New Miami" and Old Miami." "Old Miami" refers to the 1809-1873 period at Miami University. The Oxford institution was chartered Feb. 17, 1809, by the Ohio General Assembly. Miami opened as a log-cabin preparatory academy in 1818. Collegiate instruction began Nov. 1, 1824. The first class of 12 men was graduated in 1826. Financial problems forced the closing of the university from 1873 until 1885, when the state began direct monetary support ($26,000). The "New Miami" period began in 1885 when the university reopened.