After the elder Franklin died in 1790, Temple lived for a while with his father William in England. In London, he acted as an agent of the American Robert Morris of Philadelphia, a signer of the Declaration of Independence, a financier of the American Revolution, and the wealthiest man in the United States. (See Holland Land Company, The Holland Purchase, and The Morris Reserve.) In 1792, Franklin sold of the Phelps and Gorham Purchase east of the Genesee River in New York state to The Pulteney Association, made up of three British investors. There was widespread land speculation in New York after the Revolution, as most of the Iroquois nations, as allies of the British, had been forced to cede their lands to the United States by the postwar treaty. Millions of acres became available for sale to investors, speculators, and settlers.
