At tlie opening; of tlie eigliteonth century lie had taken nink as the leading merchant of the city in point of wealth, trusted by all as a man of honesty and honor. His death, in 1737, seemed indeed an nntimely event. The sense of loss was universal, expressed by the jjatherinK at his grave -- a procession of eleven hundred pei-sons, representatives of the whole people. His pro|»- erty was ' willed ' to his nephew Peter, who, at eijrhteen years of a*je, had left his native town, New KochcUc, and sojoxirmed for a short period in Rhode Island, wiiither he had accompanied his father, Benjamin. Proceeding thence to Boston, he entered into the service of his Vncle .\ndrew. and soon won the confidence and the love that issued in liis appv>intnient as his uncle's executor and residuary legatee. His career was brief but brilliant. Though he liveil only five yi'ai-s after his uncle's decease, he rendered that small fraction of life a tine historical episode in the municipal reconl of liistime.

" In tlie year 1740 the people were divided into two parties, nearly eipial in numbers, by the di8cus.sion of a proposal to meet a public need -- the erection of a central market-house. The opponents of the enterprise were persistent, though the grounds of their action are not clearly discernible. In this state of the public mind Peter Faneuil came forward and offered to erect the building at his own cost, ' to be improved for a market for the sole uses, benefit and advantage of the town, provided that the town of Boston would pass a vote for that purpose, and lay the s<»ine under such proper regulations as shall be thought necessary, and constantly support it for sjiid use.'