The Washington times., 1915-06-15


der 1t in some way that would be OF no
benefit to him or his country.
In the prospectus of the lottery issued
by the bank this phase Of the matter Is
discussed with engaging frankness. 1t
never speaks of the affair as a lottery.
In fact, 1t distinctly djsclaims running
lottery. and refers always either to
baess or Sometimes or to t9
MUM bonds" What is the object of
issuing them? Read this from the
prospectus:
Object of the Lottery.
o "It is to encourage our country
men to cultivate the savings habit.
Money can be saved az this habit
Is gradually acquired. In the alb
scence of such habit money will
be unconsciously squandered. The
Issue of deposit premium bonds sure
ly affords the best attraction and
opportunity to the would-be money
saved.
Great hope may be cherished at
the drawing he may get back the z
principal after the lapse of three
years. There is no better method
of saving money than this"
Difrerentiating this scheme from lot
terry the prospectus says:
THE object of issuing lottery tick
cts is to obtain benefit for the party
who issues them, because, after de-
ducting the money paid for prizes, he
will receive a large surplus. Those
who win prizes will at once become
rich. while those who lose will not
be able to regain the money invested
therefore such operations may be
placed under the category of gam
bling.
"It's Not Gambling"
The proceeds thus obtained are
illegal acquisitions. and the enter
prise is considered by society as inn
moral. So in. most civilized count
tries the sale of such tickets has
been prohibited
This is not the case with the de-
posit premium bonds. The party
who issues them will apply all the
the interest accruing from the pro-
ceeds to the giving of premiums, re-
serving nothing for himself. The
purchasing party who wins q prize
will be enriched, and IL he loses ne
Will get back the principal he in
vested. Hence this Is not gambling"
That gives the official government ex-
PLANTATION. There are certain cynics In
peking who say of this explanation:
Good, but not enouGh.'
The Chinese government Is notortously
hard up. With its creditors IN Europe
others throats no further borrowings
arc at present possible from that source.
1 he ancient squeeze which accounts
for somefS0 per- cent of the revenues be-
, fore they reach the national treasury IL
an institution that even so strong q
man as Yuan Shih-Kai has not yet been
able to reduce materially.
Two Courses Open.
| The Chinese are great gamblers. and
the new scheme appealed to them tre-
mendously. So there was no difficulty
H. selling the entire million tickets In q
very short time.
The government has two courses
which 1t may pursue. 1t may use tho
| proceeds of the tickets itself. and pay
a less rate of interest than II would
have to pay to foreign lenders, or 1t can
lend the money at higher rate than !,
pRys and make a small squeeze for it.
self.
The prizes are obtained by simply
committing the interest. Ten millions
in China can be made to return more
than 100000 q year without much diff
ficulty.
The prizes aggregate slightly under
$5O0, 600. and the expenses of the draw
ing perhaps another hundred thousand
So the government stands to play apou'
even. as far as prizes or interest go
and 1t gets the use OF $9.bOoWo righ'
away, If that is what Is really desired
Moreover, 1t Is. announced that thcs'
. bends will be issued each year. Tha
. is a new series will be sold next year
II that Is done. the government VII
: soon have a tidy sum at its disposal.
Four Year Series.
!, For 1t Is not until the fourth yea
{ that each series Is to be paid on. Afte
three series had been sold one serie
, would have to be paid of each year
3 but the government would always haV'
$50, 900. 900 in its possession on which y
: keep the game going. That isn't muci
2 money, as money goes in the Unite'
e States. but 1t Is some money IN thi
e part Of the world.
Well, to get back from Chimes
e finance to the drawing of this iotter!
n that was no lottery. There being 2ss
!, terminal prizes. there remained 400
a numbered prizes to be drawn. On
}, tall frame at the front of the man
S pavilion hung the wooden pills bear
II ing numbers according to the prize
q thus to be drawn.
The terminal prizes would be deter
mined by the drawing of three of'thes
numbers. Consequently only a'oV
ticket numbers were to be drawn fror
the ten big copper globes containin
the 100000 pills each. That mede
:. pills from each globe, and three owe
v The censors determined by lot whic
- three Of the big globes should give u
an additional pill each.
~ 1t took full hour TO draw tne urI
w 200 prize winners, and not single prii
! of any special size came out durlr
N that time. The next hour was II
- same.
ot At length. after nearly three hour
- there was an exclamation from u
~ little group of officials about the sma
r globes, and everybody knew that one
le the big prizes was determined. lmm
n diately the pill number was read.
le was the third prize-$S0,0oo.
O. The drawing went on steadily al
I. without interruption, the men and DO,
% engaged In the work being relieved n
quently by fresh crews. By midalte
O. noon the Jam around the pavilion al
a in the grounds was tremendous, ana
er the gate into the grounds II was W.
n nigh impossible to advance at all.
a 1t was q great climax TO great oa
er when the Chinese government gave 9
official lesson to the Chinese peop
on the best method Of saving money.
The hrst prize did not drop into q
g. wicker basket until we'll along In u
gs afternoon. 1t was won by. syndlea
~ The ticket had been split into y