HOW TO MAKE MONEY BY HORSES. 181 



no way possess. If they are ridden for any length of 

 time by a recognised judge and rider, it is inferred, 

 nay, it is fact, that they must be good, or they could 

 not carry him ; and it is equally certain that having 

 carried him, they must be clever. ISTow, having car- 

 ried the other is no assurance of their being either ; 

 that is, no assurance strong enough to make people at 

 all anxious about the matter. jS'ow we will suppose 

 that seeing the latter carried in a superior manner, 

 induces the former person to purchase a horse that he 

 has seen carry his master, and that he induces him 

 to take his own horse in exchange ; mind you, he 

 loses considerably by the exchange, for the owner 

 of the horse will not sell unless he gets his price, and 

 will not buy unless he sees something in the horse 

 offered that he shrewdly suspects has not been made 

 the most of. They exchange. The purchaser does 

 not find that he is a whit better carried than he was 

 on his former horse, — he cannot make it out. In a 

 fortnight's time the purchaser of his horse appears on 

 him, and to his utter astonishment beats him on the 

 horse he sold. It would be ever thus in horses that 



