From Diamonds, Gold, and War: The British, the Boers, and the Making of South Africa, by Martin Meredith (PublicAffairs, 2008), Kindle pp. 382-383:
Rhodes was often troubled by premonitions of an early death. It prompted him to write a series of wills with grandiose notions intended to ensure his personal immortality. In his first will, drawn up in 1877 while he was a student at Oxford, he instructed his executors to establish a secret society with the aim of extending British rule throughout the world, restoring Anglo-Saxon unity and creating ‘a power so great as to render wars impossible’. His next four wills - in 1882, 1888, 1891 and 1892 - followed much the same theme; in a covering letter to his 1888 will, he suggested to Lord Rothschild that he should use the constitution of the Jesuits as a template for a secret society, inserting ‘English Empire’ in place of ‘Roman Catholic Religion’.
In 1899, at the age of forty-five, sensing he had not long to live, he drew up his seventh and final will, refining his previous ‘great idea’ into something more practical. He made bequests to members of his family and to his Oxford college, Oriel; and he directed that Groote Schuur should be used as the official residence for future prime ministers of a federal South Africa. But his main ‘great idea’ focused on the education of young colonists. He gave instructions for scholarships to be awarded to suitable colonial candidates to study at Oxford, stipulating the qualifications they needed. In the first place, only men were eligible. Discussing other necessary qualifications with W. T. Stead in London, Rhodes envisaged a points system:
You know I am all against letting the scholarships merely to people who swot over books, who have spent all their time over Latin and Greek. But you must allow for that element which I call ‘smug’, and which means scholarship. That is to stand for four-tenths. Then there is ‘brutality’ which stands for two-tenths. Then there is tact and leadership, again two-tenths, and then there is ‘unctuous rectitude’, two-tenths. That makes up the whole. You see how it works.
In the terminology he finally used, Rhodes instructed points to be awarded for: literary and scholastic attainments; success in ‘manly outdoor sports’; ‘qualities of manhood’, including devotion to duty, protection of the weak, and unselfishness; and ‘moral force of character’. He listed fifteen colonies from which sixty scholars from the British Empire were to be drawn; and he added a further ninety-six scholarships for students from the United States. After meeting Kaiser Wilhelm in 1899, Rhodes allocated fifteen scholarships to German students.