1. The annual gift received from the Gladstone Memorial Trust shall be used for the maintenance of the Gladstone Memorial Prize. The prize shall be awarded for a thesis on some subject connected either with recent British History, Political Science, or Economics or with some problem of British policy - domestic, imperial, or foreign - in relation to finance or other matters, submitted for examination in the Honour Schools of History, History and Economics, and Philosophy, Politics, and Economics.
2. The prize shall consist of cash or books of such value as the trustees shall determine.
3. There shall be three judges, of whom one shall be the chairman for the time being of the examiners in the Honour School of History and Economics, one shall be appointed by the board of examiners for the time being in the Honour School of History, and one shall be appointed by the board of examiners for the time being in the Honour School of Philosophy, Politics, and Economics.
4. An honorarium, the value of which shall be determined from time to time by the Board of the Faculty of History with the consent of the donors, shall be paid to each of the judges out of moneys provided by the donors.
5. The prize shall not be awarded to the same person a second time.
6. This decree shall be subject to alteration from time to time, but not without the sanction of the Trustees of the Gladstone Memorial Trust for the time being.