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.
Mr. Peabody quickly took a prominent rank among the merchants of Baltimore. His manner was frank and engaging, and won him many friends. He was noted for "a judgment quick and cautious, clear and