Franklin Trusts Matured After Centuries

When Benjamin Franklin died in 1790, he left 1,000 pounds sterling each to Boston and Philadelphia, directing the cities to lend the money to young tradesmen. After the trusts completed their 200-year term in 1990, Boston's fund had grown to about $4.5 million, while Philadelphia's had reached approximately $520,000. Both cities planned to preserve Franklin's educational purpose by using much of the money for vocational training and financial assistance.

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