On This Day

American financier and philanthropist George Peabody establishes the Peabody Education Fund to provide improvements to e

American financier and philanthropist George Peabody establishes the Peabody Education Fund to provide improvements to existing schools in poor areas of the southern USA

George Peabody (February 18, 1795 – November 4, 1869) was an American financier and philanthropist. He is often considered 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 the global financial services firm J.P. Morgan & Co. after Peabody's 1864 retirement.

In his old age, Peabody won worldwide acclaim for his philanthropy.

Historical Significance

George Peabody (February 18, 1795 – November 4, 1869) was an American financier and philanthropist.

Events Before

  1. US House of Representatives passes the 14th Amendment (Civil Rights)

    The Civil Rights Act of 1866 (14 Stat. 27, enacted April 9, 1866, reenacted 1870) was the first United States federal law to define citizenship and affirm that all citizens are equally protected by...

  2. First transatlantic telegraph cable comes ashore at Heart's Content, Newfoundland, after being laid out 1,686 miles by I

    First transatlantic telegraph cable comes ashore at Heart's Content, Newfoundland, after being laid out 1,686 miles by Isambard Kingdom Brunel's Great Eastern steamship

  3. Tsarevich Alexander of Russia (later Alexander III) marries Princess Dagmar of Denmark at the Grand Church of the Winter

    Tsarevich Alexander of Russia (later Alexander III) marries Princess Dagmar of Denmark at the Grand Church of the Winter Palace, St. Petersburg

  4. Fisk University opens in Nashville, Tennessee

    Fisk University is a private historically black liberal arts college in Nashville, Tennessee, United States.

  5. Steamship London sinks in storm off Land's End, England and kills 220

    Steamship London sinks in storm off Land's End, England and kills 220

Events After

  1. US House of Representatives votes 126 to 47 to impeach President Andrew Johnson

    The impeachment of Andrew Johnson for "high crimes and misdemeanors" was initiated by the United States House of Representatives on February 24, 1868.

  2. American religious leader Brigham Young weds his 53rd wife, American actress and future polygamy critic Anna Webb (24),

    American religious leader Brigham Young weds his 53rd wife, American actress and future polygamy critic Anna Webb (24), in Salt Lake City, Utah

  3. The Shogunate is abolished in Japan

    The first human inhabitants of the Japanese archipelago have been traced to the Paleolithic, around 38–39,000 years ago.

  4. Abyssinian War ends as British and Indian troops capture Magdala and Ethiopian Emperor Tewodros II commits suicide

    Abyssinian War ends as British and Indian troops capture Magdala and Ethiopian Emperor Tewodros II commits suicide

  5. US Senate fails to impeach President Andrew Johnson by one vote

    The impeachment of Andrew Johnson for "high crimes and misdemeanors" was initiated by the United States House of Representatives on February 24, 1868.

More from the 1860s

Frequently Asked Questions

What happened on February 6, 1867?
George Peabody (February 18, 1795 – November 4, 1869) was an American financier and philanthropist. He is often considered the father of modern philanthropy. Born into a poor family in Massachusetts, Peabody went into business in dry goods and later into banking.
Why is American financier and philanthropist George Peabody establishes the Peabody ... significant?
George Peabody (February 18, 1795 – November 4, 1869) was an American financier and philanthropist.

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