'Two-Tear-Old Racing 207 



vexatious proposition. She gives rich handicaps for horses of mature age and almost 

 nothing for two-year-olds, in consequence many of their best youngsters are barely 

 broken to ride at that age and frequently not trained until the fall they are three. Panic 

 was imported from England as a yearling and never was trained till he was six, when 

 he went out and won the Champion Race, three miles, with 134 pounds on him. How 

 many Americans would wait that long to get their money back out of a horse? In the 

 big two-year-old events of America, such as the Futurity and Matron Stakes, there is a 

 pandering to the rich man's greed, always greed and nothing else but greed. 



Thus I close the editorial portion of this book. It has been, including the pre- 

 paratory labor essential to its issuance, the work of four long years ; and it is reserved 

 for the breeders of America, as well as those who race for sentiment and for the repu- 

 tation of their stock, to say whether I have made a signal success of it or an ignominious 

 failure. I therefore lay down my pen, fully content to leave the work to the verdict 

 of the people. My experience of seventy years in this breathing world has taught me 

 that the people are always honest, generally right and never unpopular. 



THOS. B. MERRY. 



Los Angeles, November 15th, 1904. 



