ABSTRACT

The magnitude of the undertaking, and the great principles on which it rested, seem not to have been fully understood, and the public were very imperfectly prepared either to appreciate its advantages or to contribute to its support. A capitalist was therefore sought, and found willing to undertake the risk of the speculation, and terms were agreed upon, by which £20,000 was advanced for distribution in prizes, one of which was to amount to £5,000. 'l'his contract contained some singular stipulations, and formed the basis of the proceedings for several months. It contained also a clause by which, on certain conditions, it might be cancelled within a limited time.