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given large sums of it to Colleges, Schools, building of Churches, &c. and in that will I bequeathed two thousand pounds more to the state, for the purpose of making the Schuylkill navigable; but understanding since, that such a sum would do but little towards accomplishing such a work, and that the project is not likely to be undertaken for many years to come-and having entertained another idea, which I hope may be more extensively useful, I do hereby revoke and annul the bequest, and direct that the certificates I have for what remains due to me of that salary, be sold towards raising the sum of two thousand pounds sterling, to be disposed of as I am now about to order.
It has been an opinion, that he who receives an estate from his ancestors, is under some obligation to transmit the same to posterity. This obligation lies not on me, who never inherited a shilling from any ancestor or relation. I shall, however, if it is not diminished by some accident before my death, leave considerable estate among my descendants and relations. The above observation is made merely as some apology to my family, for my making bequests that do not appear to have any immediate relation to their advantage. • I was born in Boston, New England, and owe my first instructions in literature to the free grammar schools established there. I have therefore considered those schools in my will.
But I am also under obligations to the state of Massachusetts, for having, unasked, appointed me formerly their agent, with a handsome salary, which continued some years; and, although I accidentally lost in their service, by transmitting Governor Hutchinson's letters, much more than the amount of what they gave me, I do not think
that ought in the least to diminish my gratitude. I have considered that, among artisans, 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 in both these towns.
To this end I devote two thousand pounds sterling, which I give, one thousand thereof to the inhabitants of the town of Boston in Massachusetts, and the other thousand to the inhabi. tants of the city of Philadelphia, in trust, to and for the uses, intents, and purposes, hereinafter mentioned and declared.
The said sum of one thousand pounds sterling, if accepted by the inhabitants of the town of Boston, shall be managed under the direction of the select men, united with the ministers of the oldest Episcopalian, Congregational, and Presbyterian Churches in that town, who are to let out the same upon interest at five per cent. per annum, to such young married artificers, under the age of twenty-five years, as have served an apprenticeship in the said town, and faithfully fulfilled the duties requir in their indentures, so as to obtain a good moral character from at least two respectable citizens, who are willing to become sureties in a bond, with the applicants, for the repayment of the money so lent, with interest, according to the terms hereinafter prescribed; all which bonds are to be taken for Spanish milled dollars, or the value.
thereof in current gold coin: and the manager shall keep a bound book, or books, wherein shall be entered the names of those who shall apply for and receive the benefit of this institution, and of their sureties, together with the sums lent, the dates, and other necessary and proper records respecting the business and concerns of this institution; and as these loans are intended to assist young married artificers in setting up their business, they are to be proportioned by the discretion of the managers, so as not to ex. ceed sixty pounds sterling to one person, nor to be less than fifteen pounds.
And if the number of appliers so entitled should be so large as that the sum will not suffice to afford to every one some assistance, these aids may therefore be small at first, but as the capital increases by the accumulated interest, they will be more ample. And 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 shall be obliged to pay with the yearly interest one-tenth part of the principal; which sums of principal and interest so paid in, shall be again let out to fresh borrowers. And it is presumed, that there will be always found in Boston virtuous and benevolent citizens, willing to bestow a part of their time in doing good to the rising generation, by superintending and managing this institution gratis; it is hoped, that no part of the money will at any time lie dead, or be diverted to other purposes, but be continually augmenting by the interest, in which case there may in time be more than the occasion in Boston may require: and then some may be spared to the neighboring or other towns in the said state of Massachusetts, which may desire to have it, such towns engaging to pay punctually the interest, and the proportions of the principal annually to the inhabitants of the town of Boston. If this plan is executed, and succeeds, as projected, without interruption for one hundred years, the sum will be then one hundred and thirty-one thousand pounds; of which I would have the managers of the donation to the town of Boston then lay out, at their discretion, one hundred thousand pounds in public works, which may be judged of most general utility to the inhabitants; such as fortifications, bridges, aqueducts, public buildings, baths, pavements, or whatever may make living in the town more convenient to its people, and render it more agree. able to strangers resorting thither for health, or a temporary residence. The remaining thirtyone thousand pounds I would have continued to be let out to interest, in the manner above directed, for one hundred years; as I hope it will have been found, that the institution has had a good effect on the conduct of youth, and been of service to many worthy characters and useful citizens. At the end of this second term, if no unfortunate accident has prevented the opera. tion, the sum will be four millions and sixty-one thousand pounds sterling, of which I leave one million and sixty-one thousand pounds to the disposition and management of the inhabitants of the town of Boston, and the three millions to the disposition of the government of the state, not presuming to carry my views further.
All the directions herein given respecting the disposition and management of the donation to the inhabitants of Boston, I would have observed respecting that to the inhabitants of Philadelphia, only as Philadelphia is incorporated, I request the Corporation of that city to undertake the management, agreeably to the said directions: and I do hereby vest them with full and ample powers for that purpose. And having considered that the covering its ground plat with buildings and pavements, which carry off most rain, and prevent its soaking into the earth, and renewing and purifying the springs, whence the water of the wells must gradually grow worse, and in time
unt for use, as I find has happened in all old cities; I recommend, that, at the end of the first hundred years, if not done before, the Corporation of the city employ a part of the hundred thousand pounds in bringing by pipes the water of Wissahickon creek into the town, so as to supply the inhabitants; which I apprehend may be done without great difficulty, the level of that creek being much above that of the city, and may be made higher by a dam. I also recommend making the Schuylkill completely navigable. At the end of the second hundred years, I would have the disposition of the four millions and sixty-one thousand pounds divided between the inhabitants of the city of Philadelphia and the government of Pennsylvania, in the same manner as herein directed with respect to that of the inhabitants of Boston and the government of Massachusetts. It is my desire that this institution should take place, and begin to operate within one year after my decease; for which purpose due notice should be publicly given, previous to the expiration of that year, that those for whose benefit this establishment is in. tended may make their respective applications: and I hereby direct my executors, the survivors and survivor of them, within six months after my decease, to pay over the said sum of two thousand pounds sterling to such persons as shall be duly appointed by the select men of Boston, and the Corporation of Philadelphia, and to receive