11 February 1826: England gets its third university
London University – later University College, London – was founded on this day in 1826, becoming in the process England's third university.
England has a proud history of university education. The oldest, Oxford University, was founded some time in the 11th or 12th century. Probably – nobody's quite sure. Cambridge came into being at the beginning of the 13th century after Oxford students and townies fell out, leaving two students dead. But for the next 600 years, they were the only universities in England. (For a brief period between 1261 and 1265, there was the University of Northampton. But Oxford saw that as a threat, and so it had to go.)
It wasn't until 1826 that England got a third university (Scotland had four, founded between 1413 and 1592), when “London University” – later to be renamed University College, London – was founded. (There is some debate, however, over whether the UCL actually was a university. It was a private company with shareholders, and did not receive a royal charter.)
In contrast to Oxford and Cambridge, where one had to be a member of the Church of England to study, UCL was founded on strict secular lines, open to anyone, regardless of their religion. (Anyone male, that is – it would take another 50-odd years before women were allowed in on the same basis as men.) This godless nonsense caused quite a stir. So to counter it, King's College was set up in 1829 to provide an Anglican alternative in London.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The two colleges soon put aside their theological differences, however, when in 1836, they combined forces to form the federal University of London. London University underwent a rapid expansion in the 20th century, with Bedford College, Royal Holloway College and the London School of Economics joining in 1900. It currently has 17 colleges with over 120,000 students.
The early 20th century saw a wave of new universities founded in England, including Manchester, Birmingham, Liverpool, Leeds and Sheffield. And in the 1960s, the number of universities more than doubled. In 1992, the Further and Higher Education Act saw many polytechnic colleges become universities. The current number of universities in England stands at 91.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.
Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin.
As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.
-
Autumn Budget 2024: chancellor scraps high income child benefit reforms
Plans to move child benefit eligibility to a household income system have been shelved
By Marc Shoffman Published
-
How have investment markets responded to the Autumn Budget?
Markets were calm while Reeves delivered her Budget speech, but turned sour in the aftermath as investors digested the full implications of her fiscal plans
By Katie Williams Published
-
31 August 1957: the Federation of Malaya declares independence from the UK
Features On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
By Jasper Spires Published
-
13 April 1960: the first satellite navigation system is launched
Features On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
By Ben Judge Published
-
9 April 1838: National Gallery opens in Trafalgar Square
Features On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
By Ben Judge Published
-
3 March 1962: British Antarctic Territory is created
Features On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
By Chris Carter Published
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
By Chris Carter Last updated
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
By Ben Judge Last updated
-
8 March 1817: the New York Stock Exchange is formed
Features On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
By Chris Carter Last updated
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
By Ben Judge Last updated