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three years, and though I have let him at three 

 Sfuineas for half-bred mares, I have not had more 

 than five mares in a year. This shows that there is 

 very great difficulty in bringing this subject to the 

 front. I hope that something will be the outcome 

 of the Show to be held this week. I should be very 

 glad if I can give you further information on the 

 subject. 



Sir Jacob Wilson : I can assure you I came 

 here with the sole purpose of being a listener and 

 a learner, and, like many others, I have not come in 

 vain. The subject is one which, undoubtedly, in 

 the public mind, is ripe for action, and I feel confident 

 that the future (which I believe will be a great future) 

 will take its commencement from the excellent Paper 

 read by Mr. Walter Gilbey this evening. 



It has been said very properly that the whole 

 question is one of supply and demand ; but, unfor- 

 tunately, it is the competition between English 

 private enterprise and means and the money of 

 foreign governments ; and, the only way, therefore, 

 to fight this batde is to fight it upon the principle 

 of supply and demand, and with the weapons em- 

 ployed by the foreigners. You must outbid the 

 foreigner if you want to keep your good horses 

 and mares at home. It is impossible for one moment 

 to think that you can impose any tax or fiscal 

 embargo against the exportation of mares from this 

 country. Foreigners have a double motive in buying 



