I observe that no one has replied to this query. I do not have an answer.
The price of land at the period was normally assessed at so many years
purchase, based on a rental yield. The following may be helpful: L.S.
Pressnell, 'The rate of interest in the eighteenth century' in idem (ed.),
Studies in the industrial revolution presented to T.S. Ashton (Athlone
Press, Univ. of London 1960), 178-215.
I thought I remembered something on the subject in Economic History review,
but cannot see it. I do not think that it had in mind (though it might be):
R. Grassby, 'The rate of profit in 17th century England' Eng. Hist. Rev. 84
(1969), 1721-51.
The legal maximum interest rate in 1699 was 6%. This was reduced to 5%
during the 1710s.
The rent per acre will of course vary with the quality of the land, but
there might be something in the Agrarian History. I am not particularly
familiar with that work as agricultural history is not normally my subject.
Dr Peter King
49, Stourbridge Road,
Hagley
Stourbridge
West Midlands
DY9 0QS
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01562-720368
-----Original Message-----
From: From: Local-History list [mailto:[log in to unmask]] On
Behalf Of Ruth Paley
Sent: 04 April 2012 12:39
To: [log in to unmask]
Subject: FW: Price of land in Kent, 1699
Here is the second of Germaine Warkentin's queries.
Regards
Ruth
-----Original Message-----
From: H-Net List for British and Irish History
[mailto:[log in to unmask]] On Behalf Of Richard Gorrie
Sent: 04 April 2012 09:59
To: [log in to unmask]
Subject: Price of land in Kent, 1699
Subject: Price of land in Kent, 1699
From: Germaine Warkentin <[log in to unmask]>
Date: 2 April, 2012 4:24:24 PM EDT
In a pamphlet, "Penshurst Church and Village" (1970) an anonymous local
historian reports that in 1699 Gilbert Spencer of Red Leafe, near Penshurst
in Kent, bought 97 acres of land in the neighbourhood for £1700. Spenser was
in an excellent position to find good land and purchase it, as he was
Receiver-General of Land Taxes in Kent from 1689 to 1701 (TNA E182/429,
430). Was he paying a high price, a low price, or did the unnamed local
historian get the figures wrong? Thanks for advice, Germaine.
--
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Germaine Warkentin // English (Emeritus), University of Toronto
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http://www.individual.utoronto.ca/germainew/
"May you be given bread and beer"
-- Ancient Egyptian Prayer for the Dead
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