Note 106 — Chapter III

From the middle of the thirteenth to the close of the sixteenth century, wheat, which has always, in a greater or less degree, regulated the price of all other commodities, averaged about seven shillings the quarter; sometimes, however, reaching twenty shillings, and at other times sinking as low as eighteenpence the quarter. When the price was above the average, importation was allowed (3 Edw. IV. ch. 2); when below, exportation to foreign markets might be made (10 Hen. VI. ch. 1). By an Act of Henry VIII. the price of beef and pork was fixed at one halfpenny a pound, and mutton at three farthings. Fat oxen realised twenty-six shillings each, fat wethers three shillings and fourpence, and fat lambs twelvepence a piece. The best description of beer sold for one penny a gallon, while table-beer could be had for half that price. Spanish and Portuguese wines were sold at a shilling the gallon, but French and German sold for eighteenpence. These were the highest prices which could be obtained by the law, which in those days regulated all such matters; and if any fault was discovered in either the quality or the quantity, the dealers were punished by fine equivalent to four times the value of the wine which had been sold (28 Hen. VIII. ch. 14). These prices would appear ridiculously low were it not that, owing to the subsequent increase of the value of money, a penny then would purchase as much wine or beer as a shilling would now.