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In 1554, by the 1st and 2nd of Philip and Mary, and in 1558, by

the 1st of Elizabeth, the exportation of wheat was in the same

manner prohibited, whenever the price of the quarter should

exceed six shillings and eightpence, which did not then contain

two penny worth more silver than the same nominal sum does at

present. But it had soon been found, that to restrain the

exportation of wheat till the price was so very low, was, in

reality, to prohibit it altogether. In 1562, therefore, by the

5th of Elizabeth, the exportation of wheat was allowed from

certain ports, whenever the price of the quarter should not

exceed ten shillings, containing nearly the same quantity of

silver as the like nominal sum does at present. This price had at

this time, therefore, been considered as what is called the

moderate and reasonable price of wheat. It agrees nearly with the

estimation of the Northumberland book in 1512.