The Lottery for 1714 contained 50,000 tickets at 10l. each, with 6982 prizes and 43,018 blanks; two of the former were 10,000l. with one of 5, another of 4000l. a third of 3000l. and a fourth of 2000l. five of 1000l. ten of 500l. twenty of 200l. fifty of 100l. four hundred of 50l. and six thousand four hundred and ninety-one of 20l.
Besides the drawing for prizes and blanks, there was another for the course of payment, and each 1000 tickets was called a course. The payments to the receivers were on the 10th of November and 10th of December 1713. When the Tickets were drawn, they were exchanged for standing orders, and thus rendered assignable by endorsement; all the blanks were repaid the 10l. per ticket at one payment, in the order their course of payment happened to fall, and they bore an interest of four per cent. from Michaelmas 1713. The prizes were payable in the same manner: the first drawn ticket had 500l.; the last 1000l. besides the general chance; 35,000l. per annum was payable weekly from the Exchequer
to the Paymaster for the discharge of the principal and interest, and the whole funds of the Civil List were chargeable for thirty-two years for 35,000l. per annum .
To shew the difference between past and present methods, it may be worth while to insert a modern scheme.
"State Lottery begins drawing October 13, 1806, containing more Capital Prizes, and 5000 less Tickets, than last Lottery. The first drawn Ticket entitled to 10,000l.; all other Capital Prizes are afloat. Purchasers of Tickets and Shares will have the opportunity of obtaining all the Capital Prizes, provided they purchase before the drawing commences. The Scheme has equal advantages of 20,000l. Prizes, 10,000l. Prizes, 5,000l. Prizes, &c. &c. to former Lotteries of double the number of Tickets.
| No. of Prizes. | Value of each: | Total Value. | ||
|---|---|---|---|---|
| 3 | of | £.20,000 | are | £.60,000 |
| 3 | 10,000 | 30,000 | ||
| 3 | 5,000 | 15,000 | ||
| 5 | 1,000 | 5,000 | ||
| 8 | 500 | 4,000 | ||
| 20 | 100 | 2,000 | ||
| 40 | 50 | 2,000 | ||
| 4,100 | 20 | 82,000 | ||
| ——— | ———— | |||
| 20,000 | Tickets. | £.200,000 | ||
20,000 Tickets only, and no other State Lottery to be drawn this year."
The first mention of any thing of this kind I have met with is in the year 1708, under the name of the "Taylors' Friendly Society" for insuring the lives of Adults and Children male and female; which was held at the Cross Keys, Wych-street; and the Trustees met twice in each month, when 1500 persons had subscribed 5s. each, including policies, stamps, entrance, and first claim; and continued their payments three years. They became entitled to relief in case of illness or poverty, and their Executors after death to 200l. Another Society was connected with it, and termed the "Amicable Society," the terms 5s. 6d. and 2s. per quarter; for which relief was afforded, and 120l. paid at the decease of the Subscriber.
Another, called "The Fortunate Office," was intended to provide marriage-portions for the Subscribers, who paid 2s. per quarter for their tickets.