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Title:  An inquiry into the nature and causes of the wealth of nations: By Adam Smith, ... In two volumes. ... [pt.1]
Author: Smith, Adam, 1723-1790.
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nine bushels of the best wheat at Windsor market, it appears from the accounts of Eton College, was only 1l. 138. 9⅘d. which is nearly 6s. 3d. below the average price of the sixty-four first years of the present century. The average price of the quarter of eight bushels of middle wheat, comes out, according to this account, to have been, during these ten years, only 1l. 6s. 8d.BETWEEN 1741 and 1750, however, the bounty must have hindered the price of corn from falling so low in the home market as it naturally would have done. During these ten years the quantity of all sorts of grain exported, it appears from the cus|tom-house books, amounted to no less than eight millions twenty|nine thousand one hundred and fifty-six quarters one bushel. The bounty paid for this amounted to 1,514,9621. 17s. 4½d. In 1749 accordingly, Mr. Pelham, at that time prime minister, observed to the House of Commons, that for the three years pre|ceeding a very extraordinary sum had been paid as bounty for the exportation of corn. He had good reason to make this obser|vation, and in the following year, he might have had still better. In that single year the bounty paid amounted to no less than 324,1761. 10s. 6d. It is unnecessary to observe how much this forced exportation must have raised the price of corn above what it otherwise would have been in the home market.AT the end of the accounts annexed to this chapter the reader will find the particular account of those ten years separated from the rest. He will find there too the particular account of the preceeding ten years, of which the average is likewise below, tho' not so much below, the general average of the sixty-four first years of the century. The year 1740, however, was a year of extraordinary scarcity. These twenty years preceeding 1750, may very well be set in opposition to the twenty preceeding 1770. As 0