The Portland daily press., 1869-11-06

he was permitted to enjoy only while mere
child, for at the age of II years he began prac
tical life as clerk in grocery store in Dan
vers. After four years of this kind of life he
spent year with his grandfather in Thetford.
VT, and then went to Newburyport TO act "a a
clerk for his brother in the dry goods bps;ness
but the great fire of Newburyport'' som INIT
an end to his brothers business, as well a.
that of an uncle who had carried on an exten-
sive trade at that place. The uncle removed
to Georgetown, D. c., an 4 took young George
with him. There they started anew in bust
ness, all transactions being conducted in the
name of the nephew on account of the finao
cial embarrassments of the uncle. arisino ont
of the losses at Newbufyport.
Fearing that his position here might make
MN responsible for debts which he had not in
CURED, he at length withdrew from the firm,
ana made an arrangement with Mr.. Elisha
Riggs TO engage with him in the dry goods
trade. Mr.. Riggs furnished the capital, and
Mr. Peabody, though at that time only 10 years
of age, took entire charge of the business. The
following yea .-1S15-the house was removed
to Baltimore, where it was conducted with
such success that in 1922 branches were estab-
lished in New York and Philadelphia. In 1920
Mr.. Riggs retired from the firm, and Mr.. Pea.
body became the senior partner. He made
several trips to Europe on business, and on
more than one occasion was entrusted by the
State of Maryland with important financial
negotiations, which were concluded with mark
ed success in every instance. In fact his skill
n conducting these negotiations and the con-
fdence inspired by his personal integrity. went
far towards re-establishing the wavering credit
OF his adopted State. He refused all compep-
satlon for these services, but the General As
sembly expressed in public resolutions the OBJ
legations OF the State to him "for his generous
devotion to the interests and honor of Mary
land, and the Governor wrote him a letter
containing earnest assurances of the gratitude
of the people. ..
In 1887, Mr.. Peabody took up his residence
in London, where he continued to conduct the
business of Peabody, Riggs & Co.. as the Eu-
ropean representative OF the firm In 1843
however, he dissolved his connection with that
house, and established himself as merchant
and banker in London and his banking house
bscame the centre of the American interest in
thu metropolis; as he himself has said: Gan
American house-a centre for American news
and an agreeable place Tor his American
friends visiting London" His interest in
American affairs was ever alive, and at a time
when the credit of the country was suffering
severely from tine failure of some of the States
10 meet their obligations and general deranee-
ment of the national finances he embarked
his capital literally in American securities and
did much to restore confidence in the GOOD
faith of our Government.
AT the time of the great International Exhi
bition in 1851, Mr.. Peabody came forward and
furnished the necessary funds to enable his
countrymen 10 appear with dignity and credit
among nations represented at the Crystal Pal
ace.
La the following year, he enabled Doctor
Kane TO carry out his design of making an ex-
petition into the Arctic Seas in search of Sir
John Franklin.
On the 10th day of June, 1852, the town of
Danvers celebrated her two hundredth birth
day, and invited home her absent sons to iop
IN the festivities. Mr.. Peabody could not be
present but sent substantial token of his re-
gard in the form of a gift Of $40, 900, to estab-
lish an institute and library for the people of
his native town. Liberal additions were after
ward made to this fund, and tho Peabody In
stitute has now an endowment of 100000
In 1857, after an absence of twenty ve.rs
Mr Peabody revisited his native land. and was
everywhere greeted with demonstrations of 70.
spect. All invitations to public receptions
were, however, declined, except that of his ma
i've town OF Danvers, where he was received
win unoounded enthusiasm by the people and
welcomed home by Edward Everett, Before
MS return to England he founded an institute
IN the city where he had achieved his early
success IN business, and gave $500 600 for the
purpose, which he placed IN the hands of fms
Sses IN the city of Baltimore This sum has
nee been increased to $1,000 900. and an in.
stitute founded which is to furnish free l;bro.
~, courses OF lectures, an academy of music
gallery OF art and accommodations for tbe
Maryian1 Historical Society.
Having thus endowed his native town and
the city in which he had spent twenty years of
MS early business life, Mr.. Peabody betbopobt
him how he could best discharge a sim;,a, an+r
toward Tue great capital which he had adopted
i0r tue nome OF his manhood. From a COM
paranvely early period of my commercial life"
ne said In 1862, II had resolved in NV own
mind That, should my abors be blessed with
success, l would devote portion of the nron.
erty thus acquired to promote the intellectual
moral and physical welfare and comfort of NV
1eilow men, wherever, from circumstances or
location, their claims upon me would be strong
est; and he now made liberal contribution
to the welfare of his fellow men in the city of
London, where he had acquired large portion
OF MS wealth. Hon. Charles Francis Adams
Lord Stanley, Sir j. Emerson Tennent Mr..
curtis M. LamsOn, and Mr.. Junius MORGAN
were named as trustees. in whose hands be
placed the sum of el5O, 900, to be used. as he
said' 10 amelorate the condition of the poor |
and needy of this great metropolis The man
ner In which this noble charity has been car
ried into execution is already familiar to the
public.
In 1856 Mr.. Peabody contemplated another
visit to his native land, and before leaving
England added another e1OO, 900 to his munifi- |
cent glft to the poor of London. He received /
the most gratifying acknowledgements of his |
generosity from numerous public bodies. Int /
steadily refused any public demonstration of |
regard from the people or the authorities of |
'ne Guy OF London. 1t was even proposed to
confer upon him Baronetcy, Grand Gross or
order OF the Bath, but he at once made known /
ms unwillingness to receive any such compli. |
ment and when pressed to montion what token
OF gratitude he would accept, said GA letter
from the Queen of England, which 1 NAV
carry across the Atlantic and deposit as me-
mortal of one Of her most faithful sons" Be-
fore his departure Queen Victoria sent him an
autograph letter, expressing her appreciation
of his more than princely munificcnce," and
desiring him to accept miniature portrait OF |
herself as further assurance of her personal i
feelings" This portrait was painted on ivory
and framed in gold and gems, and bears the |
inscription, furnished by the Queen herself
PRESENTED by the Queen to George Peabody,
Esq, the benefactor of the poor of London"
has been deposited with the Queens letter
IN tue Peabody Institute at Danvers.
No'withstanding his more than priucelv
munihcence'' to the poor of London. his great
est oeneiactlons were still reserved for his own
country, and during his visit in 1865 he scat-
tered his gifts with lavish hand. He n,vo
$4,000 to the Phillips Academy. at Andove-.
600 to the Newburyport Library. s1oo ooo
to build church as monument to the mem.
DRY of bis mother. in Georgetown Mass. s1e
600 to library in the same town; $14O, 900 to
the Essex Institute at Salem; $4,000 to the IL
brary at Thetford, Vermont, where he spent
the year with his grandfather when a boy;
$20 600 to the Massachusetts, Historical Society;