Charles Chipping (Robert Donat) is given the nickname "Chips" by his beloved sweetheart (and later wife) Kathy (Greer Garson), who inspires him to become a fantastic schoolteacher, and helps him aspire to the post of headmaster. Kathy tragically dies in childbirth (along with the baby), and "Mr. Chips" throws himself into his job. He eventually retires as an instructor at the Brookfield School without having become headmaster. However, as thousands of English men are summoned to World War I, Mr. Chips is coaxed out of retirement to lead the school through its darkest hour.
Chipping joyously continues at the school well into extreme old age. As he lies on his deathbed, the new headmaster laments that Mr. Chipping never had any children. Chipping corrects him, pointing out that "you're wrong. I have. Thousands of them. Thousands of them... and all boys," as the memories of Brookfield students file past his mind's eye. The last in line, a young Peter Colley III (portrayed by the same Terry Kilburn who appears as several generations of boys in the Colley family), calls out "Goodbye, Mr. Chips."
Thanks Curt, the "Grand Poop-bah"