In reference to the intention which it is the object of this letter
to communicate, I am desirous to explain that, from a comparatively
early period of my commercial life, I had resolved in my own mind that,
should my labours be blessed with success, I would devote a portion
of the property thus acquired to promote the intellectual, moral,
and physical welfare and comfort of my fellow-men, wherever, from
circumstances or location, their claims upon me would be the strongest.
... It is now twenty-five years since I commenced my residence and
business in London as a stranger, but I did not long feel myself a
“stranger” or in a “strange land,” for in all my commercial and social
intercourse with my British friends during that long period, I have
constantly received courtesy, kindness, and confidence.... My object
being to ameliorate the condition of the poor and needy of this great
metropolis, and to promote their comfort and happiness, I take pleasure
in apprising you that I have determined to transfer to you the sum of
£150,000 which now stands available for this purpose on the books of
Messrs. George Peabody and Co.
... I have few instructions to give or conditions to impose, but there
are some fundamental principles from which it is my solemn injunction
that those entrusted with its application shall never, under any
circumstances, depart.
First and foremost among them is the limitation of its uses absolutely
and exclusively to such purposes as may be calculated directly to
ameliorate the condition and augment the comforts of the poor, who,
either by birth or established residence, form a recognised portion of
the population of London.
Secondly, it is my intention that now and for all time there shall be
a rigid exclusion from the management of this fund of any influences
calculated to impart to it a character either sectarian as regards
religion, or exclusive in relation to local or party politics.
Thirdly, in conformity with the foregoing conditions it is my wish
and intention that the sole qualifications for a participation in the
benefits of this fund shall be an ascertained and continued condition
of life such as brings the individual within the description (in
the ordinary sense of the word) of “the poor” of London, combined
with moral character and good conduct as a member of society. It
must therefore be held to be a violation of my intentions if any
duly-qualified and deserving claimant were to be excluded either on the
ground of religious belief or of political bias.