To the Government of Her Majesty Queen Wilhelmina the sum of more than half a million florins ($220,000) was left by Her Majesty's loyal subject Banker Johan Gerard Daniel Waterler with two stipulations:

1) If the Royal Government "should not find itself in a suitable position" to award the income from this money each year as a Peace Prize it should entrust the task to the Dutch-appointed directorate of the Palace of Peace (Carnegie Peace Foundation) at The Hague.

2) No matter who should make the award, every other Waterler Peace Prize must go...

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