St Peter's College is one of the constituent colleges of the University of Oxford, Oxford, United Kingdom, located in New Inn Hall Street. It occupies the site of two of the University's oldest Inns, or medieval hostels - Bishop Trellick's, later New Inn Hall, and Rose Hall - both of which were founded in the 13th century and were part of the University in their own right. During the First English Civil War, the University's college plate was requisitioned by the King's Oxford Parliament and taken to New Inn Hall to be melted down into "Oxford Crowns". In the 18th century, William Blackstone became the Principal of New Inn Hall after being appointed the Vinerian Professor of English Law at Oxford. New Inn Hall and Rose Hall later became part of Balliol College. The modern history of the college in its present form began in 1929 when St Peter's Hall was founded by Francis James Chavasse, Bishop of Liverpool, who was concerned at the rising cost of education in the older universities in Britain, and projected St Peter's as a College where promising students, who might otherwise be deterred by the costs of College life elsewhere, could obtain an Oxford education. The commitment to make Oxford accessible to any student of ability, irrespective of means, remains a feature of St Peter's today. In 1961, the University approved a statute giving St Peter's Hall full collegiate status. With the granting of its Royal Charter in the same year, it took the name St Peter's College. As of 2006, the college has an estimated financial endowment of £34 million.