Gye Greene's Thoughts

Gye Greene's Thoughts (w/ apologies to The Smithereens and their similarly-titled album!)

Monday, July 25, 2011

Infinite loan

I thought this was a clever idea, if you can afford if financially. It's originally from Ben Franklin -- but I found it in this blog entry.

Here it is, in Ben Franklin's own words, regarding having loaned a friend some money:

"I do not pretend to give such a Sum; I only lend it to you. When you [...] meet with another honest Man in similar Distress, you must pay me by lending this Sum to him; enjoining him to discharge the Debt by a like operation, when he shall be able, and shall meet with another opportunity. I hope it may thus go thro' many hands, before it meets with a Knave [i.e. crummy person] that will stop its Progress. This is a trick of mine for doing a deal of good with a little money."

I like the concept. :)


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At August 13, 2011 7:46 AM, Anonymous Anonymous said...

Unfortunately, now the "Knaves" are simply as part of the financial landscape. They're called "investment bankers" or "brokers". :)


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