He was the son of Mary (née Haviland) Franklin (1773–1854) and Thomas "Uncle Tommy" Franklin Jr. (1762–1830), a merchant and chief engineer of the Volunteer Fire Department from 1799 to 1812.
[1] In 1844, Franklin was the Whig candidate for Mayor of New York City, but was defeated by James Harper who ran as the candidate of the American Republican Party.
[2] Franklin was President of the Board of Aldermen of New York City from 1847 to 1849.
[1] He was President of the New York Life Insurance Company from 1848 until after 1870.
Together, they were the parents of:[4] He died on October 22, 1885, in Flushing, Queens.