UNT was founded in 1890 as Texas Normal College and Teachers' Training Institute. Joshua C. Chilton, the founding president, leased facilities above a hardware store on Denton's square to establish a teacher training institute. His charge to the faculty at its first assembly remains an important part of UNT's value system: "It will be our aim to become leaders in the education of the young men and women of Texas, fitting them to creditably fill the most important positions in business and professional circles.