In 1856, George Peabody, an American banker and philanthropist, donated funds for a library for Danvers, Massachusetts. The original library was housed in the Town Hall until land was acquired on land that is today known as Peabody Park. In 1866, Peabody deeded the town additional funds for a purpose-built library building, similar to that of Peabody, Massachusetts (which separated from Danvers in 1855). A Gothic style library was built on this site from plans by architect Gridley J. F. Bryantwith the purpose for the promotion of knowledge and morality in the Town of Danvers. On July 2, 1890, a massive fire destroyed the Danvers library, but many of the collections and volumes were saved by townspeople. Through insurance funds and additional money by trustees, it was decided to rebuild the library on the same site, retaining the architectural firm of Little & Browne, (whose chief draftsman, Lester S. Couch, was a Danvers resident) to design the new building. The present Georgian/Classical Revival structure was completed in 1892 and is one of the finest library buildings in New England.