Jubilee Prosperity

In times of economic stress, health becomes as important as wealth.

Today a little different post on the philosophy of how and why we invest:

Ben Franklin (1706-1790), is one of our heroes who learned late in life the miracle of compounding.

As more people find in these deflationary times, it is better to have compounding work for us with reliable dividends and interest, than fight against us with bills, debts, IOUs and loans.

Compounding was called the eight wonder of the world.

That insight was attributed to Benjamin Franklin (1706-1790), Baron Rothschild (1840-1915), Bernard Baruch (1870-1965) and even Albert Einstein (1879-1955).

BFranklin, his humble legal signature, was a polymath Puritan.

BF was born on Milk Street in Boston. His Puritan father came from a blacksmith farmer family in England. His mother was a Puritan Pilgrim Folger who came from an indentured servant and miller schoolteacher family on Nantucket Island.

Her family later founded the Folger Coffee Company and the Amherst Folger Shakespeare Library in Washington, DC endowed by Henry Clay Folger, an Amherst Phi Beta Kappa and President of Standard Oil of New York.

BF was his middle class father’s 15^th child. BF’s father prayed for a minister son who could preach Puritan values of equality, industry, self-governance and self-reliance. He got a worldly worthy steward, perhaps not exactly the way he expected.

BF etched Proverbs 22:29, Seest thou a man diligent in his calling, he shall stand before Kings, on his father’s tombstone as reminder of the Protestant Work Ethic.

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This entry was posted on Thursday, October 22nd, 2009 at 5:46 pm and is filed under Prosperity. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.