The business of this young firm of Franklin and Meredith, viewed in the light of the grand printing enterprises of the present day, was indeed trivial. The two young men did all the work themselves without even a boy to help them. In fact Meredith, who at the best was a poor workman, and who fell into intemperate habits, neglected his business, frequented the ale-houses, and left all responsibility resting upon the efficient shoulders of his partner.
Franklin, who endeavored to be perfect in every thing he undertook, printed his paper so admirably that it is said that there is probably not a journal now in Philadelphia which is issued in better style than “The Pennsylvania Gazette” of 1729.
For seven years Franklin had been embarrassed by the thought of the fifty dollars which he had received from Mr. Vernon, and which had not yet been repaid. Mr. Vernon wrote him a very gentle intimation, stating that it would be very convenient for him to receive the money. Franklin returned a contrite and magnanimous letter. He made no attempt to extenuate his fault, promised immediately to strain every nerve to meet the debt, and in a few months paid the whole, principal and interest.
Still the infant firm was struggling with adversity. The partners had commenced operations with scarcely any capital excepting promises. Their outfit cost about a thousand dollars. Mr. Meredith had been unfortunate in business, and found himself unable to pay the second instalment promised of five hundred dollars. The stationers who furnished paper began to be uneasy, for they could not but see that Meredith was fast going to ruin.
Franklin was seldom in the habit of dwelling upon his misfortunes. In these dark hours he wrote,
“In this distress two true friends whose kindness I have never forgotten, nor ever shall forget while I can remember anything, came to me separately, unknown to each other, and without any application from me, offered each of them to advance me all the money that should be necessary to take the whole business upon myself; but they did not like my continuing in partnership with Meredith, who, as they said, was often seen drunk in the street, playing at low games in ale-houses, much to our discredit.”
Franklin generously was very reluctant to throw aside Meredith. Dissolute as the young man had become, he could not forget that he was the son of a man who had been his friend; but after carefully pondering the question and seeing ruin stare him in the face, he said one day to Meredith,
“Perhaps your father is dissatisfied at the part you have undertaken in this affair of ours; and is unwilling to advance for you and me, what he would for you. If that is the case tell me, and I will resign the whole to you and go about my business.”
Meredith replied,
“My father has really been disappointed, and is really unable. I am unwilling to distress him further. I see this is a business I am unfit for. I was bred a farmer and it was folly in me to come to town, and put myself at thirty years of age an apprentice to learn a new trade. Many of our Welsh people are going to settle in North Carolina where land is cheap. I am inclined to go with them, and follow my old employment. If you will take the debts of the company upon you, return to my father the hundred pounds he has advanced, pay my little personal debts, and give me thirty pounds and a new saddle, I will relinquish the partnership, and leave the whole in your hands.”