Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-02-14

81
I deeplv. therefore, that il Is the duty an
privilege of the more favored and veal
thy portions OF our nation TO assist thOs
who are less fortunate; and with tn
, ,, wish to discharge, so far as l may b
able, my own responsibility in this mat
ter, as well as to crafty my desire to ali
those to whom ! am bound by so man.
ties Of attachment and regard, give L
YOU, gentlemen, most of whom havi
been my personal and especial friends
the sum of one million of dollars to b
by your successors held in trust, and thu
income thereof used and applied in you
discretion for the promotion and encour
agenlent Of intellectual, moral or indus
trial education among the young OF the
more destitute portions of the southern
states of our union, my purpose Deing
that the benefits intended shall be dis'
tributed among the entire popuialonr
/ without other distinction than the needs
! and the opportunities of usefulness 10
/ them. Besides the income thus devised,
/ l give you permission to use from the
I principal sum within the next two years
an amount not exceeding forty per cent.
In addition to this gift place in your
FSands bonds of the state of Missis-
dNppi issued to the Planters bank,
and commonly known as Planters
bank bonds, amounting, with interest,
to about one hundred thousand dollars,
the amount realized by you from which
is 10 be added to and used for the purpose
of this trust. These bonds We're orlgt-
nally issued for payment for stock IN tnat
bank, held by the state and amounted IN
all 20 only s., 600 600. For many years
the state received large dividends from
that bank, over and above the interest
On bi1eso boads- The state paid the in-
terest without interruption till 1910,
since which no interest has been paid,
except q payment Of 500 600, which was
found in the treasury applicable to the
payment Of the coupons, and paid by
mandamus of the supreme court. The
validity of these bonds have never been
questioned, and they must net be con-
founded with another issue of bonds
made bg the state to the Union bank. the
recognition OF which has been a subject
of controversy with portion Of the
population of Mississippi, various sets
of the legislature, viz: of February
%. 1872; February %, 1874; Feb
ruary lG, 1876; February 2S, 1915
March 4, lS4S, and the highest Judicial
tribunal of the state, have confirmed
their validity; and / have no doubt that
at AN early day such legislation will be
had as 10 make these bonds available in
increasing the usefulness of the present
trust Mississippi, though depressed, IS
rich in agricultural resources, and cannot
long disregard the moral obligations rest
ing upon her, to make provision for their
payment. In confirmation of what l
have said in regard to the legislative and
judicial action concerning the state bonds
issued by the Planters bank, l herewith
place in your hands the documents
marked A The details and organization
of the trust 1 leave with you, only re-
questing that Mr.. Winthrop may be
chairman and Gov. Fish and Bishop
McIlvain vice-chairmen Of your body.
And / give to you power to make all
necessary bylaws and regulations tc
obtain an act to incorporate, If any shall
he found expedient. To provide for the
agents appointed by them, and
generally TO do all such acts aa
may be necessary for carrying out
the provisions Of the trdst. All
vacancies occurring in your number by
death, resignation, or otherwise, shall
be filled by your election as it convent
emily may be, and having in view an
equality of representation as far as re-
CARDS the northern and southern states.
l furthermore give to you the power
in case tWO-thirds of the trustees shall at
any time after the lapse of thirty years
deem it expedient to close this trust, and
of the funds which shall at this time be
in the hands Of yourselves and your
successors, to distribute not less than
two thirds among such educational pu,-
poses, as they may determine in the
states for whose benefit the income is
now appointed to be used, the remaindBr
may Ea distributed by the trustees fox
educational or literary purposes when
ever they may deem it expedient. In
Waking this gift l am aware that the
lund derived from il can but aid the states
which desire to benefit in their own
sxertions to diffuse the blessings OF
education and morality. But if this en-
dowment shall encourage those now anX-
ious for the light Of knowledge and
stimulate TO new efforts the many good
and noble men who cherish the highest
purpose Of placing our great country fore
most not only in power, but in the intel
ligence and the virtue Of her citizens, it
will have accomplished all that can
hope. With reyerent recognition of The
nesd of the blessing of Almighty God
upon my gift, and with the fervent prayer
that under His guidance your counSels
may be directed for the highest g0od Of
present and hre generations in our be-
loved country
l am, genSp.nen, with great respect, your
humble servant, GEORGE PEABODY.
WAsHr> eroS, February z.
Upon the receipt Of the above letter by
the Hon. Robert &. Winthrop, meeting
of the gentlemen named in it was called
to consider the matter, I,hereupOn the
following resolutions were presented by
bishop Mcllvaine, of Ohio, and signed
by those trustees present in Washington
WHEREAS, Our cOuntTyman and
friend, George Peabody, has in letter
lust communicated to the undersigned,
made known his determination, out of a
grateful sense Of the manifold goodness
with which God has FrOspered his life,
and of an earnest desire to promote the
best interests of hia fellOw-cidsens, To
devote 8 munifoent donation Of property
for certain benificent uses indicated in
said letter, and has requested us to take
in trust the charge and management Of
the same; therefore,
ReSO'Ued, That the undersigned be-
ing the trustees, assembled in Wash
ington, deeply sens bic Of the hanOr con-
ferrad on them by Il trust Of such emil
nent importance and responsibility, and
EEEllLlltE
ance and blessing of God TO be enabled
10 discharge its duties with such wisdom
and faithfulness as may best secure the
benevolent designs of the gifts, do hereby
accept the Office of trustees Of the same,
and promise Cur best endeavors in its
behalf.
ResOlUed, That We hereby express TO
Mr.. Peabody our grateful appreciation Of
the enlarged and unprecedented gener-
osity which, after having bestowed on
the poor of the city of London bounty
that drew forth the admiration Of Eu-
rope, and after having exceeded the same
on his recent return TO his native land
in benefactions 10 institutions o. learn
ing in the middle and eastern states OF
the union, has now crowned the whole
with this last deed Of patriotism and
loving kindness, so eminently suited to
bind together the several parts OF our be-
loved country in the last bond Of mutual
well.doing and regard.
ResclUed, That we express TO ldr. Pea
body our respectful aud affectionate
prayer that in the gracious providence OF
our Heavenly Father, his valuable life
may be long spared 10 witness the sue
cess of his benevolent contributions To
the happiness OF his fellow-citiZsns in all
parts Of his native and beloved land, and
that many Of those whom God has
blessed with large possessions may be in,
: duced to follow his example Of wise ano
noble employment Of wealth for the good
/ OF man and the glory of God.
/ These resolutions are signed by ROber
( c. Winthrop, Charles P. Mcllvaine, U
:. Grant, general L. s. A, VIVA. Aiken
i VIM. NJ. Evans, G. McAllister, Geo. w
Riggs, Samuel WetmOre, Geo. W. Eaton
/ George Peabody Russell,
an organization has already beer
effected Of which the Hon. Robert c
Winthrop Of Mass, is chairman, an'
Mr.. Russell, of Mass, secretary. Com
mittees Of finance and inquiry have beel
appointed, and it is the intention o
trustees to commence active operation
as soon as possible.
THE FREEDMAN AS a PAGAN.
From the Richmond Times.l
Three centuries of civilization an
christianity have not, we fear, eradi
Gated the filthy paganism Of the natlv
African from the American regro. IN
evidence is coming to US from all qual
ters that in the shape OF voodoism,
"setischism y OF some other form OF 81
, perstitious disbolism, the emancipate
negroes are forsaking christianity an
{ devoting themselves to the worship
the devil. The Georgia and Mississippi
papers TEEN with statements showing
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