George Peabody donates $750,000 to his adopted home city of London for charitable use

George Peabody, the American financier who had made his home in London for many years, donated £150,000 (equal to $750,000 then and around $20 million at today's value) to found a trust to aid the poor of the city.  Just before he died in 1869, he raised this sum to £500,000.  The Trust was established by Parliament and began to concentrate on developing housing for the poor.  "Peabody" is now the oldest and largest charitable housing association in Britain, controlling almost 20,000 properties.  (By John Osborne)