Heritage, as a substitute for internationally adequate prize money, is literally priceless to the nation that cradled the Thoroughbred. Nowhere is this more apparent than at Royal Ascot, where prestige and pageant will next week again draw not just global attention but also global participation. As a result, this most definitively English of occasions has in recent years become ever more cosmopolitan. It's a pretty precarious arrangement for British racing, in that the economic model harnessed to its cultural assets-namely, an export market for yearlings and horses-in-training-threatens ultimately to erode...