The Rise of George Peabody

George Peabody was a British-American businessman and philanthropist. He was respected for his many charitable initiatives and for being instrumental in establishing the George Peabody Library and the Peabody Institute in Baltimore and the Peabody Trust in UK.

Peabody was born on February 18, 1795 in South Danvers, Massachusetts. He was born to a poor family and through his childhood, Peabody was deprived of many things. His childhood deprivations inspired his philanthropic activities later in his life. His birthplace is now known as the George Peabody House Museum and was used in interpreting his life, work and legacy.

After moving to Baltimore in 1816, Peabody would spend the next two decades here to establish his career. His office later became the rendezvous of the Second Continental Congress in 1977. He became a successful entrepreneur and financier. His devotion to art education and music led to the creation of the Peabody Institute.

Peabody first came to the UK in 1827 because of business but this was just the beginning of four other trans-Atlantic trips in the next ten years. He opened an office in Liverpool. In London, Peabody opened a bank and called it George Peabody & Company. He decided to permanently reside in London in 1837, and spent the rest of his life there.

During the peak of his financial success, Peabody made one of his many visits to the US in February 1867. One of the cronies of President Andrew Jackson, Francis P. Blair, floated the idea that Peabody can serve as Secretary of Treasury for the Jackson administration. Many newspapers also mentioned him as a possible presidential candidate. Later, Peabody described the idea of running for president as “kind and complimentary reference.” But at 72, he thought he was too old for both offices.

Peabody died on November 4, 1869 in London. He was 74. After his body was temporarily laid in Westminster Abbey, the largest ship of the British Royal Navy at that time, the HMS Monarch, brought his remains back to the US. His final resting place was at Harmony Grove Cemetery in Salem, Massachusetts.