapid increase in population. Thus, during the period 1841-1861 the population of Australia increased fourfold, from 221,000 to 1,170,000.The effect of the discovery of gold in Western Australia was even more striking. In 1890 the population of that State was 49,000 and in 1900 it was 180,000.Statistics in respect of gold are reasonably complete, even for the years prior to Federation, and it is interesting to note that the gold declared as...