from some unshaven, strong-countenanced _sans
culotte_, which may cause his nerves to tingle for the rest of the
day.

But there is also a light, flimsy, fly-away-kind of speculator, a
May-day betting-man--a youth fresh, perhaps, from school and the
country, with whom his friends have hardly yet made up their minds
what to do--who is at present seeing as much as he can see of town,
upon what he finds decidedly small means. He has an ambition to appear
fast; has of course a great admiration for fast people; but is at
present young and fresh-coloured, and cannot, with all his endeavours,
make himself appear less innocent and good-natured than he is. He has
strained his purse in a bet, has betted on a winning horse, and has
won five pounds. This would perhaps have fixed him for life as a
speculator; but the money burns in his pocket. Before he can make up
his mind to lay out his winnings on fresh bets, he must have a Hansom
for the day. He decorates himself in his light-coloured paletot, blue
neck-tie, and last dickey--drives to Regent Street to purchase
cigars--to an oyster-shop redolent of saw-dust and lobsters--rigs a
very light pair of kids--drives to, and alarms by his fast appearance,
a few of his friends, who forthwith write off long woolly letters to
relations in the country. He is accordingly cited to appear at home,
where he becomes a respected local junior clerk in a Welsh mining
company.

There are various kinds of betting-offices. Some are speculative,
May-fly offices, open to-day and shut to-morrow--offices that will bet
any way, and against anything--that will accommodate themselves to any
odds--receive any sum they can get, small or large; and should a
misfortune occur, such as the wrong horse winning, forget to open next
day. These are but second-rate offices. The money-making, prosperous
betting-office is quite a different thing. It is not advisable for
concerns which intend making thousands in a few years, to pay the
superintendents liberally, and to keep well-clothed touters--to
conduct themselves, in short, like speculative offices. They must not
depend entirely upon chance. Chance is very well for betting-men, but
will not do for the respectable betting-office keepers, who are the
stakeholders.

The plan adopted is a very simple one, but ingenious in its
simplicity. The betting-office takes a great dislike in its own mind
to a particular horse, the favourite of the betting-men. It makes bets
agai