Source : Webster's Revised Unabridged Dictionary (1913)

Nobel prizes \No*bel" prizes\
   Prizes for the encouragement of men and women who work for
   the interests of humanity, established by the will of A. B.
   Nobel (1833-96), the Swedish inventor of dynamite, who left
   his entire estate for this purpose. They are awarded yearly
   for what is regarded as the most important work during the
   year in physics, chemistry, medicine or physiology,
   idealistic literature, and service in the interest of peace.
   The prizes, averaging $40,000 each, were first awarded in
   1901.