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1386 T H E LEAD E R. [No. 456, December ...
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POLITICS OF THE TURF. What Japan is to E...
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THOTOHTS, TACTS, AND SUGGESTIONS ON P AE...
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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French Finance. — The Money Market. What...
Jfl 49-52 , from France , relieved the French markets , and prevented those complaints of ruin from low prices which the French made a few years before fry & e mouth of Marshal Bugeaud . Through all the Variations of the French grain markets under the restrictive system , which Save been very great , the agriculturists of France have been generally contented , as if the possession of land reconciled them to the evils of which tenant and high rent-paying farmers in other countries have so loudly complaiiied . For three years their crops have been defective , but they have found relief in the
increased demand at home . At present they , like oar farmers in the two last years , have the double advantage of good crops and good prices . Not only com , but wine , oil , and suk , are now tolerably abundant in France , and at present therefore the bulk of the French are , and are likely to remain , wexj contented . They are well off , and their modern . history is full of proofs that they never become revolutionary tul they are deeply distressed . Such { acts , though too little noticed by those who believe that the proceedings of Governments are sufficient to account for all the changes in society , are well worthy of the attention of politicians . Xfrervthine depends on the social condition of a
people , and however wretched and enslaved is the political condition of the French , they are now in a better social condition than at any period since the first Bevolutton . We could only despair , however , of the fortunes of the w . kole race , did improvejBaenis in the social condition of men lead , as some « uppose , to a deterioration of their political condition . Modern history teaches a totally different lesson . The .. steady promoters and defenders of freedom have been the inhabitants of towns , and they have been the foremost in all social
improvements . Now , to say one word as to the influence of these circumstances on the money market . They « 11 tend to show that , of late years , capital has increased unusually fast . All the Governments of Europe have been enabled to increase their expen-< liture very considerably , and , at the same time , almost every kind of industry has everywhere prospered . We say this while thoroughly aware of the temporary check from which many branches of trade are now suffering . In these few years ,
howeveiv notwithstanding the increase of capital , " the demand for it has been so great that the rate of commercial discount has been , higher through a long period than has been before known in England vithin memory . It is obvious , however , that this freat demand for capital which prevailed between 852 and 1857 was occasioned b y the great stimulus given to enterprise by the gold discoveries and the war demands of Governments . These latter have for the present ceased , and arc not likely apparently again to be renewed ; the former other dis
it is impossible to renew . Even gold - coveries as rioh as those of California and Australia would not excite the same fervour of enterprise , "There is no cessation , however , to the increase of ¦ capital , on the contrary , little or none is now wasted on unproductive enterprises ; saving has become . almost universal , and , at the same time , these great demands for it have ceased . Only for ordinary and customary undertakings—providing us with food , . shelter , and clothing , with some few new enterprises , laying down telegraphs and making rails - — ¦ will capital now be demandedand with only the
, ordinary businesses : inactivity , the ordinary and -customary rate of profit , determined , in the long run , by the demand for subsistence and dilii--culty of procuring it , will or can be paid . Immense gains , such as those made in Australia , will not be made in the great works of supplying the food and clothing ana the customary enjoyments of people ; accordingly , profits will not bo high , and the rate of interest cannot be high . Ae Governments Arc not likely to make fresh demands , no other or better than private security , except in those rare cases in which Governments lend a guarantee to
: some enterprises , can be given for loans . Private security , however , at present is of a doubtful character j credit has been shaken , and though on this account when money is borrowed higher terms will toavp to be paid for it , on this account , also , a very aauph less sum on the whole will be borrowed . On the one hand there is a rapid increase of capital ; on the other there is , both from the oessation of the demands of Governments and the defective demands of private enterprise * a diminished demand for capital . We look , therefore , foi tke continuauoe of an easy money-market and for such a rate of interest as the diminished profit on business with a doubtful security can pay .
1386 T H E Lead E R. [No. 456, December ...
1386 T H E LEAD E R . [ No . 456 , December 18 , 1858 .
Politics Of The Turf. What Japan Is To E...
POLITICS OF THE TURF . What Japan is to Europe , what Al mack ' s is to Glerkenwell , what Paradise is to the Peri , the Turf is to us common men . We who go down to Epsom by the rail , who do not know the name of the favourite till we get on the course , and forget it by the time we get back to town , look with simple reverence upon the aristocratic patrons of the turf as on beings of a superior class . It is not given to the profane vulgar to penetrate the mysteries of the " Olympian games . " Let us stand aloof and catch whatever faiut glimpses are vouchsafed to us of those exalted regions in which the blue ribbon of the turf is lost and won . It is some consolation
to us , of the inferior orders , to reflect that even in the Olympian world all is not harmpny . There are there , as elsewhere , two sides to the picture—two different aspects of the scene , according as you happen to stand before or behind the curtain . The princess with her glass shoes in the coach-andfour was not a greater contrast to Cinderella in the ashes than the sporting world at Epsom in its glory is to the same world in its difficulties before our courts of law . Perhaps , however , the force of the contrast arises from the imperfection of our mental vision . Evil , according to the Emersonian creed , is only a lower form , of good , and it may be that the betting blackleg is only an inferior development of the sporting peer .
The first scene of sporting life to which we are introduced by our legal Asmodeus is the racecourse of Liverpool . The plot , like that of all great dramas , is simple , the actors few iu number . A Mr- Sinclair is the villain of the piece ; a Captain Shaw is the virtuous victim . Mr . Sinclair , according to his own confession , is a betliug man , and lives upon his wits , or upon his neighbours ' want of wits , whichever the case may be . He is ready to lay the odds against anything , but being of frugal habits , resides in an apartment which costs him only the moderate sum of six . shillings and sixpence weekly . His available assets were twentyfive shillings , a pair of dice with which he recreated his mind out of business hours , and a wife who possessed an allowance . Captain Shaw , by virtue
of her Majesty ' s commissiou , is , or rather was , an officer and a gentleman , is also upon the turf , and risks his brains , or in default thereof his neck , by riding in steeple-chases . The gallant captain being present at Liverpool , and anxious to back a horse called Eugleaiere at one of the local races , observed Mr . Sinclair in the crowd , offering the odds according to his wont and custom . " With military impetuosity the captain took two to one from the stranger in ten-pound notes . The race was ruu , Englemere did not come in first , and Captain Shaw and his money were soon parted . Scarcely had the ten-pound note changed hands when it was discovered that the nice , owing to some irregularity , was to he run again . This . time Eiiglemoreca . no in victorious ; but , alas ! Mr . Sinclair considered it was more blessed to receive than to
give , and was not forthcoming . So ended the first act . The second opened some four months later at Brixworth races . Captain Shaw and Mr . Sinclair were both on the spot , pursuing their usual avocations . Once again they met — 'twas in a crowd —and Captain Shaw ' s eyes were upon Mr . Sinclair . The captain demanded the return of his money ; Mr . Sinclair offered a composition of about ninepence in the pound , which was indignantly refused , and finally retired from the ring under the escort ot a policeman , The stern official exceeded his duty , and marched Mr . Sinclair off to Northampton ,
loaded with a pair of handcuffs . Captain blmw failed to prosecute , the charge was dismissed , and Mr . Sinclair brought an action for false imprisonment , and obtained 101 . damages . Sympathy for cither plaintiff or defendant is out of place . Mr . Sinclair has got his roymrd , Captain Shaw is a poorer , and wo trust , a wiser man , out , to our ignoranoo , the moral of the story is plain enough : What business had a man of station and education to bet with a man without moans or character P There is one thing worse than losing money on the turf , and that is , winning money from a Sinclair .
Our next episode of the * turf introduces us to a higher sphere . We breathe a purer atmosphere , an aristocratic fragrance pervades our senses , wo loso sight of our ordinary standards . In tho presence of Honry SomorBot , . ninth Duko of Boau-1 ' ort , all minor personages are reduced to an indistinguishable uniformity , and a Sinclair rises to the level of a Shaw . The possession of a dukedom , the mastership of the Queen ' s Horse , the ownor-
Politics Of The Turf J-Uiii
ship of Badminton , a high position and an ancienf lineage , might have paralysed the energies of 3 nary men . Great are the fortunes of the Duke « F Beaufort , but the duke is ; greater- Hum his fortunes He has devoted himself to the noble art of cock shy , and , like all enthusiasts who put their heir ? and soul into a matter , he . has succeeded itt L high ambition . Tell could shoot an arrow \ vi ( JW danger through an apple on a child ' s head , and the duke can knock a pipe out of a dummy ' s mouth without disfiguring the countenance . AH great artists require a public . The other day , at the Brighton races , the Duke of 'Beaufort was exhibitW his peculiar talents amidst the plaudits of an a < £ miring crowd . As often as the stick sped from ( he ducal hand , so often did the short cloy pine fall frnm
the unwilling lips of the black doll who re joiced in the designation of Aunt Sall y . FOur sticks a , penny was the price demanded . "What man with common feelings would have n-rud » e d his penny to witness the exhibition of ° aristocratic prowess ? Unfortunately , there came by a rider wliose soul was too dull to appreciate Aunt Sall y ' s beauties . The gentleman in question , Mr . White Wcatherley , bases his claim to the title of a gentleman on the ground that lie . has no trade or profession . He is something of a sporting character—does a little in the way of horse-flesh , ¦ and lives upon his friends . By sonic disastrous fate ; at the very moment that 1 he duke was in the act of
demolishing " Aunt Sally ' s" pipe , Mr . Weatherley ' s horse struck the ducal shoulder . The blood of the Beaufort s and tlie Somersets was roused" Timere vel mutarc spcruo" is the motto of the race—and the Duke of Beaufort brooked no interruption , and knew not fear . Mr . Weatherley was . converted into an impromptu Aunt Sally , and forcibly dismounted by the duke . It is not a pleasant thing to have a series of
bludgeons discharged at your head ami shins ; it is not pleasant either to be consigned to an unmentionable place in the presence of an insulting populace—it can hardly be exactly pleasant even when you are struck- by an aristocratic arm and ¦ damned- by a ducal lip . This consolatory knowledge' was , however , denied to Mr . WcaUierley . For aught he knew he might have been insulted by a plebeian tradesman . He failed to recognise the indelible stamp of native aristocracy upon the face and form of the noble marksman , ami , with fearful audacitv , gave in charge the Duke of Beaufort . With " the true modrstv of conscious mont the
duke at first rcfnsrd 1 ogive up his name . When , however , Mr . Wcatherley learnt from the policeman the rank and title of his a ^ ailant , his foehuM appear to have been somewhat modified , lie reflected , doubtless , that discretion was the better part of valour , that fair words butter no parsnips , and that money damages would be a more cHVctivc cure for his b ' ruises than a verbal apology . lie lclt lict course , saw a doctor , ami engaged a solicitor , i ic duke has hud to pay 100 A damages for tlio assault . Mehuieholvtorclaluhi ; might have had ninety-six
, thousand shios at Aunt . Sally Un > the Mini that his three shies at , Mr . Wc . al hurley have com him . , Here , again , our sympathies are nut called into question—the squabble is a discreditable o . ic-3 li . Wcatherley is no more of u popular hero thnuiuc duke is a credit to the nrUocnioy . In P . (? ' !^ ' Mr . Woatherlcy and the Duke ol lfcuulurt ait cry much alike—iho duke especiall y . A' .. ore s nous consideration arises as to tho clk-ct that t uj- j f similar exposures are likely to produce ; oi > « io 1 J ° similar exposures uru uiuy i .. / i - ¦ - ¦ - , n but inwj
mind . Wo arc no puritans , yet a ven knowledge of the world teaches us lluom ijo sporting world every description ot rogue n Km blackguardism is the recognised order ol I » . w j « When we soo that tho turf numbers aj " patron ? our foremost nobles , and sUitoan » e « , JJ » J sonalors , we arc prone to fear that tho ^ L' J » of tho country may be pervaded by tho spoiuuj spirit . The raco-course is not tlio lit scuou for tho Cabinet .
Thotohts, Tacts, And Suggestions On P Ae...
THOTOHTS , TACTS , AND SUGGESTIONS ON P AELIAMENTABY EEFORM . No . VI . The popular remedy for Intiiniclaljon yf « Wg is the Ballot ! iho aristocratic « loviooall * > J ° bo sot up as an alternative remedy is thu * y > w Voting-papers . It b not doiuod by oui 1 «> JV rula » tU intimidation exist *; tlio iiw « ; '" ^ -torioUB to bo gainsaid ; they loci , thorolo 10 , ™ importance of having so . no oountci-schc . no . to 1 * pojo , which , while it sooms to meet Iho owl , au «
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Citation
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Leader (1850-1860), Dec. 18, 1858, page 18, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_18121858/page/18/
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