Adam Smith：The Wealth of Nations, Book I, Chapter XI, Paragraph 484

From about the middle of the fourteenth to the beginning of the sixteenth century, what was reckoned the reasonable and moderate, that is, the ordinary or average price of wheat, seems to have sunk gradually to about one half of this price; so as at last to have fallen to about two ounces of silver, Tower weight, equal to about ten shillings of our present money. It continued to be estimated at this price till about 1570.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book I, Chapter XI, paragraph 484 · Verified：2026-10-19 · Verification：Exact match

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