“A lady asked Franklin: "Well, Doctor, what have we got—a Republic or a Monarchy?". Franklin replied: "A Republic, if you can keep it."”

— Benjamin Franklin

From a note of uncertain date by Dr. James McHenry. In a footnote he added that "The lady here aluded to was Mrs. Powel of Philada." Published in The American Historical Review, v. 11, p. 618. At the close of the Constitutional Convention of 1787 http://www.bartleby.com/73/1593.html
Constitutional Convention of 1787

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Benjamin Franklin 183

American author, printer, political theorist, politician, p… 1706–1790

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James McHenry diary entry on September 18,1787 https://blogs.loc.gov/teachers/files/2016/09/McHenry-Note.jpg, the day after the signing of the United States Constitution: "A lady asked Dr. Franklin Well Doctor what we got a republic or a monarchy — A republic replied the Doctor if you can keep it."
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“We are firmly convinced that the most imperfect republic is a thousand times better than the most enlightened monarchy. In a republic, there are at least brief periods when the people, while continually exploited, is not oppressed; in the monarchies, oppression is constant.”

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Context: We are firmly convinced that the most imperfect republic is a thousand times better than the most enlightened monarchy. In a republic, there are at least brief periods when the people, while continually exploited, is not oppressed; in the monarchies, oppression is constant. The democratic regime also lifts the masses up gradually to participation in public life--something the monarchy never does. Nevertheless, while we prefer the republic, we must recognise and proclaim that whatever the form of government may be, so long as human society continues to be divided into different classes as a result of the hereditary inequality of occupations, of wealth, of education, and of rights, there will always be a class-restricted government and the inevitable exploitation of the majorities by the minorities.
The State is nothing but this domination and this exploitation, well regulated and systematised.

“Fisher Ames expressed the popular security more wisely, when he compared a monarchy and a republic, saying, "that a monarchy is a merchantman, which sails well, but will sometimes strike on a rock, and go to the bottom; whilst a republic is a raft, which would never sink, but then your feet are always in water."”

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“[Lloyd George] saw [Eamon de Valera] again on Friday [15 July]… He (DeV.) insisted that what the people of Ireland wanted was a republic, & asked [Lloyd George] if the name of republic could not be conceded at any rate. [Lloyd George] replied that that was just what they cold not have—that the people of this country would not tolerate it after all that had happened. 'There must be some other word', said [Lloyd George]. 'After all, it is not an Irish word. What is the word for republic in Irish?' 'Poblacht', was DeV.'s reply. 'That merely means "people",' said [Lloyd George]. 'Isn't there another word?' 'Saorstaat', said DeV. 'Very well', said [Lloyd George]. 'Why do you insist upon Republic? Saorstaat is good enough!'”

David Lloyd George (1863–1945) Former Prime Minister of the United Kingdom

[Lloyd George] said that for the first time DeV. simply roared with laughter.
Frances Stevenson's diary entry (18 July 1921), A. J. P. Taylor (ed.), Lloyd George: A Diary (London: Hutchinson, 1971), p. 228.
Prime Minister