Price now became a slave owner, and raised tobacco on the Bowling Green prairie. Popular because of his war service, he was easily elected Governor of Missouri in 1852, serving from 1853 to 1857. During his service as governor, Washington University in St. Louis was established, the state's public school system was restructured, the Missouri State Teachers Association was created, the state's railroad network was expanded, and a state geological survey was created. Although the state legislature passed an act to increase the governor's salary, he refused to accept anything except than the salary when he had been elected. Price became the state's Bank Commissioner from 1857 to 1861. He also secured a rail line through his home county, now forming part of the Norfolk and Western Railway.