Records Reveal Harvard Lottery to Bolster Early Building Funds--Stoughton and Holworthy Owe Existence to Tickets

In this day of highly-organized alumni associations and million dollar endowment funds, the discovery that in raising funds for the erection of Stoughton and Holworthy Halls it was necessary to resort to lotteries is of considerable interest.

A search through various records of almost forgotten events disclose the fact that in the period of financial depression following the Revolution lotteries were a fairly common means of obtaining large amounts of money.

In 1794, the General Court of Massachusetts, in response to a request from the Corporation of the University, issued a grant of lottery, allowing Harvard to raise a sum of 8,000 pounds. But operations were sluggish, and with the money drifting in slowly, it was not until 1804 that the college had sufficient funds to start work on Stoughton Hall. The total cost was $23,700, $18,400 coming from the proceeds of the lottery and $5,300 from the general funds of the college.

Later, in 1810, the Corporation asked the Legislature to issue a grant for another lottery. In presenting its case, the college pointed out is absolute lack of money after the erection of Stoughton Hall and repairs made on Massachusetts Hall. With the granting of their plea, the University authorities set about their task of raising $30,000. The cost of running the lottery ran up as high as $24,500, but it netted $29,000, just 1,000 dollars short of the original goal. The hall is named after Sir Matthew Holworthy, who gave more money to Harvard University during the 17th century than any other man.