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It is perhaps, however, when we leave questions of breeding and come to those of form, that we realise most fully the amazing intellectualism of the betting life. In the study of form we are faced by problems that can be solved only by the higher algebra. Thus, if Jehoshaphat, carrying 7 st., ran third to Jezebel, carrying 8 st. 4 lb., in a mile race, and Jezebel, carrying 8 st. 4 lb., was beaten by a neck by Woman and Wine, carrying 7 st. 9 lb., over a mile and a quarter, and Woman and Wine, carrying 8 st. 1 lb., was beaten by Tom Thumb, carrying 9 st. in a mile 120 yds., and Tom Thumb, carrying 9 st. 7 lb., was beaten by Jehoshaphat over seven furlongs, we have to calculate what chance Tom Thumb has of beating Jezebel in a race of a mile and a half on a wet day. There are men to whom such calculations may come easy. To Mr Asquith they are probably child’s play. For myself, I shrink from them and, if I were a betting man, would no doubt in sheer desperation be driven back on the method of pin and pencil. But it is obvious that the sincere betting man has to make such calculations daily. Every morning the student of form finds his sporting page full of such lists as the following:–

0 0 0 CONCLUSIVE (7-5), Kroonstad-Conclusion. 8th of 9 to Poltava (gave 17lb.) Gatwick May (6f) and 7th of 19 to Orby’s Pride (rec 4lb) Kempton May (5f).

3 3 3 RAPIERE (7-4), Sunder–Gourouli. Lost 3-4 length and 3 lengths to Bantry (gave 2lb) and Marcia (rec 7lb) Newmarket May (1m), GOLDEN GUINEA (gave 20lb) not in first 9. See BLACK JESS.

0 0 4 ROYAL BLUE (7-0), Prince Palatine–China Blue. See NORTHERN LIGHT.

0 2 0 BLACK JESS (6-11), Black Jester–Diving Bell. Not in first 4 to St Corentin (gave 121b) Lingfield last week (7f). Here Ap. (7f) lost 3 lengths to Victory Speech (rec 1lb), RAPIERE (gave 13lb, favourite) � length off.

0 LLAMA (6-11), Isard II.–Laughing Mirror. Nowhere to Silver Jug (gave 15lb) Newbury Ap. (7f).

Is not a page of Thucydides simpler? Is Persius himself more succinct or obscure? Our teachers used to apologise for teaching us Latin grammar and mathematics by telling us that they were good mental gymnastics. If education is only a matter of mental gymnastics, however, I should recommend horse-racing as an ideal study for young boys and girls. The sole objection to it is that it is so engrossing; it might absorb the whole energies of the child. The safety of Latin grammar lies in its dullness. No child is tempted by it into forgetting that there are other duties in life besides mental gymnastics. Horse-racing, on the other hand, comes into our lives with the effect of a religious conversion. It is the greatest monopolist among the pleasures. It affects men’s conversation. It affects their entire outlook. The betting man’s is a dedicated life. Even books have a new meaning for him. The Ring and the Book–it is his one and only epic. And it is the most intellectual of epics. That is my point.