PROPOSED STATE LOTTERY.

New Zealand Herald, Volume XLIII, Issue 13305, 11 October 1906, Page 7

PROPOSED STATE LOTTERY.

* : Apropos of the present discussion, on in© gambling evil, Mr. W. S. Aickin sends ls a, copy of a letter which he sent to the late Premier of the colony. in 1903 suggesting a plan of a State lottery for raising loans. It is as follows: — v .. . . Sir,—Enclosed to' plan of a State lottery for raising loans; in reality, another mode of notation upon current, terms, the only difference being that a tempting inducement to invest is held out to the public. A further advantage of tins scheme to that the greater proportion of loan and annua! interest would remain in the colony. I sav proportion because folk not only in Australasia. but England, might be tempted to trv their luck in a lottery where there are several small fortunes, which must go to someone,. and risk is impossible. I have just this day formulated the scheme, which is a lottery only in name, risk being confined to the 3800 prizes—l have (lie honour to be, sir, your obedient servant, WM. S. Aickik. Right Hon. Richard J. Seddon, P.C.,

Wellington. .... .... ~ The Scheme: Seeing that it will bo difficult, almost impossible, to float loans in the near future, and believing that the gambling spirit, inherent more or less in all of, us,, and especially conspicuous in those who drive the world ahead, might be utilised' for the benefit of the country, I have been thinking of a plan whereby the Government might raise money and the gambling spirit be diverted from a baneful into a useful channel, therefore I would submit the following suggestion to you for consideration as a. germ idea, subject to modification to suit circumstances. You cannot raise a 3 per cent, loan at lew than 90 net. if at all. But the people are not povertystricken; they only want to be tempted. That being so, start a State lottery of 50-year 3 per cents, to net you £900,0C0, the same terms ,as recent flotations, the remaining £100,000 to go to expenses and prizes. Considering that every ticket holder would have the State guarantee for his £1 and annual interest of 3 per'cent., the following should be sufficiently tempting .-One prize £5000. one prize three prizes of £1000 (£3000), 20 prizes o £500 £10.000), 25 prizes of £200 (£SOOO ~100 prizes of £100 (£10,000). 200 prizes of £50 (£10,000). 200 prizes of £25 (£5000), 250 prizes of £10 (£2500), 500 prizes of £5 £2500 2500 prizes of £2 (£5000). Thus we have 3800 prizes, trailing £60,000. leaving £40,000 for advertising and other expenses. The argument that the ballot is an incentive to dishonesty and theft would not avail here, for nobody need lob his master's till, as in a lottery where there are few prizes and many blanks. In this scheme here l are no blanks, but £ for £, besides the chance amongst 3300 prizes, ranging from £5000 to £2- . . ..