Ben’s Bet

n 1790, with death near, Benjamin Franklin put money on America’s workers. In a tacit rebuke to, explains those undertakings. Each city received £1,000—today, $136,000—to be managed by volunteers. The funds’ managers were to disburse small loans to workers wishing to start businesses, as Franklin had. Repayments were to go for “public works, which may be judged of most general utility to the inhabitants.” The arrangements took a while to gel and each city handled its bequest differently, but two major institutions emerged from the projects. Boston, with money from Franklin fund admirer Andrew Carnegie, established the Franklin Union school, whose students learn trades. Philadelphia built the Franklin Science Museum.