In 1758, the Royal Society of Arts (formally, the "Society instituted at London for the Encouragement of Arts, Manufactures and Commerce") sought to incentivize agricultural innovation and cultivation in the North American colonies by offering a "premium"—or cash award—of 100 British pounds (£100) for the planting of vineyards and the production of "five tuns of red or white wine of acceptable quality." The initial award was unclaimed by 1762, and the Society augmented the bounty to £200 if the goal were reached by a colonial farmer by 1770 adding that at least five hundred vines should be planted and the wine produced equal "those Sorts of Wines now consumed in Great Britain."