The Van Buren press., 1869-07-20
Mr. Peabody's Second Gift to the South

III mas DccU aHllOuhScu ", NN'NS'"l''''
saws the New York Buffalo Courier of
the 7th inst that Mr., George Peabody
has added to his munifcent gift, for the
promotion Of education in the Southern
States, the further sum in various secur-
tiles and cash of 81 ,3S4,00 He had al :.
ready presented the sum of one million
dollars and Sl,100,000 in Mississippi
bonds, 80 that the total fund he has thus
created amounts to nearly thrce-and-a-
half millions. The interest on the first
and present gift makes the annual reve-
nue. Of the trust over one hundred and
thirty thousand dollars, an amount con-
eidered amply sufficient to meet all the
requirements of the trust without infrlng-
ting upon the capital A. a special meet
ing Of the trustees of the first created
fund, held at Newport on the 1st inst, a
letter was received from Mr. Peabody an
nouncing the second installment Of his
noble gift. lis wrote as follows:
GENTLEMEN :. When l established the
trust Of which you have charge, it was
nv intention if its results and progress
should prove satisfactory, to return in
three years to my native land, and to
make further provision for carrying out
the plans which experience should have
shown to be productive Of encourage
mcnt and benefit to the people OF the
South.
NV precarious state Of health has rem
dered it imprudent for me to wait for the
full period of my intended absence, and
/ have now come among you, in order to
proceed at once to the fulfllment Of my
purpose.
/ have constantly watched, with great
interest and careful attention, the pro
cecdings of your board, and it is most
gratifying to me now to be able to eX-
press my warmcst thanks for the interest
and zeal you have manifested in matur-
ing and carrying out the designs of my
letter Of trust, and to assure you Of my
cordial concurrence in all the steps you
have taken.
At the same time, must not omit to
congratulate you, and all who have at
heart the best interests of this education
al enterprise, upon your obtaining the
highly valuable services Of DR.. Sears as
your general agent--scrviccs valuable not
merely in the organization Of schools
and Of system of public education, but
in the good effect which his conciliatory
and sympathizing course has had where
ever he has met or become associated
with the communities Of the South, in So
cial or business relations.
And beg TO take this opportunity of
thanking, with all my heart, the people
of the South themselves, for the cordial
spirit with which they have received the
trust, and for the energetic efforts which
they have made, in cooperation with
yourselves and DR.. Sears, for carrying
out the plans which have been proposed
and matured for the diffusion Of the bless
ings Of education in their respective
Sc. -. .vvl ltrcu Dy
your general agent, and sanctioned by
you, fonr Of the Southern States have
not been assisted from the fund placed
in your charge, and concur with you in
the policy thus pursued, as, am sure,
will the citizens Of those four States, and
all who have at heart the highest pcrma-
nent good Of our beloved country.
For it was most necessary that at the
outset those States and portions ofStates
which had suffered most from the ravages
Of war, and were most destitute Of educa-
tional means and privileges, should be
first and specially aided.
Ibeleve the good sense and kind feel
ing of the people Of these States will con-
tinue to acquiesce, for the present in
pour course Of devoting, under the care
Of DR.. Sears, the greater part of the fund
to the same States which have received
its benefits for the past two years, with,
perhaps, the addition Of Texas, which
State am advised the general agent will
visit during the coming autumn or win
ter, to ascertain its educational require
ments, and to give such aid as shall be
requisite and can be afforded, where ii
shall be most needed.
have the same sympathy with every
one OF the States and were all alike need
ing assistance, should wish each alike
to share in the benefits Of the trust
As the portions aided shall respective
= grow in prosperity, and become self.
sustaining in their systems of education,
their respective allotmcnts Of the fund
will be applied to other destitute com.
munities, and thus its benefits will, earn.
estly hope and trust, ultimately reach
every section Of the vast field committed
to your care
1t is my hope and belief, and this opin-
ion is fully confirmed by my interviews
with DR.. Sears, that with the additional
amount which now place in your hands,
the annual income of the fund alone may
be found sufficient to sustain and extend
the work you have SO we'll begun and it
is my desire that when the trust is closed,
and the final distribution made by your
selves or your successors, all the four
teen Southern States, including Maryland,
Kentucky, Missouri and Texas shall share
in that distribution according to their
needs.
After describing, in detail, the various
securities constituting the donation, Mr.,
Peabody concludes as follows:
All the stocks ] have given as above
ore to be held in trust by yourselves and
your successors, for the same purposes
and under the same conditions rs the
funds given you by my original letter