The first endowed chair at Cornell was the Professorship of Hebrew and Oriental Literature and History donated by New York City financier Joseph Seligman in 1874, with the proviso that he (Seligman) would nominate the chairholder; and following his wishes, Dr. Felix Adler (Society for Ethical Culture), was appointed. After two years, Professor Adler was quietly let go. Seligman demanded an inquiry. On rebuffing Joseph Seligman in 1877, the Trustees established one of their guiding principles governing the receipt of gifts, "That in the future no Endowment of Professorships will be accepted by the (Cornell) University which deprives the Board of Trustees of the power to Select The persons who shall fill such professorships".