On leaving Keimer's, Franklin went into partnership with one of his
fellow-workmen, Hugh Meredith, whose father found the necessary
capital, and a printing-office was started which soon excelled its two
rivals in Philadelphia. Franklin's industry attracted the attention of
the townsfolk, and inspired the merchants with confidence in the
prospects of the new concern. Keimer started a newspaper, which he had
not the ability to carry on; Franklin purchased it from him for a
trifle, remodelled it, and continued it in a very spirited manner
under the title of the _Pennsylvania Gazette_. His political articles
soon attracted the attention of the principal men of the state; the
number of subscribers increased rapidly, and the paper became a source
of considerable profit. Soon after, the printing for the House of
Representatives came into the hands of the firm. Meredith never took
to the business, and was seldom sober, and at length was bought out by
his partner, on July 14, 1730. The discussion in the Junto on paper
currency induced Franklin to publish a paper entitled "The Nature and
Necessity of a Paper Currency." This was a prominent subject before
the House, but the introduction of paper money was opposed by the
capitalists. They were unable, however, to answer Franklin's
arguments; the point was carried in the House, and Franklin was
employed to print the money. The amount of paper money in Pennsylvania
in 1739 amounted to L80,000; during the war it rose to more than
L350,000.
"In order to secure my credit and character as a tradesman, I took
care not only to be in _reality_ industrious and frugal, but to avoid
all appearances to the contrary. I drest plainly; I was seen at no
places of idle diversion. I never went out a-fishing or shooting; a
book, indeed, sometimes debauch'd me from my work, but that was
seldom, snug, and gave no scandal; and, to show that I was not above
my business, I sometimes brought home the paper I purchas'd at the
stores thro' the streets on a wheelbarrow. Thus being esteem'd an
industrious, thriving young man, and paying duly for what I bought,
the merchants who imported stationery solicited my custom; others
proposed supplying me with books, and I went on swimmingly. In the
mean time, Keimer's credit and business declining daily, he was at
last forc'd to sell his printing-house to satisfy his creditors."
Public-domain text, read in full here on John Shaqi.
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