It does not appear that Franklin was particularly frugal as a young man. He spent his money lavishly in convivial entertainments, of which he was the life, among his humble companions, a favorite not only with them, but with all the girls whose acquaintance he made. So remarkable was he for wit, good nature, and intelligence that at the age of eighteen he attracted the notice of the governor of the province, who promised to set him up in business, and encouraged him to go England to purchase types and a printing-press. But before he sailed, having earned money enough to buy a fine suit of clothes and a watch, he visited his old home, and paraded his success with indiscreet ostentation, much to the disgust of his brother to whom he had been apprenticed.
On the young man's return to Philadelphia, the governor, Sir William Keith, gave him letters to some influential people in England, with promises of pecuniary aid, which, however, he never kept; so that when Franklin arrived in London he found himself without money or friends. But he was not discouraged. He soon found employment as a printer and retrieved his fortunes, leading a gay life, and spending his money, as fast as he earned it, at theatres and in social enjoyments with boon companions of doubtful respectability. Disgusted with London, or disappointed in his expectations, he returned to Philadelphia in 1726 as a mercantile clerk for a Mr. Durham, who shortly after died; and Franklin resumed his old employment with his former employer, Keimer, the printer.
On his long voyage home he had had time for reflection, and resolved to turn over a new leaf, and become more frugal and respectable. He would not give up his social pleasures, but would stick to his business, and employ his leisure time in profitable reading. This, Mr. Parton calls his "regeneration." Others might view it as the completion of "sowing his wild oats." He certainly made himself very useful to the old visionary Keimer, who printed banknotes for New Jersey, by making improvements on the copper plate; but he soon left this employment and set up for himself, in partnership with another young man.
The young printers started fairly, and hired the lower part of a house in Market Street, most of which they sublet. Their first job brought them but five shillings. Soon after, they were employed to print a voluminous history of the Quakers, at a very small profit; but the work was so well done that it led to a great increase of business.