The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-07-06
THE PEABODY FUND.
ONE MILLION MORE FOR SOUTHERN EDUcA.
TIoN.
How the Deed was Done.

At q special meeting Of the trustees of the
Peabody Education Fund, held at Newport
Mass, on Thursday, q letter was read from
Mr.. Peabody, informing the board that he had
given one million dollars more for Southern
| education. The following extracts show what
Mr.. Peabody thinks OF what has been done, as
well as what he hopes may be accomplished in
the future .f- -. ......... a..
When established the trust Of which You
have charge. 1t was my intention, il its results
and progress should prove satisfactory, TO re-
turn 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 nf encourag ament and Seneft to
the people of the South. az.
My precarious state OF health has rendered
it lmprudent for me to wait for the full period
| OF my inh pded sbsence. and have now come
among you in order to proceed at once TO the
fulHlmeDt OF my purpose. have constantly
watched With great interest and careful atten-
ton the proceedings Of y ur board, aud 1t is
most gratifying to me now to be able TO ex-
press my warmest thanks Tor the interest and
zaal you have manifested IN maturing 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.
And I beg to take this opportunity OF thank
ing, with all my heart, the people Of the South
themselves, for the cordial spirit with which
they bave,recsived the trust, and for the ener-
eetlc eAorts which they have made, IN co-ope-
ration with yourselves and DIR. Sears, for
carrying ont the plans which have been pro-
posed and marured for the diffusion of the
blessings Of edu cation in tleir respective
States.
Hitherto, under the system adopted by your.
general agent, and sanctioned by you, four OF
the Southern States have not been assisted
from the fund placed in your charge and
CONCUR with yeu in the policy thus pursued, as
am sure wifi the citizens Of those four States,
and all who have at heart the highest perma-
pent good of our beloved iuntry. For 1t was
most necessary that at the outset. thos, States
and portion, Of States which had suffered most
from the ravages OF war, and were most desti-
tute Of sducati nal means and privileges,
should be drst and specially aided: believe
the GOOD sense and kind feeling OF the people
OF these States will continue to acquiesce, for
the present, in your course Of devOting, under
the care of DIR. Sears, the greater part OF the
fund to the same states which have received
it's benefits for the past two years, with per-
haps the addition OF Texas, which State am
advised the general agent will visit during the
coming autumn or winter, to ascertain lts edu.
catiOnal requirements. and to give such aid
it Ii most needed.
have the same sympathy with every one OF
the States, and were all alike needing assist
ance should wish each alike to share in the
beuef.s Of The trust.
HB the portions aided shall respectively grow
in prosperity and become selt-sustaining IN
their systems Of education, their respective
aIlotments OF the fund will be applied TO other
destitute communities. and thus its benefits
will, earnestly hope and trust, ultimately
reach every section OF the vast field committed
to your care.
II Is my hope and belief. and this opinion 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 sus-
tain and extend thework you have so we'll b.
gun; and it IS my desire that when the trust ID
closed and the nDal distribution made by your
selves or your successors. all the fourteen
Southern States, including Maryland, Ken.
tucky Mlssouriapd Texas, shall share In tnat
distribution according to their needs.
In accordance with what have already said
Of NV intention. at the time established this
trust, 10 add thereto, il its success were such
as am now well assured has attended u,
now give to you and your successors securities,
amounting in all ~ one million OF dollars.
These sticks are all Of the very highest char
acter for security, and the DIVIDENDS are .er-
tam to be pro nptly paid.
The principal sum of one million dollars,
given by my first letter Of trust. is still intact;
the interest on which being added to that OF
my present gift, makes the annual revenue OF
the trust upwards of ons hundred and thirty
thousand dollars; sum which, in the opinion
of your honorable chairman and your general
agent, Is amply sufficient to meet all the re-
quiIements OF the trust, without infringing
upon the capital, until the time strives for the
final distribution, as before stated.
In addltlon to the foregoing. I give to you
Florida Blk per cent. bonds, which, with over
due coupons, amount to about 1884 600.
these bonds, like the Mississippi bonds in
my hrst gift, must, before many years, be
paid.
:. All the stocks have given as above are to
be held in trust by yourselves and your sue
cessors, for the same purposes and under the
same conditions as the funds given you BY my
original letter eating your trust.
I do this with the earnest hope and in the
sincere trust, that with Gods blessing upon
the gift and upon the delberations and future
ac,io,: Of yourselves and your general agent 1t
NAV eolarcc tie sphere OF usefulness already
entered upon and prove permanent and last
a., broy, pnf onlv IN tho soI,N-'' <sa.eS. 6ut