- Million Lottery
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Million Bank chest, specially designed to hold tickets from the Million Lottery
The Million Lottery was the first English State Lottery and was launched by the government in 1694.
In order to raise money for the Exchequer 100,000 £10 tickets were offered for sale as one of a series of measures to raise revenue to allow English participation in the Nine Years' War against France. Other financial innovations included the granting of a Royal Charter to the Bank of England and the creation of the country's first national debt.
The 'Bank on Tickets of the Million Adventure' or Million Bank was established in 1695 to manage the assets of subscribers.[1] In 1699 all other lotteries in England were banned but 42 further lotteries were run on the same basis until 1768. [2]
In an ostentatious demonstration of security, tickets for the lottery were kept in special chests with 18 locks.
References
- ^ "C 46". The National Archives catalogue. http://www.nationalarchives.gov.uk/catalogue/displaycataloguedetails.asp?CATLN=3&CATID=2045&SearchInit=4&SearchType=6&CATREF=c+46. Retrieved 7 September 2011.
- ^ "Lottery Office Records". The National Archives catalogue. http://www.nationalarchives.gov.uk/catalogue/DisplayCatalogueDetails.asp?CATID=599&CATLN=2&FullDetails=True&accessmethod=7. Retrieved 7 September 2011.
Categories:- Lotteries
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