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arly an intentional reduction in the burden of villain tenure. This fact makes emphasis upon the payment of money as the distinguishing feature of the changed relations between landlord and tenant in this period misleading. There was every precedent for requiring a money payment in the place of services not wanted. When, therefore, a great many services were simply allowed to lapse, it is an indication that it was impossible to exact the payment. It makes little difference whether the services were commuted at a lower rate than that at which they had formerly been "sold" or whether the villain was simply held accountable for a smaller number of services at the old rate; in either case the rent was reduced, and the burden of the tenant was less. The reduction of rent is thus the characteristic and fundamental feature of all of the changes of land tenure during this period. This fact is ignored by historians who suppose the chief factor in the commutation movement to have been the desire of prosperous villains to rid themselves of the degrading marks of serfdom. Vinogradoff, for instance, in his preface to the monograph from which most of the foregoing illustrations have been drawn, has nothing at all to say of the reduction of rent and the poverty of the tenants when he is speaking of the various circumstances attending the introduction of money payments. In the particular case under discussion the cultural policy of William of Wykeham may have suggested arrangements in commutation of labour services and rents in kind. In other cases similar results were connected with war expenditures and town life. In so far the initiative in selling services came from the class of landowners. But there were powerful tendencies at work in the life of the peasants which made for the same result. The most comprehensive of these tendencies was connected, it seems to me, with the accumulation of capital in the hands of the villains under a system of customary dues. When rents and services became settled and lost their elasticity, roughly speaking, in the course of the twelfth, thirteenth, and fourteenth centuries, the surplus of profits from agriculture was bound to collect in the hands of those who received them directly from the soil, and it was natural for these first receivers to turn the proceeds primarily towards an improvement of their social conditi
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