Image of Founder Benjamin Franklin

Benjamin Franklin

January 17, 1706 - April 17, 1790
"But what madness must it be to run in debt for these superfluities! We are offered, by the terms of this vendue, six months' credit; and that perhaps has induced some of us to attend it, because we cannot spare the ready money, and hope now to be fine without it. But, ah, think what you do when you run in debt; you give to another power over you liberty. If you cannot pay at the time, you will be ashamed to see your creditor; you will be in fear when you speak to him; you will make poor pitiful sneaking excuses, and by degrees come to lose your veracity, and sink into base downright lying; for, as Poor Richard says, the second vice is lying, the first is running in debt. And again, to the same purpose, lying rides upon debt's back. Whereas a freeborn Englishman ought not to be ashamed or afraid to see or speak to any man living. But poverty often deprives a man of all spirit and virtue: 'Tis hard for an empty bad to stand upright, as Poor Richard truly says."source: Smyth, Writings of Benjamin Franklin, 3:416debt, money, monetary gain, debtors, bondage, borrowing, lending, owing money

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