Thursday, January 26, 2012

Words From History 1/26/12

I just finished reading several selections from Benjamin Franklin's autobiography for my History class.  At the risk of omitting something even better, here are my favorite passages, in no particular order.

On reason: "So convenient a thing it is to be a reasonable creature, since it enables one to find or make a reason for everything one has a mind to do."

On pride and humility: "In reality, there is, perhaps, no one of our natural passions so hard to subdue as pride.  Disguise it, struggle with it, beat it down, stifle it, mortify it as much as one pleases, it is still alive, and will every now and then peep out and show itself; you will see it, perhaps, often in this history; for, even if I could conceive that I had compleatly overcome it, I should probably be proud of my humility."

On paper money in colonial Philadelphia: "About this time [1729] 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 job 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 afterwards to be much disputed; so that it grew soon to
fifty-five thousand pounds, and in 1739 to eighty thousand pounds, since which it arose during war to upwards of three hundred and fifty thousand pounds, trade, building, and inhabitants all the while
increasing, till I now think there are limits beyond which the quantity may be hurtful."

An English proverb: "He that would thrive, must ask his wife."

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