Cowes for the use of Queen Elizabeth I sowed the seed for Cowes to grow into a world-renowned centre of boat-building. However, seafaring for recreation and sport remained the exception rather than the rule until much later. It was not until the reign of keen sailor George IV that the stage was set for the heyday of Cowes as 'The Yachting Capital of the World.' In 1826 the Royal Yacht Squadron organised a three-day regatta for the first time and the next year the king signified his approval of the event by presenting a cup to mark the occasion. This became
The Merry Monarch sold all his horses for £10,000 to Edward Lloyd-Mostyn. The Merry Monarch was put up for auction and bought back by his original owner, William Gratwicke for 78 guineas. "The Sportsman" magazine described The Merry Monarch as "a very bad horse" and his Derby win as the biggest "fluke" in the history of the race. "The Farmer's Magazine" concurred, calling the result "one of the greatest flukes that we have on record". The Merry Monarch stood as a stallion at his owner's stud at Ham, where his fee was initially 10 guineas. He attracted few mares however, and in only