The Norfolk post. [volume] (Norfolk, Va.) 1865-1866, 1866-03-17
"REPuBLICAN SIMPLICITY"

night.
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REPUBLICAN, SIMPLICITY"
While the Queen of England, whose
priyate fortune is immense-is perpetu-
ally asking the British Parliament for
money for her children, Mr.. George Pea
body. native of Danville; Massachu-
setts, is giving over million of dollars
to the poor If London. The following
letter is worthy of place in history:
LONDON, January 90.
GENTLEMEN: When / made dona-
ton of e150,0O0 for the benefit OF the
poor of London, in March, 1867, 1t was
my intention, if my life was spared un,
til my retirement from business, anu
Providence continued me in prosperity,
to place in your hands, rs trustees OF the
charity. a further gift for the same OBJ
iect. That time has now arrived but
before entering upon the subject of the
second donation, allow me to say few
words relative to the course you have
pursued with regard to the first. Your
duties and responsibilities have been
great. and the performance of the work
undertaken, you must have been aware,
would occasionally and incoDveniently
tax your valuable time; but, from high
motives of benevolence and duty, you
cheerfully accepted the trust, and can
not but express my grateful thanks for
YOUR constant attendance at the meet
ings of the board, and my qualification
at the great success that has attended
your labOrs.
With regard to this, my second gift.
it is nv desire that in the appointment
of future trustees, the same rules may be
continued as adopted for the first and
that the United States Minister at the
Court of st. James, for the time being,
shall always be one of them.
now propose that, as soon as deed
can be prepared by your solicitor, to
fully and legally meet the views and di-
rections which l shall state herein, to
transfer into your names 1900 full paid
MI shares of stock in the Hudson's Bay
Company, of EGO each, amounting tG
100000, and representing one-twentietll
part of that vast territory. 1t Is my de.
sire that all dividends, as they fall due
and are collected, shall be at once in
vested in shares of the company until
the market value of the capital and lit
vested accrued dividends reaches the
sum of el20, 900, which, it is my impress
btOll, uluN NC W lliiii WV VI y CniG
but should be mistaken in this antici-
patton, and should the market value of
the entire shares, including those ac-
auired by the REIMBURSEMENT ofdividends,
be less than el00,0 at the expiration of
two years from this date, will at that
time either make up the deficiency or
take the shares, paying for them 9l00, :
600 in cash, as the trustees may think
best for the interest of the fund and in
the event of my death before that time,
my executors will he duly authorized
and directed to fulfill this engagement.
Should the shares be taken by me for
$780, 900, or sold to others at the limit
stated above, [ desire that the proceeds
shall be invested in safe securities in
Guiding interest aceruing on the same up
60 the 1st of July, 1859, when yon or
your successors will consider all restric-
tons regarding sales at an end.
The delay thus caused in appropriat-
ing this gift to the charity will, think.
act beneiicially by enabling you, first to
eXpepd G76 600 now remaining on hand
of the former donation, thereby testing
by further experience the wisdom of the
course you have hitherto pursued. TAX
ing the joint capital of the two gifts at
minimum of f250,0 it will form a
fund the operation Of which is intended
To be progressive in its usefulness as ap-
piled to the relief of the poor of London,
$50 correctly defined in your recent re-
port,) without exclusion in consequence
of religious belief or political bias. 1t
will, therefore, act more powerfully in
future generations than in the present;
1T is intended to endure forever. A CEN
fury in the history of London is but a
brief period comparatively with the life
life of man, and should your SUCCESSORS
continue the management of charity ns
you have begun it, it Is my ardent hone
and trust that within that period the
annual receipts from rents for buildings
of this improved class may present such
return that there may not be
poor working man of good character in
London who could not obtain comforta-
BILE and heafthful lodgings for himself
and his family at cost within his'
means.
AS your course with regard to the for
mer gift of sl50000 is already defined in
your trust deed, [ can only express my
own views and wishes regarding the APP
preparation of the principal and income
of this second donation, and leave to
yourselves anu successors is manage it |
accordingly.
You are fully authorized to use any |
portion OF the fund in building lodging |
houses for the laboring poor, as expressed |
in my former letter; but as before many |
years it is to be apprehended that desira-
BILE sites for such buildings may be diff |
cult to obtain at moderate prices within
the limits of the metropolis, in that
event it is my desire that my trustees for
the time being may seek out and secure.
at such rates as the state of the fund may
such freehold sites, within ten
miles of the present Royals Exchange,
rs may appear eligible, both on account
OF salubrity of position and proximity