The beginnings of Wesley College came from a decision of the colonial government of Victoria in the wake of the Victorian gold rush to grant land and funds to four religious groups, including the Wesleyan Methodist Church, for the purpose of establishing colleges in Melbourne. In 1854, the government offered the Wesleyans facing St Kilda Road. Major benefactor Walter Powell encouraged other Wesleyan Methodists to bridge the gap in funds between the government grant and that required to build the school. Daniel Draper and others subsequently contributed sufficient funds. The foundation stone was laid at the present site of the St Kilda Road campus on 4 January 1865. Draper drowned at sea on the day of the school's official opening on 11 January 1866.