At dessert Calsabigi begged me to give him my opinion of a scheme he had drafted, the aim of which was to bring in a sum of two million crowns, so that the credit of the lottery might remain secure.

The lady left us to talk business at our ease.  She was between twenty-four and twenty-five, and without having much wit she possessed a great knowledge of the usages of society, which is better than wit in a woman; in fine, she had all that a man could well desire.  The sentiments I felt for her were confined to those of friendship and esteem after the confidence she had placed in me.

Calsabigi’s project was brief, but clear and well imagined.  He invited capitalists not to speculate in the lottery, but to guarantee it for a certain sum.  In the case of the lottery’s losing, each guarantor would have to share in paying according to the sum named, and in like manner they would share in the profits.

I promised to give him my opinion in writing by the next day, and I substituted the following plan for his: 

1.  A capital of a million, would, I judged, be ample.

2.  This million should be divided into a hundred shares of ten thousand crowns each.

3.  Each share must be taken up before a notary, who would answer for the shareholder’s solvency.

4.  All dividends to be paid the third day after the drawing.

5.  In case of loss the shareholder to renew his share.

6.  A cashier, chosen by a majority of four-fifths of the shareholders, to have the control of all moneys.

7.  Winning tickets to be paid the day after the drawing.

8.  On the eve of a drawing the shareholders’ cashier to have an account of receipts from the lottery cashier, and the former to lock the safe with three keys, one of which to remain in his hands, one in the hands of the lottery cashier, and one in the hands of the manager of the lottery.

9.  Only the simple drawing, the ambe and the terne to be retained; the quarterne and the quine to be abolished.

10.  On the three combinations a shilling to be the minimum, and a crown the maximum stake; the offices to be closed twenty-four hours before the drawing.

11.  Ten per cent. to go to Calsabigi, the manager; all expenses of farming to be paid by him.

12.  Calsabigi to be entitled to the possession of two shares, without a guarantee being required.

I saw by Calsabigi’s face that the plan did not please him, but I told him that he would not get shareholders save on these terms, or on terms even less favourable to himself.

He had degraded the lottery to the level of biribi; his luxury and extravagance caused him to be distrusted; it was known that he was head over ears in debt, and the king could not banish the fear that he would be cheated in spite of the keenness of his comptroller-general.

The last drawing under the king’s sanction made everyone in good spirits, for the lottery lost twenty thousand crowns.  The king sent the money immediately by a privy councillor, but it was said, when he heard the result of the drawing, that he burst out laughing, observing,—­