was good for any amount, and in any part of the world, Mr. Peabody laid his hand on Mr. Reed’s shoulder, and said to those present, ’My friends, here is my first patron; and he is the man who sold me my first bill of goods.’  After he was established in Georgetown, D.C., the first consignment made to him was by the late Francis Todd, of Newburyport.  It was from these facts that Newburyport was always pleasant in his memory; and the donation he made to the Public Library was on his own suggestion, that he desired to do something of a public nature for our town.”

From New England, George Peabody turned his face southward, and entered the employment of his uncle, Mr. John Peabody, who was engaged in the dry goods business in Georgetown, in the District of Columbia.  He reached that place in the spring of 1812; but, as the second war with England broke out about the same time, was not able to give his immediate attention to business.  He became a member of a volunteer company of artillery, which was stationed at Fort Warburton, but as no active duty was required of the company, he soon went back to his uncle’s store.  His uncle was a poor man and a bad manager, and for two years the business was conducted by George Peabody, and in his own name; but at the end of that time, seeing the business threatened with ruin by his uncle’s incapacity, he resigned his situation, and entered the service of Mr. Elisha Riggs, who had just established a wholesale dry goods house in Georgetown.  Mr. Riggs furnished the capital for the concern, and Mr. Peabody was given the management of it.  Soon after this, the latter became a partner in the house.  It is said that when Mr. Riggs invited Mr. Peabody to become his partner, the latter informed him that he could not legally assume the responsibilities of the business, as he was only nineteen years old.  This was no objection in the mind of the merchant, as he wanted a young and active assistant, and had discerned in his boy-manager the qualities which never fail to win success.

The new business in which he was engaged consisted chiefly in the importation and sale of European goods, and consignments of dry goods from the northern cities.  It extended over a wide field, and gave Mr. Peabody a fine opportunity for the display of his abilities.  Mr. Riggs’ friends blamed him very much for leaving his business so entirely in the hands of a boy of nineteen; but he had better proof than they that his affairs were not only in good but in the best hands, and he answered them all by telling them that time would justify his course.  Mr. Peabody traveled extensively in establishing his business, often journeying into the wild and unsettled regions of the border States on horseback.  He worked with energy and intelligence, and in 1815 the business was found to be so extensive that a removal to Baltimore became necessary.  About this time a sort of irregular banking business was added to the operations of the house.  This was chiefly the suggestion of Mr. Peabody, and proved a source of great profit.