such a noble price, but I do not like to feel that I have taken
advantage of your liberality; let us see how we can combine in the
matter. You will not be able to have an engraving made from so large a
canvas. Suppose I paint you a small one from the same subject, of
which I will make you a present.' Of course I accepted the gift, and
thus it happened that the large work went travelling over the kingdom
on exhibition, while Thomas Landseer was making an engraving from the
quarter-size replica.

"After some time (in 1857 I think), I sold the original picture to
Mr. William P. Wright, New York (whose picture gallery and residence
were at Weehawken, N.J.), for the sum of 30,000 francs, but later I
understood that Mr. Stewart paid a much larger price for it on the
breaking up of Mr. Wright's gallery. The quarter size replica, from
which the engraving was made, I finally sold to Mr. Jacob Bell, who
gave it in 1859 to the nation, and it is now in the National Gallery,
London. A second, still smaller replica, was painted a few years
later, and was resold some time ago in London for oe4,000
($20,000). There is also a smaller water-colour drawing which was sold
to Mr. Bolckow for 2,500 guineas ($12,000), and is now an heirloom
belonging to the town of Middlesbrough. That is the whole history of
this grand work. The Stewart canvas is the real and true original, and
only large size 'Horse-Fair.'

"Once in Mr. Stewart's collection, it never left his gallery until the
auction sale of his collection, March 25th, 1887, when it was
purchased by Mr. Cornelius Vanderbilt for the sum of $55,000, and
presented to the Metropolitan Museum of Art."

And thus we have the whole story of the "Horse-Fair." The picture is