"The Suggestions as far as they extend and relate to the shortening the duration of the drawing are highly useful, but they fall short of the object, and the Plan, if executed, would nearly prevent the sale of tickets, and totally so that of shares, and consequently abolish Lotteries altogether;—a consummation devoutly to be wished by every friend to the public, but under the pecuniary influences, which perhaps too much affect political considerations, little to be expected.
"It will be necessary to exhibit only a plain Statement of the proportionate chances in the wheel during the 7½ days of drawing on the Scheme of 50,000 Tickets, viz.—
| Prizes. | Blanks. | ||||
| 1st. | Day | 15,000 | to | 35,000 | 2⅓ to a Prize |
| 2d. | — | 13,000 | — | 35,000 | |
| 3d. | — | 11,000 | — | 35,000 | |
| 4th. | — | 9,000 | — | 35,000 | |
| 5th. | — | 7,000 | — | 35,000 | |
| 6th. | — | 5,000 | — | 35,000 | |
| 7th. | — | 3,000 | — | 35,000 | |
| last. | — | 1,000 | — | 35,000 | 35 to a Prize. |
"Hence it is evident, that on supposition the value of the Prizes diminish by an equal ratio, every day of drawing, still the actual value of the Prizes in proportion to the permanent number of the Blanks will be diminished by the relative proportion increasing at the rate of about 4666 Blanks every day after the first. Consequently it must follow, that the premiums of insurance, as well as the price of Shares and Tickets, instead of acquiring in their value a very considerable increase, must be subject to a very considerable diminution.
"To maintain the foregoing [Plan, No. I.] which is a good ground-work for lessening the evil, I take the liberty (says my Correspondent) of suggesting the following improvement.
"After the Prizes are drawn each day, let the proportion of the Blanks, namely, 4666 be drawn also. Let there be a suspension likewise of five or seven days between each drawing for the sale of Tickets and Shares, and to give time for insurance. It may be objected, that the time being thus prolonged the inconvenience will remain the same; to avoid which, the blank numbers so drawn, must be done secretly and sealed up by the Commissioners, or, they may be drawn openly but not unfolded or declared, and if necessary, made public after the drawing; by which means the insurance against Blanks or Blank and Prize will be equally abolished."
PLAN III.
"The Evils of a Lottery are many.—The Advantages might, if well regulated, be as numerous. According to the Schemes that have hitherto prevailed the principle has been wrong. Since the bait held out has been the obtaining of an immense fortune, and the risk has been proportionably great—Insurance has reigned unchecked by all penalties and punishments that could be devised to the ruin and misery of thousands. The price of tickets has been fluctuating, and fortunes have been won and lost on the chance of the great Prizes keeping in the Wheel: the £.20 prizes have always proved dissatisfactory, as though there are only 2½ prizes on an average to a blank, yet such is the uncertainty, that many have scores of tickets without obtaining the proportionate advantage even from these low prizes. It is thought, therefore, that a scheme which should offer considerably more chances for prizes of and above £.50, and which should ensure a return on all blanks, would be acceptable. If also it could be made to prevent insuring of tickets and capitals, it seems to be the grand desideratum in this branch of financeering.
"The principle on which these benefits may be obtained is this. There should be a considerable number of moderate prizes, such as might be fortunes, if obtained by the inferior ranks, and of consequence sufficient to answer the risk of the rich. The tickets to be drawn each day should be previously specified which may be done by appropriating a certain share of the prizes to a certain number of tickets. All the tickets not drawn prizes of £.50 or upwards shall be entitled to a certain return, which would be superior to a chance for a £.20 prize.