What plan does Ben Franklin implement so that he and his friends could have more books to read?

From the text:

About this time, our club meeting, not at a tavern, but in a little room of Mr. Grace's, set apart for that purpose, a proposition was made by me, that, since our books were often referr'd to in our disquisitions upon the queries, it might be convenient to us to have them altogether where we met, that upon occasion they might be consulted; and by thus clubbing our books to a common library, we should, while we lik'd to keep them together, have each of us the advantage of using the books of all the other members, which would be nearly as beneficial as if each owned the whole. It was lik'd and agreed to, and we fill'd one end of the room with such books as we could best spare. The number was not so great as we expected; and tho' they had been of great use, yet some inconveniences occurring for want of due care of them, the collection, after about a year, was separated, and each took his books home again.