. That'll depend on the Ladies' Plate; if I win it ...

MARGARET. Dead certainty!

CLEMENT. And anyhow, in April the Riviera really isn't the thing any
more.

MARGARET. Oh, that's it, is it?

CLEMENT. Of course that's it, child. You've retained from your old life
certain conceptions of what's the thing which are--you'll forgive me
for saying it--just a little like those of the comic papers.

MARGARET. Really, Clement ...

CLEMENT. Oh well, we'll see. (Goes on reading.) Badegast fifteen to one
...

MARGARET. Badegast? He won't be in it.

CLEMENT. How do you know that?

MARGARET. Szigrati himself told me.

CLEMENT. How was that? Where?

MARGARET. Why, yesterday up at the Freudenau, while you were talking to
Milner.

CLEMENT. To my way of thinking, Szigrati isn't the right sort of
company for you.

MARGARET. Jealous?

CLEMENT. Nonsense! Anyhow, after this I shall introduce you everywhere
as my fiancee. (She kisses him.) Well, what did Szigrati tell you?

MARGARET. That he wasn't going to enter Badegast for the Ladies' Plate.

CLEMENT. Oh, you mustn't believe everything Szigrati tells you. He's
spreading the report that Badegast won't run just in order that the
odds may be longer.

MARGARET. Why, that's just like speculation.

CLEMENT. Well, don't you suppose we've got any speculators among us?
For many men the whole thing is a business. Do you suppose a man like
Szigrati has the slightest feeling for sport? He might just as well be
on the stock exchange. But for the matter of that, as far as Badegast
is concerned, people might well lay a hundred to one against him.

MARGARET. Oh? I thought he looked splendid this morning.

CLEMENT. Oh, she's seen Badegast too!

MARGARET. To be sure--didn't Butters give him a gallop this morning
after Busserl?

CLEMENT. But Butters doesn't ride for Szigrati. That must have been a
stable-boy. Well, anyhow, Badegast may look as splendid as you like, it
makes no difference--he's no good. Ah, Margaret, with your brains
you'll soon learn to distinguish real greatness from false. It's really
incredible, the quickness with which you've already--what shall I
say?--initiated yourself into all these things--it surpasses my boldest
expectations.

MARGARET (annoyed). Why does it surpass your expectations? You know
very well that all these things are not so new to me. Some very good
people used to visit my parents' house--Count Libowski and various
others; and also at my