A long time ago a little boy who was poorly dressed, but had an honest
face, was passing a country tavern in Vermont; night was fast
approaching, and he looked tired and hungry; seeing which, the landlord,
who had a kind heart, generously offered him supper and a nights'
lodging free. This he refused to accept, but said, "If you please, I
will cut wood enough to pay my way." This was accepted by the landlord,
and thus the affair passed. Fifty years later he passed the same tavern
as George Peabody, the great London banker.
The above self-reliant nature was illustrative of the man. It is always
interesting to learn how great fortunes were made. Nothing is so
fascinating as success, and the momentous question relative to every
great man is: "How did he begin?" George Peabody began life in Danvers,
Massachusetts, February 18th, 1795. He was born of humble parents and
the public schools of his native town furnished him his education. At
the age of eleven he became a clerk in a grocery store where he remained
four years, when he went to Newburyport to become a dry-goods salesman.
By cultivating a loving disposition he gained friends wherever he went,
and, of course, thus gained a confidence which he otherwise never would
have known. For this reason he gained his first letter of credit which
enabled him to buy his first consignment of goods without advancing the
money for them.
[Illustration: SELF-RELIANCE. Engraved Expressly for 'Hidden Treasures.']
As we review the various great and influential men we cannot but notice
how many, out of the total number, cultivated a pleasing manner. Certain
it is, to pleasing manners and ability owed he his success; without
either he could not have succeeded. Without the generous heart he
possessed he could never have won the great honor that he enjoyed, for
great wealth alone could not bring such honor. He was a notable moral
phenomenon. Of all the great and rich men of whom we are aware, none
gave as liberally as did he. Reader, think of it; a poor boy who became
one of the greatest bankers of his time, and who, during his life, gave
over eight millions of dollars to charity. Many of our rich men have
willed much to charity, but he gave while living.
He went to Georgetown, District of Columbia, and entered into a
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 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 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.