HOW TO MAKE MONEY BY HOESES. 49 



might show himself. But who would be weak 

 enough to suffer in pocket (and if a bad judge, in 

 hopes) by the first and second generation, when he 

 can find mares that from such generations have be- 

 come themselves three-parts, or seven-eighths, bred ? 

 Let the breeder avail himself of the simplicity of 

 him who originally bred from such stock, and wisely 

 buy a descendant of five or six generations from the 

 original dam. He, figuratively speaking, at once 

 steps on the top round of the ladder, that has cost 

 others much in its construction. 



There is in all things a vast difference between 

 doing what we undertake with a prudent eye to 

 economy, and doing the same thing with direct 

 parsimony: it is often virtually economical to ex- 

 pend a considerable sum, and it is in its way prodi- 

 gal to expend a very small amount, if that sura does 

 not produce an equivalent return. ^Tiere judgment 

 shows itself conspicuous, is in not hesitating in the 

 disbursement of money where a liberal return is to 

 be anticipated, and not, on the other hand, to be led 

 away by the frequent error of supposing that if ap- 



