HOW TO MAKE iTONEY BY HOESES. 63 



There is one drawback in the colt's favour, as re- 

 gards the sum I have, on rough calculation, set 

 down as his cost : this is, I have calculated provender 

 at the usual price at which it is bought ; but as the 

 breeder would probably grow it himself, it is but 

 fair to reckon it at the cost price to him ; but, on the 

 other hand, he could sell it at a profit : if the colt 

 eats it, he virtually eats that profit, so, after all, I 

 was not far wrong in charging what I have to the 

 colt's account. 



I suppose young four years' old treated as I have 

 mentioned, to become really fine young horses, and 

 that they will fetch from eighty to a hundred and 

 thirty pounds, the outlay on them has only been 

 about ninety-five pounds, or thereabouts. Now, all 

 this outlay has not been dormant for four years, but 

 only the smallest portion of the sum ; for instance, 

 the twenty-five pounds for the last year only loses 

 one year's interest of money ; so, calculating that 

 ninety-five pounds has lost two years' interest, if the 

 colt produces thirty pounds' profit, this is pretty 

 good interest for money, somewhere about sixteen 



