Club life is one of the most attractive features. The Britishers (the heaviest investors of foreign capital), of course, have their inevitable cricket, polo, and races—at Hurlingham, near the city—and have erected a substantial country clubhouse, devoted largely to the ritualistic five o’clock tea. The scene on the broad verandas and well-kept lawns is brilliant in the afternoon, with the white lace gowns of the women and the white flannel and broadside panamas of the men. As the guest looks on at the leisurely game of cricket and tea—for these rites are solemnized together by the comfortable Briton—he can easily imagine himself at Shanghai, Hong Kong, Singapore, or Cape Town, where the same function is taking place at the same hour of the day, on club grounds almost identically the same, and to the accompaniment of the same elaborate conversation: “Well played, old chap.” The Germans, Italians, and Spanish also have luxurious clubhouses, and for the transient visitor the _Club de Residentes Estranjeros_ affords a delightful retreat. There is even a big, handsome building for the Y.M.C.A. Among the fifty or more social organizations in Buenos Aires, the Jockey Club is the Argentine _cercle par excellence_. Its home on Calle Florida is of a splendor unsurpassed in clubdom. The guest who is fortunate enough to enjoy its courtesies will be impressed by the perfect taste and sumptuousness of its appointments; the superb marble stairway, the banquet hall, and the famous pictures and sculptures are equaled in but few of the palaces of Europe. Its wealth, derived from an initiation fee of $4000 and annual dues of $1500 for each member, and a “rake-off” of ten per cent. of the amounts wagered at its racetrack, together with gate receipts, accumulate so rapidly that it is a source of genuine embarrassment to the governing board. A short time ago the club voted to devote its surplus to the purchase of a dozen blocks in the heart of the city, the idea being to transform the tract into a beautiful boulevard. It would have cost nearly $14,000,000 in our money. The project was abandoned, not because of the cost, but on the ground of impracticability. During the racing season, held under the auspices of the Club at Palermo Park, the _Porteño_ is seen at his best. Paris gowns and picture hats are displayed in profusion in the grandstand, lawns, and luxurious victorias and automobiles that line the course, and with the correct dress and animation of the men, and the prodigality everywhere in evidence (last season $25,000,000 was placed on the horses), the scene takes on an aspect truly Parisian.