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Thus, in 1436, it was enacted, that wheat might be exported

without a licence when the price was so low as six shillings and

eightpence: and in 1463, it was enacted, that no wheat should be

imported if the price was not above six shillings and eightpence

the quarter: The legislature had imagined, that when the price

was so low, there could be no inconveniency in exportation, but

that when it rose higher, it became prudent to allow of

importation. Six shillings and eightpence, therefore, containing

about the same quantity of silver as thirteen shillings and

fourpence of our present money (one-third part less than the same

nominal sum contained in the time of Edward III), had, in those

times, been considered as what is called the moderate and

reasonable price of wheat.