Front Page Titles (by Subject) Corn Rents. - Money and the Mechanism of Exchange
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Corn Rents. - William Stanley Jevons, Money and the Mechanism of Exchange 
Money and the Mechanism of Exchange (New York: D. Appleton and Co. 1876).
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The question arises whether, having regard to these extreme changes in the values of the precious metals, it is desirable to employ them as the standard of value in long lasting contracts. We are forced to admit that the statesmen of Queen Elizabeth were far-seeing when they passed the Act which obliged the colleges of Oxford, Cambridge, and Eton, to lease their lands for corn rents. The result has been to make those colleges far richer than they would otherwise have been, the rents and endowments expressed in money having sunk to a fraction of their ancient value.
I believe that there is no legal impediment in the way of a landlord leasing his lands at present for a corn rent, or an iron, or coal, or any other rent. All that the law requires is that the contract shall be perfectly definite, and of exactly determinate meaning, so that the kind of commodity intended, and the quantity of that commodity, shall be exactly ascertainable. But the law, in defining legal tender money, provides against misapprehensions concerning money payments, whereas there is no security that mistakes and difficulties will not arise in taking other commodities as the matter of rents. Moreover any single commodity, such as corn or coal, undergoes considerable fluctuations from year to year, and as regards periods of ten or twenty years, might prove not to be so good a standard as silver or gold. Commodities which are comparatively steady in value on the average of long periods may be subject to great temporary variations of supply or demand.