New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-04-18
AUSTRIAN CONCERN s.
Sr,rr Ann pRIvArF LOTTERYE.s.

FOSTERING THE EVIL
rvRoM A REGULAR CORRESPONDENT oF T'h iHip''
VIENNA, March IL might gave, ar a pleIaoe
% TN. letter pauful picture Of the demoraliHAtoh
caused ny the lottery system in Austrl", ''" -.
,.,o. ,,,,or, run,ner Of careers broken. families
,r,ned and sui,5des brought about through e "se0'
Imight even quote number ess speeches "ii 80
4. and name dozens q Austrian s'A'esn'e" an"
nent characters " no have loudly ano p"oi'oS Co.." 10
,ts abolition although they have been forceo ~
-, n .s,opishnc results Il produced when money
h.s he,p urgently needed aud eoud not ne pToeeu ~
other means could point out the influence 'ue es'
IA. exercised on character Of the people ana Oh ~
mode 81 carving business how II has desuo!eu Vi
NJ least weakened. their spirit OF senhepenuehee "
.n,erpr,se aud encouraged ideness want OF thrI ana
,Eprovtdeuce But I think Il unnecessary the lAe@
which follow will speak for themselves. and any one VINO
reads them attenuvely will probably Acknowledge tna'
The desu~ rate financial condition from which Austria
oiv iust beginning slowly thanks 70 her eHor-
nous natural resources. is 10 large degree o"s ~ -"
Effects OF the lottery system
GOVERNMENT LOTTERIES.
,,s, neorle will he surprised 20 hear that esixths
othe money borrowed Austria whether 10y the Gov
srumeut companies. private individuals II oOtainea
Nv means OF lotteries Indeed, Of the funds obtained 81
yarious tlmes by the Government nom the Aurrian
naooe there IS scarce tenth part which has not been
raised by means Of Lotteries. But Austrian hnahoee
have 80 much improved If that since 1866 there Nae
h.ep no new lean st all the old lotteries are Ia ioree
- all q them extend a series OF twenty ths' OF
nffy years, many OF the old lotteries run wei mo
the next century. Altogether, there are 81 state
aud urivae lotteries belonging 10 Austria, quoeG on lne
prrso and in me daily papers besides few lot
teres of less importance established for the eeheh'
cf charltahIe institutions and which are not puDheH
noticed In addition 70 these there are foreign lou
ferries. mostly German and Italian when the 1oFerh
rcnt has allowed be quoted on the Bourse ana IN the
stock and share LIST OF Austrian journals. presume II
il generally known that the Austrian Government does
not allow foreign 10 be quoted publicly in Austria
lpnc thereby conne speculation 20 domestic stocks
That this rule does produce the effect desired IL II
scarcely necessary mention. But for some strange
reason though the authorities exclude United states
bonds French rentes and English consos from the h'
Of nuofst.ops thew grant foreign Lotteries TIE
same privilege % their own.
It's not an uncommon tning IN Austria for people 10
nves: the whole Of their capital N lotteries am
,peakinc Of persons who. in other countries, would
invest their personal property IN United States bonds
Eurish eoEsois, or railway stock Some OF the state
lotteries and few private lotteries pay Interest
varying per cent on the price OF the tickets
and many persons prefer 10 receive per cent on the
invested property. with remote chance OF gaming
prize Of $4,000 or soOCo TO placing their money In one
81 the numerous and sound and per cent paying
investments There are Il Government lotteries, OF
which nav interest The tickets cost from $50 to s5o
and the number Of The tickets IL the lottery
tie amount OF the pu5es, as vel az the
number Of drawings N each year vary also
There is no hxed pan on which LOTTERIES are
founded more profitable 10 the borrower
than others when money is scarce i Is necessary 10
tempt the public with larger prizes more Of them and
more frequent drawings. The state issues liz lotteries
on better than companies and far better than
private individuals for. with the State the security Is
considered better When n private individual has Oh
tanned leave 70 start lottery obliged 20 ntrust
and management 10 some banking house
or one numerous establishments which transact
nothing but lottery business these charge an eH0r-
NOUS commission for putting the lottery on the market
and when additional expense Of the Prizes and the
losses sustained through tickets remaining on hand are
taken into account marvellous that the Princes
and nObenen for whose benefit the lotteries are esa-
nshed are not ruined instead q assisted by the opera
ton.
THE sYsrrs UPON WHICH LOTTERIES ARRANGED.
To explain the system, I take example the 1850
s:ate Lottery for soO 100000 which great favorlte
with the public This lottery divided into 100000 mex
cts costing $50 each has four drawings in the year
and the last drawing viii take place in 1917 that IS u
years from It's beginning. Bv that time the state Will
have paid in prizes 465ooo addition 20 per cent
interest which It's paying al along the price Of the
rckets that II S465OOOO and above the amount il
borrowed besides interest. THIS evidently an ex-
pensive financial operation. The number OF prizes ID
seases each year The first year so prizes were gwen OF
The total value OF $4,000, bur this year lao prizes
gill be drawn altogether. amounting 70 $4,000, and IN
e last year OF the lottery the prizes viii amount TO
more than o. 100000 The first prize in each drawing is
Is0OOO the second $500 the third S25OO; the fourth
and th 1900 each; the next 60 $50 EACH ana the re
naming prlzes whatever their number 500 each.
the number Of prizes Increases
and this ncre rapid that al the END OF the ast
drawing in 1917 there viii have been gwen in all from
The beginning in 1902 prlzes, that Is, exactly the
number OF tickets the lottery. And the lowest
prize is worth $780, and ticket only costs $3.50 each ticket
must at other be repaid, with $50 additional
The interest paid on tickets Of course soon
az a ticket is drawn.
The terms Of lottery specially favorable 70 the
ticket-hoder 1t established al time when Austria
was in great difficulty, and when money could not be
raised on better II consequently necessary
70 offer unusually attractive Inducements There Is
other detail which needs description II If not usually
customary 70 number the tickets l, O. g. and so on,
until the total OF tickets has been reached but
rather 70 the the lottery have JUST
toned said there tickets in it, These
divided into 10000 and each series contains %
tickets. At one drawing the series Is drawn,
and every person who Possesses ticket be-
longing 70 one Of the series - drawn knows
that must receive prize but i Il not until the next
drawing that he knows what that Prize Will be- The
agony Of suspense made 20 last three months These
arr the principal details Of the 1850 lottery The remain
ing state lotteries resemble it IN its general features,
but they all vary from each other IN the plan. the
expression is here borrowed varies and
does the price the tickets the number Of prizes gwen,
and the number OF drawings in the year The most i'm
pOrtant difference between lotteries is 70 whether they
paw interest or not and whether they repay ali the
tickets only certain number Of them. In all the
state and many private the tickets are
al fully repaid, sometimes with small premium but
with private lotteries Is the exception them 70
Interest
LOTTERIES FoR TIE BENEFIT oF. PRIVATE INDIVIDUALS.
VuS NM mo AZ