Rice also served as a member of the board of regents of the University of Minnesota from 1851 to 1859. Rice was president of the Minnesota Historical Society. In 1865 he ran for Governor of Minnesota, but lost the election. From 1878 to 1884 he was the treasurer of Ramsey County, Minnesota. As a United States Commissioner during 1887 – 1888, he continued to negotiate treaties with the Indians. He died on January 15, 1894, while on a visit to San Antonio, Texas.