The Washington times., 1917-04-13
BRITAIN MAY START
Big BONDS LOTTERY
Government Is Considering Sug'
gestion Under Name OF
premium Loan"

LONDON, April 13.-England may
have some sort of a national lottery
within few months.
Premium bonds" they call 1t, but
that's only sugar coating.
The scheme is in effect a lottery,
and the idea is to hitch the gambling
instinct to the nations program for
financing the war. All the people
who have been studying 1t, no matter
what their ideas may be about the
morals, agree that IL would bring in a
tremendous amount of new money
from sources that are most difficult
to reach with ordinary investments.
1t isn't so long since the lottery
idea was perfectly regular as part
of the system of government finan-
cling, Not everybody has forgotten
that for considerable time after the
Revolutionary war many of the
raise money for various public pur-
poses. Money for internal improve
ments was scraped together in this
manner, and for a long time nobody
thought the worse of the improve
ments or cavilled at the plan.
The General Plan Considered.
No very definite idea has been pro-
mulgated by way of details for a gov
ernment lottery. But In a general
way IL is suggested that something
like this be undertaken:
A premium bond" issue OF. say,
$3.50. 100000 would be offered. The
bonds instead of drawing the 5 per
cent that is pledged on the recent
huge war loan would draw 21z or }
per cent At the outset there would
be set aside, say, 100000 as pre-
miums.
Everybody that bought a ticket
would get his share of the bonds. In
addition, he would get his proportion
ate chance in the drawing for the
prizes.
1t is suggested that the first prize
should be s500,00O: second, perhaps
$4,000; then a series of $1,000,
$1,000; then q series OF $4,000.
81, 1000. $500 and 500 ones. running
down, perhaps, to a long list of $50
remembrances; the whole series OF
prizes aggregsting the 100000 or
whatever other amount might be Sc,
aside for this. purpose.
The difference in rates OF interest
would be sufficient to pay the prizes.
through the Governments saving; in
fact, Il has been calculated by some
OF the advocates of the scheme that
IL could be made to pay the premiums
several times over. There would be
drawings at fixed intervals, the prop
er Government functionaries oversee
ing the business.
For. the time being, this lottery
program Is hung up because the i'm
mense success of the recent war loan.
now calculated to have raised about
-, ,000, 900 900 from more than 1000, 900
investors, has provided for national
requirements for a considerable time.
But IL the war has to be carried into
next summer there will be need for
all the money the public can be in
duced to bring In.
DemoraIi.lng, but ProaitabIe.
The beEt proof Of the money rails
ing possibilities OF the lottery plan
may be seen in. the interest that 10
taken In discussion OF It. Americans
Of a short generations recollection
will not need to be reminded what
an army OF confirmed lottery patrons
there were when the old Louisiana
Lottery was running. Thousands OF
persons bought lottery tickets as
regular investments for some pretty
definIte part of their surplus in
comes; some of them were even of
the careful class that was wont to
invest the rest in regular. legitimate
ways.
There is a bigger gambling class In
England than in America Racing Is
almost extinct as q gambling sport,
and the race track following would
be instantly interested in the chances
of the great drawing. 1t would be
demoralizing business, but without
doubt 1t would bring in vast sums
from the savings of people who pay
little attention to the possibilities OF
these war investments In the regular
form.