The daily gazette., 1878-02-05
An Example Of the Value of
state and Individual In


An Example Of the Value OF
State and individual In
tegrity.
Inc handsome dinncr That was given TO
Mr.. J. y. Morgan at DelnonIco's. in
New York, In November last, has been
|perpetuated In pamphlet which both
In its preface and In the speeches made
at the dinner, 10 a tribute to the high
qualities OF Mr.. Morgan, both as man
and banker. As "the best business
man In Boston" Mr.. Morgan was invited
In 1854 to enter the banking house of
Mr.. Peabody, In London. de has re.
mained there ever since:frst as the part
ner OF MIR. Peabody, and subsequently,
conducting the business In the name Of
J. 8. Morgan & 10. Fhe dinner In his
honor at Delmonico's drew out dis
hnguished company Of governors, capt.
talists, bankers. railroad presidenis aud
professional men. or course the speecl es
made at the dinner took their color from
the occasion, and perhaps, the most in.
teresting to us In this meridian was that
passage In the speech of Mr.. Jehn W.
Garrett In which he linked together the
names effMr. Peabody and M. Morgan,
He said: f
Massachusetts gave to Baltimore in
1910, young man Of twenty years, who,
svailing himself of surrounding advan-
tages, with energy, industry and up
i1ntness, founded q small business, which
rapidly grew TO extensive proportions.
That youth was George Peabody. For
twelve years he labored asslduously and
successfully until he became most res
pected merchant In Baltimore. He made
his first voyage TO England In 1926, and
ten years afterwards he established that
which became the great American house
in London-George Peabody Il Co.,
whose we'll earned fam Q is appreciated
throughout the world, His great deeds
In Maryland are as familiar there as
household words. When that State fall
tered in paying its highest debts, Mr..
Peabody advised the speedy return to The
paths OF rectitude and consequent sue
cess. He well taught that, with States,
as with Individuals, 'Honesty is the best
policy and Mary land was led, largely
by his earnest efforts, into position II ON
which her great prosperity has grow n
and now Maryland presents her history
as q lesson, not only Of honor, but ol
enlightened. selfishness,t to her sister States
who hesitate in honesty paying their
debts. to do all that Is necessary, by
taxation and earnest work, TO accure
justice TO creditors. e#
The people of Maryland, under the In
fiuonce then brought TO bear submitted
TO varied and heavy taxation, including
a stamp tax, to enable them to meet theil
obligations; and now no thoughtful citi
Il full .ts.fl Inn h.
eminent service rendered by Mr.. Pea
body in urging sound principles and JUS
action upon her people, and the faithful
fulhllment of every obligation. The
sacrifices and efforts of those days have
been rewarded by financial and com
mercial prosperity which could not other
Wise have been achieved and by respect
and confidence At home and abroad. "a,
"Again, In 1856. with afft ctionate soil
situde- fer the social progress Of those
among whom he had spent SO large 9
portion of his early life, he established In
Baltimore the Peabody Institute, for the
promotion OF science, literature, and the
fina arts, and literally contributed to It
in successive sums, an aggregate Of more
than a million of dollars. n-...s
"In conducting the vast affairs Of hif
house Mr. Peabody found 1t desirable tc
select coadjutor, and In all bis history
he gave no more signal evidence of his
sagacity and knowledge of men. tbar
| when he selected our honored guest
from his home among Boston msrchants
as his associate, and ultimately az hi
successor. 1t is a great test Of ability anc
and the highest mercantile qualifications
for any of our fellow-citzens TO bt
thrown into the money centre OF thu
world, to compete with the great intel
lects and the vast capital concentrated
there. AS American citizens we ma,
well be gratiied that our country ha,
furnished two such men, In one house, Al
George Peabody and Junius 8. Morgan
For forty years they have illustrated OF
this grand field the highest characters.
tics Of ability, enterprise and integrity
Each, at many and important periods
has sustained great American inteI est
that were worthy of being supported
and with courage and Judgment has ae
com plished results which have increase et
our national prosperity and renown."