THE subject I have chosen is an enormous one, but it is one of exceptional interest at the present time. It is one of general interest as well as of scientific interest to students of physics. The fundamental properties of matter are now coming to be understood in a way in which they have never been understood before. What are these fundamental properties? One is cohesion, another is gravitation, and another is inertia. Concerning gravitation, we remain pretty much in the dark. It is an empirical fact that a body has weight, that two lumps of matter attract one another, with an extremely small force when we are dealing with ordinary pieces of matter, but extremely large when we are dealing with astronomical masses, such as planets OF suns; but the cause of that gravitative attraction is not known, and at present appears to have little chance of becoming known. Cohesion ten years ago was in the same predicament, but cohesion now seems to be on the eve of yielding up its secret. The most striking fundamental property of matter, however, that we are beginning to understand in some degree, is that of inertia. Inertia is a popular term, but it is not always clearly understood what is meant by it. Let me explain the meaning. It may be defined as the power of overshooting the mark, or the power of moving against force. It is by inertia that a rifle bullet travels after it has left the gun. In the barrel it is urged by force; in the air the bullet goes on against an opposing force of friction because of its inertia—often in that case called the momentum. It is by reason of inertia that water runs uphill; we are sometimes told that water will not flow uphill, but that is a mistake. Heat will not flow uphill—heat will only flow from hot to cold; you cannot give it impetus and let it rush up of its own momentum, for heat has no momentum; it is not a substance, it only goes when it is pushed, and the instant you remove the force it stops. That is the case with heat, but that is not the case with any form of matter—it is not the case with anything possessing inertia. The water from a fountain rises because of the initial velocity imparted to it; for the same reason a cricket ball rises when it is thrown up; the propelling force has ceased, but the motion continues. It is the same with tides; for three hours the water is running uphill, for three hours it is running down-hill. The head of the inflowing water is for three hours higher than the water behind it—the first three hours of the flow impart to the water its momentum, and the last three hours destroy that momentum gradually. The swinging pendulum is another, illustration. [Having illustrated this point by a liquid in a horseshoe tube, showing the return to the position of equilibrium after a series of oscillations, the lecturer continued.] Oscillations like that are known to occur in electricity when a Leyden jar is discharged; the electricity does not go simply from the more highly charged to the less highly charged and there stop, but it goes beyond, it overshoots the mark and charges up that which was negative to positive, and then backwards and forwards, very like the oscillations in the tube. Hence it would appear as if electricity had a property resembling inertia. When I lectured here a quarter of a century ago I should have said that electricity had a property resembling inertia—I should have called it a mechanical analogue—an apparent inertia, simulating by inductive electromotive force the real inertia? of matter. I should now go further than that, and should say that electricity has real inertia, just as real as matter. I should even go still further, and should say that in all probability there is no inertia but electric inertia; that the inertia of matter itself is to be explained electrically. Irt other words, what we are now arriving at gradually is an electric theory of matter. We are endeavouring to explain the properties of matter in terms and by means of what we know concerning electricity.