The New Student's Reference Work/Nobel Fund, The

No′bel Fund, The, is a fund of $9,200,000 which was founded by Alfred Bernard Nobel, the famous Swedish inventor, for the purpose of providing five annual prizes. Nobel took out the first patent for the manufacture of nitroglycerine in 1863, and in 1867 he invented one of the most useful of explosives, dynamite. The objects for which his prizes are given are these: the most important discovery in physics, the most important discovery in chemistry, the most important discovery in medical science, the work of best literary genius and the best contribution to universal peace. The first awards were made in 1901. The peace-prize was awarded in 1907 to President Roosevelt of the United States of America.