By Michael Turner
Enclosures in Britain, 1750-1830 (Studies in fiscal and Social historical past)
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The Money Price Index is taken from B. R. Mitchell, Abstract rif British Historical Statistics (1962),486-7, who reports in shillings per bushel the price of wheat at Exeter, Eton and Winchester. The price series used here is the Winchester one recalculated as an index with base 100 in 1701. This date is chosen to fit in with the base dates used in other indexes itemised below. J 2 o 1110 ... J •..... 10 1780 1770 17110 1790 1800 1810 1820 Money Price of Wheat Real Prices = X 100. Consumer Goods Price Index other than Cereals The Yield on Consols is taken from S.
At Hessle in the East Riding in the I 790s, for example, it was calculated that the opportunity cost of the enclosure was 2 shillings per acre. The expected improvement in rent from 20 to 30 shillings per acre greatly exceeded the foregone income from alternative investment. The principal landowner in the Buckinghamshire hamlet of Sedrup in 1775 calculated the expected improvement on his estate in the event of an enclosure. e. new minus old rents), but rather £232-0-6, which allowed for a deduction of £30 for the improvement of the tithes, and a second deduction of£22-10-0, the foregone income from laying out £560 on enclosure costs at 4!
After enclosure the productivity gains for landlords were just as impressive, 'the rents before were fourteen shillings but now arable lands let to twenty eight shillings per acre; none under a guinea; and grass from forty shillings to three pounds, all tithe free. This rise of rents on enclosing justifies by observation on the 39 expediency of inclosing' [16: 24-5]. It is interesting that Young linked productivity effects for both farmers and landlords together (improved output and improved rent) [on productivity effects see 86: 102-12; 17: 91; and on the problems of relating landlords' profit through rental changes and farmers' profit through productivity gains see 118: 211].