Last Thursday, Betsie and I went to a book fair, sponsored by the local city library. At first, we were a bit dissapointed because the selection was a lot smaller than it's been in the past. But I did find a book that has proven to be very interesting. It's "The Life and Letters of Benjamin Franklin."

I don't usually read books like that, but as I stood there in the store, I started perusing the contents and noticed it contained President Franklin's Will, which immediately caught my attention. I bought the book and brought it home and have been reading it (very slowly) the past few days.

The Will itself is very interesting, and much could be learned of his life and beliefs just by reading this one document. What is most amazing is the foresight Ben Franklin had even in his Last Will and Testament.

Originally, the will set aside 2,000 pounds sterling to "to be employed for making the river Schuylkill navigable." However, he later ammended this request in a codicil stating:

But understanding since that such a work, and that the project is not likely to be undertaken for many years to come, and having entertained another idea, that I hope may be more extensively useful...

And his idea was, indeed a great deal more useful.

His plan was to donate 1,000 pounds sterling to Philadelphia and Boston each to be placed into an interest bearing account and loaned out to young men, who had already served as an apprentice, to help them start their own businesses. He had the foresight to realize if the program continued successfully, that eventually this account would develop into a nice amount of money. In fact, he estimated that at the end of one hundred years, there would be 131,000 pounds sterling in each account. Of that sum, he requested 100,000 be given to each city to be used to improve the city and the remaining 31,000 pounds put back into the accounts to continue the scholarship program for another hundred years. And at that time, now two hundred years after his death, he gave 1.61 million pounds to the city and the remaining 3 million to the state to do with as they please.

All this aroused my curiosity and I Googled "Boston Benjamin Franklin scholarship" and found out his plan worked! From CNN.com:

"Ben Frankin's dollars fund modern scholars"

It was not uncommon in Franklin's day for the well-to-do to leave large charitable bequests, and Franklin's was nowhere near the largest in Philadelphia's history. What was uncommon, Alviti said, was the way the bequest was structured, with very specific requirements at first, then an openness to new ideas over time.

Amazing. Talk about looking ahead...