GOVERNMENTAL REGULATION OF PRICES culmination in the time of Elizabeth. The objects sought to be accomplished were, first, the fixing of fair wages and prices; second, compelling the furnishing of the commodities at the rates fixed, either by committing the offenders to jail or by fines. As a part of the second object was the detailed control of the conduct, diet and apparel of servants and laborers. The rates were sometimes designated as the cus tomary or reasonable rates, sometimes they were prescribed by the statute, and fre quently they were such as should be fixed yearly or oftener by certain of the King's counsellors, justices of the peace, sheriffs, mayors, bailiffs, or other officers. In 37 Edw. Ill, c. 3 (1363) it was enacted "That the price of a young capon shall not pass 3d., and of an 'old, 4 d., of an hen 2 d., of a pullet i d., of a goose 4 d. . . . ' By 25 Hen. VIII, c. 2 (1533) it was provided, that the price of cheese, butter, capons, hens, chickens, and other victuals necessary for existence should be fixed from time to time by certain justices and officers, and further, that those who had such provisions must sell them at the prices fixed. The justifica tion of this statute is said in the preamble to be the dearth of a good and sufficient supply of such provisions, the hard, difficult and uncertain prices, and the enhancing of the prices thereof "by the greedy covetousness and appetites of the owners of such victuals. " The latter reason is no doubt entertained by some good people in modern times as accounting for the unsatisfactory condition of the meat market. As indicating that the attempts at regula tion of prices was not always confined to objects of prime necessity, there was a statute passed in 1533 (25 Hen. VIII, c. 15) providing that certain of the King's officers are authorized on complaint that sellers of books charge unreasonable prices to examine into the matter and to limit the prices of books and the charge for binding them. The price of beer barrels was fixed at x. d. by 35 Hen. VIII, c. 8 (1543). To
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encourage archery, long bows were re quired to be sold at iii. s. and iv. d., and in 33 Hen. VIII. c. 9, is found a schedule of prices for various sorts of bows. By 8 Anne, c. 18 (1709) and 31 Geo. II., c. 29 (1758) the regulation of the old Assize of Bread was more elaborately worked out; the constituents of all kinds of bread, the weight of the loaves, and the price, was regulated according to the price of grain, meal or flour in the public markets, allowing a reasonable profit to the baker. Usury being originally in England an ecclesiastical offense, it is not remarkable to find in the legislation permitting the taking of interest a regulation of the rate and provisions preventing aggravated forms of usury. Such legislation proceeds on the theory that the taking of interest is a privilege and which may be accompanied with restrictions. The English attempts at legislative con trol of prices exerted much influence upon early American legislation. During the financial distresses of the Revolutionary War and the stringency in trade caused by the presence of large quantities of depre ciated currency, the Continental Congress by resolution urged the several states to pass laws for the fixing of prices and the prevention of forestalling, regrating, and engrossing. In 1777 two statutes were passed in Massachusetts. The first recited that "Whereas the avaricious conduct of many persons by daily adding to the now exorbitant price of every necessary and con venient article of life, and increasing the price of labor in general, etc., be it enacted, etc., that the price of farming labor, in the summer season, shall not exceed three shillings by the day, and found, as usual, and so in usual proportion at other seasons of the year. " The wages for other laborers and mechanics is also fixed at the customary price. "The following articles shall not be sold for a higher price than is hereinafter settled, etc., vis., good merchantable wheat, at seven shillings and six pence per bushel,
