Bernard M. Baruch College/CUNY A center of commerce by the 1840's, NYC attracted a growing immigrant population. Townsend Harris, President of the Board of Education, saw the need for publicly-supported higher education. In 1849, his vision was fulfilled when The Free Academy opened here, "for the poor man's children," with a class of 149 men. In 1866, it became the College of the City of New York. It is now Baruch College, known globally for excellence in business education.