EDUCATION. 73 



endowment of the University, were wholly lost. The remaining 

 lands were long unsaleable, and could not be rented for any valu- 

 able consideration. The country was new, land abundant and 

 cheap — much, even of a good quality, could be obtained by 

 merely surveying it, and paying the fees for granting. The 

 lands, therefore, of the University could not be made available 

 for any valuable purpose, and the trustees were unable to com- 

 mence the institution. None of the lands belonging to the 

 University were sold until 1803, and then only a small portion 

 and at a low price. Most of them remained unsold and unpro- 

 ductive till 1816, when they were nearly all sold, and $100,000 

 vested in bank, as a permanent fund for the support of the in- 

 stitution. The Legislature, in consideration of the large 

 amount of bonds for these lands over the $100,000, guaran- 

 tied that this permanent fund should yield annually eight per 

 cent. 



The College was nearly suspended from 1816 to 1819, and 

 by aid of the surplus funds, during this period, the debts of the 

 institution were paid, the buildings repaired, the small library 

 increased, and the philosophical and chemical apparatus 

 greatly enlarged. From this period the institution began to 

 assume a respectable stand : its students increased — the Board 

 obtained the services of a respectable number of officers, and 

 continually enlarged the library and apparatus. 



The first Commencement was on Thursday, the 31st May, 

 1804. The exercises were held under an arbour, erected in 

 the campus ; the number of graduates was nine. Of these, 

 four are now living, viz. : Col. Gibson Clark, Gen. Jeptha V. 

 Harris, Col. Wm. H. Jackson, and James Jackson, at present 

 Professor of Chemistry and Natural History in the University; 

 The Hon. Augustus S. Clayton, one of its most untiring friends 

 to the day of his death, was also a member of this class. Tho- 

 mas Irwin, Jared Irwin, Robert Rutherford, and William 

 WiUiamson, were the four remaining members. The whole 

 number of graduates is 533, among whom are found a large 

 number of our most useful and distinguished citizens. 



The University has buildings which have cost perhaps 

 75 or 880,000. It has a very extensive and complete philo- 

 sophical apparatus, a good chemical laboratory, a large min- 



