734 ON PRICES GENERALLY BETWEEN 1401 AND 1582. 



two decades, falling slightly in the last twelve years. The 

 most trustworthy evidence, however, is that of shirting, the 

 permanent rise in the price of which occurs in 1549, while 

 that of woollen cloth is exhibited as early as 1544, though this 

 rate is a great deal exceeded by that of 1549. Sacking is 

 found so seldom in the latter part of the period, that I cannot 

 suggest a date for the rise, other than that derived from the 

 analogy of canvas, which also rises permanently in 1549. 



From these facts it will be seen that the rise in prices occurs 

 in all objects of domestic produce, or of near foreign origin, in 

 some year between 1545 and 1549, those materials alone 

 excepted which could be procured plentifully from the ruin of 

 the monastic houses. In such materials the rise is postponed 

 till about 1551. 



My reader will now be able to connect these facts with the 

 issues of base money by Henry and Edward. I take the figures 

 from the essays of Mr. James on Money and the Exchanges. 



1527 



154:3 



1545 

 1546 

 1549 

 1551 

 1552 

 1560 



It will be seen that the government of Edward not only 

 continued the issue of base money commenced by Henry, but 

 lowered the quantity of the mixed metal which they put into 

 circulation, coining in the first two issues seventy-two shil- 

 lings from the pound troy, so that while the first issue of 

 Edward was finer than the last of Henry, its intrinsic value 

 was exactly the same, while the second was only half the 

 value of the lowest debasement and depreciation hitherto com- 



