Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-07-07

i $4,000 Pittsburg City four pc
cent. bonds !; dividends January
and July, due in 1913.
/ $4,000 Pittsburg City FIVE PEI
cent. bonds; dividends January
and July; due in 1918. 30 asml
$4,000 Louisiana State skies
dividends January and July.
| $4,000 New Orleans City skies
dividends January and July. ias'
1876 cash. .
Amounting in all to one million
Of dollars. These stocks are all o
the very highest character for Sc
curity, and the dividends are Gers
tain 20 be promptly paid.
The principal sum of one million
dollars, given by my first Letter Of
Trust, is still intact; the interest Of
which being added to that of my
present gift, makes the annual rev
enue of the Trust upwards of one
hundred and thirty thousand dol.
lars; a sum which, in the opinion
of your honorable chairman and
your general agent, is amply suffici
ent to meet all the requirements oil
the Trust, without infringing upon
the capital, until the time arrives
for the final distribution, as before
stated.
In addition to the foregoing,
give to you Florida six per cent.
bonds, which, with overdue cou~
pons, amount to about 1884, 000
These bonds, like the Mississippi
bonds, in my first gift, must before
many years be paid.
The Territory of Florida OBJ
tanned the money ON these bonds in
Europe at about par, and loaned it
to the Union Bank as capital.
The Territory received for some
time a high rate of interest, but,
after the bank suspended, paid the
bondholders nothing, but referred
them to the Union Bank, saying,
"Obtain what you can from the
Union Bank, and it will then be
time enough to come to u.s." Large
amounts of these bonds were pur-
chased by planters at about so per
cent, and used to pay mortgages
held by the Union Bank until there
was nothing moro left to be paid
and the small amount of these bonds
now outstanding (not exceeding, i
believe, two millions of the original
bonds must, / think, before long
induce Florida, as an act OF justice
long delayed, to make provision for
their payment a. - ..
All the stocks / have given as
above are to be held in trust by
yourselves and your successors, for
the same purposes and under the
same conditions as the funds given
you by my original letter creating
your trust.
| do this with the earnest hope
and in the sincere trust that, with
Gods blessing upon the gift and
upon the deliberations and future
action of yourselves and your gen.
eral agent, it may enlarge the sphere
of usefulness already entered upon,
and prove permanent and lasting
boon, not only TO the Southern
States, but to the whole of our dear
country, which l have ever loved so
well, but never so much as now in
my declining years, and at this time
(probably the last occasion shall
ever have to address you, as /
look back over the changes and the
progress of nearly three quarters of
a century. And l pray that
Almighty God will grant to it a
future as happy and noble in the
intelligence and virtue of its citizens
as it will be glorious in unexampled
power and prosperity.
l am, with great respect, your
humble servant.
GEORGE PEABODY.
SALEM, June 80, 1869.
The above letter having been read
and considered, was referred to a
special committee, consisting of
Gov. Aiken, of South Carolina !;
Gov. Graham, Of North Carolina,
and Hon. Samuel Watson, of Ten
nessee, who subsequently reported
the following resolutions, which
were unanimously adopted and
signed:
RESOLUTIONS.
Resolved, by the Trustees Of the Pea
body Education Fund, That we receive
with the highest qualification the letter
of our munifcent friend, Mr.. Peabody,
announcing so large an addition to our
means for carrying on his noble designs
for education in the Southern States
that we thankfully recognize in this act,
as well as in the express language of his
letter, his appreciation of the policy we
have thus far pursued, and his apprecIa-
ton of the success thus far achieved,
and that we hasten to assure him OF our
deep sense of the great liberality and
wisdom of his endowment, and of our
warm personal gratitude for confidence
he has reposed in us.
Resolved, That in accepting this Sec
ond princely gift, we pledge ourselves to
proceed in the executions OF the Trust
committed to us, with renewed resolu-
ton that nothing on our part shall be
wanting to secure the entire success oil
an enterprise so full of interest and i'm
portanee in itself, and which cannot fail
to produce the most valuable and lasting
influences upon the harmony and well
fare of our whole country.
Resolved, That we heartily and affec-
tionately congratulate MIR. Peabody on
being permitted to return in safety to his
native land to fulfill this cherished pur-
pose of his heart, and that we impiOre
| our Heavenly Father that his strength
may be restored, and his life spared I'M
til he shall have witnessed still more OF
the fruits of his benefcent plans, and
shall have enjoyed still longer the To-
spect and gratitude Of his country and OF
the world.
Resolved, That these resolutions be
communicated to Mr.. Peabody, with the
signatures Of all the trustees present al
this meeting, and that our excellent gen.
eral agent, DIR. Sears, be invited to afi1
his name with ours in attestatiOn Of the
qualification and gratitude which are
| common to US all.
Robert G Winthrop, Charles ? Nc
Ilvaine, d G Farragut, John ID Clifford
VIM A Graham, C McAlister, Samuel
Wetmore, George Peabody Russell, Geo
n Eaton, Samuel Watson, B Sears, Cen
sral Agent
After some other business, and prayer
4