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Ben Franklin (chp. 57-70)

Chapter 57 (Founding the University of Pennsylvania)

y ³Proposals relating to the education of youth in Pennsylvania´- pamphlet

y Donating yearly for 5 yrs.= 5,000 pounds

y Circulated the proposal under the guise of ³some public-spirited gentlemen´ (because he didn¶t want to present

himself as the creator of a scheme for the benefit of the public)

y Ben got elected as a trustee and used his position on that board to help the college.

~Poor Richard Once said, ³Being ignorant is not so much a shame, as being unwilling to learn.´~

Chapter 58 (Retiring from My Business)

y Retired from daily printing business but remained owner and benefited from the profits this went on for 18 years

until he sold the business to his partner David Hall.

y Study of electricity

y Bens son, William took Bens place as clerk when he moved to join the assembly

-held his position on assembly for 10 yrs.

~Poor Richard once said, ³industry, perseverance, & frugality, make fortune yield.´ ~

Part III (The Legacy of an Entrepreneur)

Chapter 59 (The Power of Contingent Contracts)

y Use disagreement as the basis of a contract

y Dr. Thomas Bond wanted to start a hospital

y Prepare the minds of the people before starting fundraising

y Contingency clause: if voluntary contributions for the hospital reached or exceeded 2,000 pounds and the project

put in place a governing board the Assembly would match these funds with another 2,000 pounds.

-assembly $: building cost

-volunteer $: poor get care for free

~Poor Richard once said, ³Be neither silly, nor cunning, but wise.´ ~

Chapter 60 (Good Advice for Fundraising)

y Dr. Robert Cialdini notes, ³Influence is best exerted horizontally rather than vertically´

y Reverend Gilbert Tennent wanted Ben¶s help in fundraising for a new meeting house. (Ben said NO)

y Bens advice:

1. Ask $ from those you know will give

2. Go to those who u r uncertain about and show them the list of people who have already donated3. Ask those you never thought would give

~ Poor Richard once said, ³Great-Alms- Giving, lessens no man¶s living.´ ~

Chapter 61 (Negotiating Peace with the American Indians)

y Iroquois League of 6 Nations

y 1753- crown decreed the colonies should renegotiate peace treaties with American Indians

y Assembly nominated Ben & Mr. Norris (speaker of the house)

-went to Carlisle to meet with the natives

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y American Indians not allowed to drink until treaty is made

y Indian elder: ³The great spirit, who created all, made everything on the earth for some use. And a thing should

always be put to use in accordance with its created purposes. Now when He made rum He said, µLet this be for

the American Indians to get drunk with,¶ and so this is why we drink rum as we do.´

~Poor Richard once said, ³Be at war with your vices, at peace with your neighbors, and let every new-year find

you a better man.´ ~

Chapter 62 (It¶s the Little Things)

y Mr. John Cliftion had the idea of lighting the city

y Ben redesigned the London lamp so the smoke could escape

y Human happiness is not so much a result of lucky events that rarely come our way. Rather, happiness is more

often a result of the little advantages that accumulate every day.

~Poor Richard once said, ³what is serving God? µTis doing good to man?´~

Chapter 63 (The Reluctant Revolutionary)

y 1753 Ben received a joint appointment along with Mr. William Hunter to the position of postmaster-general for

all the British colonies in America.

y Britain expected the American postal service to send them 600 pounds every year. (even though they never made

a profit)

y Profit of 3,000 pounds per year, when Ben left they started losing money again

y Yale & Harvard presented Ben the degree of Master of Arts

y Ben drew up a plan for the unification of all the colonies under 1 gov.

y Bens plan chosen by the assembly

-rejected

-colonial assemblies: gave crown too much power

-crown: was too democratic

y Rulers are often so overwhelmed with the pressures of government that they rarely take time to consider new

ideas- even good ones. When it comes to power and politics, convenience often trumps intelligence.

~Poor Richard once said, ³ Necessity never made a good bargain.´~

Chapter 64 (How to Get Off to a Bad Start)

y About Governor Morris. ³He has 1000 little tricks to provoke and irritate the people, but none to gain their

goodwill, esteem, or confidence.´

y Franklin¶s last public act was for the abolition of slavery

y Mr. Robert Morris -loves political disputes

-was a good natured man who never allowed personal differences to spoil a friendship

y Sancho Panza, when asked to govern, requested a government of blacks so if he could not agree with his subjects

he could sell them instead. ~Poor Richard once said, ³avoid dishonest gain: no price can recompense the pangs of vice.´~

Chapter 65 (Death and Taxes)

y Search hard for the 3rd ways when stuck in dilemmas

y Governor Morris¶s successor is Captain Denny

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y Governor Morris refused to sign the bill unless it included an amendment exempting the Penn family¶s vast land

holdings from any tax levied for the purpose of defense.

y Way of raising $ without needing the approval of the governor (Loan Office issue bonds redeemable in 1 year at a

5 percent interest rate)

~Poor Richard once said, ³The creditors are a superstitious sect, great observers of set days and times.´~

Chapter 66 (How to Gain Cooperation)

y General Braddock

y William, who now had some experience as a soldier in the Kings service, went with Ben.

y Fredericktown, Maryland

y Only got 25 wagon (needed 150)

y Ben why don¶t you solve this problem for us? (ok but I¶m going to need to write it down)

y Some among the generals council proposed sending soldiers immediately into Landcaster, York, and Cumberland

counties to seize as many good wagons and horses as necessary for military purposes.

y Sir John St. Clair: the quartermaster

y Ben was given 800 pounds for paying advances (had to use 200 pounds of his own money)

y Post a bond guaranteeing payment in case of loss

~Poor Richard once said, ³if you¶d have it done, Go: if not, send.´~

Chapter 67 (How to Get Off to a Great Start)

y Assembly sent 20 individual packages

y Ben used 1,000 pounds of his own $

~Poor Richard once said, ³Gifts burst rocks.´~

Chapter 68 (Guarding Against Overconfidence)

y Ben refused to help with firework celebration

~Poor Richard once said, ³Tis easy to see, hard to foresee.´~

Chapter 69 (Sizing Up the British)

y Never assume the market leader in any business situation is invulnerable

y Fort Duquesne

y Ben said, I would watch out for American Indian ambushes

y American Indians let Braddock continue to build his confidence until he was within 9 miles of Fort Duquesne

y 2/3¶s of the troops dead

y Dunbar chose to run for cover to the nearest settlementy When the French came in 1781 to help with the revolution their behavior was quite commendable

~Poor Richard once said, ³Haste makes waste.´~

Chapter 70 (Calling in Debts, Old and New)

y Captain Orme told Ben the general was dead

y Braddock¶s last words: :We shall better know how to deal with them next time.´

y Ben wanted Braddock¶s solders to stop enlisting their indentured servants and discharge those that had already

been enlisted.

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y General Shirley, former governor of Massachusetts Bay Colony stood by the promise of his predecessor. The

claims totaled nearly 20,000 pounds.

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