BENZOFS BOOK. THE JUBILEE PLUNGER IN AUSTRALIA. AUSTRALIAN MONEY-LENDERS AND BETTING-MEN. HIS OPINION OF CARD-PLAYING.

Te Aroha News, Volume VII, Issue 410, 12 October 1889, Page 4

BENZOFS BOOK. THE JUBILEE PLUNGER IN AUSTRALIA. AUSTRALIAN MONEY-LENDERS AND BETTING -MEN. HIS OPINION OF CARD-PLAYING.

The " Argus " has received an advance copy, by the English mail, of the remai liable work, "How I Lost ±250,000 in Two Years," by Ernest Benzon, the Jubilee Plunger ; and publishes an interesting summary of its most striking narrative. The tollowing are extracts :—: — Mr Benzon begins his work by tracing most of his errors to his treatment by his guardians during his minority. Deprived of both his parents, he was left in charge of an uncle, who kept him in ignorance of the large fortune to which he Avas heir. As no one would be allowed to enter a business without a previous course of training in its rules, so heirs, he contends, ought to be brought up to the spending of money. When, eventually, he learned, through the family solicitors, that he was to come into money, he at once began to borrow from the Jews in London, and obtained £500 upon a bond to pay £1,000 when he came of age, with which he went to Ascot. Finally, he patchtd up his quarrel with his uncle, and was sent down to the countiy to an army tutor, on condition that he was to have one hoise. "As a matter of fact, 1 had one," says Mr Benzon, "and a coach and all sorts of carriages. We had our own wine cellar, and hunted every day in the week, when we were not racing." Of the Court of Chancery, which now began to take an active interest in his career, Air Benzon has no great opinion as a protector of infants. By way ot completing his education, the Court of Chancery shipped him off to Australia, under the caie of Mr P. H. Morton, of Cambridge. Of his adventures in Australia, and especially in Melbourne, Mr Benzon writes with an engaging unreserve. He had a gay time with betting and baccarat and unlimited 100. Four days' racing at Flem<ngton cost him £4,000, and he lost £150 at pyramids to a man who played ten times better than he did. To supply these and other losses he had recourse to the local money-lenders, and from one local ursurer (named) he got " a monkey." for which he gave a bill for £700. From another gentleman he got £500 for "an acceptance due when 1 came of age for £5,000," a rather good bargain for the lender, it' he ever gob his money. Altogether, Mr Benzon declares that he had £30,000 worth oi his paper in the Victorian bill discounters' hands. Then " the ring " was accommodating, and " in many cases were good enough to take my oaper for double the amount 1 paid them." the whole, Mr Benzon avers that he j " had a very good but very expensive time in Melbourne." He gives an account of a certain evening spent in a delightful suburban villa, " with consequences involving Mr Benzon in large expense. Three persons met to play a quiet game of loo," after a recherche dinner. The names of the two who helped the Chancery ward to pass that pleasant evening are withheld, and here, as elsewhere, Mr Benzon, or his publisher, exercises a most judicious reserve ; but we are allowed to know that one of the party was a well-known racing medico, who owns horses and sometimes bet-i heavily, while another was " a turf habitue," who is described as making a livelihood by " the exercise of his knowledge in connection with the turf." At the little game (unlimited) which ensued the luck was against our infant heir. The Doctor stopped when he had won £1.200, but the turf habitue played for stakes, and with a grace worthy of the Marquis of Hastings' period. Mr Benzon, when he finally retired from the game, had lost £25,000. Of this little episode in bis Melbourne career Mr Benzon speaks with perfect good humour, nor does he by any hint suggest that he lost unfairly, or that the game was otherwise than according to the rules. From Melbourne he proceeded, much against his wish, for he was quite contented to stay where he was, to New Zealand, at the instance of his mentor. In that colony his career was marked by the usual racing, betting and playing, though the incidents were less exciting than in 24elbourne. A great deal of money had to be raised on paper, nor was there any difficulty in doing so. Returning to Australia after a flying visit to Sydney, Mr Benzon came to Melbourne in time to witness the race for the Cup, which he enjoyed vastly, though with the usual expense. Luck was against him, and he calculated that he must have lost about £15,000 in all, the "paper" representing a much larger sum. From first to last Mr Benzon reckons that his trip to Austra lasia cost him £65,000. Then Mr Benzon returned to England, and shortly after came of age. On the day he arrived at twenty-one he had a quarter of a million at his disposal. He at once borrowed £50,000 on hi 3 securities, and paid off £38,000 to the money lenders for borrowing in his infant days. Mr Benzon has scarcely ever an ill word to pay of those who lent him money, speaking especially of the professional money tenders with great respect. In the above sums are not included any of his Australian liabilities, as to which he employed a solicitor in settling up, an operation which proved to be one of some delicacy, in the course of which Mr Benzon hints that he received from one ortwo persons— whom, contrary to his usual practice, he names — less than fair play. Some fellows made an absurd claim against him of £30,000, who took £300 cheerfully. One man (named), who held £10,000 of Mr Benzon's paper, received £5,U00. and then thought himself badly treated. Had it not been for the fact that it was costing him a large sum of money, Mr Benzon declared thac he should have been "most intensely amused at the manner in which the Australian creditors flocked around me. Every steamer contributed its quota, and at one time I am sure half the Melbourne money lenders and bookmakers were in London, all intent on their pound of flesh." For himself he did not trouble about money " When my account was running a little short at Coutts's, I wrote to the people there to &ell out this, that, or the other stock there, and place the proceeds to my credit, and so I never knew what it was to be in the least short of money." It was immediately after his return to England and his coming of age that Mr Benzon commenced that wild career on the turf which won for him the name of "The Jubilee Plunger." The first race meeting he attended was the Epsom Spring, where he lost about £6,000 on Carlton, " and got eased of a valuable *=carf pin at the same time." Luck varied, however. At Liverpool, with the steeplechasing, Mr Benzon had "a real good time," winning about £10,000. Then we •get on, he writes, to the Jubilee Stakes at Kempton, where he backed Bendigo to win him £16,000, and people were very angry with him for the high way in which he was betting. "It was here I was called 'The Jubilee Plunger,' a name which I hate, although I am now accustomed to it. In facr, I got into trouble with owners all round for interfering with their market, but I soon go!

taught better than that." Bendigo won, ' and ha\ing had another good week Mr Benzon "arrived at the conclusion that racing was the best game in the world." It was at this meeting where he first made the acquaintance of Sir George Chetwynd, whom he declares to have been all through the best friend he ever had. 11 If! had always listened to him I should have had thegreater partofthe£2so,ooonow instead of being without it." After this Mr Benzon went to Goodwood, where he "experienced a most awful run of bad luck, nearly e\ery thing I backed going down." He lost £20,000 in one week and £30,000 in the fortnight. Again, at Manchester he l<-st quite £10,000 in one week. The Ascot week was a bad one also, as Mr Benzon steadily backed' the horses which did not win, retrieving himself somewhat over Timothy and Grey Hermit, and laying £20,000 to £16,000 on Ormonde when he beat Minting and Bendigo. At Sandown Park he thought he was going to bet home all his losses, but lie backed the wrong horses as usual, and one day it cost him £15,000. Not content with the more legitimate ways of getting rid of his money, Mr Benzon at this time commenced to play baccarat at the Club in Park Place (which has lately become the object of the attention of the police). He had extraordinary luck, winning £15,000. He was just thinking of going when they said, "Oh, you must take another bank." He took another bank, and lost ail his winnings, with £10,000 besides, so that he reckoned that he was about £27,000 out of pocket that week. Then to Goodwood, where he dropped £10,000 more. By this time his continued ill-luck had begun to tell upon his credit. At Windsor he had to borrow £5,000 from a man in the ring, to whom ho gave a written promise that he would sell his horses for his benefit if he was unable to repay the amount, with £2,000 interest, within three months. The transaction got abroad, and the gentlemen of the ring would not bet with Mr Benzon as they used to. By ,this time he had exhausted all his ' secmities at Coutts's, and after two or three more "fearful days" he was driven to terrible straits to i - aise money, having even to take the family plate to Hancocks, the jewellers, who gave him £2,500. Mr Benzon then complains that many whom he thought his friends deserted him. They turned their backs on him, and to all intents and purposes cut him. Still, excepo Dgainst the Court of Chancery and one or two Australian money-lendeis he retains no bitterness of feeling. Mr Benzon has resisted the temptation to take his revenge on those who have won his money. His chief sorrow is that instead of contining himself to legitimate betting, he should have muddled away his money in card playing, pyramids, and other frivolous diversions. As for card playing, he declares that it is " Bar none the worst game that was ever in\ented." If he ever has money again, he will never touch another card. Cards is a game that; one can never stop. If one has a bad night, one goes on more and more to get home. Racing is quite difierent. There are only about seven races a day, and yuu may cry to go in splash on the last race to get home, but still you cannot lose any moie. But at cards you go on at eleven o'clock at night, and very often go on till eleven o clock the next day. Not only is it bad for the pocket but it is most injurious to one's health." The latter part of Mr Benzon's book is devoted to chapters on the ling, on pigeon shooting, Monte Carlo, money lending, and London tradesmen. The pleasures of Monte Carlo Mr Benzon believes to be greatly overrated, nor does he nea what there is to attract people there. Mr Benzon's own experience of Monte Carlo was not favourable. He started from London with £250 in his pocket, and won £1,000 on the road at bacnarat in Paris. Having got to the table at Monte Carlo in the first few minutes he won £1,000, but before dinner time had lost every shilling he had in the world. He even had to borrow the money from a friend to take him back to London, and does not think he will be tempted to try Monte Carlo again. In a tinal chapter Mr Benzon takes a reti'ospect of his career, which, if it is not as edifying as might be expected, is of a candour and simplicity such as rarely remain with a man alter he has lost a quarter of a million sterling.