Ever since I received the notification that I had been elected the President of this Institute for the ensuing year, I have had a desire to acknowledge the compliment, and to express my appreciation of the honor that you have done me in associating me with the distinguished officers who preceded me in this office. It occurred to me that the most fitting and appropriate method of doing this, and at the same time of showing my interest in the Institute, would be to prepare a paper to be read at one of the meetings, or to be published in our Proceedings. The range of subjects to choose from is very wide, for, as this Institute has to do with matters pertaining to the Navy, it is hard to indicate any subject known to modern progress that would not be appropriate; but I concluded to confine myself to no one of these, but rather to assume the position of an observer of what is now transpiring, to suggest what seems to me to be needful, and to consider the prospects that are held out in the way of rehabilitation of the Navy.
Annual Address: The Navy and its Prospects of Rehabilitation
By Rear-Admiral Edward Simpson, U.S.N., President of the Institute