Today is the 316th anniversary of the birth of founding father extraordinaire Benjamin Franklin (1706 – 1790). Franklin was an inventor, the first scientific American, the first diplomat of the United States, the first postmaster and a signer of both the Declaration of Independence and the Constitution. He was also the first President of the Pennsylvania Society for Promoting the Abolition of Slavery.
Michael Hart, the author of “The 100 Most Influential People in History,” considered Franklin to be “the most versatile genius in all of history.”
And the historian H. W. Brands considered Franklin “perhaps the most beloved and celebrated American of his age, or indeed any age.”
For investors, he was the founder of American capitalism and extolled the virtues of industry, thrift and prudence.
In his Autobiography and his “Poor Richard’s Almanac,” he was also famous for his pithy proverbs, financial adages and worldly wisdom.
Mark Skousen (aka Ben Franklin) and Eagle Financial Publication’s editor Paul Dykewicz.
As a direct descendant and a frequent portrayer of Ben Franklin, I have been collecting dozens of his sayings in my “Maxims of Wall Street.” In fact, Franklin is quoted more than any other financial guru except for Warren Buffett and Jesse Livermore.
Here are some great quotes from Franklin that apply to our personal lives and our nation:
“There is much revenue in economy, and no revenue is sufficient without economy.”
“Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety.”
“I am a mortal enemy to arbitrary government and unlimited power. I am naturally very jealous for the rights and liberties of my country, and the least encroachment of those invaluable privileges is apt to make my blood boil.”
“A virtuous and industrious people may be cheaply governed.”
“The system of America is commerce with all and war with none.”
“A fool and his money are soon parted.”
“An investment in knowledge pays the best interest.”
“Nothing but money is sweeter than honey.”
“Patience in market is worth pounds in a year.”
“Haste makes waste.”
“It is incredible the quantity of good that may be done in a country by a single man who will make a business of it.”
“I saw in the public papers of different states frequent complaints of hard times, deadness of trade, scarcity of money, etc. It is always in the power of a small number to make a great clamor. But let us take a cool view of the general state of our affairs, and perhaps the prospect will appear less gloomy than has been imagined.”
And finally, “The years roll round and the last will comes; when I would rather have it said, He lived usefully, than he died rich.”
Half Off for ‘Maxims of Wall Street’
If you haven’t received the latest 10th-anniversary edition of “The Maxims of Wall Street,” buy it today! Go to www.skousenbooks.com. The price is low, only $20 for the first copy, and $10 for all additional copies. They make great gifts. If you buy an entire box (32 copies), the price is only $300. I sign all books and pay for the postage if mailed in the United States.
P.S. I will be hosting a subscribers-only teleforum called “What’s New in Crypto & Our #1 Pick” on Jan. 27 at 2 p.m. Click here to register for free.
Until next Monday, this is Mark Skousen, saying so long, fellow free-marketeers, and remember, AEIOU.