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pital; hoping that these debtors, and the descente dants of such as are deceased, whọ now, as I find, make some difficulty of satisfying such antiquated demands as just debts, may however be induced to pay or give them as charity to that excellent insti. tution. I am sensible that much must inevitably be lost; but I hope something considerable may be recovered. It is possible too that some of the par. ties charged may have existing old unsettled accounts against me ; in which case the managers of the said hospital will allow and deduct the amount, and pay the balance, if they find it against me.
I request my friends Henry Hill, Esq. John Jay, Esq. Francis Hopkinson, Esq. and Mr. Edward Duffield, of Bonfield, in Philadelphia county, to be the executors of this my last will and testament, and I hereby nominate and appoint ihem for that purpose.
I would have my body buried with as little exo. pence or ceremony as may be.
Philadelphia, July 17, 1788.
. CODICIL. I, BENJAMIN Franklin, in the foregoing or an. nexed last will and testament, having further considered the same, do think proper to make and pube, .. lish the following codicil, or addition thereto: .
It having long been a fixed political opinion of mine, that in a democratical state there ought to be no offices of profit, for the reasons I had given in an article of my drawing in our constitution, it was my intention, when I accepted the office of presi.. dent, to devote the appointed salary to some public. use : Accordingly I had already, before I made my last will, in July last, given large sums of it to coke.
leges, schools, building of churches, &c. and in that will I bequeathed two thousand pounds more to the state, for the purpose of making the Schuylkill navigable ; but understanding since, that such a sum will do but little towards accomplishing such 1 a work, and that project is not likely to be undertaken for many years to come and having enter. tained another idea, which I hope may be found more extensively useful, I do hereby repoke and annul the bequest and direct that the certificates I have of what remains due to me of that salary, be sold towards raising the sum of two thousand pounds sterling, to be disposed of as I am now about to order.
It has been an opinion, that he who receives an estate from his ancestors, is under some obligation to transmit the same to posterity. This obligation lies not on me, who never inherited a shilling from an ancestor or relation. I shall, however, if it is not diminished by some accident before my death, leave a considerable estate among my descendants and relations. The above observation is made merely as some apology to my family, for my mak. ing bequests that do not appear to have any immediate relations to their advantage.
I was born in Boston, New-England, and owe my first instructions in literature to the free grammar schools established there. I have therefore considered those schools in my will:
But I am under obligations to the state of Massachusetts, for having, unasked, appointed me for'merly their agent, with a handsome salary, which continued some years; and although I accidentally lost in their service, by transmitting governor Hutchinson's letters, much more than the amount of what they gave me, I do not think that ought in
the least to diminish my gratitude. I have conside ered that, among artisans, good apprentices are most apt to make good citizens; and having myself been bred to a manual art, printing, in my native town, and afterwards assisted to set up my business. in Philadelphia by kind loans of money from twofri nds there, which was the foundation of my for. tuny, and of all the utility in life that may be ascribed to me,I wish to be useful even after my death, if possible, in forming and advancing other . young men, that may be serviceable to their country in both these towns.
To this end I devote two thrusand pounds sterling, which I give one thousand thereof to the inhabitants of the town of Boston, in M ssachusetts, and the other thousand to the inhabitants of the cia, ty of Philadelphia, in trost, to and for the uses, intents, and purposes, herein afler mentioned and de. clared.
The said sum of one thousand pounds sterling, if accepted by the inhabitants of the town of Boston, shall be managed under the direction of select men, united with the ministers of th« oldest episcopalian, congregational, and presbyterian churches in that town, who are to let out the saine upon interest at fixe per cent. per annum, to such young married artificers, under the age of twenty-five years, as have served an apprenticeship in the said town, and faithfully fulfilled the duties required in :heir in. deatures, so as to obtain a good moral character, from at least two respectable citizens, who are will. ing to become sureties in a bond with the app'in ! cants, for the repayment of the money so lent, with interest, according to the terms herein after pre- .
scribed; all which bonds are to be taken for Span, ish milled dollars, or the value thereof in currtut
gold coin: and the manager shall keep a bound book, or books, wherein shall be entered the names of those who shall apply for, and receive the bene. fit 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 in, tended to assist young married artificers in setting up their business, they are to be proportioned b;' discretion of the managers, so as not to exceed sixty pounds sterling to one person, nor less than fifteen pounds.
And if the number of appliers so entitled should be so large as that the sum will not suffer to afford to each as much as might otherwise not be improper, the proportion to each shall be diminished, so as to afford to every one some assistance. These aids may therefore be small at first, but as the capi. tal increases by 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 ihe principal; which sums of principal and interest so paid shall be again lent out to fresh borrowers. ' And it is presumed, that there will be always 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 lie dead, or be diverted to otuer 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 neighboring or other towns in the
said state of Massachusetts, which may desire to have it, such towns engaging to pay punctually the interest, and such proportions of the principal annu. ally to the inhabitants of the town of Boston. If this plan is executed, and succeeds, as projected, without interruption, for one hundred years, the sum will be then one hundred and thirty-one thou. sand pounds; of which I would have the managers of the donation to the town of Boston then lay out, at their discretion, one hundred thousand pounds in public works, which inay be judged of most general utility to the inhabitants; such as fortfications, bridges, aqueducts, public buildings, baths, pavements, or whatever may make living in the town more convenient to its people, and render it more agreeable to strangers resortin: thither for health, or a temporary residence. The remaining thirtyone thousand pounds I would have continued to be let out to interest, in the manner above directed, for one hundred years; as I hope it will have been found that the institution has had a good effect on the conduct of youth, and been of service to many worthy characters and useful citizens. At the end of this second term, if no unfortunate accident has prevented the operation,, the sum will be four mil. lions and sixty-one thousand pounds sterling; of which I leave one million and sixty-one thousand po,inds to the disposition, and management of the i. i, tants of the town of Boston, and the three m !ions to the disposition of the government of the stites; not presuming to carry my views any farther. :
All the directions herein given respecting the disposition and management of the donation to the inhabitants of Bosion, I would have observed res. pecting that to the inhabitants of Philadelphia ; only,