CHAPTER XVI. LOTTERIES AND LOTTERY INSURANCES.

secure shares in this great and liberal undertaking on the part of a beneficent Legislature, that Mercers’ Hall was literally crowded, and the clerks were found incompetent to receive the influx of names. Six hundred thousand pounds was subscribed by January 21; and on the 28th of February the required amount of a million and a half had been taken out in shares. This rage for speculation had much to do with the success of the South-Sea Bubble, which was attended by myriad smaller bubbles that in the grand collapse of the most magnificent swindle of modern times have been quite forgotten. But many large fortunes were made by small means. In the height of the speculative fever, hardly a day, certainly not a week, passed without fresh projects, recommended by pompous paragraphs in the newspapers, directing where to subscribe to them. On some six per cent. was paid down, on others one shilling per thousand at the time of subscribing. Some of the obscure keepers of these books of subscription, contenting themselves with what they had netted in the morning, by the registration of one or two millions, disappeared in the afternoon, the rooms they had hired being shut up, and they and their subscription-books being never heard of more. On others of these projects, two shillings, and two-and-sixpence, were paid down; for some few even half a sovereign per cent. was deposited, but this was only in the case of those who could find some person of standing to recommend them in Exchange Alley. Some were divided into shares instead of hundreds and thousands, upon each of which so much was paid down. Any impudent impostor, while the delusion was at its