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sinew-thread, which is very strong; the finest is,
I believe, well adapted for salmon lines.
The shoes cost 1/2 dollar (2s. 3d. English) per
pair, the spoons 1 mark (about 11d.) each, and the
sinew-thread 11/2 mark for a rather small skein.
The women were quite firm to their prices; they
only deviated when we proposed to make a
purchase of several pairs in one lot. Instead of
reducing the price in consideration of the wholesale
nature of the transaction, they raised it.
Half-a-dollar being the price of one pair, 31/2 dollars were
demanded for half-a-dozen. At first I thought this
was an arithmetical blunder, but found that it was
not so. By taking two pairs from each of the
three women who were competing in the market,
we could purchase the half-dozen for 3 dollars, but
if we took all the six from one, and thus nearly or
quite cleared out her stock, she demanded and
firmly insisted upon the higher price.
At first sight this appears like a commercial
absurdity, but further consideration of all the
conditions of the bargain shows that these simple
women—each in her individual capacity—were
acting in strict accordance with a fundamental
principle of political economy, viz. that supply
being constant, values vary with demand. Her own
supply is a constant or limited quantity, and
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