Source.—Annual Register, vol. 104; Chronicle, p. 41.

This great merchant (Mr. George Peabody), mindful of his reception in this city of his long sojourn, has made to its citizens the splendid gift of £150,000, with the one only condition, the exclusion from its management of all sectarianism in regard to religion, and of all exclusion in regard to politics. The following is the letter which conveyed this noble gift:

London,
March 12, 1862.

Gentlemen,

In reference to the intention which it is the object of this letter to communicate, I am desirous to explain that, from a comparatively early period of my commercial life, I had resolved in my own mind that, should my labours be blessed with success, I would devote a portion of the property thus acquired to promote the intellectual, moral, and physical welfare and comfort of my fellow-men, wherever, from circumstances or location, their claims upon me would be the strongest.

... It is now twenty-five years since I commenced my residence and business in London as a stranger, but I did not long feel myself a “stranger” or in a “strange land,” for in all my commercial and social intercourse with my British friends during that long period, I have constantly received courtesy, kindness, and confidence.... My object being to ameliorate the condition of the poor and needy of this great metropolis, and to promote their comfort and happiness, I take pleasure in apprising you that I have determined to transfer to you the sum of £150,000 which now stands available for this purpose on the books of Messrs. George Peabody and Co.

... I have few instructions to give or conditions to impose, but there are some fundamental principles from which it is my solemn injunction that those entrusted with its application shall never, under any circumstances, depart.

First and foremost among them is the limitation of its uses absolutely and exclusively to such purposes as may be calculated directly to ameliorate the condition and augment the comforts of the poor, who, either by birth or established residence, form a recognised portion of the population of London.

Secondly, it is my intention that now and for all time there shall be a rigid exclusion from the management of this fund of any influences calculated to impart to it a character either sectarian as regards religion, or exclusive in relation to local or party politics.

Thirdly, in conformity with the foregoing conditions it is my wish and intention that the sole qualifications for a participation in the benefits of this fund shall be an ascertained and continued condition of life such as brings the individual within the description (in the ordinary sense of the word) of “the poor” of London, combined with moral character and good conduct as a member of society. It must therefore be held to be a violation of my intentions if any duly-qualified and deserving claimant were to be excluded either on the ground of religious belief or of political bias.