CHAP. XX.

INCREASED PRICES.

87

CHAPTER XX.

Of tlie effect of the increase of metallic wealth on the variousclasses of society between 1483 and 1583.

In the preceding chapter we have attempted toshow the influence exercised on the mass of com-modities by the increased supply of the preciousmetals which the discovery of America had yielded;and that within the first century after that eventthe quantity of those metals had increased nearlyfivefold, and the prices of commodities in thesame period been enhanced in nearly the sameproportion.

It is now desirable to examine into the effectproduced on the several classes of society by acourse of events which were so new to the genera-tions who lived during the century in which thiscause first exhibited its operations.

The silence of most contemporary writers ontfie subject, or the allusions casually made by afew of them, show that the advance of prices madebut a slight impression during its progress. Itw as not till the end of twenty or thirty years thatthose who looked backwards with attention be-came sensible of the great addition that had beenmade to them. It is to be remembered that tomcrease fivefold in one hundred years, it is not