Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1886-09-16
COMPETENT TESTIMONY.

KNOWN under the nom de plaHae of Petro-
leum V. Nasty, went to New Orleans tc
investigate the workings Of The Louisians
State Lottery. about which he had heard
9 much. He went there prejudiced
against it, but as will be seen from what
he wrote home to his newspaper the Toledo
Blade, he fully satisfied himself of the hon.
esty and fair dealing of this world renown-
ed Company. The following is a portion
OF his letter, and is interesting reading:
In Europe the lottery is y Government
institution as much as the t~ax-gatherer.
Germany, Australia, and Italy all have
lotteries that are a part of the Government
system. In Austria loans are contracted,
the interest being paid in prizes determin,
ed by lot, and almost every Austrian and
Italian purchase these tickets. The prin-
opal is paid by the Government at matur-
ity, and the interest is divided among
those making the loan. A man simply
lends the Government q hundred forms
ut five per cent. Instead of receiving five
tlorins interest, he and all the other hold
ers throw it into a pool, and five lucky
men draw the interest from a million OF
such loans. Which is to say, they prefer
to take a chance of receiving 100, 600
fiOrns to q certainty of receiving five. And
70 the hundred florins bonds lies from
year to year, in the hope of its eventually
making the holder an independent man.
The same system is vogue in New Or
leans. The city issues what are called
premium bonds" the interest being dis
tributed in blocks by lot. These bonds
4 NhArv all Nha n,n ~ AAka. gn..,-.N.an. ~
which interest is paid in the usual way,
in fact they are preferred.
The greatest lOtteryin the United States
is located in New Orleans, and this is how
it is.
The people Ufthe South, Louisiana espe-
cially, and New Orleans more especially,
have always been devoted patrons of the
lottery. Enormous sum were annually
sent abroad to Havana, Vienna, Rome and
everywhere else for tickets, all of which
told severely upon the OF the
State. Taking advantage of this tendency
of the people, irresponsible lottery compa-
MES were formed all over the State, which
were swindles of the cOmmonest order.
To remedy this, the Legislature of the
Strife in 1868 authorized the incorporation
of one lottery company, to be known as the
Louisiana State Lottery Company" with
i capital of 81, DOC, 900, and enacted that
this company should alone have the right
to prosecute the business within the State.
The methods of conducting the business
were all set forth with great eXactness,
and 4 certain percentage Of the profits were
required to be devoted to the support OF
the hospitals of the city; and it was also
provided that ali drawings should be con-
Quoted by a Board of Commissioners APP
pointed by the State.
Under this act the company was organ
lied ankits stock taken by the very best
citizens of the State, all classes of business
men being included in the list of stock
holders; and the best citizens accepting
position in its management. In 1879 the
same provisions were included i'll the re-
viSed Constitution Ofthe State, giving the
company the double seal of legality, LeglS-
latiye and Constitutional.
Under this charter, or rather charters,
the company has operated ever since. The
stock in the company is quoted regularly
upon the Stock Exchange; its stockholders
and those in the management from year to
year are among the best known business
men Of the city and State, men not only Of
recognized financial, but social position.
1t is essentially Il State institution. The
State hospital, one OF the largest, best con-
Quoted, and best equipped in the United
States, is supported by the company, not
by donation, but in pursuance OF a prOvi-
sion in its charter. The payments 10 the
hospital are made quarterly.
1t is a large contributor To every charity,
and it is the most important factor III the
material prosperity Of the city. Its stock
holders are planters, mill owners, sugar
r%eliners, and real estate owners, who have
an interest in the city and State greater
than any aSSOCiatSOn within its borders.
Consequently the company is the very cen
tire and heart OF all enterprises directed To
the development of the State. 1t is the
promoter of the various railroad enterprises
and manufacturing schemes which have
since the war done 50 much toward the tie
velopmcnt OF the Of the State.
The company has to-day Il larger capital
than any bank in the State, and its iinan-
cial resources are practically unlimited. No
one in New Orleans questions It's integrity.
No matter what may be thought Of the
morals of lotteries in the abstract, the
State of Louisiana believes in them, and 1t
has made Il giant corporation, and 50 hed%-
ell it around that it stands the scvereSt
possible tests.
The character and standing of those who
from time To time have been i'll it's man
-- 800, l..,, ..,t.rtinn.l nit hpr.
on the floor or in the press. 1t owes ITS
existence to a vote of the people OF the
State, who twice endorsed il, once by Il
majority OF go, 600 votes, and il is : hcdgcd
with safeguards that it possesses their en-
tire confidence. The managers know
nothing OF the drawingS-thc
Commissioners, who are really
State officials, have sole control Of every
detail. They have always actual posses
sion of every ballot placed i'll the wheels,
and they can reap no benefit whatever
from any drawing. Added to this source
of confidence is the additional fact that
men of the very highest commercial lnteg-
rity are active in it, owning Its stock anu
controlling its operations. There lSscarce-
w a banker or merchant i'll New Orleans
who is not directly interested IN IL, ana
they take rs much pride in its reputation
rs they do in their own private business.
The company own 4 very fine building
on st. Charles street, in which its vast
business is tranacted, and an army Of clerks
and accountants are required. II has the
appearance, internally and externally, Of 4
Systematically conducted bank, which 1t
really is, only it does more business than
any ten banks in the city.
This would be impossible IN the North
ern States. No merchant, s%hipowner,
or manufacturer in Boston would want 1t
known that he was concerned in n lottery,
even rs a ticket-buyer, much less rs a stock
holder or manager; while here in New Or
leans il is considered not only not diSrcp-
utable, but absolutely legitimate, as much
80 rs any other business. When the COM
many was organized and the stock placed
| upon the market, it was considered the
same rs any other stock; men of the high
est character, financially and socially, in
| vested in it, and went into its direction,
and il is managed with just rs nice 4 re-
gard to mercantile honor and commercial
integrity rs any stock company in the
, Nh. l;tIaranna hatyyepD ROStnO and