English Public Finance from the Revolution of 1688: With Chapters on the Bank of England

By Harvey E. Fisk | Go to book overview

CHAPTER XVII
State Lotteries and Lottery Loans
(1694-1826)

THE first lottery loan was raised in 1694. The lottery principle had long been known and used on the Continent and was not entirely new to England.


The First English Lotteries

The first English lottery of which there is any record was one projected in the reign of Elizabeth and issued under her patronage in the year 1569. The bill announcing it states that "the same Lotterie is erected by her majestie's orders to the intent that such commoditie as may chaunce to arise thereof, after the charges borne, may be converted towardes the reparation of the havens and Strength of the Realme, and towards such other publique good workes." We have no record as to the amount which it yielded.

A loan by lottery was raised in the time of James I, the proceeds being used to defray the expenses attending the establishment of the colonies in America.

The first lottery loan of King William III was for £1,000,000. It was offered in shares of ten pounds. Annuities of £14 per cent. for 16 years were variously apportioned, £14 per cent. on every share and a larger proportion for the holders of 2,500 fortunate tickets. The principal prize was £1,000. The annuity of £140,000 was made a charge upon the salt duties. The operation was called the Million Lottery and the annuities the Salt Lottery Annuities.

-108-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
English Public Finance from the Revolution of 1688: With Chapters on the Bank of England
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 244

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.