A higher form is that in which the producer keeps a supply of his commodity on hand. and periodically displays it repeatedly in a known place —­ a “market.”  This stage also may be developed simply through barter, as is seen among certain pueblo Indians of southwestern United States, but the Bontoc man has not begun to dream of a “market” for satisfying his material wants.  Such commerce may be called “Periodic Free Commerce.”  It is widespread in the Philippines, displaying both barter and sale.  In many places in the Archipelago to-day, especially in Mindanao, periodic commerce is carried on regularly on neutral territory.  Market places are selected where products are put down by one party which then retires temporarily, and are taken up by the other party which comes and leaves its own productions in exchange.

Growing out of these monthly, semimonthly, weekly, biweekly, and triweekly markets, as one sees them in the Philippines, is a still higher form of commerce carried on very largely by sale, but not entirely so.  It may be called “Continual Free Commerce.”

Property right

The idea of property right among the Igorot is clear.  The recognition of property right is universal, and is seldom disputed, notwithstanding the fact that the right of ownership rests simply in the memory of the people —­ the only property mark being the ear slit of the half-wild carabao.

The majority of property disputes which have come to light since the Americans have been in Bontoc probably would not have occurred nor would the occasion for them have existed in a society of Igorot control.  It is claimed in Bontoc that the Spaniard there settled most disputes which came to him in favor of the party who would pay the most money.  In this way, it is said, the rich became the richer at the expense of the poor.  This condition is suggested by recent RECLAMOS made by poor people.  Again, since the American heard the RECLAMOS of all classes of people, the poor who, according to Igorot custom, forfeited sementeras to those richer as a penalty for stealing palay, have come to dispute the ownership of certain real property.

Personal property of individual

Most articles of personal property are individual.  Such property consists of clothing, ornaments, implements, and utensils of out-of-door labor, the weapons of warfare, and such chickens, dogs, hogs, carabaos, food stuffs, and money as the person may have at the time of marriage or may inherit later.

Four of the richest men of Bontoc own fifty carabaos each, and one of them owns thirty hogs.  Two other men and a woman, all called equally rich, own ten head of carabaos each.  Others have fewer, while two of the ten richest men in the pueblo, have no carabaos.  Some of these men have eight granaries, holding from two to three hundred cargoes each, now full of palay.  Carabaos are at present valued in Bontoc at about 50 pesos, and hogs average about 8 pesos.  All rich people own one or more gold earrings valued at from one to two carabaos each.