offer, had a decidedly beneficial effect upon the small growers in the
neighborhood. "It proved a great stimulus to the growth of the Catawba
vine in the country around Cincinnati," to know that a man of Mr.
Longworth's means stood ready to pay cash, at the rate of from a dollar
to a dollar and a quarter a gallon, for all the grape-juice that might
be brought to him, without reference to the quantity. It was in this
way, and by urgent popular appeals through the columns of the
newspapers, that he succeeded, after many failures, and against the
depressing influence of much doubt and indifference, in bringing the
enterprise up to its present high and stable position. When he took the
matter in hand there was much to discourage any one not possessed of the
traits of constancy of purpose and perseverance peculiar to Mr.
Longworth. Many had tried the manufacture of wine, and had failed to
give it any economical or commercial importance. It was not believed,
until Mr. Longworth practically demonstrated it, that a native grape
was the only one upon which any hope could be placed, and that the
Catawba offered the most assured promise of success, and was the one
upon which all vine-growers might with confidence depend. It took years
of unremitted care, multiplied and wide-spread investigations, and the
expenditure of large sums of money, to establish this fact, and bring
the agricultural community to accept it and act under its guidance. The
success attained by Mr. Longworth soon induced other gentlemen resident
in the vicinity of Cincinnati, and favorably situated for the purpose,
to undertake the culture of the Catawba, and several of them are now
regularly and extensively engaged in the manufacture of wine. The
impetus and encouragement thus given to the business soon led the German
citizens of Hamilton County to perceive its advantages, and, under their
thrifty management, thousands of acres, stretching up from the banks of
the Ohio, are now covered with luxuriant and profitable vineyards,
rivaling in profusion and beauty the vine-clad hills of Italy and
France. The oldest vineyard in the county of Hamilton is of Mr.
Longworth's planting.

Mr. Longworth subsequently increased the size of his vineyard to two
hundred acres, and toward the close of his life his wine houses annually
produced one hundred and fifty thousand bottles of wine. His vaults
usually contained a stock of three hundred thousand bottles in course of
thorough ripening.

His cellars were situated on the declivity of East Sixth Street, on the
road to Observatory Hill. They occupied a space ninety feet by one
hundred and twenty-five in size, and consisted of two tiers of massive
stone vaults, the lower of which was twenty-five feet below the surface
of the ground. The manufacture of the wine was placed under the charge
of a celebrated chemist from Rheims, and the mode of preparation was as
follows:

After the pressing of the grape, the juice is subjected to the vinous
fermentation, by which ten or eleven per cent, of alcohol is developed.
In the following spring, it is mixed with a small quantity of sugar, and
put into strong bottles, the corks of which are secured with twine and
wire. The sugar accelerates a second fermentation, which always takes
place about this time, and thus a strong movement is produced inside the
glass, which generates gas enough to burst the vessels briskly, adding
thereby considerably to the cost. This is known as the gaseous
fermentation, and the effect of it is to render the wine more
enlivening, more stinging to the taste, and more fruity. "This last
effect results from this, that the flavor of the fruit mostly passes off
with the carbonic acid gas, which is largely generated in the first or
vinous fermentation, and in a less degree in this second or gaseous
fermentation." It is impossible to avoid the loss of the flavor in the
first fermentation, but the strong bottles and securely-fastened corks
preserve it in the second. The liquid, which is muddy at first, becomes
clear in about a year, a thick sediment having collected at the bottom
of the bottle. The bottles are then placed in racks, with their necks
downward, and are shaken vigorously every day for about three weeks.
This forces the sediment to settle down in the neck against the cork.
When it is all in the neck, the wires are cut, and the cork blown out by
the gas, carrying the sediment with it. Fresh sugar, for sweetness, is
now added, new corks are driven in and secured, and in a few weeks the
wine is ready for the market.

Mr. Longworth continued his wine trade with great success for about
twenty-five years, and though for some time his expenditures were
largely in excess of his income from this source, he at length reaped a
steady and increasing profit from it, which more than reimbursed him for
his former losses. He was very fond of the strawberry, and succeeded,
by careful and expensive cultivation, in making several very important
improvements in that delicious fruit. His experiments in the sexual
character of the strawberry are highly interesting, but must be passed
by here. He manifested no selfishness with respect to his fruits. He was
anxious that their cultivation should become general, and his
discoveries and improvements were always at the service of any and every
one who desired to make use of them.

He was thoroughly devoted to his adopted home, and anxious to secure its
steady improvement. When it was proposed to establish an observatory,
the Mount Adams property, then owned by him, was regarded as the most
fitting site for it. He was asked to name the price for which he would
sell the property. To the astonishment of the parties in charge of the
enterprise, he made a free gift of the land--four acres in extent--to
the trustees. A gentleman who had hoped to dispose of some of his own
property for this purpose charged Mr. Longworth, through the press, with
being influenced by a desire to improve his adjoining property by the
erection of the observatory on Mount Adams. Longworth promptly replied
that if the writer of the article in question would donate four acres of
his own property for an observatory, he (Longworth) would put up, at his
own expense, a building on it equal to that which had been erected on
Mount Adams, and transfer the latter place to the city as a permanent
pleasure ground. He quietly added that in this way his accuser might
himself receive, for his adjacent property, all the benefits of such an
improvement, and at the same time win for himself the lasting gratitude
of the people of Cincinnati. This settled the matter, and no more was
heard from the other side.

"Longworth," says one who knew him, "is a problem and a riddle--a
problem worthy of the study of those who delight in exploring that
labyrinth of all that is hidden and mysterious, the human heart; and a
riddle to himself and others. He is a wit and a humorist of a high
order; of keen sagacity and shrewdness in many other respects than in
money matters; one who can be exact to a dollar, and liberal, when he
chooses, with thousands; of marked peculiarity and tenacity in his own
opinions, yet of abundant tolerance to the opinions, however
extravagant, of others--a man of great public spirit and sound general
judgment.

"In addition to all this, it would be difficult to find an individual of
his position and standing so perfectly free from pride, in the ordinary
sense. He has absolutely none, unless it be the pride of eccentricity.
It is no uncommon circumstance for men to become rich by the
concentration of time, and labor, and attention to some one object of
profitable employment. This is the ordinary phase of money-getting, as
closing the ear and pocket to applications for aid is that of
money-saving. Longworth has become a rich man on a different principle.
He appears to have started upon the calculation that if he could put any
individual in the way of making a dollar for Longworth, and a dollar for
himself at the same time, by aiding him with ground for a lot, or in
building him a house on it; and if, moreover, he could multiply cases of
the kind by hundreds, or perhaps thousands, he would promote his own
interests just in the same measure as he was advancing those of others.
At the same time he could not be unconscious that, while their half was
subdivided into small possessions, owned by a thousand or more
individuals, his half was a vast, boundless aggregate, since it was the
property of one man alone. The event has done justice to his sagacity.
Hundreds, if not thousands, in and adjacent to Cincinnati, now own
houses and lots, and many have become wealthy, who would, in all
probability, have lived and died as tenants under a different state of
case. Had not Mr. Longworth adopted this course, he would have occupied
that relation to society which many wealthy men now sustain, that of
getting all they can and keeping all they get."

In politics, Mr. Longworth was a Whig, and afterward a Republican.
During the famous Clay campaign he was asked to give one hundred dollars
to help defray the expenses of the party.

"I never give something for nothing," said he. "We might fail to elect
Clay, as we did before, and I should fling away the hundred dollars."

The applicant, who was himself a man of wealth, assured him that there
was no doubt of Clay's election.

"There can be no chance of your losing," he said.

"Well," replied Longworth, "I'll tell you what I will do. I will give
you the hundred dollars, but mind, you shall be personally responsible
to me for its return if Clay is not elected."

The offer was accepted; and when the campaign resulted in the defeat of
Clay, Longworth demanded his money from the politician, who was
compelled to return it out of his own pocket.

In his own way--and a quaint, singular way it was--Mr. Longworth was
exceedingly charitable. Long after he was worth millions, and when every
moment of his time was valuable, he was supernumerary township trustee.
This was an office which required the expenditure of a considerable
portion of his time, and brought him in constant contact with some of
the most wretched of the lowest class of the poor. He was always in his
office, at stated times, and with a patience and kindness worthy of all
admiration, the millionaire listened to their sad tales, and provided
such aid as was necessary, oftentimes giving it out of his own purse
when the public funds failed.

He was a bitter foe to vagabondage and mendicity. If people in need were
willing to work, he would place them in the way of doing so. He was the
owner of a stone quarry on Deer Creek, the traces of which may still be
seen in the lines of the new Gilbert Avenue; and he kept in his office
a supply of picks and shovels. When a stout beggar asked him for alms,
he would inquire if he was willing to go to work. If answered
affirmatively, he would give him a pick and shovel, and start him for
the quarry, where the wages were promptly paid out every night. Many
availed themselves of the opportunity, and worked for him faithfully;
but others gave the quarry "a wide berth," and sold the pick and shovel
for money or liquor. It was his custom to buy large quantities of bread
tickets from the bakers, and to distribute them to those whom he
considered worthy; and he would also keep on hand large quantities of
shoes, dry goods, etc., which he gave away in the same manner.

Mr. Frank Pentland, who was once in his employ, relates the following
incident:

"One morning, just after Mr. Longworth had gone to his office, near the
Third-Street entrance, where he was accustomed to receive applicants for
charity, he was accosted by a man who craved assistance. In answer to a
question as to his needs, he replied that his main want was a pair of
shoes, and a glance at his feet showed that he spoke truthfully. Mr.
Longworth appeared 'to take his measure' at a glance, and impulsively
shaking his right foot (he seldom wore his shoes tied), kicked the shoe
over to the applicant, saying:

"'Try that on, my man. How does it fit?'

"'Illigant, yer honor,'

"'Well, try that, now,' said he, kicking off the other. 'How will they
do?'

"Illigant, yer honor; illigant! May many a blessing'--

"'Well, well, go now--that'll do,' and turning to Pentland, who was then
a young boy in his service, ordered him to the house to get another
pair. Frank obeyed, but was told by Mrs. Longworth that those he wore
away from the house were all that he had. The result was that Frank was
hurried off to William Hart's shoe store, on Fifth Street, for new ones,
with instructions to 'Ask Mr. Hart for the kind I always buy, and don't
pay over a dollar and a half for them.'"

Yet many persons charged this man with stinginess--a charge to which
every rich man lays himself open who does not give to all who ask him.
Even the rich must refuse sometimes, for there is no reason why they
should answer _all_ the calls made upon them--a course which would soon
impoverish them. They must discriminate somewhere, and how this shall be
done is a question which each must decide for himself. Longworth
exercised this discrimination in an eccentric manner, eminently
characteristic of him. He invariably refused cases that commended
themselves to others. A gentleman once applied to him for assistance for
a widow in destitute circumstances.

"Who is she?" asked the millionaire. "Do you know her? Is she a
deserving object?"

"She is not only a woman of excellent character," answered his friend,
"but she is doing all in her power to support a large family of
children."

"Very well, then," said Mr. Longworth, "I shan't give a cent. Such
persons will always find a plenty to relieve them."

He was firm, and turned coldly from the entreaties of his friend. Yet
he opened his purse liberally to those whom others refused. Vagabonds,
drunkards, fallen women, those who had gone down far into the depths of
misery and wretchedness, and from whom respectable people shrank in
disgust, never appealed to him in vain. "The devil's poor," he
whimsically called them. He would listen to them patiently, moved to the
depths of his soul by their sad stories, and would send them away
rejoicing that they were not utterly friendless. "Decent paupers will
always find a plenty to help them," he would say, "but no one cares for
these poor wretches. Every body damns them, and as no one else will help
them, I must." Yet he aided them in such a manner as to encourage them
to rise above their wretchedness.

In his personal appearance Mr. Longworth was not prepossessing. He was
dry and caustic in his remarks, and rarely spared the object of his
satire. He was plain and careless in his dress, looking more like a
beggar than a millionaire. He cared nothing for dress, except, perhaps,
that he preferred common clothes to fine ones. One of his acquaintances
relates the following story in illustration of this phase of his
character:

"Many winters ago, it will be remembered that a style of striped goods
was quite popular with poor people on account of its cheapness, and that
it acquired the name of 'Hard Times.' Every body with scant purses wore
coats or pants of it, for the reason that they could not very well buy
any other kind. As the story goes, it appears that 'Old Nick,' as he was
familiarly called, invested in an overcoat of this material, and took
great pride in wearing it, much to the annoyance of the women folks. It
happened that one cold, stormy night the faithful family coachman was at
the house without an overcoat, and Mrs. Longworth, after very feelingly
depicting his forlorn condition to her husband, solicited the privilege
of giving him the aforesaid overcoat. Much to her gratification, Mr.
Longworth assented, and the coachman wore off the 'Hard Times,' the good
wife replacing it by an elegant broadcloth that she had quietly provided
for the occasion. The next morning 'Old Nick' very innocently (?)
overlooked the new coat, and went off to make his usual morning rounds
without one; but it would be impossible to portray the annoyance of the
household when they saw him returning to dinner wearing a duplicate of
the veritable 'Hard Times,' and for weeks afterward it was no uncommon
occurrence to see the 'master and man' flitting about the old homestead
dressed in their gray stripes."

The shabbiness of his dress once led to an amusing adventure, which he
enjoyed very much. Climbing one of the hilly streets of the city one
broiling summer day, he sat down on a pile of bricks, under the cool
shade of a tree, to rest. Taking off his well-worn hat, he laid it on
his knee, and closing his eyes, sat enjoying the breeze which had just
then sprung up. He was very tired, and his whole figure expressed his
weariness. As he sat there in his shabby dress, with his eyes closed,
and his hat resting on his knees, he looked the very picture of a blind
beggar soliciting charity. For such, indeed, he was mistaken by a
working man who passed by a few minutes later, and who, pitying the
supposed unfortunate, tossed a few pennies into his hat. The noise of
the coppers made the old man open his eyes and look up; and to his
amazement the workman recognized in the object of his charity Nicholas
Longworth, the millionaire. Mr. Longworth looked at him a moment in his
dry, quizzical way, and then, thanking him politely, put the coins in
his pocket, and, closing his eyes, once more resumed his former
position.

Mr. Longworth had erected a magnificent mansion in the midst of his
vineyard. He gathered there a fine library, and a collection of
paintings, statuary, and other art treasures, which were his pride. He
died there on the 10th of February, 1863, at the age of eighty-one. His
loss was severely felt by the community, especially by his "devil's
poor," for whom he had cared so tenderly.




CHAPTER VIII.

GEORGE PEABODY.


It is not often that men who pass their lives in the acquisition of
money are able to retain the desire to give it to others who have had no
share in the earning of it. In European countries, the wealthy merchant
commonly uses his fortune for the purpose of founding a family, and
securing sometimes a title of nobility. His wealth is entailed, that it
may remain in his family and benefit remote generations; but few save
those of his own blood enjoy any benefit from it, and the world is no
better off for his life and success than if he had never been born. In
America, instances of personal generosity and benevolence on a large
scale are of more common occurrence than in the Old World. We have
already borne witness to the munificence of Girard, Astor, Lawrence,
Longworth, and Stewart, and shall yet present to the reader other
instances of this kind in the remaining pages of this work. We have now
to trace the career of one who far exceeded any of these in the extent
and magnitude of his liberality, and who, while neglecting none
connected with him by ties of blood, took the whole English-speaking
race for his family, and by scattering his blessings far and wide on
both sides of the Atlantic, has won a proud name

"As one who loved his fellow-men."


[Illustration: GEORGE PEABODY.]

GEORGE PEABODY came of an old English family, which traced its
descent back to the year of our Lord 61, the days of the heroic
Boadicea, down through the brilliant circle of the Knights of the Round
Table, to Francis Peabody, who in 1635 went from St. Albans, in
Hertfordshire, to the New World, and settled in Danvers, Massachusetts,
where the subject of this memoir was born one hundred and sixty years
later, on the 18th of February, 1795. The parents of George Peabody were
poor, and hard work was the lot to which he was born, a lot necessary to
develop his sterling qualities of mind and heart. He was possessed of a
strong, vigorous constitution, and a quick, penetrating intellect. His
education was limited, for he was taken from school at the age of
eleven, and set to earning his living. Upon leaving school, he was
apprenticed to a Mr. Sylvester Proctor, who kept a "country store" in
Danvers. Here he worked hard and faithfully for four or five years,
devoting himself, with an energy and determination surprising in one so
young, to learn the first principles of business. His mind matured more
rapidly than his body, and he was a man in intellect long before he was
out of his teens. Having gained all the information it was possible to
acquire in so small an establishment, he began to wish for a wider field
for the exercise of his abilities. A retail grocery store was no longer
the place for one possessed of such talents, and thoroughly conscious of
them at such an early age, and it was natural that he should desire some
more important and responsible position.

Accordingly, he left Mr. Proctor's employment, and spent a year with his
maternal grandfather at Post Mills village, Thetford, Vermont. "George
Peabody's year at Post Mills," says a writer who knew him, "must have
been a year of intense quiet, with good examples always before him, and
good advice whenever occasion called for it; for Mr. Dodge and his wife
were both too shrewd to bore him with it needlessly.

"It was on his return from this visit that he spent a night at a tavern
in Concord, N.H., and paid for his entertainment by sawing wood the next
morning. That, however, must have been a piece of George's own voluntary
economy, for Jeremiah Dodge would never have sent his grandson home to
Danvers without the means of procuring the necessaries of life on the
way, and still less, if possible, would Mrs. Dodge...."

[Illustration: PEABODY PAYING FOR A NIGHT'S LODGING.]

"The interest with which Mr. Peabody remembered this visit to Post Mills
is shown by his second visit so late in life, and his gift of a
library--as large a library as that place needs. Of its influence on his
subsequent career, of course, there is no record. Perhaps it was not
much. But, at least, it gave him a good chance for quiet thinking, at an
age when he needed it; and the labors of the farm may have been useful
both to mind and body."

At the age of sixteen, in the year 1811, he went to Newburyport, and
became a clerk in the store of his elder brother, David Peabody, who was
engaged in the dry goods business at that place. He exhibited unusual
capacity and promise in his calling, and soon drew upon himself the
favorable attention of the merchants of the place. He was prompt,
reliable, and energetic, and from the first established an enviable
reputation for personal and professional integrity. It is said that he
earned here the first money he ever made outside of his business. This
was by writing ballots for the Federal party in Newburyport. Printed
ballots had not then come into use.

He did not stay long in Newburyport, as a great fire, which burned up a
considerable part of the town, destroyed his brother's store, and
obliged him to seek employment elsewhere. He always retained a warm
attachment to the place, however, an attachment which a resident of the
town explains as follows:

"The cause of Mr. George Peabody's interest in Newburyport was not alone
that he had lived here for a brief period, or that his relatives had
lived here; but rather it was the warm friendship that had been shown
him, which was, in fact, the basis of his subsequent prosperity. He left
here in 1811, and returned in 1857. The forty-six intervening years had
borne to the grave most of the persons with whom he had formed
acquaintance. Among those he recognized were several who were in
business, or clerks, on State Street in 1811,--Messrs. John Porter,
Moses Kimball, Prescott Spaulding, and a few others. Mr. Spaulding was
fourteen years older than Mr. Peabody, and in business when the latter
was a clerk with his uncle, Colonel John Peabody. Mr. Peabody was here
in 1857, on the day of the Agricultural Fair, and was walking in the
procession with the late Mayor Davenport, when he saw Mr. Spaulding on
the sidewalk, and at once left the procession to greet him.

"Mr. Spaulding had rendered him the greatest of services. When Mr.
Peabody left Newburyport, he was under age, and not worth a dollar. Mr.
Spaulding gave him letters of credit in Boston, through which he
obtained two thousand dollars' worth of merchandise of Mr. James Reed,
who was so favorably impressed with his appearance, that he subsequently
gave him credit for a larger amount. This was his start in life, as he
afterward acknowledged; for at a public entertainment in Boston, when
his credit was good for any amount, and in any part of the world, Mr.
Peabody laid his hand on Mr. Reed's shoulder, and said to those present,
'My friends, here is my first patron; and he is the man who sold me my
first bill of goods.' After he was established in Georgetown, D.C., the
first consignment made to him was by the late Francis Todd, of
Newburyport. It was from these facts that Newburyport was always
pleasant in his memory; and the donation he made to the Public Library
was on his own suggestion, that he desired to do something of a public
nature for our town."

From New England, George Peabody turned his face southward, and entered
the employment of his uncle, Mr. John Peabody, who was engaged in the
dry goods business in Georgetown, in the District of Columbia. He
reached that place in the spring of 1812; but, as the second war with
England broke out about the same time, was not able to give his
immediate attention to business. He became a member of a volunteer
company of artillery, which was stationed at Fort Warburton, but as no
active duty was required of the company, he soon went back to his
uncle's store. His uncle was a poor man and a bad manager, and for two
years the business was conducted by George Peabody, and in his own name;
but at the end of that time, seeing the business threatened with ruin by
his uncle's incapacity, he resigned his situation, and entered the
service of Mr. Elisha Riggs, who had just established a wholesale dry
goods house in Georgetown. Mr. Riggs furnished the capital for the
concern, and Mr. Peabody was given the management of it. Soon after
this, the latter became a partner in the house. It is said that when Mr.
Riggs invited Mr. Peabody to become his partner, the latter informed him
that he could not legally assume the responsibilities of the business,
as he was only nineteen years old. This was no objection in the mind of
the merchant, as he wanted a young and active assistant, and had
discerned in his boy-manager the qualities which never fail to win
success.

The new business in which he was engaged consisted chiefly in the
importation and sale of European goods, and consignments of dry goods
from the northern cities. It extended over a wide field, and gave Mr.
Peabody a fine opportunity for the display of his abilities. Mr. Riggs'
friends blamed him very much for leaving his business so entirely in the
hands of a boy of nineteen; but he had better proof than they that his
affairs were not only in good but in the best hands, and he answered
them all by telling them that time would justify his course. Mr. Peabody
traveled extensively in establishing his business, often journeying into
the wild and unsettled regions of the border States on horseback. He
worked with energy and intelligence, and in 1815 the business was found
to be so extensive that a removal to Baltimore became necessary. About
this time a sort of irregular banking business was added to the
operations of the house. This was chiefly the suggestion of Mr. Peabody,
and proved a source of great profit.

Mr. Peabody quickly took a prominent rank among the merchants of
Baltimore. His manner was frank and engaging, and won him many friends.
He was noted for "a judgment quick and cautious, clear and sound, a
decided purpose, a firm will, energetic and persevering industry,
punctuality and fidelity in every engagement, justice and honor
controlling every transaction, and courtesy--that true courtesy which
springs from genuine kindness--presiding over the intercourse of life."
His business continued to increase, and in 1822 it became necessary to
establish branches in Philadelphia and New York, over which Mr. Peabody
exercised a careful supervision. He was thoroughly familiar with every
detail of his business, and never suffered his vigilance to relax,
however competent might be the subordinates in the immediate charge of
those details. In 1827 he went to England on business for his firm, and
during the next ten years made frequent voyages between New York and
London.

In 1829 Mr. Riggs withdrew from the firm, and Mr. Peabody become the
actual head of the house, the style of the firm, which had previously
been "Riggs & Peabody," being changed to "Peabody, Riggs & Co." The firm
had for some time been the financial agents of the State of Maryland,
and had managed the negotiations confided to them with great skill and
success; and every year their banking department became more important
and more profitable.

In 1836 Mr. Peabody determined to extend his business, which was already
very large, to England, and to open a branch house in London. In 1837 he
removed to that city for the purpose of taking charge of his house
there, and from that time London became his home.

The summer of this year was marked by one of the most terrible
commercial crises the United States has ever known. A large number of
the banks suspended specie payment, and the majority of the mercantile
houses were either ruined or in the greatest distress. Thousands of
merchants, until then prosperous, were hopelessly ruined. "That great
sympathetic nerve of the commercial world, credit," said Edward Everett,
"as far as the United States was concerned, was for the time paralyzed.
At that moment Mr. Peabody not only stood firm himself, but was the
cause of firmness in others. There were not at that time, probably, half
a dozen other men in Europe who, upon the subject of American
securities, would have been listened to for a moment in the parlor of
the Bank of England. But his judgment commanded respect; his integrity
won back the reliance which men had been accustomed to place in American
securities. The reproach in which they were all involved was gradually
wiped away from those of a substantial character; and if, on this solid
basis of unsuspected good faith, he reared his own prosperity, let it be
remembered that at the same time he retrieved the credit of the State of
Maryland, of which he was agent--performing that miracle by which the
word of an honest man turns paper into gold."

The conduct of Mr. Peabody, as well as the evidences which he gave of
his remarkable capacity for business, in this crisis, placed him among
the foremost merchants of London. He carried on his business upon a
large scale from his base of operations in that city. He bought British
manufactures in all parts of England and shipped them to the United
States. His vessels brought back in return all kinds of American produce
which would command a ready sale in England. Profitable as these
ventures were, there was another branch of his business much more
remunerative to him. The merchants and manufacturers on both sides of
the Atlantic who consigned their goods to him frequently procured from
him advances upon the goods long before they were sold. At other times
they would leave large sums in his hands long after the goods were
disposed of, knowing that they could draw whenever they needed, and that
in the meanwhile their money was being so profitably invested that they
were certain of a proper interest for their loans. Thus Mr. Peabody
gradually became a banker, in which pursuit he was as successful as he
had been as a merchant. In 1843 he withdrew from the house of Peabody,
Riggs & Co., and established the house of "George Peabody & Company, of
Warnford Court, City."

His dealings were chiefly with America, and in American securities, and
he was always regarded as one of the best specimens of the American
merchant ever seen in London. He was very proud of his country; and
though he passed so many years of his life abroad, he never forgot that
he was an American. In speaking of the manner in which he organized his
business establishment, he once said: "I have endeavored, in the
constitution of its members and the character of its business, to make
it an American house, and to give it an American atmosphere; to furnish
it with American journals; to make it a center of American news, and an
agreeable place for my American friends visiting London."

It was his custom, from his first settlement in England, to celebrate
the anniversary of the independence of his country by an entertainment
at one of the public houses in the city, to which the most distinguished
Americans in London were always invited, as were also many of the
prominent men of Great Britain; and this dinner was only discontinued in
deference to the general celebration of the day which was afterward
instituted by the whole body of Americans resident in the British
metropolis. In the year 1851, when it was thought that there would be no
representation of the achievements of American skill and industry in the
Great Exhibition of that year, from a lack of funds, Mr. Peabody
generously supplied the sum of fifteen thousand dollars, which enabled
the Commissioners to make a suitable display of the American
contributions. Said the Hon. Edward Everett, alluding to this act:

"In most, perhaps in all other countries, this exhibition had been a
government affair. Commissioners were appointed by authority to protect
the interests of the exhibitors; and, what was more important,
appropriations of money had been made to defray their expenses. No
appropriations were made by Congress. Our exhibitors arrived friendless,
some of them penniless, in the great commercial Babel of the world. They
found the portion of the Crystal Palace assigned to our country
unprepared for the specimens of art and industry which they had brought
with them; naked and unadorned by the side of the neighboring arcades
and galleries fitted up with elegance and splendor by the richest
governments in Europe. The English press began to launch its too ready
sarcasms at the sorry appearance which Brother Jonathan seemed likely to
make; and all the exhibitors from this country, as well as those who
felt an interest in their success, were disheartened. At this critical
moment, our friend stepped forward. He did what Congress should have
done. By liberal advances on his part, the American department was
fitted up; and day after day, as some new product of American ingenuity
and taste was added to the list,--McCormick's reaper, Colt's revolver,
Powers's Greek Slave, Hobbs's unpickable lock, Hoe's wonderful printing
presses, and Bond's more wonderful spring governor,---it began to be
suspected that Brother Jonathan was not quite so much of a simpleton as
had been thought. He had contributed his full share, if not to the
splendor, at least to the utilities of the exhibition. In fact, the
leading journal at London, with a magnanimity which did it honor,
admitted that England had derived more real benefit from the
contributions of the United States than from those of any other
country."

As has been said, Mr. Peabody made the bulk of his colossal fortune in
the banking business. He had a firm faith in American securities, and
dealt in them largely, and with confidence. His business instinct was
remarkable, his judgment in mercantile and financial matters almost
infallible, and he made few mistakes. His course was now onward and
upward, and each year marked an increase of his wealth. His business
operations were conducted in pursuance of a rigid system which was never
relaxed. To the very close of his life he never abandoned the exact or
business-like manner in which he sought to make money. He gave away
millions with a generosity never excelled, yet he could be exacting to a
penny in the fulfillment of a contract.

In his youth he contracted habits of economy, and these he retained to
the last. Being unmarried, he did not subject himself to the expense of
a complete domestic establishment, but lived in chambers, and
entertained his friends at his club or at a coffee-house. His habits
were simple in every respect, and he was often seen making his dinner on
a mutton-chop at a table laden (at his cost) with the most sumptuous and
tempting viands. His personal expenses for ten years did not average
three thousand dollars per annum.

The conductor on an English railway once overcharged him a shilling for
fare. He promptly complained to the directors, and had the man
discharged. "Not," said he, "that I could not afford to pay the
shilling, but the man was cheating many travelers to whom the swindle
would be offensive."

Several years ago he chanced to ride in a hack in Salem, Massachusetts,
and upon reaching his destination tendered the driver his usual fee of
fifty cents.

"Here's your change, sir," said the man, handing him back fifteen cents.

"Change!" exclaimed Mr. Peabody; "why, I'm not entitled to any."

"Yes, you are; I don't charge but thirty-five cents for a ride in my
hack."

"How do you live, then?"

"By fair dealing, sir. I don't believe in making a man pay more than a
thing is worth just because I have an opportunity."

Mr. Peabody was so much pleased with this reply, that as long as he
remained in Salem he sought this man out and gave him his custom.

In his dress Mr. Peabody was simple and unostentatious. He was
scrupulously neat and tasteful, but there was nothing about him to
indicate his vast wealth. He seldom wore any jewelry, using merely a
black band for his watch-guard. Display of all kinds he abominated.

He made several visits to his native country during his last residence
in London, and commemorated each one of them by acts of princely
munificence. He gave large sums to the cause of education, and to
religious and charitable objects, and made each one of his near kindred
wealthy. None of his relatives received less than one hundred thousand
dollars, and some were given as much as three times that sum. He gave
immense sums to the poor of London, and became their benefactor to such
an extent that Queen Victoria sent him her portrait, which she had
caused to be executed for him at a cost of over forty thousand dollars,
in token of her appreciation of his services in behalf of the poor of
her realm.

Mr. Peabody made another visit to the United States in 1866, and upon
this occasion added large sums to many of the donations he had already
made in this country. He remained here until May, 1867, when he returned
to England. He came back in June, 1869, but soon sailed again for
England. His health had become very feeble, and it was his belief that
it would be better in the atmosphere of London, to which he had been so
long accustomed. His hope of recovery was vain. He failed to rally upon
reaching London, and died in that city on the 4th of November, 1869.

The news of his death created a profound sadness on both sides of the
Atlantic, for his native and his adopted country alike revered him as a
benefactor. The Queen caused his body to be placed in a vault in
Westminster Abbey, amidst the greatest and noblest of her kingdom, until
all was in readiness for its transportation to the United States in a
royal man-of-war. The Congress of the United States authorized the
President to make such arrangements for the reception of the body as he
should deem necessary. Sovereigns, statesmen, and warriors united to do
homage to the mortal remains of this plain, simple man, who, beginning
life a poor boy, and never departing from the character of an unassuming
citizen, had made humanity his debtor by his generosity and goodness. He
was borne across the ocean with kingly honors, two great nations acting
as chief mourners, and then, when the pomp and the splendor of the
occasion were ended, they laid him down in his native earth by the side
of the mother from whom he had imbibed those principles of integrity and
goodness which were the foundation of his fame and fortune.

It is impossible to obtain an accurate statement of the donations made
by Mr. Peabody to the objects which enlisted his sympathy. In addition
to those mentioned in the list below, he gave away for various public
purposes sums ranging from two hundred and fifty to one thousand
dollars, and extending back as far as the year 1835. He divided among
his relatives the sum of about three millions of dollars, giving them a
portion during his last visit to this country, and leaving them the
remainder at his death.

The following is a statement of his more important donations during his
life, including the bequests contained in his last will and testament:

To the State of Maryland, for negotiating the
loan of $8,000,000.................................    $60,000
To the Peabody Institute, Baltimore, Md., including
accrued interest...................................  1,500,000
To the Southern Education Fund........................  3,000,000
To Yale College.......................................    150,000
To Harvard College....................................    150,000
To Peabody Academy, Massachusetts.....................    140,000
To Phillips Academy, Massachusetts....................     25,000
To Peabody Institute, etc., at Peabody, Mass..........    250,000
To Kenyon College, Ohio...............................     25,000
To Memorial Church, in Georgetown, Mass...............    100,000
To Homes for the Poor in London.......................  3,000,000
To Libraries in Georgetown, Massachusetts,
and Thetford, Vermont..............................     10,000
To Kane's Arctic Expedition...........................     10,000
To different Sanitary Fairs...........................     10,000
To unpaid moneys advanced to uphold the
credit of States...................................     40,000

Total................................................. $8,470,000

The life of such a man affords lessons full of hope and encouragement to
others. In 1856, when on a visit to Danvers, now named Peabody, in honor
of him, its most distinguished son and greatest benefactor, he said: