The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-02-13
George Peabody.

George Peabody.
In Saturdays issue of the Phnni.r.
we published, in our telegraphic CO.
iumns, brief summary of the fol-
lowing letter, and the names of the
gentlemen to whom it was atldressed
We believe, however, that such a
letter should be put upon record by
every Southern newspaper, as a tri-
butte of respect and esteem to the
noble-hearted man who makes such
a princely donation for the purposes
indicated:
GENTLEMEN: I beg to address YOU
on 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 distin-
guished and valued friend, to whom
1 am SO much indebted for cordial
sympathy, careful consideration and
wise counsel in this matter will re-
member that I consulted him imme-
dlateiy upon my arrival in May last.
l refer to the educational needs of
those portions of our beloved and
common country which have suffered
from the destructive ravages and the
not less disastrous consequences of
civil war.
With my advancing years, my at
tachment to my native land has but
become more devoted. My hope and
faith in its successful and glorious
future have grown brighter and
stronger, and now, looking forward
beyond my stay on earth, as may be
permitted to one who has passed the
limit of three score and ten years, 1
see our country united and prosper
GUS, emerging from the clouds which
still surround her, taking a higher
rank among the nations, and be-
coming richer and moreH: powerful
than ever before.
But to make her prosperity more
than superficial, her moral and intel
lectual development should keep pace
with her material growth, and in
those portions of our nation to which
have referred, the urgent and press
ing physical needs Of our almost i'm
poverished people must for some
years preclude them from making,
by unaided effort, such advances in
education and such progress in the
diffusion of knowledge among all
classes, as every lover of his country
must earnestly desire.
feel most deeply, therefore, that
it is the duty and privilege of the
more favored and wealthy portions
of our nation to assist those who are
less fortunate, and, with the wish to
discharge, SO far as / may be able,
my own responsibility in this matter,
as we'll as to crafty my desire to aid
those to whom [ am bound by so
many ties of attachment and regard,
give to you, gentlemen, most Of
whom have been my personal and
especial friends, the sum of one mil
: lion dollars, to be by you and your
successors held in trust, and the in
come thereof used and applied, in
your discretion, for the promotion
and encouragement of intellectual
moral or industrial education among
the young Of the more destitute por-
tons of the Southern and South
western States of orr Union; my pur-
pose being that the benefits intended
shall be distributed among the entire
population, without other distinction
than their needs and the opportnl.i
ties Of usefulness to them.
Besides the income thus devised, I
give to you permission to use from
the principal sum, within the next
two years, an amount not exceeding
forty per cent.
In addition to this gift, I place in
your hands bonds of the State OF
Mississippi, issued to the Planters
Bank, and commonly known as Plant
er's Bank bonds, amounting, with in
terest, to about 81, 100000, the
amount realized by you from which
Is to be added to and used for the pur
pose of this trust.
These bonds were originally ISSUED
In payment for stock in that bank
held by the State, and amounted il
all to only $2,O00,OO0. For many
years, the State received large divi
dends from that bank over and above
tho m 4Loco