PRICE 



Price. Shortly defined, the 

 money expression of value by the 

 seller of an article. Usually an 

 article is not priced unless held for 

 sale, although the contrary may be 

 true : thus an article say, a 

 picture or a house may be on offer 

 for sale without a price being 

 quoted. The price becomes then a 

 matter of bargain. More elabor- 

 ately, price is the equivalent of the 

 sacrifices made by the seller in pro- 

 duction of an article estimated in 

 some acknowledged medium of 

 exchange. 



In regard to articles, frequently 

 produced and capable of reproduc- 

 tion, it closely approximates to 

 cost of production. It is not the 

 same as value, which is the equiva- 

 lent measured generally in the form 

 of currency, of the sacrifices which 

 the would-be buyer is willing to 

 make to possess an object. The two 

 opposing psychological expressions 

 become equal at the time of a sale 

 when a price finds an equivalent in 

 value, and is properly then called 

 market-price. It is not infrequent 

 for articles at quoted prices not to 

 find buyers, when the only remedy 

 is to lower prices to meet the stand- 

 ard of buyers, or to wait for an in- 

 crease in demand which will bring 

 higher values. Supply is an aggre- 

 gate of goods offered at certain 

 prices. Demand is an aggregate of 

 values. See Value ; Wealth. 



Price, BONAMY (1807-88). Brit- 

 ish economist. Born at St. Peter 

 Port, Guernsey, May 22, 1807, he 

 was educated at Worcester College, 

 Oxford, of which he became a 

 fellow. From 1830-50 he was a 

 master at Rugby, during which 

 time he began the study of political 

 economy, which he continued after 

 settling in London. In 1868 he was 

 elected professor of political eco- 

 nomy at Oxford. He died Jan. 8, 

 1888. Price wrote The Principles 

 of Currency, 1869, and Chapters on 

 Practical Political Economy, 1878. 



Price, RICHARD (1723-91) 

 British economist and philosopher. 

 Born at Tynton, Glamorganshire, 

 Feb. 23, 1723, he was educated in 

 London. His father was a dissent- 

 ing minister, and he himself fol- 

 lowed for a time that calling. Soon, 

 however, he became known as a 

 writer. In one pamphlet he urged 

 the re-establishment of a sinking 

 fund to repay the national debt, 

 but it was his writings against the 

 war with the American colonists, 

 to which Burke replied, that made 

 him famous. As a philosopher, he 

 dealt mainly with ethics, his chief 

 work being a Review of the Princi- 

 pal Questions in Morals, 1757. He 

 also wrote An Essay on Population. 

 Price, who died April 19, 1791, 

 was intimate with Franklin. 



6327 



Prichard, JAMES COWLES (1786- 

 1848). British physician and eth- 

 nologist. Born at Ross, Hereford- 

 shire, Feb. 11, 1786, of Quaker 

 parentage, he studied medicine in 

 London, became M.D. Edin., 1808, 

 then studied at Cambridge and Ox- 

 ford, and began to practise in Bris- 

 tol, 1810. His Physical History of 

 Mankind, 1813, culminating in his 

 Natural History of Man, 1843 

 both subsequently enlarged inau- 

 gurated British anthropological re- 

 search. He was elected F.R.S. and 

 president of the Ethnological So- 

 ciety. His Eastern Origin of the 

 Celtic Nations, 1831, was a land- 

 mark in Aryan study. A Treatise 

 on Insanity, 1835, and Forms of 

 Insanity in Relation to Jurispru- 

 dence, 1842, secured for him a com- 

 missionership in lunacy, 1845. He 

 died in London, Dec. 22, 1848. 



Prickly Heat. Affection of the 

 skin occurring in tropical and sub- 

 tropical regions, and occasionally 

 in temperate zones during hot 

 weather. The cause is unknown, 

 but is probably the effect of heat on 

 the sweat glands. An eruption of 

 small papules occurs on the skin, 

 associated with severe itching and 

 profuse sweating. The condition 

 generally disappears quickly under 

 proper treatment. The patient 

 should be kept cool, should not 

 drink much, and should avoid hot 

 tea. Sea bathing is undesirable. A 

 lotion or powder containing boracic 

 acid may be applied to the skin. 



Prickly Heath (Per nelly a mu- 

 cronata). Evergreen shrub of the 

 natural order Ericaceae. A native 



PRIDEAUX 



Prickly Heath. Spray with leaves, 



flowers, and, right, berries. Inset. 



single flower 



of Patagonia, it has stiff oval 

 leaves with toothed edges, and 

 urn-shaped, nodding white flowers. 

 The fruit is a globular berry, about 

 the size of a pea. 



Prickly Pear (Opuntia vul- 

 gar is). Succulent shrub of the 

 natural order Cactaceae. It U a 

 native of the warmer parts of 

 America. A jointed, prostrate, or 

 spreading plant, the light green 

 joints are of oval shape, and the 



Prickly Pear. Cactus of tropica 

 America, Opuntia mierodasys 



leaves reduced to minute scales. 

 The spines are small, solitary, or 

 absent, though there are clusters of 

 barbed bristles. The flowers are 

 pale yellow, opening only in sun- 

 shine, and are succeeded by smooth 

 pulpy, edible, egg-shaped fruits. 

 0. tuna is a larger species, more 

 spiny, with larger fruit (West In- 

 dies) ; and 0. ficux-indica (Mexico) 

 furnishes the so-called Indian figs. 



Prick-Song. Term formerly 

 used for music which was written 

 down, prick, in the sense of a mark, 

 being an old name for a musical 

 note. The term was also applied to 

 divisions upon a ground, and to 

 descant upon plainsong. 



Pride, THOMAS (d. 1658). Eng- 

 lish regicide. He was a brewer in 

 early life, but on the outbreak of 

 the Civil War joined the Parlia- 

 mentary army and won rapid pro- 

 motion. In 1645 he distinguished 

 himself in command of a regiment 

 at the battle of Naseby. On Dec. 6, 

 1648, to prevent the Parliament 

 from coming to an agreement with 

 the king, Colonel Pride, with a body 

 of soldiers, forcibly prevented 

 about 140 members from taking 

 their seats, arresting over 40 of 

 them. This episode is known as 

 Pride's Purge. At the beginning of 

 the following year he was one of the 

 commissioners at the trial of 

 Charles I, and signed the death 

 warrant. He died Oct. 23, 1658. 

 See Lives of the English Regicides. 

 M. Noble, 1798. 



Pride and Prejudice. Novel 

 by Jane Austen, published anony- 

 mously in 1813. It was the first of 

 her novels to be written, though 

 the second to be published. In it 

 the author's happy, seemingly easy 

 method of characterisation is seen 

 at its best, while her admirable 

 command of natural dialogue and 

 playful, radiant humour combine 

 to make the book attractive. 



Prideauz, HUMPHREY ( 1648- 

 1724). British Orientalist and di- 

 vine. He was born May 3, 1648, 



