The Virginia Historical Society was founded in 1831. Like most of the nation's older historical societies, it has always been a private organization; one that derives virtually all its support from membership and endowment. At the organizational meeting in 1831, Chief Justice John Marshall was elected its first president, and former president James Madison was elected its first honorary member. During the early years, between 1831 and 1861, the Society acquired valuable books, manuscripts, museum objects, and natural history specimens for its collections. From time to time, it published the texts of historic documents and the addresses delivered at its annual meetings. It was hampered, however, by having virtually no endowment and no permanent home.