Spendthrift was a successful American

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 Thoroughbred

Thoroughbred

The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...

 racehorse

Horse racing

Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...

 and an outstanding sire.
Bred by A. J. Alexander and foaled at his Woodburn Stud

Woodburn Stud

Woodburn Stud was an American horse breeding farm located in Woodford County, Kentucky about ten miles from the city of Lexington. It was established in the 18th century as an original land grant property of General Hugh Mercer to whom it had been granted for his military services during the...

, he was sired by the English-bred stallion, Australian, who was in turn the son of West Australian

West Australian (horse)

West Australian was a British-bred Thoroughbred racehorse who won the first Triple Crown of Thoroughbred Racing and the Ascot Gold Cup....

, England's first Triple Crown

Triple Crown of Thoroughbred Racing

The Triple Crown of Thoroughbred Racing consists of three races for three-year-old Thoroughbred horses. Winning all three of these Thoroughbred horse races is considered the greatest accomplishment of a Thoroughbred racehorse...

 winner, out of Aerolite by Lexington

Lexington (horse)

Lexington was a United States Thoroughbred race horse who won six of his seven race starts. Perhaps his greatest fame came however as the most successful sire of the second half of the nineteenth century; he was the Leading sire in North America 16 times, and of his many brood mare and racer...

. He was a brother to Fellowcraft and half brother to Addie C. (the dam of the Kentucky Derby

Kentucky Derby

The Kentucky Derby is a Grade I stakes race for three-year-old Thoroughbred horses, held annually in Louisville, Kentucky, United States on the first Saturday in May, capping the two-week-long Kentucky Derby Festival. The race is one and a quarter mile at Churchill Downs. Colts and geldings carry...

 winner Chant (by Falsetto). They were from the old American family number, A3.

Spendthrift was bought by Daniel Swigert for $1,000 at the Woodburn yearling sale and named for Swigert's wife's extravagant spending habits in New York

New York

New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...

.
He was undefeated for Swigert as a two-year-old and sold to James R. Keene

James R. Keene

James Robert Keene was a Wall Street stock broker and a major thoroughbred race horse owner and breeder.-Biography:He was born in London, England in 1838. He was fourteen years of age when his family emigrated to the United States in 1852...

 for $15,000.

At three, trained by Col.