That sounds very doable! However, before starting any kind of funding project on Free Republic, it needs Jim Robinson's blessing.
My only reservation is that I would not want people to use their FR donations on this instead - FR is more important.
I have considered of both of your points when I formulated the idea.
I think it would be an investment of sorts, especially if the bronze plaque had "www.freerepublic.com" on it.
More traffic is more Freepers - and most likely more donations to FR.
Jim &or John will obviously have to be in on the setup of the FR CCL fund. I did copy Jim on one of my replies. If he doesn't think it's a good idea, so be it.
I'm uncertain how to proceed at this point.