The context here was Indian raids. Some rich land owner wanted to pay a one time fee. Benjamin Franklin was saying a 1 time fee wasn't enough - and it would only offer temporary safety rather than ongoing safety higher taxes would offer.
This essential liberty was freedom from being killed. Pretty fucking essential.
That's quite interesting. I'd expect a lot of people to say "the freedom to keep my money" is absolutely essential.
We give up that right in exchange for the permanent safety that a government is supposed to grant. Life is presumably more fundamental than money, but if it's the only truly essential liberty, there is a lot of room to give up others.
This essential liberty was freedom from being killed. Pretty fucking essential.