Benjamin Franklin and the Invention of Microfinance (Financial History) (by Bruce H. Yenawine)


Author(s): Bruce H. Yenawine

Publisher: Pickering & Chatto Ltd
Publish date: 2010-06-30
ISBN-10: 1848930348
ISBN-13: 9781848930346
Language: English
Description: In life, Benjamin Franklin sought to manage debt, organize credit,
build capital and promote virtue. After death, he continued this
work by leaving a codicil to his last will and testament,
bequeathing GBP2,000 to Boston and Philadelphia and to the
commonwealths of Massachusetts and Pennsylvania with explicit
instructions on how they should utilize the money over the course
of the following two hundred years. Franklin intended that the
money be used to provide loans to young married artisans to enable
them to start small businesses and thereby promote a higher
standard of living and a strong moral community. Although the
managers put in charge of… more…

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