Gentlemen. I very deeply appreciate the honour which you have conferred upon me in awarding the Nobel Prize for 1923 to me and Professor J.J.R. Macleod. I am fully aware of the responsibility which rests upon me to deliver an address in which certain aspects of the work on insulin may be placed before you. This I propose to do today and I regret that an earlier opportunity has not been afforded me of satisfying this obligation.