Adam Smith：The Wealth of Nations, Book I, Chapter XI, Paragraph 517

From about 1570 to about 1640, during a period of about seventy years, the variation in the proportion between the value of silver and that of corn held a quite opposite course. Silver sunk in its real value, or would exchange for a smaller quantity of labour than before; and corn rose in its nominal price, and, instead of being commonly sold for about two ounces of silver the quarter, or about ten shillings of our present money, came to be sold for six and eight ounces of silver the quarter, or about thirty and forty shillings of our present money.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book I, Chapter XI, paragraph 517 · Verified：2026-10-19 · Verification：Exact match

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