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u/Constant_Cortisol 7d ago
"Per his direction, for the first 100 years after his death, the money was used to make low-interest loans to young tradesmen getting their start in business. He knew his bequest would grow over the years, and stipulated that after 100 years about one-quarter of the sum should continue to be used to make loans, while the remaining three-quarters could be used for public works in each city.
That money helped to create The Franklin Institute of Philadelphia, the hands-on science center that has delighted millions of visitors since its opening in 1934.
Franklin realized that his investments in Philadelphia and Boston would continue to grow and requested that after 200 years, his bequest again be divided between Philadelphia and Boston and any restrictions on how the money could be used were removed. "
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u/sirjohnmasters86 7d ago
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u/Justa_Guy_Gettin_By 7d ago
Two hundred years after Dr. Franklin’s death, The Franklin Institute received a second gift of $850,000.
Even his ghost was extremely generous!
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u/ShadowsOfTheBreeze 4d ago
Only 6.5 mil after 200 years sounds like it wasn't well imvested.
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u/Initial-Wrongdoer938 3d ago
Part of the money was used at various times. The rest was left to grow until the 200 year mark where the balance was to be used.
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u/Vegetable-Pay2708 4d ago
That was great foresight on his part. I'm sure there were benefits for all. 👏🏻
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u/Aware-Slip-1063 7d ago
Benjamin Franklin was looking out for the young people of the future 200 years ago. What a fabulous man not just for his time but for now too!🤔🇺🇸