522 HISTORY OF THE 



who do ; those who, not being breeders them- 

 selves, run horses which they have purchased as 

 yearUngs or in training; and lastly, the *' motley 

 crew," who, having no horses of their own, busy 

 themselves in observing and betting upon the 

 performances of those belonging to others. 



At present, we confine ourselves to the breeders, 

 and before proceeding with our subject, venture 

 to express an opinion that the owners of large 

 studs actively engaged on the turf, would find it 

 more to their advantage to breed, than to purchase 

 their horses. It may, we are aware, be retorted 

 on us, that the purchaser is certain of some return 

 for his money, as he gets his colt or filly ; while 

 the breeder, after incurring a great expense on the 

 mare, must sometimes be disappointed, by receiv- 

 ing no produce. Against this, we must bear in 

 mind, how frequently the purchaser pays " too 

 dear for his fiddle," and, indeed, as it often turns 

 out, would have been a gainer by losing the pur- 

 chase money, and sometimes considerably more, 

 by the death of the animal on the first day of its 

 coming into his possession. 



It is true, that the same contingency may arise 

 with the breeder who runs his own horses, but 

 by no means to the same extent; for expenses 

 incurred by a breeder in obtaining his racing-stock, 

 cannot for one moment be compared with those 

 of the purchaser, who has to begin with the 



