Thursday, December 31, 2009

Happy New Year!

To the principle of Individual Rights
     We owe our joy, wealth, Life
Secure the Declaration by moral might
     Honor freedom: pay the debt forward!

Fight! That the Founders live on
     Think! That innocents will breathe reason
Extol precious Liberty! By right: cheer!
     To freedom lovers: Happy New Year!


Ilyn Ross said...

From Wikipedia:

Benjamin Franklin's inventions also included social innovations, such as paying forward.

The expression "pay it forward" is used to describe the concept of third party beneficiary in which a creditor who offers the debtor the option of "paying" the debt forward by lending it to a third person instead of paying it back to the original creditor. Debt and payments can be monetary or by good deeds.

The concept was described by Benjamin Franklin, in a letter to Benjamin Webb dated April 22, 1784:

"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 that will stop its Progress. This is a trick of mine for doing a deal of good with a little money."

Rebecca said...

"Pay it Forward" an excellent concept! Thanks Benjamin, and all that adhere to it ! Of course, loved the movie as well!

Ilyn Ross said...

Happy New Year, Rebecca!

Ilyn Ross said...

"Be at war with your vices, at peace with your neighbors, and let every new year find you a better man." ~ Benjamin Franklin