Peabody was born in Exeter, New Hampshire to Judge Oliver Peabody, graduated from Harvard College in 1816, and subsequently served as an assistant instructor at Phillips Exeter Academy in 1817.
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Peabody wrote several biographies for Sparks's Library of American Biography, namely, those of David Brainerd, Cotton Mather, James Oglethorpe, and Alexander Wilson.
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He contributed 48 articles to the North American Review, and wrote numerous sermons, poems, and prose pieces.
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