ON THE PURCHASING POWER OF WAGES. 683 



implements, and for the various products of labour in the 

 several mechanical and useful arts ; and so on till the num- 

 ber of these multipliers becomes very large. In short, it does 

 not seem feasible to assume any uniform measure by which 

 to interpret medieval money-values, but rather to take par- 

 ticular cases and examine them in detail. 



Let us then begin with the case of a small freeholder (like 

 those described in the Ibstone rent-roll), who cultivates an- 

 nually 20 acres of arable land, for which he pays a quit-rent, 

 or quit-rent and service, amounting on the whole to 6d. an 

 acre. If this cultivation be carried on in the same way and 

 to the same advantage, one thing being set against the other, 

 as the land retained by the lord and cultivated by his bailiff, 

 he may expect to obtain, with a capital of \^ about $ ic*. 

 profit, out of which he has to pay io<r. by way of rent. The 

 pasture -rights which he possesses over the waste and the 

 woods of the manor are pro rat a. equivalent to those enjoyed 

 by the lord, and the advantage obtained, as the small farmer 

 keeps his affers, or oxen, and cow, with a few sheep, will 

 be proportionate to those possessed by the lord. If, in ad- 

 dition to the profit derived from his own labour and that of 

 his family on the farm which he cultivates, he works, as no 

 doubt he did work, for daily wages, he might very easily earn 

 ^i more by engagements during the time of hay and corn- 

 harvest and by threshing in the winter months, and similar 

 avocations in husbandry. 



The distribution of such a sum might be as follows. Taking 

 the average price of wheat, and assuming that four quarters 

 a year are needed for the support of the farmer and his family, 

 we have a charge incurred on this head of \ y. 6d. I have 

 taken the price of the best wheat, though no doubt the farmer 

 used the lightest part of his crop for home consumption, be- 

 cause the difference between the best and the second quality, 

 represented perhaps sufficiently by the odcl pence included in 

 the general average, will account for the charge of grinding 

 and manufacturing into bread. Two quarters of second-quality 



