From Historical Rutland: an illustrated history of Rutland, Vermont, from the granting of the charter in 1761 to 1911 by Rev. F. E. Davison, Rutland, Vt.: P.H. Brehmer, 1911, page 16:
The famous old Franklin House was one of the leading Rutland taverns in the early part of the nineteenth century. It stood on the east side of Main Street near the spot now occupied by the residence of P. M. Melden, corner of Main Street and Mansfield Place. It was known as Gould's Tavern. It was kept by Henry Gould before the war of 1812. In 1829, Nathaniel Gould, brother of Henry, thoroughly refitted the building and changed the name to the Franklin House. Again in 1833 Robert Temple remodeled the hotel and it was finally destroyed [17] by fire in 1868. The Franklin House stood on the site of Munn's Tavern, which was in its glory in 1794. Nathaniel Gould. who changed the name of the hotel from Gould's Tavern to the Franklin House was born in 1786 and died at Westminster in 1853. Gershom Cheney bought the FrankIin House two years before it burned in 1868 and was to have given up the management in two days, when it caught fire April 3, 1868, from the bursting of a lamp in the middle of the night. starting a conflagration which destroyed the building, the court house and other property, with a loss of over $50,000. At the time of its destruction the hotel could accommodate more people than any other public house in this section. The proprietor at one time entertained a whole circus, horses and all, and that during court week. He divided the dancing hall annexed to the tavern into rooms, and had another barn for the animals. On the third floor of the house was the hall where the young people used to take dancing lessons.
This famous hostelery had many proprietors during its long history. Among the most prominent besides those mentioned were George H. Beaman, who ran the hotel for nine years till about 1843. Then followed George R. Orcutt and after him Pratt and Ira C. Foster. Then came Putnam and Bryant and in 1854 John C. Parke, of Whitehall. Afterwards it was Foster and Morris, Morris withdrew and Gershom Cheney bought of Foster about two years before the house was burned.