16
16
0
George Peabody (/ˈpiːbədi/ PEE-bə-dee;[2] February 18, 1795 – November 4, 1869) was an American financier and philanthropist. He is widely regarded as the father of modern philanthropy.
Born into a poor family in Massachusetts, Peabody went into business in dry goods and later into banking. In 1837 he moved to London (which was then the capital of world finance) where he became the most noted American banker and helped to establish the young country's international credit. Having no son of his own to whom he could pass on his business, Peabody took on Junius Spencer Morgan as a partner in 1854 and their joint business would go on to become J.P. Morgan & Co. after Peabody's 1864 retirement.
In his old age, Peabody won worldwide acclaim for his philanthropy. He founded the Peabody Trust in Britain and the Peabody Institute and George Peabody Library in Baltimore, and was responsible for many other charitable initiatives. For his generosity, he was awarded the Congressional Gold Medal and made a Freeman of the City of London, among many other honors.
Born into a poor family in Massachusetts, Peabody went into business in dry goods and later into banking. In 1837 he moved to London (which was then the capital of world finance) where he became the most noted American banker and helped to establish the young country's international credit. Having no son of his own to whom he could pass on his business, Peabody took on Junius Spencer Morgan as a partner in 1854 and their joint business would go on to become J.P. Morgan & Co. after Peabody's 1864 retirement.
In his old age, Peabody won worldwide acclaim for his philanthropy. He founded the Peabody Trust in Britain and the Peabody Institute and George Peabody Library in Baltimore, and was responsible for many other charitable initiatives. For his generosity, he was awarded the Congressional Gold Medal and made a Freeman of the City of London, among many other honors.
George Peabody - Wikipedia
Posted from en.wikipedia.org
Birthday
American History
Banking
Finance
Philanthropy
Edited 6 y ago
Posted 6 y ago
Responses: 9
6
6
0
Maj Marty Hogan, Peabody College, established in Nashville in 1875 (preceded by other educational institutions dating to 1785), got its initial financial support and name from George Peabody. It’s now the Peabody College of Education and Human Development and is one of ten colleges and schools that comprise Vanderbilt University.
Lt Col Charlie Brown CW5 Jack Cardwell COL Mikel J. Burroughs TSgt Joe C.
Lt Col Charlie Brown CW5 Jack Cardwell COL Mikel J. Burroughs TSgt Joe C.
(6)
(0)
4
4
0
Thank you, my friend Maj Marty Hogan for making us aware that February 18 is the anniversary of the birth of American financier and philanthropist George Peabody who many consider to be the father of modern philanthropy.
Images:
1. quote-education-a-debt-due-from-present-to-future-generations-George-Peabody
2. Statue of Sir George Peabody at the rear of the Royal Exchange, City of London, London.
3. George Peabody Painting by John E. Mayall
Essex County the Life of George Peabody
https://www.youtube.com/watch?v=wq4qzE5lmkk
Thank you, my friend TSgt Joe C. for mentioning me.
Background from yale.edu/collections/archives/biography/george-peabody
George Peabody (b. 1795, d. 1869) was born on February 18, 1795. He was the first great modern philanthropist and one of the best known world figures of the 19th century.
Peabody was born a poor boy in South Danvers, Massachusetts — a town that would later change its name to Peabody in honor of its most famous son. His formal schooling ended when he was apprenticed, at the age of 11, to the owner of a general store. There he learned habits that were to serve him well in later life — how to deal with people, to keep accounts, to be responsible and honorable. When Peabody’s apprenticeship ended when he was 15, the ambitious, intelligent and precocious young man set out to seek his fortune.
During the next half century, he did indeed make a fortune, in the best rags-to-riches tradition. By the age of 17 he was managing a store in Georgetown in the District of Columbia, at 20 he was a partner in a wholesale drygoods business, and by the time he was 22 he was worth more than $40,000. For 20 years he conducted business in Baltimore, gradually developing into an international merchant and financier. After 5 business trips to Europe, in 1837 he decided to settle in London, where he established the banking house of George Peabody and Company, specializing in foreign exchange and American securities.
During Peabody’s many years in London he accumulated enormous wealth, which, as he neared retirement, he resolved to give away. Through gifts and legacies he distributed approximately $9 million to worthy causes in both his native country and the country of his residence. Many of his philanthropies concerned education.
Peabody provided financial support for the education of his nephew, O.C. Marsh, who received his Bachelor of Arts degree from Yale in 1860. It was at Marsh’s urging that Peabody provided $150,000 in 1866 to establish Yale’s Peabody Museum of Natural History. In the same year, Peabody gave the same amount to Harvard to found the Peabody Museum of Archaeology and Ethnology.
George Peabody died in London on November 4, 1869. His body received the rare honor of a temporary burial in Westminster Abbey, and then, according to his wishes, was brought home to America and laid to rest in Peabody, Massachusetts."
FYI COL Mikel J. Burroughs LTC Stephen C. LTC (Join to see) Lt Col John (Jack) Christensen Lt Col Charlie Brown Maj Bill Smith, Ph.D. Maj William W. "Bill" Price Maj Marty Hogan SCPO Morris Ramsey SGT Mark Halmrast Sgt Randy Wilber Sgt John H. SGT Gregory Lawritson CPL Dave Hoover SPC Margaret Higgins SSgt Brian Brakke 1stSgt Eugene Harless CPT Scott Sharon SSG William Jones
Images:
1. quote-education-a-debt-due-from-present-to-future-generations-George-Peabody
2. Statue of Sir George Peabody at the rear of the Royal Exchange, City of London, London.
3. George Peabody Painting by John E. Mayall
Essex County the Life of George Peabody
https://www.youtube.com/watch?v=wq4qzE5lmkk
Thank you, my friend TSgt Joe C. for mentioning me.
Background from yale.edu/collections/archives/biography/george-peabody
George Peabody (b. 1795, d. 1869) was born on February 18, 1795. He was the first great modern philanthropist and one of the best known world figures of the 19th century.
Peabody was born a poor boy in South Danvers, Massachusetts — a town that would later change its name to Peabody in honor of its most famous son. His formal schooling ended when he was apprenticed, at the age of 11, to the owner of a general store. There he learned habits that were to serve him well in later life — how to deal with people, to keep accounts, to be responsible and honorable. When Peabody’s apprenticeship ended when he was 15, the ambitious, intelligent and precocious young man set out to seek his fortune.
During the next half century, he did indeed make a fortune, in the best rags-to-riches tradition. By the age of 17 he was managing a store in Georgetown in the District of Columbia, at 20 he was a partner in a wholesale drygoods business, and by the time he was 22 he was worth more than $40,000. For 20 years he conducted business in Baltimore, gradually developing into an international merchant and financier. After 5 business trips to Europe, in 1837 he decided to settle in London, where he established the banking house of George Peabody and Company, specializing in foreign exchange and American securities.
During Peabody’s many years in London he accumulated enormous wealth, which, as he neared retirement, he resolved to give away. Through gifts and legacies he distributed approximately $9 million to worthy causes in both his native country and the country of his residence. Many of his philanthropies concerned education.
Peabody provided financial support for the education of his nephew, O.C. Marsh, who received his Bachelor of Arts degree from Yale in 1860. It was at Marsh’s urging that Peabody provided $150,000 in 1866 to establish Yale’s Peabody Museum of Natural History. In the same year, Peabody gave the same amount to Harvard to found the Peabody Museum of Archaeology and Ethnology.
George Peabody died in London on November 4, 1869. His body received the rare honor of a temporary burial in Westminster Abbey, and then, according to his wishes, was brought home to America and laid to rest in Peabody, Massachusetts."
FYI COL Mikel J. Burroughs LTC Stephen C. LTC (Join to see) Lt Col John (Jack) Christensen Lt Col Charlie Brown Maj Bill Smith, Ph.D. Maj William W. "Bill" Price Maj Marty Hogan SCPO Morris Ramsey SGT Mark Halmrast Sgt Randy Wilber Sgt John H. SGT Gregory Lawritson CPL Dave Hoover SPC Margaret Higgins SSgt Brian Brakke 1stSgt Eugene Harless CPT Scott Sharon SSG William Jones
(4)
(0)
4
4
0
Great bio!
COL Mikel J. Burroughs Maj Marty Hogan SGT John " Mac " McConnell LTC Stephen F. Sgt Randy Wilber CW5 Jack Cardwell TSgt David L. Cpl (Join to see) Maj William W. 'Bill' Price CPL Dave Hoover SPC Douglas Bolton LTC Greg Henning Maj Bill Smith, Ph.D. Alan K. PO1 William "Chip" Nagel Lt Col Charlie Brown SFC Joe S. Davis Jr., MSM, DSL SPC Margaret Higgins PO3 Phyllis Maynard PO2 Kevin Parker
COL Mikel J. Burroughs Maj Marty Hogan SGT John " Mac " McConnell LTC Stephen F. Sgt Randy Wilber CW5 Jack Cardwell TSgt David L. Cpl (Join to see) Maj William W. 'Bill' Price CPL Dave Hoover SPC Douglas Bolton LTC Greg Henning Maj Bill Smith, Ph.D. Alan K. PO1 William "Chip" Nagel Lt Col Charlie Brown SFC Joe S. Davis Jr., MSM, DSL SPC Margaret Higgins PO3 Phyllis Maynard PO2 Kevin Parker
(4)
(0)
Read This Next
Continue with Facebook 
Continue with Google