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partnership with an uncle, the firm-style being Riggs & Peabody. They were
wonderfully successful, and soon established branches in Philadelphia and
New York. In 1829 Mr. Riggs retired from actual work, the firm-style
becoming Peabody, Riggs & Co. Time passed on, the business grew, and in
1837 he went to London, soon after establishing the banking house of
George Peabody & Co. He made banking his study and kept thoroughly
posted on financial matters. At about this time the great panic occurred in
America, and at a great risk of losing his fortune he bought Maryland
securities. But George Peabody knew what he was about; he was
thoroughly posted and was capable of managing a banking business. By his

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influence with the Bank of England, he soon became recognized as the man
who had saved Maryland from bankruptcy.
He now began to dispense the great fortune with which God had so
bountifully blessed him. In 1851 he supplied a large sum, so much needed,
to make a success of the great Worlds Fair in London. In 1851 he gave
$10,000 toward the second Grennell expedition, and the same year the
people of his native town, Danvers, invited his presence at an anniversary.
He could not personally attend, but sent them $20,000 to be applied toward
education. In 1857 he gave the city of Baltimore $300,000 to found a
college, and afterward added to this magnificent sum $200,000 more. In
1866 he added still $500,000 more, and later yet $400,000 more, making
$1,400,000 in all he gave to this one institution, which is called Peabody
Institute. He gave nearly $3,500,000 toward the fund to educate the poor of
the South. He gave Yale and Harvard college each $150,000; to Phillips
Academy $25,000; to Peabody Academy $140,000; to the Memorial
Church in Georgetown $100,000; to Peabody Academy $250,000; and
numerous other contributions in America.
In London he established a fund of $3,000,000 with which to build homes
for the poor of that great city. The Queen acknowledged this in a private
letter, and presented him with her portrait painted on ivory and set in jewels,
valued at $255,000. She also offered to make him a Baron, but this he
respectfully declined.
He resembled the late A. T. Stewart in some respects. No gold chain ever
hung from his watch, and when he wore studs or other ornaments they were
never more costly than pearl. He detested show. Altogether during his life
he gave away over 
eight millions of dollars
, and at his death left a fortune
of over four millions. Had he saved his money and manipulated it like many
of our great millionaires have done, we doubt not he would have died worth
perhaps twenty or thirty millions.
He, however, had gained not only worldly success, but true success, for
when he died in 1869, both of the great English speaking nations united to
do him honor. He was at first laid in Westminister Abbey among the dead
kings and queens. After this her Majesty's ship Monarch bore his remains to

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America to be buried in Danvers. The respect in which he is held by the
people of that town is shown when we know that they have since changed
the name of their town to Peabody. He left an imperishable crown
containing pearls which cannot be stolen. They are set in homes for the
poor, libraries for every one, schools for the young, and other securities
which are safely stored in the hearts of a grateful people. Ah! we are
thoughtful after reading the life of such a man.

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