Great Fortunes, and How They Were Made

ies, 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 fam

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 libera

loved his

GE P

orn, 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 t

"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 be

e next morning. That, however, must have been a piece of George's own voluntary economy, for Jeremiah Dodge would never have sent his gran

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 leas

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 an

, destroyed his brother's store, and obliged him to seek employment elsewhere. He always retained a w

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 olde

m 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 b

uty 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,

ely 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 borde

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.

gs & Peabody," being changed to "Peabody, Riggs & Co." The firm had for some time been the financial agents of the State of Maryland, and had manage

England, and to open a branch house in London. In 1837 he removed to that city for the

d 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 bee

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 t

any 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 chara

reat 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 o

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 add

ile 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 rel

nt, 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

ined to the directors, and had the man discharged. "Not," said he, "that I could not afford to p

alem, Massachusetts, and upon reaching his destinat

," said the man, handing

r. Peabody; "why, I'm

arge but thirty-five cent

you live

n making a man pay more than a thing is

ply, that as long as he remained in Salem he

teful, but there was nothing about him to indicate his vast wealth. He seldom wore any j

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 be

ay, 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 t

ongress 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

st 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

ant donations during his life, including the be

, for negotiating the lo

Baltimore, Md., including

rn Education

Colleg

rd Colle

ademy, Massac

cademy, Massa

ute, etc., at Pea

College, O

ch, in Georgetow

the Poor in L

own, Massachusetts, and

rctic Exped

t Sanitary

nced to uphold the cr

$8,4

o others. In 1856, when on a visit to Danvers, now named Peabody, in ho

mble boy who left yonder unpretending dwelling. There is not a youth within the sound of my voice whose early opportunities and advant

APITA

US VAND