Middletown transcript., 1869-11-06
DEATH OF oroncE rrABopY.

The Baltimore Sun of Friday says =
A cable dispatch this morning announces
the death of the eminent philanthropist,
George Peabody, an announcement which
will be received with the deepest regret
wherever his name aud benevolent deeds
have become known, and nowhere more SO
than in Baltimore. The dispatch is dated
London, November 4th, midnight, and
was received here about eleven o'clock last
evening, conveying simply the statement
that " George Peabody died at LII O'Clock
P. NJ" which hour, allowing for the diff
ference of time, was about the same as
eight o'clock in Baltimore.
Mr.. Peabody was born in Danvers, Mas
sachusetts, February 18, 1896. He was
the son of poor parents, and his early ed
ucation was acquired in the district schools.
He was placed as assistant to grocer in
his native town at the age of eleven, and
in his sixteenth year went to Newburyport
as clerk for his elder brother, who had
opened dry goods shop there. This es-
tablishment being burned down, he went
with an uncle to Georgetown, D. 9.
where, the following two years, the busi-
ness was conducted in his name, though u
minor. In 1914 he withdrew from the
business, and became partner of MIR.
Elisha Riggs, in the wholesale dry goods
trade. Mr.. Riggs furnished the necessary
capital and intrusted the management to
Mr.. Peabody. The next year the house
was removed to this city. Here it attract
ed large business, and in 1922 branch
houses were established in New York and
Philadelphia. Mr.. Peabody's first visit to
Europe was in 1885, going to buy goods
In 1929, Mr.. Riggs retiring, and Mr.. Pea
body became senior partner to the house.
On his visits to Europe the State of Mary
land repeatedly entrusted him with impor-
tant negotiations, which were invariably
conducted with success In 1887 he took
up his permanent residence in England,
and in 1843, having withdrawn from the
firm of Peabody, Riggs & Co. he estab-
lished himself in London as a merchant
and banker. His exertions are said to
have contributed greatly to maintaining
the confidence in American responsibility
which had we'll nigh failed in the disas-
trous period of 1887, and his repeated and
important favors in this respect to the
State of Maryland were gratefully acknow-
ledged, but he refused all compensation
for them. In 1867 he gave the sum Of
$500, 900, with pledge to increase it to
$500, 900, to found an institute in Balti-
more (now known as the Peabody Insti-
tute) for the promotion of science, litera-
ture and the fine arts. He subsequently
increased it to 81 900, 900, and more re-
comfy added the sum of $400, 900 in Vir.
ginia and Tennessee bonds. The list of bis
charities to benevolent and educational
purposes. reaches the aggregate to abou
SO, 600, 900.
Mr.. Peabody is said to have long age
avowed that benefcence was the end fol
which wealth should be sought In car
rying out this object he has wisely actec
upon the conviction that charitable gift
made during the life of the donors ar,
likely to be more serviceable than none
left by will The annals of history MAJ
! be searched in vain for man who has
made more benevolent use of great wealtl
and been more judicious and practical il
the distribution of it. Could it have beer
, possible for this man to have been happie
if he had used riches to pamper his bodil,
: appetites or perpetuate the ostentation 0
wealth, as seems too often the vain pur
pose of men, or could his executors, i
they had employed all his wealth in rearing
monument over his remains, have bull
structure which could be seen, or be en-
3 twined by the affections and admiration 0
| such myriads of the human race, as tn
e good and generous deeds which have bee
restricted by no boundaries of section, o
| sect, or nation, and which have associate
S so many throbs of happiness and graft
tude with the venerable and beloved nam
# of George Peabody.