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Page 541 of 2651

Author: Adam Smith

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cheaper than it had been during the sixty-four last years of the
last century; and about nine shillings and sixpence cheaper than
it had been during the sixteen years preceding 1636, when the
discovery of the abundant mines of America may be supposed to
have produced its full effect; and about one shilling cheaper
than it had been in the twenty-six years preceding 1620, before
that discovery can well be supposed to have produced its full
effect. According to this account, the average price of middle
wheat, during these sixty-four first years of the present
century, comes out to have been about thirty-two shillings the
quarter of eight bushels.
The value of silver, therefore, seems to have risen somewhat in
proportion to that of corn during the course of the present
century, and it had probably begun to do so even some time before
the end of the last.

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