An Inquiry into the Nature and Causes of the Wealth of NationsSmith, Adam
History
An Inquiry into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
This statute is surely a better evidence of what was reckoned, in those
times, a moderate price of grain, than the prices of some particular
years, which have generally been recorded by historians and other writers,
on account of their extraordinary dearness or cheapness, and from which,
therefore, it is difficult to form any judgment concerning what may have
been the ordinary price. There are, besides, other reasons for believing
that, in the beginning of the fourteenth century, and for some time
before, the common price of wheat was not less than four ounces of silver
the quarter, and that of other grain in proportion.
In 1309, Ralph de Born, prior of St Augustine’s, Canterbury, gave a feast
upon his installation-day, of which William Thorn has preserved, not only
the bill of fare, but the prices of many particulars. In that feast were
consumed, 1st, fifty-three quarters of wheat, which cost nineteen pounds,
or seven shillings, and twopence a-quarter, equal to about one-and-twenty
shillings and sixpence of our present money; 2dly, fifty-eight quarters of
malt, which cost seventeen pounds ten shillings, or six shillings
a-quarter, equal to about eighteen shillings of our present money; 3dly,
twenty quarters of oats, which cost four pounds, or four shillings
a-quarter, equal to about twelve shillings of our present money. The
prices of malt and oats seem here to be higher than their ordinary
proportion to the price of wheat.
These prices are not recorded, on account of their extraordinary dearness
or cheapness, but are mentioned accidentally, as the prices actually paid
for large quantities of grain consumed at a feast, which was famous for
its magnificence.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account