Benjamin Franklin; Self-Revealed, Volume 2 (of 2): A Biographical and Critical Study Based Mainly on his own WritingsBruce, Wiliam Cabell
History
Benjamin Franklin; Self-Revealed, Volume 2 (of 2): A Biographical and Critical Study Based Mainly on his own Writings
Bruce, Wiliam Cabell
Franklin, Benjamin, 1706-1790
For his public services in France, he was allowed at first a salary of five
hundred pounds a year and his expenses, and subsequently, when his rank was
advanced to that of ambassador, two thousand five hundred pounds a year.
When he returned from France to America, he communicated to his old friend,
Charles Thomson, the Secretary of Congress, his hope that Congress might be
kind enough to recognize the value of his services and sacrifices in the
American cause by granting him some small tract of land in the West. He
saw, he said, that Congress had made a handsome allowance to Arthur Lee for
his services to America in England before his appointment as Commissioner
to France, though it had made none to the writer or to Mr. Bollan, who were
also parties to these services. Moreover, Lee, on his return to America, as
well as John Jay, had been rewarded by Congress with a good office. The
letter, of course, made out an irrefragable case; for, if the United States
had given the whole Northwest Territory to Franklin, his heirs and assigns
forever, the gift would hardly have exceeded the value of his services. It
was written just before the Old Congress gave way to the First Congress
under the Federal Constitution, and nothing ever came of it. The conduct of
the Old Congress to Franklin in other respects had been so ungenerous that
it is hardly likely that it would have made any response to the appeal
anyhow unless solicited by a more intriguing spirit than his.
The State of Georgia was more mindful of its obligations to him, and voted
him the right to take up three thousand acres of land within its limits.
After his return from France, a great rise took place in the value of real
estate in Philadelphia, and his houses and lots reaped its benefits to a
conspicuous degree. On Jan. 29, 1786, he wrote to Ferdinand Grand, "My own
Estate I find more than tripled in Value since the Revolution"; and similar
statements are to be found in other letters of his at this time.
At this period of his life, a considerable amount of his attention was
given to the improvement of his property. On Apr. 22, 1787, in a letter to
Ferdinand Grand, he said, "The three Houses which I began to build last
year, are nearly finished, and I am now about to begin two others. Building
is an Old Man's Amusement. The Advantage is for his Posterity."
When Franklin died, his estate consisted of ten houses in Philadelphia, and
almost as many vacant lots, a pasture lot near Philadelphia, a farm near
Burlington, New Jersey, a house in Boston, the right to the three thousand
acres of land in Georgia, a tract of land on the Ohio, a tract of land in
Nova Scotia, twelve shares of the capital stock of the Bank of North
America and bonds of individuals in excess of eighteen thousand pounds. The
value of his entire estate was supposed to be between two hundred and two
hundred and fifty thousand dollars.
Public-domain text, read in full here on John Shaqi.
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