Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1858-07-30
THE GAZETTE.
AN ENGLISH MILLIONAIRE.
FRIDAY MORNING, JULY 80, 1855

a.
one richer than Rasselas, --even to the his
torv of ono Peter Thellusson, late of the city
of London, merchant. zE
II is now sixty two years since Peter Thel-
lusson took stock OF his worldly possessions,
aud found that he had 600,000l in money,
and land Of the annual value Of 4,5OOl. Peter
Thellusson had satisfied the ordinary au.-
bition Of an English bourSeos-he had found
ed family. Peter Isaac, the SOD of his youth
and the prop Of bis house, was heir to 90
000l year in money and land, and might
claim TO be born gentleman. Peers ADD
Peeresscs might hereafter spring 10 intertne-
date succession from the loius Of that deni-
zen of q d;Dgy little back parlour pehibd the
Bank. The best men upon Change enVied
the rich and prosperous Peter IhellnssoD,
who had nc object Of mbition unsatlshed-
Peter was of a different mind; he had not
near money enough. Let other men be
satisfied to found one family; Peter was lucky
enough to have three SONS, and be would
found three fsmilies. 1t was not that he
loved his sons; or his sons sops; but IT was
the hope and desire of this magnificent
posthumous miser to associate his name IN
future generations with three colossaifortnDcs.
II be did not love his sors be did not hate
them; he was simply Indifferent to every
thing except 10 his one CHERISHED OF
;cct. Peter Thellusson took the very best
legal advice, and made will. lie lei; u
few trtirg legacies, probably to show that
no unnatural aptipatby to his children tam
ted that will with mania. But his great for
tune was all conveyed to trustees. 1t was to
accumulate until every man. woman, and child
of the offspring Of Peter. and alive or begotten
at the moment of Peters death should also be
defunct. No one of the children or grand
children who bad ever looked Peter In the
face or trembled in bis presence, or quailed
at the sound of his harsh, hard voice, should
ever be the richer for Peters wealth. "And
the rich man also died." Twelve months
after making this will, and sixty-oDe years
from the present time, Peter was gathered
to bis unknown fathers. The will was open
cd, and created sensations which S!brated
through the land in widening circles. Our
law books picture to US the blank disappoint-
ment Of the then living relatives, the gentle
cachinnatioDs of a past generation of lawyers
and the gaping wonder of the general public.
There were three sons and six grandsons OF
this malignant old merchant then alire--alt
destined TO live the life of Tantalus; to see
this great pagoda-tree growing up before
them, yet never to pluck one unit OF Its fruit.
The terms Of the will enjoined, that when
the last survivor of all the nine children and
grandchildren should yield up bis breath,
then the charm was to end; the great mour-
tain Of accumulated wealth WAS TO be divi-
ded into three portions and one-third was to
be given to each OF the "eldest male lincal
descendants" of his three sons. Having thus
done what be liked with bis owr, aad exclu
ed all bis living progeny from all benefit, be
ends with whine to the Legislature worthy
Of Sbylock appealing against mercy--he had
earned his money with honesty and industry
and be hoped the Legislature would not alter
his will. Of course, the first thing that fol-
lowed was Chancery suit of the latest bulk
The common sense view of the case would
have been to set aside the will, as the pro-
duct of diseased mind--reBdered morbid
as to it's disposing powers by dwelling upon
an irrational object. But Lords Loughbor-
ough and AlvaDley and EldoD, and judges
of kindred sympathies, seem to have been led
by their love of art, to admire the skill with
which the technicnlities of our blessed real
property law had been adapted to the object
of this old trader. Perhaps, also, they saw
something eninently sane and matterof-fact
10 this good old sOrdid vice Of accumulation,
or were excited to admiration by seeing the
meanest vice of man expanded into something
like sublimity in it's gigantesque proportions.
The litigation went up to the House OF Lords
and the will was confirmed. This affair ma
turally made great noise. The Legislature
took IL up. and, although they would not set
aside the will by an &C post facto law, they
branded Peter Thellussor's memory With the
imputaton Of vanity, illiberality, and folly;"
aud enacted by statute, 39th aud 4oth OF
George Ill, chap, %, that the power OF devils
ing property for the purpose OF accumulation
shall be restrained 10 general to Il years al
ter the death Of the testator. Persons OF an
arithmetcal and statistical turn Of mind al
so occupied themselves with the matter, and,
with the aid of life insurance tables and Coo
ker, they calculated that this fund, accumu.
lating Mt compound interest, could aot amount
to less than nineteen millions at the moment
Of distribution, and would very probably
reach the tremendous figure of thirty-two mil
lions. But nothing is so false as facts, ex-
cept figures" The calculators had forgotten
to take account of that unknown quantity
which must, in practical matters, be repre-
scented, not by the letter ~" but by the
word Obligation" Contemporaneously with
the ChaDcery suit to set aside the will, there
was q cross-sut to have the trusts Of the will
performed under the direction Of the Court
of Chancery That suit ia now GO years old,
and, although children and grand children
are dead, the suit is as hale and lively as it
was in their earliest youth. That suit was
the true heir to Peter Thellusson. and it is
still spending bis money like Troublesome
young cornet. Necessarily, there were 9th
or suits. There were suits about post-testa-
ment acquisitions of real property, there
were suits about advowsops, there were suits
about other matters, 90 numerous that even
equity lawyers, not stirgy of their words, are
fam to describe them as various" The
careful and improving management of the
Court of Chancery has also exercised its in-
fuence upon this estate. The Yorkshire es-
tstes have participated in that excellent sys-
tenn which has been so uniform in its action,
that when We see house all windowless and
unpainted, tottering and decayiDg, we can
predict with tone Of undoubtipg conviction,
THAT property is in Chancery."
The last survivor of the nine lives died in
February, 1856, and four new bills were i'm
mediately filed. The property is to be divi-
ded, not into thirds, but into moieties.-
There is. however, q question raised as to
Ut ho il entitled Who were the oldest male