Peabody Education Fund

The main purpose of the fund was to aid elementary education by strengthening existing schools.

[1] The gift of foundation consisted of securities to the value of $2,100,000, of which $1,100,000 were in Mississippi State bonds, afterward repudiated.

[2] "The fund introduced a new type of benefaction in that it was left without restriction in the hands of the trustees to administer.

Power to close the trust after thirty years was provided on condition that two-thirds of the fund be distributed to educational institutions in the Southern states.

It was maintained in connection with the University of Nashville and supported by annual donations from the Peabody Education Fund.