46 Rents, Wages, and Profits in Agriculture 



the contributions made in oxen or equipment 

 or labour. 



In the early mediaeval period everyone, 

 from the king downwards, was interested in 

 the cultivation of land, and the royal 

 revenues were first of all collected in 

 produce. The great barons were also great 

 landowners and great farmers. The typical 

 manor was a large estate, and the manorial 

 farming was on a large scale. For this 

 purpose large capitals were required but 

 they were not in the form of money. 



In this period it is worth noting that the 

 capital employed on the land was worth 

 much more than the land itself. We can, of 

 course, only make the calculation by giving 

 money values to the land and the stock. 

 And it must be observed that money was 

 used for the purpose of measuring values to 

 a much greater extent than it was used for 

 purposes of exchange. And besides, the 



