Tag: History

  • What is Bookkeeping? Meaning and Definition!

    What is Bookkeeping? Meaning and Definition!

    Bookkeeping; The activity or occupation of keeping records of the financial affairs of a business. Book Keeper is the recording of financial transactions and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by a person or an organization or corporation. There are several standard methods of book-keeping. Such as the single-entry bookkeeping system and the double-entry bookkeeping system but, while they may be thought of as “real” book-keeping, any process that involves the recording of financial transactions is a bookkeeping process. Also learn, “The Language of Business” called Accounting, but Why?

    Learn, What is Bookkeeping? Meaning and Definition!

    It is usually performing by a bookkeeper. A bookkeeper (or book-keeper) is a person who records the day-to-day financial transactions of a business. They are usually responsible for writing the daybooks. Which contain records of purchases, sales, receipts, and payments.

    The bookkeeper is responsible for ensuring that all transactions whether it is a cash transaction or credit transaction are records in the correct daybook, supplier’s ledger, customer ledger, and general ledger; an accountant can then create reports from the information concerning the recording of the financial transactions by the bookkeeper.

    It refers mainly to the record-keeping aspects of accounting. They involve preparing source documents for all transactions, operations, and other events of the business. The bookkeeper brings the books to the trial balance stage: an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.

    History of Bookkeeping.

    The origin of book-keeping is lost in obscurity, but recent researches would appear to show that some method of keeping accounts has existed from the remotest times. Babylonian records have been finding dating back as far as 2600 B.C., written with a stylus on small slabs of clay.

    The term “waste book” was used in colonial America referring to book-keeping. The purpose was to document daily transactions including receipts and expenditures. This was recorded in chronological order, and the purpose was for temporary use only.

    The daily transactions would then record in a daybook or account ledger in order to balance the accounts. The name “waste book” comes from the fact that once the waste book’s data were transfers to the actual journal, the waste book could discard

    Meaning of Bookkeeping.

    Since the principles of accounting rely on accurate and thorough records, book-keeping is the foundation of accounting. Bookkeepers often have to exercise analytical skills and judgment calls. When recording business events since the source for most accounting information in the system.

    Book-keeping involves the recording, daily, of a company’s financial transactions. With proper bookkeeping, companies can track all information on their books to make key operating, investing, and financing decisions. Bookkeepers are individuals who manage all financial data for companies. Without bookkeepers, companies would not be aware of their current financial position, as well as the transactions that occur within the company.

    Accurate bookkeeping is also crucial to external users. Which include investors, financial institutions, or the government that needs access to reliable information to make a better investment or lending decisions. Simply put, the entire economy relies on accurate and reliable book-keeping for both internal and external users.

    Definition of Bookkeeping.

    Bookkeeping, often called record-keeping, is the part of accounting that records transactions and business events in the form of journal entries in the accounting system. In other words, book-keeping is how data is entering into an accounting system. This can either be done manually on a physical ledger pad or electronically in an accounting program like Quickbooks.

    “Systematic recording of financial aspects of business transactions in appropriate books of account”.

    Understand Bookkeeping for Example.

    A good example of a business event that requires analytical skills is the trade-in of a vehicle. The bookkeeper must review the transaction and determine how much the old vehicle trade-in value was and the price paid for the new vehicle. He or she must also find out whether any loans require for the new purchase and how much cash was paid for the transfer. Also read, Types of Accounting in a Business.

    As you can see, bookkeepers generally must have a good understanding of accounting principles and GAAP in general. Once the business event has been evaluating, the bookkeeper makes a journal entry in the general ledger to remove the old vehicle and associate accumulate depreciation and record. The purchase of the new vehicle with any applicable gains or losses on the transition.

    The entire process of analyzing an event and recording the transaction in the accounting system is a good example of bookkeeping. Many times accounting and book-keeping are using interchangeably, but this is incorrect. Accounting has a much more broad definition than simply recording transactions in an accounting system.

    Accounting is using to identify events that need to record, recording the transactions of these events, and communicating. The effects of these transactions with people inside and outside of the company. As you can see, it is only a small part of the broader definition of accounting.

    Importance of Bookkeeping.

    Proper book-keeping gives companies a reliable measure of their performance. It also provides information on general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical.

    Many small companies don’t actually hire full-time accountants to work for them because the costs are usually higher. Instead, small companies generally hire a bookkeeper or outsource the job to a professional firm. One important thing to note here is that many people who intend to start a new business sometimes overlook it. The importance of trivial matters such as keeping records of every penny spent.

    What is Bookkeeping Meaning and Definition - ilearnlot
    What is Bookkeeping? Meaning and Definition!

    Reference

    1. What is it? History – //en.wikipedia.org/wiki/Bookkeeping
    2. Meaning, Importance – //www.myaccountingcourse.com/accounting-dictionary/bookkeeping
    3. Definition, Example – //corporatefinanceinstitute.com/resources/knowledge/accounting/bookkeeping/
    4. Photo Credit URL – //www.apatax.ca/wp-content/uploads/2017/11/accounting-and-bookkeeping-firm-surrey.jpg

  • Why Some Succeed While Others Fail

    Why Some Succeed While Others Fail

    Why Some Succeed While Others Fail


    Short Story by Benjamin Franklin

    Possibly there never has lived a man who has excited more comment than has the subject of this narrative, who was born in Boston, January 17th, 1706. His father was a soap boiler and tallow chandler, and he was the fifteenth in a family of seventeen children.

    Young Benjamin was expected by his parents to become a minister of the Gospel, and for this purpose was placed in school at the age of eight, but the reduced circumstances of his father compelled his return home two years later, and he began the work of cutting wicks in his father’s establishment. Afterward, he was bound to his brother James, who was a printer, where he worked hard all day and often spent half the night in reading.

    This biography of Benjamin Franklin was written by H.A. Lewis in his book, Hidden Treasures: Why Some Succeed While Others Fail (1887). Interesting fact: “In 1776 Congress sent him to France, where he became one of the greatest diplomats this country has ever known. During his voyage over he made observations relative to the Gulf Stream, and the chart he drew of it nearly one hundred (over 230) years ago, still forms the basis of maps on the subject.”

    The secret of his great success can be readily perceived, when we know that his favorite books were Mather’s “Essays to Do Good,” and DeFoe’s “Essays of Projects,” and many others of a like nature: instead of the modern “Three Fingered Jack,” “Calamity Jane,” “The Queen of the Plains,” or the more ‘refined’ of to-day’s juvenile reading.

    When he was about sixteen he wrote, in a disguised hand, an article for his brother’s paper. This article was published anonymously and excited great curiosity. Other articles followed, at length, the identity of the author was discovered, and for some unknown reason, the elder brother was offended. From that hour Benjamin resolved to leave Boston, as his brother’s influence was used to his disadvantage in that city.

    Embarking, he worked his passage to New York, where he arrived at the age of seventeen, almost penniless, and without recommendations. Failing to obtain work here he continued on to Philadelphia, where he arrived, disappointed but not discouraged. He now had but one dollar, and a few copper coins, in the world. Being hungry, he bought some bread, and with one roll under either arm, and eating the third, he passed up the street on which his destined wife lived, and she beheld him as he presented this ridiculous appearance. Obtaining employment, he secured board and lodging with Mr. Reed, afterward his father-in-law.

    Being induced to think of going into business for himself, through promises of financial help from influential parties, he sailed to London for the purpose of buying the necessary requisites for a printing office. Not until his arrival in that great city, London, did he learn of the groundlessness of his hope for aid from the expected quarter. In a strange land, friendless and alone, without money to pay his return passage, such was his predicament; yet he lost not his courage, but obtained employment as a printer, writing his betrothed that he should likely never return to America. His stay in London lasted, however, but about eighteen months, during which time he succeeded in reforming some of his beer-drinking companions.

    In 1826 he returned to America as a dry-goods clerk, but the death of his employer, fortunately, turned his attention once more to his especial calling, and he soon after formed a partnership with a Mr. Meredith. This was in 1728. Miss Reed, during his stay abroad, had been induced to marry another man who proved to be a scoundrel; leaving her to escape punishment for debt, and, it is alleged, with an indictment for bigamy hanging over his head. Franklin attributed much of this misfortune to himself and resolved to repair the injury so far as lay within his power. Accordingly, he married her in 1830. This proved a most happy union. His business connection with Mr. Meridith being dissolved, he purchased the miserably conducted sheet of Mr. Keimer, his former employer, and under Franklin’s management, it became a somewhat influential journal of opinion.

    It was through this channel that those homely sayings, with such rich meanings, first appeared in print. His great intelligence, industry, and ingenuity in devising reforms, and the establishment of the first circulating library, soon won for him the esteem of the entire country. 1732 is memorable as the year in which appeared his almanac in which was published the sayings of the world-famous ‘Poor Richard.’ This almanac abounded with aphorisms and quaint sayings, the influence of which tended mightily to economy, and it was translated into foreign languages, in fact was the most popular almanac ever printed.

    After ten years’ absence he returned to his native city, Boston, and his noble instincts were shown, as he consolingly promised his dying brother that he would care for his nephew, his brother’s son. Returning to Philadelphia he became postmaster of that city, established a fire department, becomes a member of the Assembly, to which office he is elected ten consecutive years.

    Although he was not an orator, no man wielded more influence over the legislative department than did Franklin. As is well-known, he invented the celebrated Franklin Stove, which proved so economical, and for which he refused a patent. For years he entertained the theory that galvanic electricity, and that which produced lightning and thunder were identical; but it was not until 1752 that he demonstrated the truth by an original but ingenious contrivance attached to a kite, and to Franklin we owe the honor of inventing the lightning rod, but not its abuse which has caused such widespread animosity to that valuable instrument of self-preservation.

    These discoveries made the name of Franklin respected throughout the scientific world. Forever after this period, during his life, he was connected with national affairs. At one time he was offered a commission as General in the Provincial Army, but distrusting his military qualifications he unequivocally declined. Sir Humphrey Davy said: “Franklin seeks rather to make philosophy a useful inmate and servant in the common habitations of man, than to preserve her merely as an object for admiration in temples and palaces.” While it is said of him by some that he always had a keen eye to his own interests all are forced to add he ever had a benevolent concern for the public welfare.

    The burdens bearing so heavily upon the colonies: Pennsylvania, Maryland, Georgia, and Massachusetts, appointed Franklin as their agent to the mother-country. Arriving in London in 1757, despite his mission, honors awaited him at every turn. There he associated with the greatest men of his time, and the universities of Edinburgh and Oxford honored him with the title of L.L.D. and the poor journeyman printer of a few years before, associated with princes and kings. At the end of five years he returned to America, and in 1762 received the official thanks of the Assembly. Two years later he was again sent to England, and he opposed the obnoxious stamp act, and where he carried himself with decorum and great ability before the entire nobility. Upon his return to America he was made a member of the Assembly the day he landed, where he exerted his whole influence for a Declaration of Independence, and soon after had the pleasure of signing such a document.

    In 1776 Congress sent him to France, where he became one of the greatest diplomats this country has ever known. During his voyage over he made observations relative to the Gulf Stream, and the chart he drew of it nearly one hundred years ago, still forms the basis of maps on the subject. As is well known, to Franklin more than all others, are we indebted for the kindly interference by France in our behalf, whose efforts, though ineffective in the field, helped the revolutionary cause wonderfully in gaining prestige. At the close of the war Franklin was one of the commissioners in framing that treaty which recognized American independence. His simple winning ways won for him admiration in any court of embroidery and lace, while his world-wide reputation as a philosopher and statesman won for him a circle of acquaintances of the most varied character. On the 17th of April, 1790, this great statesman died, and fully 20,000 people followed him to the tomb. The inscription he had designed read:

    “The body of Benjamin Franklin, printer; Like the cover of an old book— Its contents torn out, and script of its lettering and gilding: Lies here food for worms.”

    Yet the work itself shall not be lost. For it will, as he believed, appear once more, in a new and more beautiful edition, corrected and amended by the Author. Truly, America has been rich in great men, of which Franklin was not the least. Dr. Franklin, in his will, left his native town of Boston, the sum of one thousand pounds, to be lent to the young married artificers upon good security and under odd conditions. If the plan should be carried out as successfully as he expected, he reckoned that this sum would amount in one hundred years to one hundred and thirty-one thousand pounds. It was his wish, and so expressed in his will that one hundred thousand pounds should be spent upon public works, “which may then be judged of most general utility to the inhabitants; such as fortifications, bridges, aqueducts, public buildings, baths, pavements, or whatever makes living in the town more convenient to its people, and renders it more agreeable to strangers resorting thither for health or temporary residence.” It was also his wish that the remaining thirty-one thousand pounds should again be put upon interest for another hundred years, at the end of which time the whole amount was to be divided between the city and the State. The bequest at the end of the first one hundred years may not attain the exact figure he calculated, but it is sure to be a large sum. At the present time it is more than one hundred and seventy-five thousand dollars, and it has many years yet to run.

    Why Some Succeed While Others Fail


  • Benjamin Franklin

    Benjamin Franklin

    Benjamin Franklin


    Short Story by Nathaniel Hawthorne

    “He is Born 1706 and Died 1790.” In the year 1716, or about that period, a boy used to be seen in the streets of Boston, who was known among his schoolfellows and playmates by the name of Ben Franklin. Ben was born in 1706; so that he was now about ten years old. His father, who had come over from England, was a soap-boiler and tallow-chandler, and resided in Milk Street, not far from the old South Church.

    Ben was a bright boy at his book, and even a brighter one when at play with his comrades. He had some remarkable qualities which always seemed to give him the lead, whether at sport or in more serious matters. I might tell you a number of amusing anecdotes about him. You are acquainted, I suppose, with his famous story of the WHISTLE, and how he bought it with a whole pocketful of coppers, and afterwards repented of his bargain. But Ben had grown a great boy since those days, and had gained wisdom by experience; for it was one of his peculiarities, that no incident ever happened to him without teaching him some valuable lesson. Thus he generally profited more by his misfortunes, than many people do by the most favorable events that could befall them.

    Ben’s face was already pretty well known to the inhabitants of Boston. The selectmen, and other people of note, often used to visit his father, for the sake of talking about the affairs of the town or province. Mr. Franklin was considered a person of great wisdom and integrity, and was respected by all who knew him, although he supported his family by the humble trade of boiling soap, and making tallow-candles.

    While his father and the visitors were holding deep consultations about public affairs, little Ben would sit on his stool in a corner, listening with the greatest interest, as if he understood every word. Indeed, his features were so full of intelligence, that there could be but little doubt, not only that he understood what was said, but that he could have expressed some very sagacious opinions out of his own mind. But, in those days, boys were expected to be silent in the presence of their elders. However, Ben Franklin was looked upon as a very promising lad, who would talk and act wisely by and by.

    “Neighbor Franklin,” his father’s friends would sometimes say, “you ought to send this boy to college and make a minister of him.”

    “I have often thought of it,” his father would reply; “and my brother Benjamin promises to give him a great many volumes of manuscript sermons in case he should be educated for the church. But I have a large family to support, and cannot afford the expense.”

    In fact, Mr. Franklin found it so difficult to provide bread for his family, that, when the boy was ten years old, it became necessary to take him from school. Ben was then employed in cutting candlewicks into equal lengths, and filling the moulds with tallow; and many families in Boston spent their evenings by the light of the candles which he had helped to make. Thus, you see, in his early days, as well as in his manhood his labors contributed to throw light upon dark matters.

    Busy as his life now was, Ben still found time to keep company with his former schoolfellows. He and the other boys were very fond of fishing, and spent any of their leisure hours on the margin of the mill-pond, catching flounders, perch, eels, and tom-cod, which came up thither with the tide. The place where they fished is now, probably, covered with stone-pavements and brick buildings, and thronged with people, and with vehicles of all kinds. But, at that period, it was a marshy spot on the outskirts of the town, where gulls flitted and screamed overhead, and salt meadow-grass grew under foot. On the edge of the water there was a deep bed of clay, in which the boys were forced to stand, while they caught their fish. Here they dabbled in mud and mire like a flock of ducks.

    “This is very uncomfortable,” said Ben Franklin one day to his comrades, while they were standing mid-leg deep in the quagmire.

    “So it is,” said the other boys. “What a pity we have no better place to stand!”

    If it had not been for Ben, nothing more would have been done or said about the matter. But it was not in his nature to be sensible of an inconvenience, without using his best efforts to find a remedy. So, as he and his comrades were returning from the water-side, Ben suddenly threw down his string of fish with a very determined air:

    “Boys,” cried he, “I have thought of a scheme, which will be greatly for our benefit, and for the public benefit!”

    It was queer enough, to be sure, to hear this little chap—this rosy-cheeked, ten-year-old boy—talking about schemes for the public benefit! Nevertheless, his companions were ready to listen, being assured that Ben’s scheme, whatever it was, would be well worth their attention. They remembered how sagaciously he had conducted all their enterprises, ever since he had been old enough to wear small-clothes.

    They remembered, too, his wonderful contrivance of sailing across the mill-pond by lying flat on his back, in the water, and allowing himself to be drawn along by a paper-kite. If Ben could do that, he might certainly do any thing.

    “What is your scheme, Ben?—what is it?” cried they all.

    It so happened that they had now come to a spot of ground where a new house was to be built. Scattered round about lay a great many large stones, which were to be used for the cellar and foundation. Ben mounted upon the highest of these stones, so that he might speak with the more authority.

    “You know, lads,” said he, “what a plague it is, to be forced to stand in the quagmire yonder—over shoes and stockings (if we wear any) in mud and water. See! I am bedaubed to the knees of my small-clothes, and you are all in the same pickle. Unless we can find some remedy for this evil, our fishing-business must be entirely given up. And, surely, this would be a terrible misfortune!”

    “That it would!—that it would!” said his comrades, sorrowfully.

    “Now I propose,” continued Master Benjamin, “that we build a wharf, for the purpose of carrying on our fisheries. You see these stones. The workmen mean to use them for the underpinning of a house; but that would be for only one man’s advantage. My plan is to take these same stones, and carry them to the edge of the water and build a wharf with them. This will not only enable us to carry on the fishing business with comfort, and to better advantage, but it will likewise be a great convenience to boats passing up and down the stream. Thus, instead of one man, fifty, or a hundred, or a thousand, besides ourselves, may be benefited by these stones. What say you, lads?—shall we build the wharf?”

    Ben’s proposal was received with one of those uproarious shouts, wherewith boys usually express their delight at whatever completely suits their views. Nobody thought of questioning the right and justice of building a wharf, with stones that belonged to another person.

    “Hurrah, hurrah!” shouted they. “Let’s set about it!”

    It was agreed that they should all be on the spot, that evening, and commence their grand public enterprise by moonlight. Accordingly, at the appointed time, the whole gang of youthful laborers assembled, and eagerly began to remove the stones. They had not calculated how much toil would be requisite, in this important part of their undertaking. The very first stone which they laid hold of, proved so heavy, that it almost seemed to be fastened to the ground. Nothing but Ben Franklin’s cheerful and resolute spirit could have induced them to persevere.

    Ben, as might be expected, was the soul of the enterprise. By his mechanical genius, he contrived methods to lighten the labor of transporting the stones; so that one boy, under his directions, would perform as much as half a dozen, if left to themselves. Whenever their spirits flagged, he had some joke ready, which seemed to renew their strength by setting them all into a roar of laughter. And when, after an hour or two of hard work, the stones were transported to the water-side, Ben Franklin was the engineer, to superintend the construction of the wharf.

    The boys, like a colony of ants, performed a great deal of labor by their multitude, though the individual strength of each could have accomplished but little. Finally, just as the moon sank below the horizon, the great work was finished.

    “Now, boys,” cried Ben, “let’s give three cheers, and go home to bed. To-morrow, we may catch fish at our ease!” “Hurrah! hurrah! hurrah!” shouted his comrades.

    Then they all went home, in such an ecstasy of delight that they could hardly get a wink of sleep.

    The story was not yet finished; but George’s impatience caused him to interrupt it.

    “How I wish that I could have helped to build that wharf!” exclaimed he. “It must have been glorious fun. Ben Franklin for ever, say I!”

    “It was a very pretty piece of work,” said Mr. Temple. “But wait till you hear the end of the story.”

    “Father,” inquired Edward, “whereabouts in Boston was the mill-pond, on which Ben built his wharf?”

    “I do not exactly know,” answered Mr. Temple; “but I suppose it to have been on the northern verge of the town, in the vicinity of what are now called Merrimack and Charlestown streets. That thronged portion of the city was once a marsh. Some of it, in fact, was covered with water.”

    [As the children had no more questions to ask, Mr. Temple proceeded to relate what consequences ensued from the building of Ben Franklin’s wharf.]

    In the morning, when the early sunbeams were gleaming on the steeples and roofs of the town, and gilding the water that surrounded it, the masons came, rubbing their eyes, to begin their work at the foundation of the new house. But, on reaching the spot, they rubbed their eyes so much the harder. What had become of their heap of stones!

    “Why, Sam,” said one to another, in great perplexity, “here’s been some witchcraft at work, while we were asleep. The stones must have flown away through the air!”

    “More likely they have been stolen!” answered Sam.

    “But who on earth would think of stealing a heap of stones?” cried a third. “Could a man carry them away in his pocket?”

    The master-mason, who was a gruff kind of man, stood scratching his head, and said nothing, at first. But, looking carefully on the ground, he discerned innumerable tracks of little feet, some with shoes, and some barefoot. Following these tracks with his eye, he saw that they formed a beaten path towards the water-side.

    “Ah, I see what the mischief is,” said he, nodding his head. “Those little rascals, the boys! they have stolen our stones to build a wharf with!”

    The masons immediately went to examine the new structure. And to say the truth, it was well worth looking at, so neatly, and with such admirable skill, had it been planned and finished. The stones were put together so securely, that there was no danger of their being loosened by the tide, however swiftly it might sweep along. There was a broad and safe platform to stand upon, whence the little fishermen might cast their lines into deep water, and draw up fish in abundance. Indeed, it almost seemed as if Ben and his comrades might be forgiven for taking the stones, because they had done their job in such a workmanlike manner.

    “The chaps, that built this wharf, understood their business pretty well,” said one of the masons. “I should not be ashamed of such a piece of work myself.”

    But the master-mason did not seem to enjoy the joke. He was one of those unreasonable people, who care a great deal more for their own rights and privileges, than for the convenience of all the rest of the world.

    “Sam,” said he, more gruffly than usual, “go call a constable.”

    So Sam called a constable, and inquiries were set on foot to discover the perpetrators of the theft. In the course of the day, warrants were issued, with the signature of a Justice of the Peace, to take the bodies of Benjamin Franklin and other evil-disposed persons, who had stolen a heap of stones. If the owner of the stolen property had not been more merciful than the master-mason, it might have gone hard with our friend Benjamin and his fellow-laborers. But, luckily for them, the gentleman had a respect for Ben’s father, and moreover, was amused with the spirit of the whole affair. He therefore let the culprits off pretty easily.

    But, when the constables were dismissed, the poor boys had to go through another trial, and receive sentence, and suffer execution too, from their own fathers. Many a rod I grieve to say, was worn to the stump, on that unlucky night.

    As for Ben, he was less afraid of a whipping than of his father’s disapprobation. Mr. Franklin, as I have mentioned before, was a sagacious man, and also an inflexibly upright one. He had read much, for a person in his rank of life, and had pondered upon the ways of the world, until he had gained more wisdom than a whole library of books could have taught him. Ben had a greater reverence for his father, than for any other person in the world, as well on account of his spotless integrity, as of his practical sense and deep views of things.

    Consequently, after being released from the clutches of the law, Ben came into his father’s presence, with no small perturbation of mind.

    “Benjamin, come hither,” began Mr. Franklin, in his customary solemn and weighty tone.

    The boy approached, and stood before his father’s chair, waiting reverently to hear what judgment this good man would pass upon his late offence. He felt that now the right and wrong of the whole matter would be made to appear.

    “Benjamin,” said his father, “what could induce you to take property which did not belong to you?”

    “Why, father,” replied Ben, hanging his head, at first, but then lifting his eyes to Mr. Franklin’s face, “if it had been merely for my own benefit, I never should have dreamed of it. But I knew that the wharf would be a public convenience. If the owner of the stones should build a house with them, nobody will enjoy any advantage except himself. Now, I made use of them in a way that was for the advantage of many persons. I thought it right to aim at doing good to the greatest number.”

    “My son,” said Mr. Franklin, solemnly, “so far as it was in your power, you have done a greater harm to the public, than to the owner of the stones.”

    “How can that be, father?” asked Ben.

    “Because,” answered his father, “in building your wharf with stolen materials, you have committed a moral wrong. There is no more terrible mistake, than to violate what is eternally right, for the sake of a seeming expediency. Those who act upon such a principle, do the utmost in their power to destroy all that is good in the world.”

    “Heaven forbid!” said Benjamin.

    “No act,” continued Mr. Franklin, “can possibly be for the benefit of the public generally, which involves injustice to any individual. It would be easy to prove this by examples. But, indeed, can we suppose that our all-wise and just Creator would have so ordered the affairs of the world, that a wrong act should be the true method of attaining a right end? It is impious to think so! And I do verily believe, Benjamin, that almost all the public and private misery of mankind arises from a neglect of this great truth—that evil can produce only evil—that good ends must be wrought out by good means.”

    “I will never forget it again,” said Benjamin, bowing his head.

    “Remember,” concluded his father, “that, whenever we vary from the highest rule of right, just so far we do an injury to the world. It may seem otherwise for the moment; but, both in Time and in Eternity, it will be found so.”

    To the close of his life, Ben Franklin never forgot this conversation with his father; and we have reason to suppose, that in most of his public and private career, he endeavored to act upon the principles which that good and wise man had then taught him.

    After the great event of building the wharf, Ben continued to cut wick-yarn and fill candle-moulds for about two years. But, as he had no love for that occupation, his father often took him to see various artisans at their work, in order to discover what trade he would prefer. Thus Ben learned the use of a great many tools, the knowledge of which afterwards proved very useful to him. But he seemed much inclined to go to sea. In order to keep him at home, and likewise to gratify his taste for letters, the lad was bound apprentice to his elder brother, who had lately set up a printing-office in Boston.

    Here he had many opportunities of reading new books, and of hearing instructive conversation. He exercised himself so successfully in writing composition, that, when no more than thirteen or fourteen years old, he became a contributor to his brother’s newspaper. Ben was also a versifier, if not a poet. He made two doleful ballads; one about the shipwreck of Captain Worthilake, and the other about the pirate Black Beard, who not long before, infested the American seas.

    When Ben’s verses were printed, his brother sent him to sell them to the town’s-people, wet from the press. “Buy my ballads!” shouted Benjamin, as he trudged through the streets, with a basketful on his arm. “Who’ll buy a ballad about Black Beard? A penny a piece! a penny a piece! who’ll buy my ballads?”

    If one of those roughly composed and rudely printed ballads could be discovered now, it would be worth more than its weight in gold.

    In this way our friend Benjamin spent his boyhood and youth, until, on account of some disagreement with his brother, he left his native town and went to Philadelphia. He landed in the latter city, a homeless and hungry young man, and bought three-pence worth of bread to satisfy his appetite. Not knowing where else to go, he entered a Quaker meeting-house, sat down, and fell fast asleep. He has not told us whether his slumbers were visited by any dreams. But it would have been a strange dream, indeed, and an incredible one, that should have foretold how great a man he was destined to become, and how much he would be honored in that very city, where he was now friendless, and unknown.

    So here we finish our story of the childhood of Benjamin Franklin. One of these days, if you would know what he was in his manhood, you must read his own works, and the history of American Independence.

    “Do let us hear a little more of him!” said Edward; “not that I admire him so much as many other characters; but he interests me, because he was a Yankee boy.”

    “My dear son,” replied Mr. Temple, “it would require a whole volume of talk, to tell you all that is worth knowing about Benjamin Franklin. There is a very pretty anecdote of his flying a kite in the midst of a thunder-storm, and thus drawing down the lightning from the clouds, and proving that it was the same thing as electricity. His whole life would be an interesting story, if we had time to tell it.”

    “But, pray, dear father, tell us what made him so famous,” said George. “I have seen his portrait a great many times. There is a wooden bust of him in one of our streets, and marble ones, I suppose, in some other places. And towns, and ships of war, and steamboats, and banks, and academies, and children, are often named after Franklin. Why should he have grown so very famous?”

    “Your question is a reasonable one, George,” answered his father. “I doubt whether Franklin’s philosophical discoveries, important as they were, or even his vast political services, would have given him all the fame which he acquired. It appears to me that Poor Richard’s Almanac did more than any thing else towards making him familiarly known to the public. As the writer of those proverbs, which Poor Richard was supposed to utter, Franklin became the counsellor and household friend of almost every family in America. Thus, it was the humblest of all his labors that has done the most for his fame.”

    “I have read some of those proverbs,” remarked Edward; “but I do not like them. They are all about getting money, or saving it.”

    “Well,” said his father, “they were suited to the condition of the country; and their effect, upon the whole, has doubtless been good,—although they teach men but a very small portion of their duties.”

    Benjamin Franklin