PICTORIAL FIELD BOOK OF THE REVOLUTION.

VOLUME II.

BY BENSON J. LOSSING

1850.

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SUPPLEMENT.

X.

CONTINENTAL LOTTERY.

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To consist of 100,000 tickets, each divided into four billets, and to be drawn in four classes.

FIRST CLASS, at $10 each billet = $1,000,000. Prizes: 1 of $10,000; 2 of $5000; 30 of $1000; 400 of $500; 20,000 of $20. Carried to the fourth class, $200,000.

SECOND CLASS, at $20 each billet = $2,000,000. Prizes: 1 of $20,000; 2 of $10,000; 10 of $5000; 100 of $1000; 820 of $500; 20,000 of $30. Carried to the fourth class, $500,000.

THIRD CLASS, at $30 each billet = $3,000,000. Prizes: 1 of $30,000; 1 of $20,000; 2 of $15,000; 2 of $10,000; 10 of $5000; 200 of $1000; 1000 of $500; 2000 of $40. Carried to the fourth class, $900,000.

FOURTH CLASS, at $40 each billet = $4,000,000. Prizes: 1 of $50,000; 2 of $25,000; 2 of $10,000; 10 of $5000; 100 of $1000; 200 of $500; 1000 of $300; 15,000 of $200; 20,000 of $50. Brought from the first three classes, $1,600,000. Total, $5,000,000.

This lottery was intended to raise a sum of money on loan, bearing an annual interest of four per cent., which, with the sums arising from deductions of fifteen per cent. upon the amount of each class, making in the aggregate one hundred and five thousand dollars, was to be applied to the public use. The drawer of more than the minimum prize in each class was to receive either a Treasury Bank-note, payable in five years, with an annual interest at four per cent, or the preemption of such billets in the next succeeding class. This was optional with the adventurers. Those who should not call for their prizes within six weeks after the end of the drawing were considered adventurers in the next succeeding class. Seven managers were appointed, who were authorized to employ agents in the different states to sell the tickets. The first drawing was decided to be made at Philadelphia on the first of March, 1777, but purchasers were comparatively few and tardy, and the drawing was postponed from time to time. Various impediments continually presented themselves, and the plan, which promised such success at the beginning, appears to have been a failure. Many purchasers of tickets were losers; and this, like some other financial schemes of the Revolution, was productive of much hard feeling toward the Federal government. The adventurers in the Continental Lottery have long since passed away, and very few of the tickets are left. The one here counterfeited was presented to me by Mr. George W. Pettis, of Providence, Rhode Island.

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