Leland Stanford Junior University opened on October 1, 1891 to 559 students. On the university's opening day, Founding President David Starr Jordan said to Stanford's Pioneer Class: "[Stanford] is hallowed by no traditions; it is hampered by none. Its finger posts all pointStanford was founded by Leland Stanford, a railroad magnate, United States Senator, and former California governor, and his wife, Jane Stanford. It is named in honor of their only child, Leland Stanford, Jr., who died in 1884 just before his 16th birthday. His parents decided to dedicate a university to their only son, and Leland Stanford told his wife, "The children of California shall be our children." The Stanfords visited Harvard's president, Charles Eliot, and asked how much it would cost to duplicate Harvard in California. Eliot replied that he supposed $15 million (in 1884 dollars) would be enough.