Delaware State journal and statesman. [volume] (Wilmington, Del.) 1855-1870, 1867-02-15
MR. GEoRGH PEABODV's LATEST
MUNIFICEMT GIFT.

Inc following letter from MT. george Gu
body, and the accompanying resolutions,
will explain themselves
To the Hon Robert Winthrop, Of Massa-
chusetts; Hamilton Fish, Of New York; Right
Rev. Charles P. McIlvaine, of Ohio; General
U. s. Grant, of the U. s. Army, Hon. VIM.
@. Rives, of Virginia; Hon. John H, Clifford,
of Massachusetts,; Hon. VIM. Aiken, ofSouth
Carolina; VIM. NJ. Evart, Esq, of New
York; Hon. William A. Graham, Of North
Carolina; Charles Manchester, OF Pennsyl-
vania; George w. Riggs, of Washington;
Samuel Wetmore, Esq, of New York. Ed
ward A. Bradford Esq, OF Louisiana; Geo.
N. Eaton, Esq of Maryland, and George
Peabody Russell, Esq, of Massachusetts
Gentlemen:--I beg to address you ON a
subject which occupied my mind long before
I left England, and in regard to which, one
at least, Of you, the Hon. Mr.. Winthrop, the
distinguished and valued friend to whom
am 80 much indebted for cordial sympathy, |
careful consideration and wise counsel in
this matter, will remember that consulted
him Immediately upon my ARRIVAL, IN May
last. refer to the educational needs OF
those portions OF our beloved country which
have suffered from the destructive ravagea
and the not less disastrous consequences oil
civil war. With my advancing years, my
attachment TO my native land has but become
more devoted. My hope and faith in Its
successful and glorious future have grown
brighter aud stronger, and now, looking
forward beyond my stay on earth, as may
BIO permitted TO one who has passed the limit
of three score and ten years, see our coun'
try, united and prosperous, emerging from
the clouds which still surround her, taking
higher rank among the nations and becom-
Ing richer and more powerful than eVor
before
/ But to make her prosperity more than
! superficial, her moral and intellectual de-
velopment should keep pace with her ma
/ terial growth, and in those portions oil our
! nation, to which have referred, the urgent
and pressing needs of an almost impoverish-
ed people, must, for some years, preclude
8 them from making, by renewed efforts, such
9 advances in education and such progress oil
y the diffusion of knowledge among the class
;. ca az every lover of his country must earn
|
= estly desire.
y feel most deeply, therefore, that 1t Ia thu
T. duty and privilege of one more favored anC
. wealthy portion Of our nation, to asSis
" those who are less fortunate, and with tn
er wish to discharge, as far as may be able
:, my own responsibility In this matter, a
ID well as to crafty my desire to aid those b,
ID whom am bound by 30 many ties OF attach
" ment and regard, give to you, gentlemen
i. most of whom have been my personal an
d. especial friends the sum OF $l,OoO,oUO,
be by you and your successors, held in trua
and the income thereof used and applied,
he your discretion, for the promotion and ell
ng couragement of intellectual, moral and Il
~ dustrial education among the young OF Il
,ss more destitute of the Southern and Sout
np, western States Of our Union, my purpo
sen being that the benefits intended shall be d
"a, ,n tributed among the entire population, wit
lac out other distinction than their needs al
Of the opportunities of usefulness to them.
APP Besides the income thus devised give
IN you permission TO use from the princlI
The sum within the next two years an amor
gus not exceeding 40 per cent.
,.r, In addition to this gift place in "
hand bonds of the State Of Mississip
the issued to the Planters Bank, and common
'st, known as "Planters' Bank Bonds" amou
a .uS ing, with the interest, to about N,lOo,O
ex. the amount realized by you from which IL
pro- be added to and used for the purposes OF t
In trust.
that These bonds were originally issued
gov. payment for stock in that bank, held by
N 10 State, and amounted ia all to only $40
'Oso 600. For many years the State recei
The large dividends from that bank, over
pre- above the Interest on these bonds.
ora,s State paid the interest, without interrupt
'a .no until 1910, since which no interest has
, bill, paid except payment of about $lOo,
Noel which was found in the treasury, apple
POKE to the payment Of the coupons, and pal
, snos a mandamus Of the Supreme Court.
AIKEN validity Of these bonds has never been
Re- toned, and they must not be contour
was with another issue OF bonds made ny
-. State to the Union Bank, the recognize
W. which has been a subject OF eontroV
Z, rv with portion OF the population OF h
Ovsrn- slppi.
ma by Various acts of the Legislature, viz
10y "rs II February as, 1s4s; February %, 1884,
! CON ruary 10, 1s4e; February 9s, 1896 Mar
The 1s4s, and the highest judicial tribunal
~ PHI State has confirmed their validity, a
Win have no doubt that at an early day
icer Of legislation will be had as to make
: Com bonds available in increasing the useir
~ Elm ,ss OF the present trust Mississippi, IL
Wade now depleted, IS rich in agriculture
Of the sources and cannot long disregard the
Of a obligation resting upon her to make
.s ssSST vision tor their payment. In confirm
Govern. of what have said in regard to the
scsived latiye and Judicial action concernin
'sugel State bonds issued to the Planters b
iSs Re-. herewith place In their hands the doc
Ablish- marked A.
ouinsrn The details and organization OF tn
Blaine leave with you, only requesting IN
J on the Winthrop may be chairman, and 90
cd. Mr.. Flsh and Bishop McIlyaine vice chair
!. 81 ,o one your body; and give to you power u
all necessary bylaws and regulate
obtain an act of incorporation, If an
be found expedient; to provide for
writing nenses Of the trustees and of any
ng Incl appointed by them, and generally to
urrence such acts as may be necessary for CT
at Penn out the provisions Of the trust.
lad sent an .,o.a, e;au ariainO In number by