THE L. S. D. OF THE TURF. 69 



fortune that may attend individuals, it is, as has 

 been demonstrated, an undoubted fact that the 

 cost of racing in any one year is far beyond the 

 total amount which can be won. 



The foregoing facts and figures must not be 

 taken for more than they are worth, they are 

 simply offered as being more or less illustrative 

 of the L. S. D. of horse-racing, and the simplest 

 methods of illustration have been resorted to. 

 Columns of figures on the subject might have 

 been given for the inspection of the reader ; 

 but probably the mode adopted will give a better 

 idea of the L. S. D. of the turf (betting excepted), 

 and the facts briefly stated may make a more 

 lasting impression than a more formal statement 

 would do. 



What must be kept well in mind in connection 

 with racing finance, is the great fact that the 

 money expended is not hid away in a napkin, 

 but is circulated. Stables and stores have to 

 be built or extended, hay and corn has to be 

 provided for the horses, the lads who groom them 

 and ride them at exercise have to be paid, so have 

 the fees of the jockeys who ride them ; travelling 

 expenses of horses, trainers, and jockeys help 

 to swell railway receipts, and to augment the 

 dividends of not a few who look with horror on 

 the turf and the ways of life of those connected 

 with it. 



It has been calculated, for instance, that no 

 less than £120,000 will be expended on the 

 Derby Day by visitors to London and Epsom 

 in travelling and personal expenses {i.e., eating 

 and drinking), and there are at least 250 days 



