WHY NOT FINANCIALLY SUCCESSFUL. 79 



to breed low-priced animals. It is, therefore, only in 

 raising such animals as are of fine quality that we of 

 the Eastern States can find our reward. Here it is that 

 we see another reason why breeders have been unsuc- 

 cessful in their investments. They have bred on the 

 level of too low an average to make it pay. The prin- 

 ciple on which they acted, that low-priced stallions and 

 dams could produce high-priced colts, is a false one. 



I wish the reader to observe, then, that, while I main- 

 tain that breeding can be made in New England to yield 

 a liberal return for the money invested, it cannot be 

 made to do this save when it is conducted with knowl- 

 edge and understanding of those principles which insure 

 success. In brief, it is like any other business : it can be 

 conducted successfully only by those who understand it. 



The first thing, in order to do any thing, is to learn 

 Jiow to do it. 



