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And whereas, said George Peabody, deeming it
advisable to perpetuate by a more formal instru-
ment, than said letter first above recited, his views
and purposes in relation to said Institute, by deed
dated the fourth day of March, eighteen hundred
and fifty-seven, and recorded among the Charter
Records of the city of Baltimore, in Liber E. D.,
No. 3, folio 186, &c., did expressly ratify and
confirm in all things said letter, and all and sin-
gular the statements therein contained, and did
make said letter a part of said deed, and did de-
clare and provide, that the persons named in said
letter, with the exception of William Prescott
Smith Esq., who declined to accept the trust by
said letter created, their associates and successors
should hold the moneys in said letter designated
to have been given, as the same might by them
he received, and any further sums which he, the
said Peabody, might appropriate in trust for the
erection, endowment and perpetual maintenance
in the city of Baltimore, of an institute of the
character in said letter designated, and to be held,
owned and managed by them, in the manner and
pursuant to the directions therein set forth; And
whereas, in addition to, but not in derogation of
said directions, the said Peabody, by said deed
further declared, that if from any cause whatever,
of which said trustees, their associates and succes-
sors, should be the exclusive judges, there should
he a failure on the part of the Maryland Histori-
cal Society, to undertake or prosecute the func-
tions which he the said Peabody had indicated in
his said letter, as thereafter to be confided to it,
then and in that event, and unless they should see
fit to assume those functions themselves, the said
Peabody declared it to be the duty of his said
trustees, their associates and successors, and they
are thereby authorised to select some other agency,
competent in their judgment to carry out his views
in the premises; And 'whereas, the said Peabody,
by said deed further declared and directed, that
his said trustees, if they should think fit, should
be and they are thereby fully empowered, to pro-
cure themselves, their associates and successors,
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Preamble con-
tinued.
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