I don't think so. From the original text [1]:
"In fine, we have the most sensible Concern for the poor distressed Inhabitants of the Frontiers. We have taken every Step in our Power, consistent with the just Rights of the Freemen of Pennsylvania, for their Relief, and we have Reason to believe, that in the Midst of their Distresses they themselves do not wish us to go farther. Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.
This was excerpted from writing that was largely about ongoing dispute with the crown (the Governor) about the abuse of authority coming from Britain. The crown was rejecting pretty much every bill they were creating: "Our Assemblies have of late had so many Supply Bills, and of such different Kinds, rejected on various Pretences; Some for not complying with obsolete occasional Instructions (tho’ other Acts exactly of the same Tenor had been past since those Instructions, and received the Royal Assent;) Some for being inconsistent with the supposed Spirit of an Act of Parliament, when the Act itself did not any way affect us, being made expresly for other Colonies; Some for being, as the Governor was pleased to say, “of an extraordinary Nature,” without informing us wherein that extraordinary Nature consisted; and others for disagreeing with new discovered Meanings, and forced Constructions of a Clause in the Proprietary Commission; that we are now really at a Loss to divine what Bill can possibly pass."
They were ready to just throw up their hands and give up: "we see little Use of Assemblies in this Particular; and think we might as well leave it to the Governor or Proprietaries to make for us what Supply Laws they please, and save ourselves and the Country the Expence and Trouble."
In fact, they had specifically written into the bill the ability for the Governor to exempt anyone he wanted from the tax, including the Penns: "And we being as desirous as the Governor to avoid any Dispute on that Head, have so framed the Bill as to submit it entirely to his Majesty’s Royal Determination, whether that Estate has or has not a Right to such Exemption."
The quote is clearly derived from Franklin's frustration with the governor and abuse of authority.Also, while that's the first appearance of the quote, it's not the last time he used it. He also reiterated it as an envoy to England during negotiations to prevent the war [2].
Additionally, a similar quote was from well before either in Poor Richard's Almanac in 1738, that also illustrates his thinking [3] and shows that he was well aware of the plain meaning of what he was saying, it certainly wasn't limited to a tax dispute:
"Sell not virtue to purchase wealth, nor Liberty to purchase power."
Finally, Franklin was obviously pleased about the message and interpretation of the quote, since he had no issue with it being used as the motto on the title page of An Historical Review of the Constitution and Government of Pennsylvania (1759) which Franklin published, but didn't author.[1] https://founders.archives.gov/documents/Franklin/01-06-02-01...
[2] https://oll.libertyfund.org/quotes/benjamin-franklin-on-the-...