Money and trade considered : $b With a proposal for supplying the nation with money — John Shaqi
Money and trade considered : $b With a proposal for supplying the nation with moneyLaw, John
General
Money and trade considered : $b With a proposal for supplying the nation with money
Law, John
Banks and banking -- Scotland; Currency question -- Great Britain
By the acts of the council of Edinburgh, it appears, that anno 1495,
the fiars for wheat was 6 sh. and 8 pennies Scots money the boll.
Anno 1520, claret and white French wines were ordered to be sold in the
taverns at 6 pennies Scots the pint, and ale at 20 pennies Scots the
gallon.
Anno 1526, the milns belonging to the town were lett for 400 merks
Scots, now they give 13000.
The petty customs at Leith then lett for 115 merks.
Anno 1532, the load of malt containing 9 firlots, was ordered to be
sold at 32 sh. Scots the load.
Anno 1551, ordered that the best mutton bulk be sold for 12 pennies
Scots, the 2d. sort for 10 pennies, and the worst sort for 8 pennies.
Anno 1553, the 9 firlots of malt old measure, with the charity, is
ordered to be sold for 36 sh. Scots. the landwart bread to weigh 40
ounces, and the townbread 36 ounces the 4 penny or plack loaf.
Anno 1555, the bakers are ordered for each boll of wheat, to deliver 7
score loafs, at 16 ounces the loaf.
By an act of the 5th parliament of Queen Mary, anno 1551. ’tis
ordained, that wines imported upon the east and north coast, should
not be sold dearer than 20 lib. Scots the tun of Bourdeaux wine, and
16 lib. the tun of Rochel wine. the pint of Bourdeaux wine 10 pennies,
and the pint of Rochel wine 8 pennies. and that wine imported upon the
west coast, be sold no dearer than 16 lib. Scots the tun of Bourdeaux
wine, and 12 or 13 lib. the tun of Rochel wine. 8 pennies the pint of
Bourdeaux wine, and 6 pennies the pint of Rochel wine.
So that what 5 lib. bought 200 years ago, will not be bought now for
a 100 lib. nor were goods in greater plenty, or of less value than
now: on the contrair, as these acts were made to regulate the prices
of goods, ’tis reasonable to think they were in lesser quantity than
now, proportioned to the demand, so of more value. but money having
increased in quantity, more than in demand, and having been altered by
the prince; is fallen in value: and a 100 lib. now is not worth what 5
lib. was worth before.
Land may be computed to have been improved in 200 years, that what pays
now two bolls the acre, payed then but one boll: which may be known
from old rentals.
Money gave then 10 per cent interest, and as 384 acres, rented at a
boll the acre, victual at 8 sh. and 4 d. the chalder; so the property
of these acres was equal to, or worth a 100l. for a 100 lib. gave 10
lib. interest, and the 384 acres payed only such a quantity of victual,
as was sold for 10 lib. but as land (being preferable to money for many
reasons) is valued now at 20 years purchase, tho’ money is at 6 per
cent: so that land then may have been valued 14 years purchase or 140
lib.
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.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account