In the 1850s, Davidson overcame financial difficulty by instituting "The Scholarship Plan," a program that allowed Davidson hopefuls to purchase a scholarship for $100, which could be redeemed in exchange for full tuition to Davidson until the 1870s. The college's financial situation improved dramatically in 1856 with a $250,000 donation by Maxwell Chambers, making Davidson the wealthiest college south of Princeton. The Chambers Building was erected to commemorate this gift. On November 28, 1921, the Chambers Building was destroyed in a fire but was reconstructed eight years later with funds provided by a generous gift from the Rockefeller family. The Chambers Building continues to be the primary academic building on campus.