The year 1876 is commonly taken as the date of the foundation of the
Johns Hopkins University, as in that year its doors were opened for the
reception of students. On the twenty-second of February the plans of the
University were publicly made known, and consequently "Washington's
Birthday" has since been observed as an anniversary or commemoration
day. But in reality the Trustees were organized nine years before. The
founder, Johns Hopkins, as he saw the end of life approaching (although
he continued in active business for several years afterwards),
determined to bestow a large part of his fortune upon two institutions
which he proposed to establish, a University and a Hospital. These
establishments were to be managed by separate Boards of Trustees,
citizens of Baltimore, whom he selected for their integrity, wisdom, and
public spirit. In order that the two Boards might be closely allied, the
founder was careful that a majority of the Trustees of one corporation
should also be a majority of the Trustees of the other corporation, and
in a letter which he left as the final expression of his wishes, he
declared it to be his "constant wish and purpose that the Hospital
should ultimately form a part of the Medical School of the University."
The Hospital was opened for the reception of patients in May, 1889; and
a volume which was prepared in the following year by Dr. J.S. Billings,
gives a full description of the buildings, with other papers
illustrative of the history and purposes of that great charity. But as
the Medical School, which is to form the bond of union between the two
establishments has not yet been organized, the following statements will
only refer to those opportunities which are here provided for the study
of science and literature, in the faculty commonly known as the faculty
of philosophy and the liberal arts.
Before speaking of his gifts, a few words should be devoted to the
memory of Johns Hopkins. This large-minded man, whose name is now
renowned in the annals of American philanthropy, acquired his fortune by
slow and sagacious methods. He was born in Anne Arundel county,
Maryland, not far from the city of Annapolis, of a family which for
several generations had adhered to the views of the Society of Friends.
His ancestors were among the earliest settlers of the colony. While
still a boy, Johns Hopkins came to Baltimore without any capital but
good health, the good habits in which he had been brought up, and
unusual capacity for a life of industrious enterprise. He began on the
lowest round of the ladder of fortune, and by his economy, fidelity,
sagacity, and perseverance he rose to independence and influence. He was
called to many positions of financial responsibility, among the most
important being that of President of the Merchants' National Bank, and
that of a Director in the Baltimore and Ohio Railroad Company. He was a
man of positive opinions in political affairs, yet he never entered
political life; and although he contributed to the support of
educational and benevolent societies he was not active in their
management. In the latter part of his life, he dwelt during the winter
in a large mansion, still standing on the north side of Saratoga street,
west of North Charles street, and during the summer on an estate called
Clifton, in Baltimore County. In both these places he exercised
hospitality without ostentation. He bought a large library and many oil
paintings which are now preserved in a memorial room at the Hospital.
Nevertheless, his pursuits were wholly mercantile, and his time and
strength were chiefly devoted to the business in which he was
engaged,--first as a wholesale grocer, and afterwards as a capitalist
interested in many and diverse financial undertakings. More than once,
in time of commercial panic, he lent his credit to the support of
individuals and firms with a liberality which entitled him to general
gratitude. He died in Baltimore, December 24, 1873, at the age of
seventy-nine years. He had never married. After providing for his near
relations, he gave the principal part of his estate to the two
institutions which bear his name, the Johns Hopkins University and the
Johns Hopkins Hospital. Each of them received property estimated in
round numbers at three and a half million dollars. The gift to the
University included his estate of Clifton (three hundred and thirty
acres of land), fifteen thousand shares of the common stock of the
Baltimore and Ohio Railroad, and other securities which were valued at
seven hundred and fifty thousand dollars.
Many persons have expressed surprise that Mr. Hopkins should have made
so large an investment in one corporation. But the stock of the
Baltimore and Ohio Railroad was free from taxation, for many years it
paid a dividend of ten per cent. per annum, and the managers, of whom he
was one, confidently anticipated that a large stock dividend would be
declared at an early day. Mr. Hopkins not only gave to the University
all the common stock that he held in this corporation; he also advised
that the Trustees should not dispose of it, nor of the stock accruing
thereon by way of increment or dividend. In view of the vibrations to
which this stock was subjected during the fifteen years subsequent to
the death of Mr. Hopkins, it should not be forgotten that it was his
will that linked the fortune of the great educational institution, which
he founded, to the fortune of another corporation, in which he had the
highest confidence. Fortunately, the crisis into which this union led,
has been successfully passed. The friends of the University generously
subscribed for its support an "emergency fund" of more than $100,000.
Other large gifts were made and others still are known to be in the
future. The Trustees, moreover, have changed four-fifths of their
holdings of the common stock of the railroad company above mentioned,
into its preferred stock, from which a permanent income of six per
centum will be derived. The finances of the University are now on a
solid basis, although additional gifts will be required for the
construction of buildings and for the enlargement of the course of
study, and still more before a medical department can be instituted.