ON THE PRICE OF GRAIN. 



of my enquiry, the corporations bought beer from the common 

 brewer, and unfortunately very often buy it without giving any 

 information as to its quality or quantity. Such quantities, 

 however, as are recorded are contained in a separate table, on 

 which I shall make subsequent comment. 



The fluctuations in the price of barley closely correspond to 

 those of wheat, though sometimes it is reasonably cheap when 

 wheat is dear, more rarely dear when wheat is cheap. For in 

 the inferior kinds of grain, the cheapness of the principal corn 

 product lowers their value to a greater extent than that to 

 which the principal product is depressed. Thus in 1463, when 

 the average price of wheat is 3^. ioi^., barley reaches the lowest 

 quotation recorded, 2s. ^\d. But it is to be remembered that 

 causes which would lower and heighten wheat prices in any 

 particular season would not necessarily have identical effects 

 on other kinds of grain. It is only when the average is taken 

 over a wide period that disturbing causes correct each other, 

 and a valid and practical inference can be derived. 



Between 1541-1582 the average of barley is 8s. $\d. 



The average price of drage for the first 40 years is 2s. iof^. 



The average price of malt (barley) between 1401-1540 is 

 4s. id* During the first twenty years it is twelve times in 

 excess of this average. In the next twenty, thirteen times, this 

 period including the dear years, 1437-9. During the next 

 twenty, only three times; during the next, twenty-six times; 

 during the next, twenty-four times. Between 1501-1520, four 

 times. Between 1521-40 it was only three times below the 

 average and was seventeen times above it, and twice in the 

 dear years, 1527, 1531, nearly approached the price of wheat. 



Between 1541-1582, the average price of malt is los. $d., the 

 rise being rather more, as might be expected, than that which 

 is proportionately effected in wheat. Here again the dearest 

 year is 1556, when wheat being at 28^. \d.> malt was bought 

 at 24s. But in the other very dear wheat year, 1573, when this 

 grain was 2,6s. 3}^., malt was bought at i8j. 



For the first 140 years the average price of oats is 2^. 

 VOL. IV. T 



