He had invested some of his savings in houses and land in Philadelphia,
and the thousand pounds (five thousand dollars) which he was to receive
for eighteen years was a very good income in those times, and more than
equivalent to ten thousand dollars at the present day. He moved from the
bustle of Market Street and his home in the old printing, stationery,
and grocery house, and is supposed to have taken a house at the
southeast corner of Second and Race Streets. This was at the northern
edge of the town, close to the river, where in the summer evenings he
renewed his youthful fondness for swimming.
It must be confessed that very few self-made men, conducting a
profitable business with the prospect of steady accumulation of money,
have willingly resigned it in the prime of life, under the influence of
such sentiments as appear to have moved him. But that intense and
absolute devotion to business which is the prevailing mood of our times
had not then begun in America, and it was rather the fashion to retire.
The years which followed his retirement, and before he became absorbed
in political affairs, seem to have had for him a great deal of ideal
happiness. He lived like a man of taste and a scholar accustomed to
cultured surroundings more than like a self-made man who had battled for
forty years with the material world. In writing to his mother, he
said,--
“I read a great deal, ride a little, do a little business for
myself, now and then for others, retire when I can, and go into
company when I please; so the years roll round, and the last
will come, when I would rather have it said, He lived usefully
than He died rich.”
After his withdrawal from business he remained postmaster of
Philadelphia, and in 1753, after he had held that office for sixteen
years, he was appointed Postmaster-General of all the colonies, with
William Hunter, of Virginia, as his colleague, and he retained this
position until dismissed from it by the British government in 1774, on
the eve of the Revolution. There was some salary attached to these
offices, that of Postmaster-General yielding three hundred pounds. The
postmastership of Philadelphia entailed no difficult duties at that
time, and his wife assisted him; but when he was made Postmaster-General
he more than earned his salary during the first few years by making
extensive journeys through the colonies to reform the system. The salary
attached to the office was not to be allowed unless the office produced
it; and during the first four years the unpaid salary of Franklin and
his colleague amounted to nine hundred and fifty pounds. He procured
faster post-riders, increased the number of mails between important
places, made a charge for carrying newspapers, had all newspapers
carried by the riders, and reduced some of the rates of postage.
Public-domain text, read in full here on John Shaqi.
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