Philanthropy
In August 1837, Angela Burdett-Coutts inherited the fortune of her grandfather, Thomas Coutts, estimated at £1.8m. She devoted herself to philanthropy, conceiving the idea of Urania Cottage—a hostel where female petty criminals and former prostitutes could be trained in useful skills—with her friend Charles Dickens. In August 1847, the Duke of Wellington wrote her a warning:
“I have heard of the manner in which you dispose of your money, and indeed... I am astonished that you should have any left! You, like me, are supposed to be made of gold, and everybody supposes that it is only necessary to touch you to partake of the prize. I find that the parent of generosity is economy. Indeed it is impossible to be generous without it... Form no large establishments or engagements; in the position in which you are placed they will only embarrass you...”