Page:History of the University of Pennsylvania - Montgomery (1900).djvu/380

376 amounted to 5442.3.4 ; of which sum 3376. 1 2.4 had been real- ised before the close of the year 1753. To these may be added the contribution in 1753 of the City Council of 200, and their five years annuity of 100; the Proprietaries' gift of 500 on granting the charter ; the proceeds, namely 184.5.111/2, of Rev. George Whitefield's Charity Sermon of September, 1754; and Henry Wright's principal of his annuity amounting to 300, granted in I759. 1 But the Trustees soon realised that the ordi- nary channels of income could not meet their engagements, even with an occasional special effort. And Lotteries were resorted to as early as 1757, and this source of revenue through seven Lot- teries in all for as many years was well cultivated. To the end of the year 1761, the sum of 6781. 17.2 had thus been gathered. It was an age of Lotteries, when all needy institutions, churches included, sought this fictitious and abused system as a means of drawing money from their fellow citizens for needed wants under the deceit of offering them chances of gain. Their first scheme was advertised in the Gazette of 17 March, 1757, and introduced by a statement : the necessary expenses of this Institution, the constant support of two Charity Schools in it ; the late enlargement of the design by opening schools for Philosophy and the Sciences ; the purchasing a compleat appa- ratus for experiments therein, and fitting up the publick Hall for accom- modating the Inhabitants at Commencements and other publick occasions, [and they] were entirely sensible that no Institution of such extensive 1 " Dr. Smith acquainted the Trustees that one Mr. Henry Wright, of this city.Whipmaker, to whom he was a stranger, had sent for him and acquainted him that finding himself out of order and having of a long time intended to give his little Estate to the Academy he desired some of the Trustees might be told of it and come to assist him to draw such Writings as should be thought necessary for that purpose, that thereupon Mr. Chew and Mr. Alexander Stedman waited on him and an Instru- ment was drawn at his special direction wherein he acknowledged to have given to the Trustees Three Hundred Pounds Currency for the use of the Academy and is to receive from them if demanded an Annuity of Thirty Pounds per Annum but for no longer time than until the several Yearly Payments shall amount to the said sum of Three Hundred Pounds." Minutes 14 December, 1759. At the meeting of 8 Janu- ary, 1760, report was made of the proper exchange of papers at which Mr. Wright ' was extremely pleased and told them as he found himself on the Recovery he would continue to keep shop and hoped to augment the sum already given for this useful Institution."