will not discriminate."

"You give them no opportunity. You take it for granted that they will
go to the lowest-priced places, so you insist upon buying the
lowest-priced goods, but I tell you, Mr. Thompson, you are making a
mistake. A certain proportion of every community runs after the lowest
prices; a large majority seek good value for their money, and a small
percentage, who are fools, buy only high-priced goods. Then again, a
share only of the trade will come to you or me. Our competitors, no
matter how mean they may be, will have their own friends, and, try as
we may, we can only draw a certain share of the trade."

"That's so."

"Of course it is so. And the dealer who looks these things squarely in
the face and acts accordingly is the one who succeeds. I remember when
I was younger I expected to do all the business in my line here. There
was a run on Parker's gun. The list price was $50; they cost us
$37.50. Every one was asking the list, but making a small cut if
necessary. I had a fair trade in them, but I concluded I would do
more, so I advertised the price $45. This did not accomplish what I
expected, so I came down to $42.50, and finally to $40. I sold a few
more guns than I otherwise would have done, but I did not make one
dollar more of gross profit. In order to attract a few extra buyers I
had been cutting down prices to men who would have bought of me,
whether or no, and I stopped it."

"I remember my first Parker gun," said Thompson; "I called a man into
my store to look at it, one who talked as if he knew all that was
worth knowing about guns. He opened it, looked through it, sighted it,