Abstract. − The purpose of this article is to bring to the anthropological audience several overlooked points in South Asian literature that relate to McKim Marriott’s theory of “coded substance” both with regard to karma and especially with regard to the interpretation of the formulaic prayers of the Yajur Veda and certain other formulaic Hindu prayers. It is suggested that Marriott’s monistic interpretation of South Asian thought is consistent with what Eliade has described as “the sacred,” and it is further suggested on the basis of Hindu and Buddhist architectural practices with regard to town, temple, and stūpa construction that we may view South Asia as “sacred space.” [South Asia, transactional analysis, “coded substance,” karma, formulaic Vedic and Hindu prayers, “the sacred,” sacred space]