Today most of us know of some kind of non-governmental organization dedicated to the protection of some group such as children or to providing humanitarian aid.

And not only institutions, but also many citizens make donations and perform acts dedicated to supporting charitable causes. In many cases these are acts of philanthropy, support and selfless help to others.

But although this type of act in aid of the underprivileged is something that today and for a couple of centuries we see with some frequency (although not always in a disinterested way), the truth is that they were not common until the arrival of George Peabody, the so-called father of modern philanthropy. It is about this man that we are going to talk throughout this article, making a brief biography of George Peabody .

A short biography of George Peabody

George Peabody was born on February 18, 1795 in the town of South Danvers (later renamed Peabody in his honor), Massachusetts. He was born into a humble, working-class family, the third of eight children.

With very limited resources, his academic training was also poor: he was only able to undertake formal studies for four years, until he was eleven years old. However, this experience would greatly stimulate him, often going to the local library to read.

First works and expansion

At that age he started working in a textile shop as an apprentice. He had a great capacity for work and was good with numbers. Over time he moved to Washington, specifically to Georgetown, where he was able to open a shop within the same sector. In 1811, however, his father died leaving behind various debts, which forced the young man to work long hours in order to support his family.

When he arrived in 1812, Peabody joined the army to fight in the Anglo-American war . There he met Elisha Riggs, a merchant with whom he would eventually associate in order to import his goods. This business, under the name of Peabody, Riggs & Company, would begin to prosper so that Peabody was able to open several branches in different parts of the country.

Establishment in London

During 1816 he moved to Baltimore, where he prospered and was increasingly recognized for his business acumen. When he arrived in 1827, Peabody travelled to London to trade on behalf of his company , and opened a branch in the city. At this time, he also began to be more actively involved in international trade and in the issue of his country’s bonds, and he also began to work in the banking sector.

Peabody eventually settled in London, moving there in 1837 and living the rest of his life in the United Kingdom. In 1854 he associated with Junius Spencer Morgan and founded another company, George Peabody & Company, this time focused on banking . Little by little, his bank began to increase its popularity, to the point of becoming one of the most important banks of the 19th century.

Some of his great charitable works

Although throughout his life he carried out numerous activities that helped multiple companies and nations, it was not until the 1850s that he began to dedicate himself with ever greater impetus to helping those in need .

He founded the Peabody Institute Library in his hometown in 1852, along with other institutions, such as the Peabody Institute in Baltimore (which included an art gallery and music academy), and similar institutions in Washington or Massachusetts. He also founded the Peabody Education Fund , in order to support the development and education of the most disadvantaged children.

George Peabody invested primarily in education, founding or participating in the resourcing of a total of 22 institutions. Also, largely due to his relationship with his nephew Othniel Charles Marsh (whom he helped to educate and who would end up becoming one of the century’s most important paleontologists), he founded an archaeology museum and the Yale Museum of Natural History . He also financed different expeditions, such as those of explorers like Elisha Kane.

Last years and death

During the 1860s Peabody received numerous decorations : in 1862 he was named Free Man of the City of London, in 1867 he was awarded the Congressional Gold Medal in the United States and in 1868 South Danvers would change its name to Peabody in honour of its most illustrious son.

It was also in that decade that he retired, specifically in 1864, with a large fortune behind him of which he donated approximately half. He also lived through the Civil War, and it is known that he maintained an abolitionist stance and worked to generate educational institutions for both whites and blacks.

At the same time, his acts of philanthropy multiplied, most notably the creation in 1862 of a fund (Peabody Donation Fund or Peabody Trust) dedicated to fighting poverty and improving the condition of children in London, which also helped to build houses with running water for the poor. Queen Victoria of England offered him a knighthood and a baronship, but he refused these honors because he did not think he deserved them. They built a statue in his honour at the Royal Exchange.

However, in 1869 Peabody, who already suffered from rheumatic arthritis and gout, became ill with pneumonia, which eventually led to his death on November 4, 1869 in London. He was given the rare honour of being buried in Westminster Abbey, something desired by the British royal family, but after some time in that location and in order to honour his last wishes his body would be moved to the town where he was born, the then Peabody (formerly South Danvers).

Bibliographic references:

  • Hanaford, P. (1870). The life of George Peabody.. B.B. Russell.