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History of the Nobel Prize Foundation

History of the Nobel Prize Foundation

“…The whole of my remaining realizable estate shall be dealt with in the following way: the capital, invested in safe securities by my executors, shall constitute a fund, the interest on which shall be annually distributed in the form of prizes to those who, during the preceding year, shall have conferred the greatest benefit on mankind. The said interest shall be divided into five equal parts, which shall be apportioned as follows: one part to the person who shall have made the most important discovery or invention within the field of physics; one part to the person who shall have made the most important chemical discovery or improvement; one part to the person who shall have made the most important discovery within the domain of physiology or medicine; one part to the person who shall have produced in the field of literature the most outstanding work in an ideal direction; and one part to the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses. The prizes for physics and chemistry shall be awarded by the Swedish Academy of Sciences; that for physiological or medicinal work by the Caroline Institute in Stockholm; that for literature by the Academy in Stockholm, and that for champions of peace by a committee of five persons to be elected by the Norwegian Storting. It is my express wish that in awarding the prizes no consideration whatever shall be given to the nationality of the candidates, but that the most worthy shall receive the prize, whether he be a Scandinavian or not.”

Based on the exact words of Alfred Nobel’s will, the Nobel Prize Foundation was established in 1900. Alfred Nobel was born in Stockholm on October 21, 1883. His father Immanuel Nobel built bridges in Stockholm, and was an engineer and inventor. At the time of Alfred’s birth, Immanuel had to go into bankruptcy due to misfortunes in his construction work. In 1837, Immanuel left his family and Stockholm to start a new career in Finland and Russia. To support the family that was left, Andrietta Nobel, Alfred’s mother, started a grocery store that provided a modest family income. Meanwhile, Immanuel had become successful in St. Petersburg, Russia, by starting a mechanical workshop, which provided...

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Category:   History

Length:   16 pages (3,506 words)

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