would have been at least a
lesser Adam Smith. Mr. Wetzel, in _Benjamin Franklin as an Economist_,
offers a convenient summary of Franklin as an economist, some items
suggesting aspects of his views which, had space permitted, we should
have included in this study: "1. Money as coin may have a value higher
than its bullion value. 2. Natural interest is determined by the rent
of so much land as the money loaned will buy. 3. High wages are not
inconsistent with a large foreign trade. 4. Population will increase
as the means of gaining a living increase. 5. A high standard of
living serves to prolong single life, and thus acts as a check upon
the increase of population. 6. People are adjusted among the different
countries according to the comparative well-being of mankind. 7. The
value of an article is determined by the amount of labor necessary to
produce the food consumed in making the article. 8. While manufactures
are advantageous, only agriculture is truly productive. 9.
Manufactures will naturally spring up in a country as the country
becomes ripe for them. 10. Free trade with the world will give the
greatest return at the least expense. 11. Wherever practicable, State
revenue should be raised by direct taxes."
[i-248] _Writings_, II, 110.
[i-249] _Ibid._, II, 295. In 1736 Franklin wrote: "Faction, if not
timely suppressed, may overturn the balance, the palladium of liberty,
and crush us under its ruins" (cited in R. G. Gettell, _History of
American Political Thought_, 149).
[i-250] W. R. Shepherd, _History of Proprietary Government in
Pennsylvania_ (New York, 1896), 5.
[i-251] _Writings_, II, 351.
[i-253] _Ibid._, II, 352.
[i-254] _Ibid._, II, 347.
[i-255] Shepherd, _op. cit._, 222. In 1764 Penn thought that Franklin
was one "who may lose the government of a post office by grasping at
that of a province" (_ibid._, 564). In turn one of the proprietors
wrote to him: "Franklin is certainly destined to be our plague"
(_ibid._, 566). Penn professed not to fear "your mighty Goliath." For
proof that Franklin's fear expressed in _Plain Truth_ was not idle see
_Extracts from Chief Justice William Allen's Letter Book_, 17, 22-3,
[i-256] _Plain Truth_ inspirited the colonists to defend themselves,
even if it failed in its larger purpose; see _Writings_, II, 354, 362.
[i-257] To James Parker, March 20, 1750/51 (_Writings_, III, 40-5). L.
C. Wroth, in _An American Bookshelf_, 1755 (Philadelphia, 1934), 12
ff., reviews A. Kennedy's _The Importance of Gaining the Friendship of
the Indians to the British Interest_ (1751), to which was appended a
letter, prefiguring the Albany Plan of Union. This letter, Mr. Wroth
observes, was by Franklin. C.
Ancestry and Early Life in Boston 3 II.Page 8
Before the _Autobiography_ only one literary work of importance had been produced in this country--Cotton Mather's _Magnalia_, a church history of New England in a ponderous, stiff style.Page 14
This change in the calendar was made in 1582 by Pope Gregory XIII, and adopted in England in 1752.Page 21
But one does not dress for private company as for a publick ball.Page 48
For these letters I was appointed to call at different times, when they were to be ready; but a future time was still named.Page 50
On my expressing some concern about what I should do, he advised me to endeavour getting some employment in the way of my business.Page 56
Accordingly, she had given all her estate to charitable uses, reserving only twelve pounds a year to live on, and out of this sum she still gave a great deal in charity, living herself on water-gruel only, and using no fire but to boil it.Page 64
They were therefore, by turns, constantly with us, and generally he who attended, brought with him a friend or two for company.Page 73
 This part of Philadelphia is now the center of the wholesale business district.Page 90
But, on the whole, tho' I never arrived at the perfection I had been so ambitious.Page 106
I was one of those who were against any addition to our number, but, instead of it, made in writing a proposal, that every member separately should endeavour to form a subordinate club, with the same rules respecting queries, etc.Page 117
Indeed I had some cause to believe that the defense of the country was not disagreeable to any of them, provided they were not requir'd to assist in it.Page 147
 Governor of Massachusetts and commander of the British forces in America.Page 160
Ralph was still alive; that he was esteem'd one of the best political writers in England; had been employed in the dispute between Prince Frederic and the king, and had obtain'd a pension of three hundred a year; that his reputation was indeed small as a poet, Pope having damned his poetry in the _Dunciad_, but his prose was thought as good as any man's.Page 164
(See page 308).Page 166
While we stood there, the ship mended her pace, and soon left her neighbour far behind, which prov'd clearly what our captain suspected, that she was loaded too much by the head.Page 170
The proprietaries justify'd their conduct as well as they could, and I the Assembly's.Page 171
They then by his advice put the paper into the hands of the Attorney and Solicitor-General for their opinion and counsel upon it, where it lay unanswered a year wanting eight days, during which time I made frequent demands of an answer from the proprietaries, but without obtaining any other than that they had not yet received the opinion of the Attorney and Solicitor-General.Page 179
_ An appeal to enlist in the provincial army for the defense of Pennsylvania.