Lafayette’s Farewell Tour: Pomp, Circumstance, Before Lunch In Geneva

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Geneva a generation after Lafayette’s visit. Source: Barber, John W., and Howe, Henry, Historical collections of the state of New York, S. Tuttle, New York 1842, p. 52

General Lafayette rose the morning of Wednesday, June 8, 1825, shortly after sunrise. At 7 o’clock that morning, the French entourage bid John Greig adieu. They climbed aboard their waiting carriage and a military escort led them onto the old Genesee Road (and then the Seneca Turnpike). About ten miles down the road, at Ball’s tavern, they’d meet the committee from Geneva and transfer their precious cargo to them.1

For the good citizens of Geneva, the largest settlement in the Greater Western New York region, Lafayette was a long time coming. A couple of weeks before, the village appointed a committee of eleven upstanding men to invite the Nation’s Guest to visit their fair village. They drafted a letter dated May 28, 1825, for that purpose. Appealing to his sense of Continue Reading “Lafayette’s Farewell Tour: Pomp, Circumstance, Before Lunch In Geneva”

The Glorious Road to the Memorable 1904 St. Louis World’s Fair

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Panem et Circenses. It’s a philosophy that goes back to ancient Rome. Literally translates from the original Latin as “Breads and Circuses,” it defines a strategy to mollify a potentially unruly populace by distracting them with basic needs and entertainment. It’s what you do if you’re not sure the sudden surge in pitchfork sales are destined for farms across your nation or a dense mob about to knock on your front door.

Such was the condition of France throughout the period of the French Revolution. The new government, recognizing its tenuous position, organized a series of festivities beginning with the Festival of the Federation held on July 14, 1790, a year to the day about that aforementioned mob stormed the Bastille. During the final stages of Révolution française, well after the Reign of Terror, the Directory ruled France. In 1798, a little more than a year before the coup d’état that ushered in a new triumvirate that included Napoleon Bonaparte, the Directory decided Continue Reading “The Glorious Road to the Memorable 1904 St. Louis World’s Fair”

The True Legacy of Ben Franklin’s Last Will and Testament

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The following represents a chapter excerpt from the forthcoming book From Cradle to Retirement – The Child IRA – How to start a newborn on the road to a comfortable retirement while still in a cozy cradle (Pandamensional Solutions, Inc., September 2017). If you know of millennials (or baby boomers) who are parents (or grandparents), especially if they own their business or are part of a closely-held/family business, you may want to encourage to pre-order the book through Kickstarter project: “Child IRA Book – Is Your Child’s Future Worth $1,000 a Year.” Professional might want to take a look at and back this project, too, because it offers several low-cost opportunities to brand their business in this large and growing market.

Ben Franklin may have been teased into starting twin 200-year trusts in Boston and Philadelphia, but he nonetheless realized a great idea when he saw one. He even recognized the potential obstacles that might present themselves to those tasked with executing his grand plan. More important, we now recognize that, all other things aside, Franklin should be applauded for his eternal optimism in the nation he helped found.

The history of his legacy trusts – The Franklin Trust of Philadelphia and the Franklin Foundation of Boston – instructs us on both the power of compound interest and the dangers of relying on public officials to manage money for the long-term. We might even Continue Reading “The True Legacy of Ben Franklin’s Last Will and Testament”

Ben Franklin Trusts – Did They Work?

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The following represents a chapter excerpt from the forthcoming book From Cradle to Retirement – The Child IRA – How to start a newborn on the road to a comfortable retirement while still in a cozy cradle (Pandamensional Solutions, Inc., September 2017). If you know of millennials (or baby boomers) who are parents (or grandparents), especially if they own their business or are part of a closely-held/family business, you may want to encourage to pre-order the book through Kickstarter project: “Child IRA Book – Is Your Child’s Future Worth $1,000 a Year.” Professional might want to take a look at and back this project, too, because it offers several low-cost opportunities to brand their business in this large and growing market. 

The ever meticulous Benjamin Franklin sought to control at least a portion of his wealth from his grave. That particular bequest (in 1790) – 1,000 pounds sterling each to the cities of Boston and Philadelphia – came with specific directions as to its use and disbursement. These instructions covered a period of 200 years. How close did the beneficiaries stick to Franklin’s instructions? How did this loyalty – or lack of loyalty – to the grantor’s final wishes leave the final estate at the end of Franklin’s 200-year time period? Finally, what does the legacy of Ben Franklin’s Last Will and Testament tell us about ourselves, our nation, and our collective financial literacy?

Franklin calculated the value of each fund would be £131,000 at the end of the first Continue Reading “Ben Franklin Trusts – Did They Work?”

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