EXCHANGE AND MARKETS 41

tion exists, there can be but one price for the same goods
throughout the market at any moment, allowance being
made for cost of transport when necessary. In the degree
in which the nature of the goods, or the extent of the
dealings which take place in them, render the organisation
of the market for them less effective, this uniformity of price
may not exist, and arguments, in which the assumption of
such uniformity forms an important feature, need to be
examined, in order to make such allowance as the case
demands for irregularity of price.