Memoirs of Benjamin Franklin; Written by Himself. [Vol. 1 of 2] With His Most Interesting Essays, Letters, and Miscellaneous Writings; Familiar, Moral, Political, Economical, and Philosophical, Selected with Care from All His Published Productions, and Comprising Whatever Is Most Entertaining and Valuable to the General Reader

By Benjamin Franklin

Page 178

willing to become their sureties in a bond, with the applicants,
for the repayment of the money so lent, with interest, according to the
terms hereinafter prescribed; all which bonds are to be taken for
Spanish milled dollars, or the value thereof in current gold coin: and
the managers shall keep a bound book or books, wherein shall be entered
the names of those who shall apply for and receive the benefit of this
institution, and of their sureties, together with the sums lent, the
dates, and other necessary and proper records respecting the business
and concerns of this institution: and as these loans are intended to
assist young married artificers in setting up their business, they are
to be proportioned by the discretion of the managers, so as not to
exceed sixty pounds sterling to one person, nor to be less than fifteen
pounds. And if the number of appliers so entitled should be so large as
that the sum will not suffice to afford to each as much as might
otherwise not be improper, the proportion to each shall be diminished,
so as to afford every one some assistance. These aids may, therefore, be
small at first; but as the capital increases by the accumulated
interest, they will be more ample. And in order to serve as many as
possible in their turn, as well as to make the repayment of the
principal borrowed more easy, each borrower shall be obliged to pay,
with the yearly interest, one tenth part of the principal; which sums of
principal and interest so paid in shall be again let out to fresh
borrowers. And as it is presumed that there will always be found in
Boston virtuous and benevolent citizens willing to bestow a part of
their time in doing good to the rising generation, by superintending and
managing this institution gratis, it is hoped that no part of the money
will at any time be dead or diverted to other purposes, but be
continually augmenting by the interest, in which case there may, in
time, be more than the occasion in Boston shall require: and then some
may be spared to the neighbouring or other towns in the said state of
Massachusetts, which may desire to have it, such towns engaging to pay
punctually the interest, and the proportions of the principal annually
to the inhabitants of the town of Boston. If this plan is executed, and
succeeds, as is projected, without interruption for one hundred years,
the sum will then be one hundred and thirty-one thousand pounds, of
which I would have the managers

Last Page Next Page

Text Comparison with A Book of Gems Choice selections from the writings of Benjamin Franklin

Page 0
Typographical errors have been silently corrected but other variations in spelling and punctuation remain unaltered.
Page 40
We will call no man _Reverend_.
Page 41
His office was different from that of school-teacher.
Page 43
It appears at times wonderful how many things can be taught, and correctly enough too, _about_ the Bible, and at the same time keep out of view entirely the _divine purpose_, the very _import_ and _intention_ of the wonderful book professedly taught.
Page 71
They did not understand him to make this fling at them, or they would soon have depleted his audience.
Page 103
They will throw the whole matter off by saying, “Let him make an effort and apply his energies, as I have to do, and he will have plenty.
Page 106
If the step is a mistaken one, it can never be retraced beyond this life.
Page 123
Here we must all turn our attention at last.
Page 125
” Here are two men after death, one _comforted_ and the other _tormented_.
Page 134
, etc.
Page 189
grand delusion, the mystery of iniquity that now works.
Page 201
we can consult them and learn the terms on which they will receive us; but when we act thus we must not deceive ourselves, and think we are becoming servants of the Lord in so doing.
Page 212
October 7th, we started for Lebanon, where we had an appointment at night.
Page 214
Page 238
art in me and I in thee, that they also may be one in us; that _the world may believe that thou hast sent me_.
Page 275
We have, in our own mind, long since repudiated pulpits entirely, as a useless, and worse than useless appendage.
Page 276
If the house is small, the platform should not be more than ten feet square and eight inches high.
Page 300
Page 303
That work is simply to restore his own pure religion to the people of this generation, and build up the church as it was at the beginning.
Page 309
The apostles and first ministers of Christ preached it to the salvation of thousands in a single day, and millions in a few years.