When everything is said and done, there can be no doubt that the individual who starts out, either as bookmaker or backer, with the idea that he is going to make a fortune must, as an old racing character (Billy Pierse, whose father fought at Culloden) used to say, "want it here." This expression was very popular with "T' au'd un" or the "Governor," as Billy was commonly designated on the Yorkshire courses. Once at Doncaster, when Sir John Byng had to decide a dispute as to jostling to the prejudice of a horse trained by "T' au'd un," the latter insisted that Sir John could not distinguish between a race and a charge of cavalry, and that he could by no earthly explanation be made to comprehend in what a "jostle" in racing consisted. So cantankerous was Billy on the subject that he accosted an old gentleman, whose erudition he held in high esteem, in the following manner: "Tell me, sir, wasn't this Sir J. Byng's father or grandfather hanged?" "No, Mr. Pierse," was the reply, "not hanged; probably you allude to the Admiral, who was shot." "I thowt," rejoined Billy, "it was sommat o' t' sowort, an' it's much of a muchness between hanging and shooting; but I'll uphoud ye that this Sir John Byng will never do for the Turf--he may be well enough for a General, but he'll never do for the Turf! He wants it here, sir," added Billy, putting his finger in a most expressive manner on his forehead, "he wants it here!" The maxims of "T' au'd un" were held in great respect, and the Duke of Cleveland, for whom he won several races on Haphazard, used frequently to ask the old man (who had had his last mount in the St. Leger of 1819) to Raby. Concerning these visits Billy used to say, "I never forgot that I was Billy Pierse--I was useful or I wouldn't have been theer." This was to some extent true, for the Duke had a high opinion of his judgment in Turf matters. A favourite saying of Old Billy, and one which afforded him much comfort, was, "I've done as many as have done me." Nevertheless he was straight enough, according to the Turf ethics of his day. Within the last twenty-five years there have been many changes in connection with Turf speculation. Ante-post betting, for instance, is now practically obsolete, whilst starting price betting, unknown in old days, has come into vogue; and, finally, the huge wagers formerly quite common have become things of the past, a state of affairs which would be little to the taste of men of the type of the fifth Lord Glasgow did they still exist. This nobleman's love of wagering enormous sums excited attention even in an age when high gambling was not generally viewed with anything like the severity which prevails to-day, when Stock Exchange speculation is the favourite mode of attaining complete and speedy impecuniosity.