lus, and of every other coin between the time
of Romulus and that of Augustus, gradually sunk about five parts in six,
as appears by several passages out of the best authors. And yet, the
prodigious wealth of that state did not arise from the increase of
bullion in the world, by the discovery of new mines, but from a much
more accidental cause, which was, the spreading of their conquests, and
thereby importing into Rome and Italy, the riches of the east and west.

When the seat of empire was removed to Constantinople, the tide of money
flowed that way, without ever returning; and was scattered in Asia. But
when that mighty empire was overthrown by the northern people, such a
stop was put to all trade and commerce, that vast sums of money were
buried, to escape the plundering of the conquerors; and what remained
was carried off by those ravagers.

It were no difficult matter to compute the value of money in England,
during the Saxon reigns; but the monkish and other writers since the
Conquest, have put that matter in a clearer light, by the several
accounts they have given us of the value of corn and cattle, in years of
dearth and plenty. Every one knows, that King John's whole portion,
before he came to the crown, was but five thousand pounds, without a
foot of land.

I have likewise seen the steward's accounts, of an ancient noble family
in England, written in Latin, between three and four hundred years ago,
with the several prices of wine and victuals, to confirm my
observations.

I have been at the trouble of computing (as others have done) the
different values of money for about four hundred years past. Henry Duke
of Lancaster, who lived about that period, founded an hospital in
Leicester, for a certain number of old men; charging his lands with a
groat a week to each for their maintenance, which is to this day duly
paid them. In those times, a penny was equal to ten-pence half-penny,
and somewhat more than half a farthing in ours; which makes about eight
ninths' difference.

This is plain also, from the old custom upon many estates in England, to
let for leases of lives, (renewable at pleasure) where the reserved rent
is usually about twelve-pence a pound, which then was near the half real
value: And although the fines be not fixed, yet the landlord gets
altogether not above three shillings in the pound of the worth of his
land: And the tenants are so wedded to this custom, that if the owner
suffer three live