This July 4th is a milestone year! It’s our nation's 250th birthday. While you're out enjoying a BBQ with friends and family, here’s a fun story to tell everyone about our oldest Founding Father, Ben Franklin. When he died in 1790, he left the cities of Boston and Philadelphia with roughly 1,000 pounds each. For the first 100 years after his death, half of the proceeds were used to make low-interest loans to tradesmen. The rest had to remain for another 100 years. When the money came due 200 years after his death, Philadelphia had $2 million and Boston $5 million. "Remember that money is of a prolific generating nature. Money can beget money, and its offspring can beget more, and so on. Five shillings turned is six, turned again it is seven and three pence, and so on, till it becomes a hundred pounds. The more there is of it, the more it produces every turning, so that the profits rise quicker and quicker,” wrote Franklin in his 1748 essay "Advice to a Young Tradesman." Have a wonderful Fourth. |
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