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3 - Boston: The First Century

Bruce H. Yenawine
Edited by
Michele R. Costello
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Summary

Boston's status as the birthplace of Benjamin Franklin and its first citation as beneficiary in the language of the codicil of his will makes the first one hundred years of the Franklin Trust there the beginning of the 200-year story of his bequest to the two cities. The history of the Boston based trust is informed by the social, political and economic trends from 1791 until 1891 with important contributions from the record keeping Franklin required of the trust as specified in the codicil and the recorded actions of its board of managers.

The first public acknowledgement of the bequest from Dr Franklin was recorded in the minutes of the Boston Town Meeting of 25 May 1790 when the town officially accepted the gift. Given his omnipresence in American colonial affairs and international prominence during the revolution, Franklin's remembrance flattered the townsmen. Seizing the opportunity for reciprocal tribute, the following laudatory expressions were sent on 1 June 1790 to Franklin's executors:

… The many useful designs projected by that great man, during A Long and Valuable Life. perhaps even more than his exalted Talents as A Patriot, Statesman and Philosopher, must endear his Memory To Americans, While they in A More Particular manner, reflect Honor upon the Town of Boston, which gave him Birth and Education–

Every Step to Carry into full Effect his Benevolent plan, will be Cheerfully Pursued by those Who he was Pleased to Constitute his Trustees, – And rising Generations will for ages. …

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Benjamin Franklin and the Invention of Microfinance , pp. 39 - 54
Publisher: Pickering & Chatto
First published in: 2014

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