I'm not sure if most people know that the first libraries in America were privately funded subscription services, established by Benjamin Franklin. The first American lending library (Library Company of Philadelphia) was set up in 1731, where it operated for literally over 100 years as a private institution, and exists to this day as a nonprofit. The first taxpayer-funded public library was established 102 years later, in 1833 (New Hampshire Town Library). The optional market good served its clientele better than the non-optional public service for over 100 years.

From the Revolutionary War to 1800, when the national government was in Philadelphia, the Library Company also served as the Library of Congress. Until the 1850s it was the largest public library in America. All of the books the Library Company acquired year by year over more than two and a half centuries are still on its shelves, along with many others added since it was transformed into a research library in the 1950s. In the 21st century, the Library Company serves as a resource for a variety of readers, from high school students to senior scholars, from novelists to film producers, and anyone else with an interest in our collections.

https://librarycompany.org/about-lcp/