The interesting story of the foundation of _The Nation_ has been told a number of times, and it will suffice for our purpose to say that there were forty stockholders who contributed a capital of one hundred thousand dollars, one half of which was raised in Boston, and one quarter each in Philadelphia and New York. Godkin was the editor, and next to him the chief promoters were James M. McKim of Philadelphia and Charles Eliot Norton. The first number of this "weekly journal of politics, literature, science, and art" appeared on July 6, 1865. Financial embarrassment and disagreements among the stockholders marked the first year of its existence, at the end of which Godkin, McKim, and Frederick Law Olmsted took over the property, and continued the publication under the proprietorship of E. L. Godkin & Co. "_The Nation_ owed its continued existence to Charles Eliot Norton," wrote Godkin in 1899. "It was his calm and confidence amid the shrieks of combatants ... which enabled me to do my work even with decency."[185] Sixteen years after _The Nation_ was started, in 1881, Godkin sold it out to the _Evening Post_, becoming associate editor of that journal, with Carl Schurz as his chief. _The Nation_ was thereafter published as the weekly edition of the _Evening Post_. In 1883 Schurz retired and Godkin was made editor-in-chief, having the aid and support of one of the owners, Horace White. On January 1, 1900, on account of ill health, he withdrew from the editorship of the _Evening Post_,[186] thus retiring from active journalism. For thirty-five years he had devoted himself to his work with extraordinary ability and singleness of purpose. Marked appreciation came to him: invitations to deliver courses of lectures from both Harvard and Yale, the degree of A.M. from Harvard, and the degree of D.C.L. from Oxford. What might have been a turning point in his career was the offer in 1870 of the professorship of history at Harvard. He was strongly tempted to accept it, but, before coming to a decision, he took counsel of a number of friends; and few men, I think, have ever received such wise and disinterested advice as did Godkin when he was thus hesitating in what way he should apply his teaching. The burden of the advice was not to take the professorship, if he had to give up _The Nation_.