The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-03
The Peabody Southern Educa-
tional Fund.
Another Git Of Ore Million OF BGI.ars
from George Peabody.
The H'russt Now Amounts
to $s2.OOO,OOO.

body
To Hon. Robert C. winthrop Hon. Hamilton Fish,
Fight Rev. Charles r.. McIIvaine ms EXceuency
D. >. Grant President OF the United states; Aqtui-
raj ID. q. FaYragut Hon. JOun IL. Clifford, Hon.
Whham Aiken Hon. william A. Graham, Hon.
w. NJ. Eyarfs Charles Macaster, Esq; George w.
Riggs ESQ. Samuel Wetm0re, ESQ.,. Hon +. A.
Bradford. George n. Eaton Esq; George Peabody
of the Peabody Education Fnnd:-
GEErLEMEN-When l established the trust OF
which sou have charge 1t was my intention, II It's
results and progress should prove satisfactory, 10
return three Years to my native land and TO make
further provision for carrying out the plans when
experience should have shown 10 be productive Oh
eneouI agelnent ana benefit to the people Oh the
Souta.
prudelt for me 20 wait FOR Lie iun period OF my In
ten1ed absence, ana have now come among you
III order TO proceed at once TO the fuihiMent OF my
purpose
careful attention, the proceedings OF your board,
and 1t s most gratifying 10 me now 10 he aole TO eN-
press my Warmesl tuanAs for the interest," ana yea!
you have manifested III maturing and carrying out
the designs OF my letter 0i trust and "a assure you
OF my CORDIAL concurrence IN All the steps you nave
taken.
Al The same time must not omir to congratulate
you, aud all VINO nave al heart the lSat interests ol
TINS educational ENTERPRISE upon your obtaining INC
higny Va nab services 81 Or. sears US your general
ageBl-serVlCes valuable not merely IN The or
RanZatlOn OF schools and Of a system OF public
education, but IA the good eject whlcA his con-
cllldtOTy ana sympathlIug course has mad Wher
ever ne has met or become associated vita the COM
mnnnies Of the -ogt, IN social or business relations.
And beg TO take TITS opportunity Of thanking
with al my heart tue people 81 the south them
se.yes lor The cordial spirit Win which tuey have
received the trust ana Tor the energetic Efforts
which chez nave male, in Cooperation VITA your
serves and Or sears, Tor carrying out the plans
which have been proposed and nttured Tor the dll-
iuSion ol tue blessings u eoucaiOn III Their respec'
tive States.
Hitherto under the system adopted by your gen
eral agent ami sanctioned by you, iodr OF The south
states have not been assisted iron the fund
placed IL your charge, and concur with you IN
a sill M Ii
Zeis Of those four states and al who have III heart
tlte highest permanent eoOd Of our beloved country
For 1t was most necessary that Al the outset those
STATES and portions Oh states wIIcn had Suffered most
from The raYages oil war ana were most destitute Of
Educational means ana privileges should be 1rst snd
specially aided.
/ believe the good sense and kind feeling o; the
peope OF these States viii continue 50 acluesce for
the present, in your course oi Gevoting uAder tue
care OF r sears the greater part OF the fund 20 tie
same States which have received its benefits the
past Two years with perhaps the addition of Texas
which stute l am advised the general agent viii
VISIT during the coming autumn or winter ascer-
tain It's educaionai requirements and 10 give sucn
hd as suall he requisite and can be Afforded where
n shall he most needed
nave the same ; mpathy with every one OF the
States, and were Az alike needing assistance /
should wish eaeh alike 10 snare III the benefits OF the
trust. As the portions AIDED scal respectively grow
In prosperity and become sell-sustaning IN their
systems OF education, their respective alo[uents OF
the iund VIA be applied to other destitute cOmmuni-
Ties and thus its benefits Will, earnestly hope and
trust, ultimately reach ever section OF tne vast field
committed 10 your care,
II is my hope and belief and this opinion is fully
confirmed by my Interviews with Dr. Sears, that with
the aadtlonal amount which now place In your
hands me annual income vi the fund alone may DC
Hound sulcieAt 70 ustatn and extend the work sou
nave SO wei begun: and y - my desire That when
the trust Is closed and The final distributions mace
by yourselves or your successors, all the fourteen
Southern states, including Maryland, Kentucky,
Missouri ana Texas, shall In thar distribution
according to their needs.
In accordance with what | have already said 81 nv
Intention az the time established TINS trust TO add
EIgtIl am M p.e1o
sufed has attended II. now give 70 you and your
successors ne following sec Irities, VIZ
$4,000 beNidere ana Delaware Railroad Com.
PaiV slN pei cent Donus, nrst mortgage dividends
10TH June ana 18TH december. due ls7f: principal
and interest guaranteed by the Camden anu Amb0y
Railroad Company and New jersey transportation
COMPANY
soO1,o-5 Syracuse ana Blnghamton Railroad Com
pany seven per cent bonus 1875, 800 due III 1873,
dividend October ana prii L. 81, SIS payable Octo-
Der 1, 1870: s9s,00l dividends from June ] due in
1852. THIS Is an excellent road and the styck al
par; but the security a. rendered perfect by tie
guarantee OF Doth Principal and interest by the
Lackawanna Coal Company Of PenRsy yanla.
So 200 Alabama State i've per bonds ts16, 200
due 1850 $4,000 due 1872, $4,000 due IN 1855. DIvl-
dends rom November l}
s5J3'J loDhe cary 6ye per cent bonds; dividends
fr0m July J. Principal 10 oe gradually PAID OF.
$4,000 city OF Louisville ak per cent bonds; divi-
deDd' April and October; due 1883.
100000 Louisville Consolidated Bank dves: fully
guaranteed by state ol Louisiana, and payable in
1870, 1879, 1874 and 1916.
sss.o09 Ohio and Mississippi Railroad first mort
eage seven pc cent bonds, dividends July ana
January !; al payable July /, 1872
$4,000 Columous, Chicago and Indiana Central
Railroad first mortgage bonds, seven per cent; div
teen y r"a R as s compaa
$4,000 PItsburg Clty four per cent bonds: dlVl-
deBds January and July: due IA 1913.
$1,000 PlttsDurg city five per cent bonds dividends
January Guu duly; Que In 1915.
Sl9O40 Louisiana STATE siAes; dividends January
aHJ Ju.y
$1,000 New Orleans city SKIES dividends January
and July.
es75 cash.
Amounting in al 10 tO0o,0oO. These stocks are
oil % the very highest character Tor security and the
1he prlnci. al sun OF sl.U0O.OOO gwen by my 6rsi
lettero trust, Is sin intact, the interest which be.
ING added 10 uat Of my present gilt makes the annual
revenue of the rast upwards OF Si30,039--a SUN
winch. IN the OpullOn VI your honorable chairman
ana your general agent Is amply sufficient 50 meet
ali tie requirements oi me unst, without infringing
upon the capital, uutIi The lime arrives for te GDa
Dis rlbu,iUn, o. before stated.
Ia addition 10 The foregoing give 90 you Florida
sN per cent bonds, which with overdue coupons
amount 90 about so54, 100.
ihe.e boBds, iko thc Mississippi bonds 10 my FIRST
gu, must beiOre many years be paid.
Tue Territory u Florida Obtained the money on
these DgGds m Europe at aboul par aud loaned II 20
Tic Union bauh 3s cdpiah.
me territory received FOR same tine "a hirh rate
Oi interest. bat ai-ef ue lanE suspended paid fhg
toudgUiders nothing bat referred them o. tie Union
Bauk "a ing, Obtain what you eau from the Union
IaNk, aud IT, VIII then he time enough 10 come 10
us Large aWount- Of these bouds were purchased
b. planters aJ about ATTY per ceut aud useI 10 paw
notong oore leit 10 be paid; ana me small amount
Vi thr9c bonds now outstanding mot exceeding I
believe, tWe millions 81 the original b0uus must |
tank. 0eipre lQup induce FLORIDA as ~ act Of ius.
see iong delayed, to make provision Tor their pay
mems,
~. the stocks have given ~ above arc 70 re held
fn trust by yoJr-eNe, and your successors FOR the
same purposes aud under The same como itions "a the
1nBds gNca yGa br my origina letter creating your
trust.
do th- WIN he earnest hope and In the SIN
Cere trust that wa GODS blessing upon the gin
and upon the deliberations ana future actiOn OF
yourselves ana your general agent u mag enlarge the
sphere ~ usefulness already entered upon ana prove
permanent aud lasting boon not Only 10 the south
EN- states, bit 10 the whole OF our dIar country
which have ever loved 50 wen. but never so much
NOW, IN NY declining years, and Al this time pTo
Dab.Y the last occasion sna0 ever have 10 address
you, as look tack over the changes and the pro.
gress OF nearly thrce.quarters Of century; and !
pray that Almighty GOd VIII grant IN IS future a.
happy aud i0O.e Ia The Intelligence and virtue. Of
IT, CitizcDs IS % win be gorious in uDeXampled
power aDd prosperity.
am, With great respect ronr humble servant.
StLEN, June ~, 1859. GEORGE PEABODY.
Inc above letter, Daving been read ana consid-
srcl Nas referred to special committee consisting