The benefactions of George Peabody roused _Punch's_ interest from the very first. In 1862 and 1863 his pages abound in questions as to what was being done with the Peabody Fund. But in 1864 the first block of "Peabody dwellings" was opened in Spitalfields, soon followed by others in Chelsea, Bermondsey, Islington and Shadwell; and in 1866, on learning that Mr. Peabody had increased his gift to the London poor from £150,000 to a quarter of a million, _Punch_ was ashamed at the lack of public recognition of his generosity. The letter from a "London correspondent" is more than an expression of gratitude--it is a valuable contribution to the study of Victorian sociology. MR. PEABODY'S GIFT. "I will confess to you that I indulged myself with the thought that it would be a graceful conclusion to the reference sure to be made to American affairs in the Queen's speech, if a few words of cordial recognition were devoted to the munificence of this great American citizen. Of course, I was immediately ashamed of myself for thinking such a thing possible; and I hope you will overlook the ignorance of etiquette, routine and precedent--the shadowy creatures that hold us back when we are yearning to obey some noble impulse--betrayed by such a disordered fancy. When I read the Speech, all feelings of disappointment about Mr. Peabody evaporated, for I found that from the beginning to the end of the Royal oration there was not a line to commemorate the name and the fame of the Great Minister [Lord Palmerston] lying so near in the sacred silence of the Abbey. The shadowy creatures were again appalled by my audacious expectation, and held out menacingly a noose of ruddy tape.