Joseph Caldwell was the first president of The University of North Carolina (1804 - 1812 and 1816 - 1835). Caldwell was born on April 21, 1773 in Lamington, New Jersey. His father, Joseph Caldwell, was a physician, and his mother, Rachel Harker Caldwell, was a homemaker. His father died two days before Caldwell was born due to a ruptured blood vessel in his lung, leaving Caldwell's mother with little money. Caldwell's family was forced to move frequently because of their unstable financial situation. 

Caldwell did well in school because of his interest in his studies. He graduated from the College of New Jersey (now Princeton) in 1791, after which he began teaching in Elizabethtown, New Jersey. During this time, Caldwell also studied theology and became a Presbyterian minister. In 1776, he accepted a position as a professor of mathematics at The University of North Carolina. After a childhood of frequent relocating, Caldwell stayed in North Carolina until his death. 

Caldwell married Susan Rowan, of Fayetteville, North Carolina, in 1804, the same year he was unanimously elected to serve as the university's first president. During his presidency, Caldwell worked to provide financial stability and curriculum standards for the new, growing university.

On one occasion, Caldwell wanted the university to add a second hall and a new chapel and expand the original building, Old East. When the faculty opposed his proposal because they wanted to buy more books and educational materials, Caldwell travelled to Europe and purchased $6,000 worth of materials for the university with his own money. His purchases benefitted the quality of education at the university, and the building projects were later completed. 

Caldwell was diagnosed with a chronic illness that contributed to a decrease in his regular activities and eventually led to his death on January 27, 1835. His remains now lie under an obelisk erected in McCorkle Place along with the remains of his wife and stepson. The monument was erected by his friends shortly after his death, and was replaced with a marble version in 1858, commissioned by his former students.