“ After serving as a volunteer at Fort Warburton, Maryland, in the War of 1812, he became partner with Elisha Riggs in a dry goods store at Georgetown, Riggs furnishing the capital, while Peabody was manager. Through his energy and skill the business increased with astounding rapidity, and on the retirement of Riggs about 1830 Peabody found himself at the head of one of the largest mercantile concerns in the world. ”