Perhaps the favourite amusement of the capital is racing, for it appeals both to the love of horses and the love of gambling, which are two of the strongest predilections of the Argentines. Some men who have acquired large fortunes find a difficulty in disposing of them except by play and betting, thus following the example of the ancient _conquistadores_ who won gold lightly and diced it away as readily. There are two race-courses, one at Belgrano and one at Palermo, but the impression they produce is disappointing, chiefly owing to the Spanish lack of comfort. The actual racing, though marred by inferior jockeyship, is extremely good, for the horses are of high quality and the runners are plentiful. But it would be well if the Jockey Club deputed a small committee to visit England and France with a view to improving the accommodation. Everything at Belgrano is of the most uncomfortable description and the people are cramped in crowded pens. The Palermo course, when completed, will be a considerable improvement, and it is on an ambitious scale, but it is so large that it entails an unnecessary amount of walking about, and the arrangements for paying in and drawing out money and also for refreshments are most inconvenient. Again, there is practically no paddock; the horses are hurried to the post, where they await the time fixed for the start, and consequently it is very difficult to get a view of them. As regards speculation, the Indian plan is the best which allows the bookmakers and the totalisator to work side by side, for a machine is an inadequate substitute for the human element. Buenos Aires has followed the example of France, which has discarded bookmakers, but has not imitated the excellence of her machine betting, for the totalisators at Palermo are so far from the stands and are so badly served that one might imagine them to have been constructed by the Anti-Gambling League. However, the racing is the thing, and that is, as said before, very good. The rich men of Argentina take great delight in blood-stock and many of the racers are by high-class English sires. This pursuit is often a source to them of pleasure as well as of profit. King Edward's triple crown hero, Diamond Jubilee, was bought for Argentina at a cost of £30,000 and the first season's produce of this stallion sold for a somewhat larger sum. Flotsam and many other well-known animals stood for several years in Argentina. [Illustration: _Photo_] [_C. Hailey, Newmarket._ IMPORTED STALLION, "DIAMOND JUBILEE," LATE PROPERTY OF H.M. KING EDWARD VII.]