I BENJAMIN FRANKLIN, in the foregoing or annexed last will and
testament, having further considered the same, do think proper to
make and publish the following codicil, in addition thereto.
It having long been a fixed and 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 president, 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 colleges, schools, building of churches, &c.; and in that will
I bequeathed two thousand pounds more to the state, for the purpose
of making the Schuylkil navigable; but understanding since, that such
a sum will do but little, towards accomplishing such a work, and that
project is not likely to be undertaken for many years to come--and
having entertained another idea, which I hope may be more extensively
useful, I do hereby revoke 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 any 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 making bequests that
do not appear to have any immediate relation 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 also under obligations to the state of Massachussets, for
having, unasked, appointed me formerly 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 considered that, among
artisans, good apprentices are most likely 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 two friends there, which was the foundation of
my fortune, 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 thousand pounds sterling, which I give,
one thousand thereof to the inhabitants of the town of Boston, in
Massachussets, and the other thousand to the inhabitants of the
city of Philadelphia, in trust, to and for the uses, intents, and
purposes, herein after mentioned and declared.
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 the select men, united with the ministers of the oldest
episcopalian, congregational, and presbyterian churches in that town,
who are to let out the same at five 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 their indentures, so as to obtain a good moral
character from at least two respectable citizens, who are willing to
become sureties in a bond, with the applicants, for the re-payment 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 manager
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 to 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 re-payment 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 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 other purposes,
but be continually augmenting by the interest, in which case, there
may in time be more than the occasion in Boston may 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 proportion of the
principal annually to the inhabitants of the town of Boston. If
this plan is executed, and succeeds, as projected, for one hundred
years, the sum will then be one hundred and thirty thousand 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 may be judged of most general utility to the
inhabitants; such as fortifications, 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 resorting thither for health, or a temporary residence. The
remaining thirty-one 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 millions and sixty-one thousand pounds sterling, of which I
leave one million and sixty-one thousand pounds to the disposition
and management of the inhabitants of the town of Boston, and the
three millions to the disposition of the government of the state--not
presuming to carry my views farther.
All the directions herein given respecting the disposition and
management of the donation to the inhabitants of Boston, I would
have observed respecting that to the inhabitants of Philadelphia;
only, as Philadelphia is incorporated, I request the corporation
of that city to undertake the management, agreeable to the said
directions: and I do hereby vest them with full and ample powers
for that purpose. And having considered that the covering its
ground-plat with buildings and pavements, which carry off most of
the rain, and prevent its soaking into the earth, and renewing and
purifying the springs, whence the water of the wells must gradually
grow worse, and in time be unfit for use, as I find has happened in
all old cities; I recommend, that, at the end of the first hundred
years, if not done before, the corporation of the city employ a part
of the hundred thousand pounds in bringing by pipes the water of
Wissahickon-creek into the town, so as to supply the inhabitants,
which I apprehend may be done without great difficulty, the level
of that creek being much above that of the city, and may be made
higher by a dam. I also recommend making the Schuylkil completely
navigable. At the end of the second hundred years, I would have
the disposition of the four millions and sixty-one thousand pounds
divided between the inhabitants of the city of Philadelphia and the
government of Pennsylvania, in the same manner as herein directed
with respect to that of the inhabitants of Boston and the government
of Massachusetts. It is my desire that this institution should
take place, and begin to operate within one year after my decease,
for which purpose due notice should be publicly given, previous
to the expiration of that year, that those for whose benefit this
establishment is intended may make their respective applications:
and I hereby direct my executors, the survivor or survivors of them,
within six months after my decease, to pay over the said sum of two
thousand pounds sterling to such persons as shall be duly appointed
by the select men of Boston, and the corporation of Philadelphia,
to receive and take charge of their respective sums of one thousand
pounds each, for the purposes aforesaid. Considering the accidents
to which all human affairs and projects are subject in such a
length of time, I have, perhaps, too much flattered myself with a
vain fancy, that these dispositions, if carried into execution, will
be continued without interruption, and have the effects proposed:
I hope, however, that if the inhabitants of the two cities should
not think fit to undertake the execution, they will at least accept
the offer of these donations, as a mark of my good will, token of
my gratitude, and testimony of my desire to be useful to them even
after my departure. I wish, indeed, that they may both undertake to
endeavour the execution of my project, because I think, that, though
unforeseen difficulties may arise, expedients will be found to remove
them, and the scheme be found practicable. If one of them accepts the
money with the conditions, and the other refuses, my will then is,
that both sums be given to the inhabitants of the city accepting;
the whole to be applied to the same purposes, and under the same
regulations directed for the separate parts; and, if both refuse, the
money remains of course in the mass of my estate, and it is to be
disposed of therewith, according to my will made the seventeenth day
of July, 1788.
My fine crab-tree walking-stick, with a gold head curiously wrought
in the form of the cap of Liberty, I give to my friend, and the
friend of mankind, General Washington. If it was a sceptre, he has
merited it, and would become it.