George Peabody

Birth: February 18, 1795.

Death: November 4, 1869.

Burial Location: Locust Path, Lot 67, Grave 4.

George Peabody was born in South Danvers (now Peabody) Massachusetts. He was one of seven children and was born in poverty, but died as one of wealthiest men of his time. Peabody began his career in the dry goods business. Later he went into banking and early was successful. In 1816 he moved to Baltimore and lived there for there 20 years. In 1837 moved to London, which was then the capital of the financial world. He worked on loan defaults, concentrating on getting payments made. He never married and had no children.

He became partners with Junius Spencer Morgan in 1854. J.S Morgan was the father of the better known J.P. Morgan. George Peabody retired in 1864.

During his lifetime, Peabody contributed to many nonprofit organizations in England and America. He did not answer individual requests, but always made his own decisions about funding. He concentrated on educational initiatives in the United States: libraries, museums and school programs in the United States and affordable housing in Great Britain. He was awarded the United States Congressional Gold medal and was made a Freeman of the City of London. However, he turned down an offer of a British title, requesting instead a portrait of Queen Victoria and a letter from her. This request was granted.

George Peabody was known for his grand celebrations of the Fourth of July. He lived simply, renting an apartment in London. He had many friends there but always retained his love for his native country, which he visited twice while living in London. At his death in 1869, at the age of 74, it was discovered that he wished to be buried in the city of his birth He was temporarily buried in Westminster Abbey and then his body was shipped to the United States. He is known as the Father of Philanthropy.  

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Photo: The Metropolitan Museum of Art, New York City, NY.

Sources Consulted:

• ‍Book:
  • The Life of George Peabody: Containing A Record of Those Princely Acts of Benevolence Which Entitle Him to the Esteem and gratitude of all friends of Education and the destitute, both in America, the land of his birth and in England, the place of his death. Phebe A. Hanaford, B.B. Russell, Publisher: Boston, Massachusetts, 1870.
• ‍Internet:
  • Maryland State Archives.
  • Peabody Historical Society & Museum, Peabody, MA.
  • Philanthropy Hall of Fame: George Peabody by Kari Barbic.
  • Wikipedia.