Having visited London several times in matters of trade, he determined to make that great city his place of residence. He had studied finance by experience as well as close observation, and believed that he could make money in the great metropolis. Having established himself as a banker at Wanford Court, he took simple lodgings, and lived without display. When Americans visited London, they called upon the genial, true-hearted banker, whose integrity they could always depend upon, and transacted their business with him.
In 1851, the World's Fair was opened at the Crystal Palace, London, Prince Albert having worked earnestly to make it a great success. Congress neglected to make the needed appropriations for America; and her people did not care, apparently, whether Powers' Greek Slave, Hoe's wonderful printing-press, or the McCormick Reaper were seen or not. But George Peabody cared for the honor of his nation, and gave fifteen thousand dollars to the American exhibitors, that they might make their display worthy of the great country which they were to represent. The same year, he gave his first Fourth of July dinner to leading Americans and Englishmen, headed by the Duke of Wellington. While he remembered and honored the day which freed us from England, no one did more than he to bind the two nations together by the great kindness of a great heart.
Mr. Peabody was no longer the poor grocery boy, or the dry-goods clerk. He was fine looking, most intelligent from his wide reading, a total abstainer from liquors and tobacco, honored at home and abroad, and very rich. Should he buy an immense estate, and live like a prince? Should he give parties and grand dinners, and have servants in livery? Oh, no! Mr. Peabody had acquired his wealth for a different purpose. He loved humanity. "How could he elevate the people?" was the one question of his life. He would not wait till his death, and let others spend his money; he would have the satisfaction of spending it himself.
And now began a life of benevolence which is one of the brightest in our history. Unmarried and childless, he made other wives and children happy by his boundless generosity. If the story be true, that he was once engaged to a beautiful American girl, who gave him up for a former poor lover, the world has been the gainer by her choice.