Great Britain -- History -- Medieval period, 1066-1485
Money was almost inconceivably scarce. The labourer's wages were paid
partly in rations of food, partly in other allowances, and only partly
in money; he had to take what he could get. Even the quit-rent, or what
I have called the ground rent, was frequently compounded for by the
tenant being required to find a pair of gloves, or a pound of cummin,
or some other acknowledgment in lieu of a money payment; and one
instance occurs among the Rougham charters of a man buying as much as
11-1/2 acres, and paying for them partly in money and partly in barley.
[Footnote: In the year 1276 halfpence and farthings were coined for the
first time. This must have been a great boon to the poorer classes, and
it evidently was felt to be a matter of great importance, insomuch that
it was said to be the fulfilment of an ancient prophecy by the great
seer Merlin, who had once foretold in mysterious language, that "there
shall be half of the round." In the next century it appears that the
want of small change had again made itself felt: for in the 2nd Richard
II. we find the Commons setting forth in a petition to the King, that
"_...les ditz coes n'on petit monoye pur paier pur les petites_ mesures
a grant damage des dites coes," and they beg "Le plese a dit Sr. le Roi
et a son sage conseil de faire ordeiner Mayles et farthinges pur paier
pur les petites mesures... et en eovre de charitée...."--Rolls of
Parl., vol. iii. p. 65.] Nothing shows more plainly the scarcity of
money than the enormous interest that was paid for a loan. The only
bankers were the Jews; [Footnote: I am speaking of Norfolk and Suffolk,
where the Jews, as far as I have seen, had it all their own way.] and
when a man was once in their hands he was never likely to get out of
their clutches again. But six hundred years ago the Jews had almost
come to the end of their tether; and in the year 1290 they were driven
out of the country, men, women, and children, with unutterable
barbarity, only to be replaced by other bloodsuckers who were not a
whit less mercenary, perhaps, but only less pushing and successful in
their usury.
Public-domain text, read in full here on John Shaqi.
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