Page:The History of the University of Pennsylvania, Wood.djvu/15

Rh and declared to be unalterable: others were also drawn up, adapted to the object in view, but alterable at the pleasure of the board. They were signed by the trustees on the 13th of November, 1749.

Having thus constituted themselves governors of the proposed institution, they proceeded to provide funds for its establishment; and on the day following that of the signature, very liberally subscribed among themselves a sum exceeding two thousand pounds, to be raised in five yearly payments, "declaring it to be for the encouragement of their useful, good, and charitable undertaking; and to enable themselves and their successors to begin, promote, continue, and enlarge the same, humbly hoping, through the favour of Almighty God, and the bounty and patronage of pious and well disposed persons, that it might be of great and lasting benefit to the present and future rising generations." To the amount thus contributed, very considerable additions were afterwards made by subscriptions among the citizens, by gifts and legacies from charitable individuals, and by various other means which will be noticed more particularly hereafter. But as these funds were not immediately available, it was necessary, in the commencement, to have recourse to a loan, and the trustees accordingly borrowed eight hundred pounds, on their own joint bond.

The next object was to procure a suitable building; and in this, they were remarkably fortunate. The celebrated Whitfield had arrived in America a few years before this