2444.
Though commerce was still very low, it seems rather to have increased since the conquest; at least, if we may judge of the increase of money by the price of corn.

The medium between the highest and lowest prices of wheat, assigned by the statute, is four shillings and threepence a quarter; that is, twelve shillings and ninepence of our present money.
This is near half of the middling price in our time.

Yet the middling price of cattle, so late as the reign of King Richard, we find to be above eight, near ten times lower than the present.

Is not this the true inference, from comparing these facts, that, in all uncivilized nations, cattle, which propagate of themselves, bear always a lower price than corn, which requires more art and stock to render it plentiful than those nations are possessed of?
It is to be remarked, that Henry's assize of corn was copied from a preceding assize established by King John; consequently, the prices which we have here compared of corn and cattle may be looked on as contemporary; and they were drawn, not from one particular year, but from an estimation of the middling prices for a series of years.

It is true, the prices assigned by the assize of Richard were meant as a standard for the accompts of sheriffs and escheators and as considerable profits were allowed to these ministers, we may naturally suppose that the common value of cattle was somewhat higher: yet still, so great a difference between the prices of corn and cattle as that of four to one, compared to the present rates, affords important reflections concerning the very different state of industry and tillage in the two periods.
Interest had in that age mounted to an enormous height, as might be expected from the barbarism of the times and men's ignorance of commerce.