|
"Ben Franklin"
Benjamin Franklin, Autobiography: Page 56
of 154
two long letters, containing the best account that had been given of that
country, the climate, the soil, husbandry, etc., for in those matters he was
very judicious. I printed them in the papers, and they gave great satisfaction
to the publick.
As soon as he was gone, I recurr'd to my two friends; and because I would not
give an unkind preference to either, I took half of what each had offered and I
wanted of one, and half of the other; paid off the company's debts, and went on
with the business in my own name, advertising that the partnership was
dissolved. I think this was in or about the year 1729.
About this time there was a cry among the people for more paper money, only
fifteen thousand pounds being extant in the province, and that soon to be sunk.
The wealthy inhabitants oppos'd any addition, being against all paper currency,
from an apprehension that it would depreciate, as it had done in New England, to
the prejudice of all creditors. We had discuss'd this point in our Junto, where
I was on the side of an addition, being persuaded that the first small sum
struck in 1723 had done much good by increasing the trade, employment, and
number of inhabitants in the province, since I now saw all the old houses
inhabited, and many new ones building; whereas I remembered well, that when I
first walk'd about the streets of Philadelphia, eating my roll, I saw most of
the houses in Walnut-street, between Second and Front streets, with bills on
their doors, "To be let"; and many likewise in Chestnut-street and other
streets, which made me then think the inhabitants of the city were deserting it
one after another.
Our debates possess'd me so fully of the subject, that I wrote and printed an
anonymous pamphlet on it, entitled "The Nature and Necessity of a Paper
Currency." It was well receiv'd by the common people in general; but the rich
men dislik'd it, for it increas'd and strengthen'd the clamor for more money,
and they happening to have no writers among them that were able to answer it,
their opposition slacken'd, and the point was carried by a majority in the
House. My friends there, who conceiv'd I had been of some service, thought fit
to reward me by employing me in printing the money; a very profitable jobb and a
great help to me. This was another advantage gain'd by my being able to write.
The utility of this currency became by time and experience so evident as never
|