Franklin's Legacy. Dr. Franklin left one thousand pounds sterling to the corporation of the city, for the purpose of loaning "to such young married artificers, under the age of twenty-five years, as have served an apprenticeship in the city, and faithfully fulfilled the duties required in their indentures." Two sureties are required to sign a bond, with the applicant, for the repayment of the money; the sums are to be proportioned by the discretion of the managers; but none are to exceed £60, nor to be less than £15 to each applicant. In order to serve as many as possible in their turn, as well as to make the repayment of the principal borrowed, more easy, each borrower is required to pay, with the yearly interest, one tenth part of the principal, which sum of principal and interest, shall be again lent out to fresh borrowers. The interest is to be at the rate of five per cent. that is, one per cent. lower than the interest as established by law. The corporation of the city were intrusted with the fund, and requested to undertake the management of it; and agreeably to the desire of the donor, it has been regularly loaned, and, at the present time, has increased to more than double the original sum. The following is the last statement of this fund, by the city treasurer. Amount of interest at five per cent on obli gations, on 31st December, 1810, $9,063 00 Balance in the treasury, 483 80 ་་ The principle that actuated the benevolent deviser of the legacy was certainly highly praiseworthy, viz. the "assistance of young married artificers in setting up their business ;" and originated from what occurred to himself. "I have considered," he remarks," that among artizans, good apprentices are most likely to make good citizens, and having myself been bred to a manual art, printing, in my native town, and afterwards assisted to set up my business in Philadelphia, by kind loans of money from two friends there, which was the foundation of my fortune, and of all the utility in life, that may be ascribed to me: I wish to be useful even after my death, if possible, in forming and advancing other young men, that may be serviceable to their country." At the end of one hundred years, if not done before, one hundred thousand pounds of the capital is to be employed in bringing the waters of the Wissahickon creek into the town, so as to supply the inhabitants. He also recommends making the Schuylkill completely navigable. At the end of the second hundred years, four millions, sixty-one thousand pounds are to be divided between the inhabitants of the city of Philadelphia, and the government of Pennsylvania. Two thousand pounds were left by Dr. Franklin to the town of Boston, his native place, for purposes similar to the above. Private Provision for the Poor. In p. 292, is given an account of the public provision for the support of the poor of the city and county, who are incapable of earning their living, by reason of age, or chronic disability, or who are sick and unable to pay for medical relief; there is also relief of other natures provided for them, owing to the bounty of individuals. 1." The Fund for supplying the Necessitous Poor of the City of Philadelphia with Fuel," consists of the following species of stock, viz. One thousand nine hundred and thirty-two dollars eighty-eight cents of 3 per cent. stock of the United States. This stock was purchased by the proceeds of a performance in horsemanship, at the Old Circus, by the late Mr. Ricketts. Four shares of stock of the bank of Pennsylvania. This stock is a part of the proceeds of the old free masons lodge, in Lodge Alley, on part of the lot nów occupied by the bank of Pennsylvania, and was sold under an act of the legislature of Pennsylvania, of 6th September, 1785.* Fifty shares of water loan. Twenty-seven of said shares were produced by a legacy of one thousand pounds, given by the late John Bleakley, esq. by his will, dated 19th April, 1802, to the corporation of the city of Philadelphia, as a fund to procure fuel during the winter season, &c. and the remaining Twenty-three shares were produced by the sum of two thousand two hundred and seventy-eight dollars fifty-nine cents, being the residuary legacy of Elizabeth Kearkpatrick, which she bequeathed to the said corporation for the benefit of the poor. The annual proceeds of said stock is as follows, viz. $57 96 128 300 $485 96 C The above is distributed amongst the poor of the city, in wood. 2. "The Fund, to relieve those who may be reduced to the necessity of being placed in the City Hospital, during the existence of the Yellow Fever, consists of the following stock, viz. Twenty seven shares of water loan were produced by a legacy of one thousand pounds, which the late John Bleakley, esq. by his will, dated 19th April, 1802, gave to the corporation of the city of Philadelphia, to establish a fund under the above name. During the yellow fevers of 1803 and 1805, the interest on the above stock was paid over to the board of health. The city having, providentially, had no visitation of the yellow fever since 1805, the interest which accrued on the above stock was, in the beginning of 1811, directed by the councils to be invested in stock; and it procured eight shares of water loan. So that said fund now consists of thirty-five shares of water loan, giving an annual interest of two hundred and ten dollars. Among the distinguished benefactors of Philadelphia, the late JOHN KEBLE stands conspicuous, he having left a very large sum in the hands of the episcopal ministers of Philadelphia, to be distributed to pious and charitable purposes, according to their judgment. Mr. Keble was indebted to the charity of the "Blue Coat Hospital of London," for his education.. He arrived in this country very young, and was for a long series of years a clerk in the land office of Pennsylvania. This situation furnished him with the opportunity of acquiring land upon advantageous terms, and of selling again to a profit to the large speculators, at the time when the land mania prevailed. His expenses being Lut small, and his in dustry unceasing, he accumulated a very large fortune. By his marriage he acquired some property, which he by will bequeathed among his wife's relations. The residue of his estate, except some trifling legacies, he left to the trustees before-mentioned. The distribution was as follows: To the contributors of the Pennsylvania To the Magdalen Society, To the Welsh Society, To the Humane Society, To the Society for the Relief of Poor and aged Members of the German Lutheran Congregation in the City of Philadelphia, &c. To the Pennsylvania Society for the abolition of Slavery, &c. To the Philadelphia Society for the Establishment and Support of Charity Schools, To the Hibernian Society for the Relief To the Society for the Institution and $20,800 To the Scots Thistle Society, 2,198 3,349 17 7,413 83 To the Philadelphia French Benevolent 15,057 63 704 64 $103,114 11 |