208 BUREAU OF AMERICAN ETHNOLOGY [BuU. 188 



an item as a single saddle blanket is likely to be covered on both sides 

 with scribbled subtrahends and remainders by the time it has been 

 settled in full. 



Most pawn accounts are handled in the same fashion. On smaller 

 items, wliich account for a good two-thirds of all Shonto's pawn, it is 

 traditional to trade out the entire amoimt allowed at the time of pawn- 

 ing. In the case of bracelets and beads this seldom amomits to more 

 than 10 or 15 dollars (cf. table 33). The credit limit allowed is en- 

 tered at the head of a slip which is then negotiated by item-by-item 

 subtraction exactly as are due bills. 



Large and valuable pieces of jewelry, chiefly belts, are sometimes 

 pawned for amounts up to and exceeding $100.00. In all such cases 

 the belt is simply held as collateral against an account which is ac- 

 tually based on earnings and limited accordingly. These larger 

 pawn accounts are thus essentially the same as book accounts in that 

 they are cumulative and/or fluctuating. They are known as "running 

 accounts" or "open accounts" in contrast to accounts on small pawn, 

 which are traded to the limit and thus "closed" at the time of pawning. 



Trading on an open pawn account, like trading on a book account, is 

 a matter of simple addition. Even here, however, a belt is likely to be 

 pawned initially for an arbitrary amount selected in advance by the 

 owner. A slip is made out for the desired amount and negotiated by 

 subtraction as in the case of other pawn. In this case the amount al- 

 lowed represents the owner's desire to limit his indebtedness and not 

 a credit limit set by the trader. It is a source of mystification to 

 traders that Navahos will arbitrarily fix a sum for which to pawn a 

 piece and then will stick to it as though it were a matter of contract, 

 even though they find that they can think of nothing for which to 

 spend the last few dollars. Bather than reduce the original indebted- 

 ness decided on they will leave the remainder of their trade slip at the 

 store to be completed on a later occasion. The sum for which nearly 

 all Shonto's belts are initially pawned is $20.00, although in many 

 cases it is increased by additional purchases within a week. 



Traders have been known to say that "Navahos are not nearly so 

 afraid of addition as they are of subtraction," meaning that they are 

 less cautious in increasing their debts than in decreasing their credits. 

 It is true that a credit account will often be augmented by $30.00 in 

 less time than it takes to trade out a $3.00 due bill. The observed fact 

 that most people find it much easier to spend money which they do 

 not have than money which is in hand is the basis for the 20th-century 

 installment boom, and the modem Navaho may thus be said to be 

 up to date in this regard. 



A Navaho who wishes to trade on a book (or open pawn) account 

 is almost sure to open the negotiation by inquiring the amount of 

 his bill. The trader has only to volunteer an incorrect answer to 



