The cornerstone of this building was laid June 7, 1832, and teaching began in 1836. First operated under a royal charter by the Wesleyan Methodists as Upper Canada Academy, in 1841 it obtained a provincial charter under the name of Victoria College, giving it power to grant degrees. Victoria's first president was the Reverend Egerton Ryerson, newspaper editor and founder of Ontario's present educational system. In 1890 the college federated with the University of Toronto and, in 1892, left Cobourg.