82 READ BAIN
essential to their present welfare and future advancement, and whereas, it appears that the establishment of a University in the town of Salem in the county of Marion, with a suitable preparatory department for the instruction of the youth in the arts and sciences is likely to subserve the intellectual develop- ment and enlightening of the youth of this Territory, there- fore" etc.
The new university was put under the control of a self- perpetuating board of trustees composed of twenty-six mem- bers, and a visiting board of seven, selected by and responsible to the Methodist Episcopal Conference of Oregon. These visitors were to meet and confer with the Trustees. The faculty had power to suspend and expel, with the consent of the Trustees ; to grant degrees and honorary degrees. A report had to be made to the secretary of the Territory every year, giving the names and officers of the faculty, names of teachers and subjects taught, number of pupils and names and degrees of graduates. 21
F. S. Hoyt was president of the new University and principal of the academic department. He was an optimistic, energetic, resourceful man, eminently fitted for his work. By the time he retired in 1860, he had raised a permanent endowment of $20,000, bearing interest at 10%. 22 His wife was a great help to him it is said.
The first graduate, and only one before 1860 was Miss Emily I. York, who finished 1859 with the degree of B. S. The next graduate was Mrs. A'ddie B. (Locey) Reasoner, 1862. In 1863 there were twelve.
The income of the University was limited by the Act to $25,000 yearly. The board of trustees made the following rule at their first meeting:
Until the wants of the institution shall require further provisions the following shall be the faculty of the collegiate department :
1. A President whose title shall be the "President of Wil- lamette University," who shall act as Professor of Mathe- matics and Moral Philosophy. Salary $1,000.
21 Oreg. Ter. Special Laws, 1853.
22 Mines, H. K. "Miss. Hist, of N. W '.," p. 439. Gives A. F. Waller credit for this, also gives list of the teachers.
