Closely following the termination of the races both yachts were put into winter quarters, and owners as well as crews took breath, enjoying a well-earned rest. It is not possible at this early moment to draw any absolutely settled conclusions as to the merits or demerits of the contesting yachts. Fortunately Lord Dunraven decided to leave 'Valkyrie' in the States for a continuation of the contest in 1894, when if the races that are now hoped for occur, and all the yachts take part that now promise to do so, it will be a far more useful and interesting contest than was afforded by the races of 1893. A few points that are worth considering force themselves on the close observer of the international races of 1893. October is one of the worst periods of the whole year for racing, at least during the first half of the month; the winds then are light and inconstant in force and direction, and calms are of longer duration than at any period during the yachting season. From August 15 until September 20 is without doubt the most favourable time for racing, and when another international contest is contemplated, it is to be hoped that the races will be set at least three weeks earlier than those of 1893. This international sport awakens such a widespread interest, serving, as it were, as a great national school in yachting and racing, that it is to be hoped as much facility as possible may be afforded the public for witnessing them; therefore, let all international races be held in New York waters, where they were in 1893, as that point is more accessible than any other to those interested. We in America must establish some school for the training of skippers and crews; there is not to-day a professional skipper in the country, nor a crew that is capable of sailing a yacht against the English. The best school possible is actual racing, and when we present to our yachtsmen a racing list as long as that published in England, then we can hope to have captains and men fit to hold their own. The English may learn of the Americans how to design a yacht that will bear pushing to extreme speeds without making such a disturbance in the water as did 'Valkyrie.' They can also take lessons in staying the mast and masthead, and in proportioning the sizes of spars and standing rigging more closely to the labour assigned them. The Americans may learn of the English how to make canvas that will stand where it is desired; and when it is made they can also learn of them how to make sails and how to set them; and in general to copy the management of their yachts when racing, that when we meet the English in international races we may be able to rig and sail our yachts in such manner that an expert would be able to say whether any advantage on either side was due to design, or if not to that factor alone, to place the cause of advantage where it belongs, so that the lesson set by such races may be of some benefit to those who have the improvement of