The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-11-05
lettering of his condition and advancement, Of bis


THE WAR OF 1872.
Meanwhile the long threatened war between Great
midsummer OF 1879 British meet assembled the
Potomac and menaced the capital. Patriotic men
tsok up arms IN defence OF the republic and among
them was George Peabody, then still LAD and
Of PATRIOTISM which which had sctuaisd bis ances.
company or artillery formed at Georgetown,
under the command Of Colonel George Fs.er Alsw
DAYS later no was doing soldiers duty With his conf
pany at Fort Warburt0n. The expected attack was
not made by the British, so that no opportunity
was Afforded for his participation In battle. and on
commercial avocations. Previous to TINS he had
served for brief while at Newburyport, and it was
acres OF land voted by Congress to those who volan.
sse ,b In defence OF the republic during the war
MS PARTNERSHIP WITH Mr.. RIGGS.
While Mr. Peabody was engaged in business at
Georgetown his eteadiness and capacity gained him
the ability he displayed was the late Elisha Riggs.
afterwards OF this city, who died In 1853 deeply
GREETED. This gentleman proposed 10 enter into
business, he 70 furnish the capital. II was
not long before the firm was engaged
70 70 BRHS SaaIs s seven s'g sea was a Mg'sa
had become extensive that branch establishments
we're opened In New York and Philadelphia. In 1929
Mr. Riggs retired from The firm aud Mr.. Peabody
became the head OF 1t. The relations that existed
between the two gentlemen were always OF u
friendly and confidential character. Each was in-
debted TO the other for numerous faSors not least OF
which was the business connection which enabled
the one 70 increase his fortune by means OF the
others business sagacy and tact aud laid the foun-
dalton OF that vast wealth which Mr.. Pabody turned
TO so benevolent an account.
MR.. PEABODY As A LONDON BANKER.
Some months after the retirement OF Mr.. idggs Mr..
Peabody paid his first visit 10 England for tue pur-
pose Of g9na During the o sSe
purpose. and IN 1887 became permanent resident OF
London. In 1si3 he retired from tho business he
had pursued so many years and established
a commission agency and banking house
in the English metropolis At this time
He had also PERFORMED noteworthy service for me
public. During the commercial aud financial Crisis
OF 1887 he was appointed by the Mary Wand Leglsla-
ture one Of three commissioners to negotiate loan.
This duty was none OF The lightest In England all
American securities were looked upon with suspi-
ciOn because OF the neglec OF some OF the states to
pay the interest on tueir debt held abroad and
because OF the numerous failures which were weekly
reported. Mr.. Peabody's influence however, was
sufflcIent TO obtain the loan, and In apprecia-
ton OF his service on THIS occasion the State
afterward oiciay recorded her obligation 'for his
generous devotion TO ths interests aud honor OF
Maryland During these trying days he struggled
manfuly TO sustain the credit OF his native country,
and 1t is not awarding him too much praise to say
that the restoration of confidence the ability and
purpose of the United States 10 poy their debts
due more to his efforts than TO those OF any other
man.
was extensive. On both continents he was widely
known for his sterling integrity and reliability, so
that men were ever ready to place their business in
his hands feeling confident that IL would be faith
fully transacted ana taat taer Interests Would DC
sessed al the uue OF his permanent residence Ia
London large sum- yarousy estimated at from
HIS DEEDS OF LiDEnALfrY.
Throughout his life George Peabody was noted for
his charitable disposition 10 the l extent OF ~,
Americans In straitened circumstances had only 10
apply to him to receive practical Illustration
public liberality, which gained llim considerable
popularity In the United States, vas performed
In the simmer OF 1851, during the great exhibl-
ton at tue Crystal Palace. BY reason or Congress
refusing appropriate sum or money Tor the pur-
pose, the American department. baae laW 10 maze a
sorry show the midst OF the productions OF all the
nations OF the earth. III this emergency Mr.. Pea
body was applied to- and the response was prompt
and prlncely. The entire expense Of arranging and
garnisbing The American department was betrayed
by him, and thus, u biographical writer Justly OBJ
serves .a private indlyidua did that for his coun-
frymen which their own Congress had sbamelully
refused to do, and which In every other case had
been done by the governments Of the nations there
me same iberalty was exhibited year later,
when Mr.. Henry Grlnno offered bis vessel, The
Advance TO make "a second voyage 10 the Arctic
seas under DR. Kane in search OF Sir oun Franklin.
Congress had been applied 10 for the means Of outdt
and had neglected making an appropriations. The
proposed expedition would have been abandoned
mad not MIR Peabody generously handed over TO MIR.
Grnnell the sum OF ooco which PAID the expenses
DEVOTION TO THE PROGRESS OF EDUCATION.
The one hundredte annisorsars o. tho corporate
June, 1852 and that day was celebrated in manner
nanfiinr the occasion. Amoug the invitations "a
attend the festivities was to George Peabody.
who replied, expressing regrer he conid not 81
present TO join In the celebration OF this the cenrennal
OF his native town. lie, however sent tile commit
tee q sentiment enclosed In envelope (which
was not TO Dc opened until his name should be called
In due course at the dinner table.r After
made MIR. Peab0dy's name was called the envelope
opened and This sentiment read:-"Educaron-A
debt due from the present TO future generations
In continuation he wrote, 'In Acknowledgement OF
the payment OF that deDt by the generation which
aid In its prompt future discharge, 1 give TO the
Inhabitants OF that town the sum OF $50 goo for the
promotion OF knowledge and morality among them"
10 this sum he afterwards added largely, the doDa
lions altogether exceeding 100000
Five years after this event Mr.. Peabody paid .
visit 10 the United States and one OF his first acts
to contribute the sum or $500 900 for the found
Ing OF an educational Institution IN his adopted city
OF baltimore. To this he afterwards added 5000 COO
and IN 1865 the donation wac increased by
100000. snd on the 22n OF sepiemer last
he gave 100000 more, making total con-
stone Of the building was laid, but, the rebel
lion soon after breaking out discretion and
ss In ns ah s as s S eoss
tuition Mr.. Peabody expressed the hope that 1t would
be $50 conducted throughout its whole career 10
benecence, and prove itself 30 be- IN all contingent
cies and conditions the true friend OF an inestimabe
Union OF the sautary institutions OF free government
and OF liberty regulated by Jaw. "
While in the United States MI. Peabody was the
recipient Of marked attention fTom oil classes OF
people wherever he went. Numerous pubic recep-
lions were rendered him. nil OF which were dccliued,
save one IN Danvers, which was one OF the most
enthusiastic that was ever bestowed upon phlan'
thropiss
MS GIFT TO THE LONDON po0R.
In 1858 Nil. Peabody returned TO England and sst
about putting into practical effect a scheme OF
benevolence which had occupied his mud for seve-
raj years previous. This was under sense OF
rratitude'; for his success in England, TO make
donation for the benent OF the poor OF London" To
this end he consulted his friends g. NJ. sampson, Sir
james Emerson Tennent his partner, J. ;. Morgan,
and the Right Rev, Bishop McIlVaine of OHIO. In
letter dated London, March r. 1892 and addressed
to Charles Francis Adams. the United states
Minister 10 England, Lord Stanley, 81 p. now
Earl OF Derby, and Others whom ne appointed
trustees, he wrote, after explaining the motives
which actuateu him:--"My object being TO anchor
ate the eondton Oh the poor aud Needy of this great
metropolis aud 70 promote their comfort and nappi-
ness, take pleasure IN gpprsinq you that l have
determined to transfer 10 you the sum or El5D0 900,
which now stands available for this purpose on the
books OF Messrs. George Peabody Co., az yon will
see by the accompanying correspondence