Member Article - The Lowly Farthing

The Lowly Farthing
By

Dewey Maggard


History doesn't repeat itself, it Rhymes'
Attributed to Mark Twain.

Of all the devices that can reveal to the numismatist the fundamental movements of a culture or its economy, it is the monetary phenomena without a doubt which is the most
sensitive. The health of any society has been and is measured by the price rise of the commodities it consumes.
Therefore, men of keen minds will conspire to meet these fluctuations by the minting of coinages to meet the current needs.
Have you ever thought of why there are fractional coinages (or paper money) issued
along side of other current coinages?
At this point of my story, is where I introduce ''The Lowly Farthing'', (originally a
foerthling, a forthling, or four parts). In early times a round silver penny was cut into two or four parts along the lines of the cross on the reverse, thus beginning the process of half pennies or farthings.
It was King Edward I, in 1279 who first struck the round silver farthing along withy a round half penny. These coins were used as money of exchange until a change took place when in 1684 Charles II issued tin farthings with a square plug of copper in the center. Around the edge, the legend inscribed was ''Nummorum Famulus'' which meant (The Knave of Coins). Nevertheless, this King Charles issued the first copper farthing in 1672.
There have been stories in popular tradition that during Queen Anne's rule, three farthings of 1713 were struck. This was due to a few pattern only coins which were struck in 1713. However, the one and only coin of her rule for circulation was minted in 1714 and is by no means considered a rarity, (at least for that time period). This coin has Queen Anne's likeness on the obverse facing left with the legend ''Anna Regina''. On reverse Britannia is seated left.
Why have I titled this story ''The Lowly Farthing''? In my own mind, it is extremely difficult for the majority to grasp the significant role this little coin had in the daily lives of the John Bull families of its time.
It is fitting at this time to give a brief account of ''The Lowly Farthing'' and its fractional counterparts. An English traveler named Arthur Young in his travel diary gives us information on meals at roadside inns. He tells of meals priced at 8 pennies per person
as being above average. This meal consisted of mutton steaks, duck, tarts, cheese, mush-rooms, capers, walnuts and gherkins. At an Inn at Scarborough, he found a meal of cold ham, chicken, lobster, tarts, anchovies and cheese for (1d and ¼ farthing). At Newcastle, an extravagant meal: boiled fowl, oysters, one whole woodcock, all for ½ Crown per person.(This would be 2&1/2 Shillings=12 pennies to the Shilling). He notes this is for the affluent. By these above two meals, it is easy to see a great deal of difference. At Carlisle, (rated good), a broiled chicken, a plover, plate of sturgeon, tarts, mince pie and jellies for 18 pence per person. At Penrith, (good & cheap) is roast beef, apple pudding, potatoes, celery, potted trout and sturgeon- all for 1 Shilling per person. At Kendall, he considers
good and reasonable, a boiled fowl with sauce, roast partridge, potted char? cold ham, tarts and 3 or 4 sorts of foreign sweet meats-all for 8d (pennies) per person. He continues
in his notes—the price of food varies from county to county, but an average price for bread was 2d (pence or 8 farthings) per pound. Beef and mutton either were 4d per pound or 16
farthings. Cheese 3 & ½ d per lb or 14 farthings.
He took note of Bed and Breakfast at the Inn also where he records the average price was 1 shilling for super, bed and breakfast (two meals) -all of this for 12 pennies.
During his travels, he commented, the very poor with soup and cheese for their main meal,
sometimes had a piece of meat.
I would like to make another major comparison of the buying power of the penny which is tied to ''The Lowly Farthing'' of this period of time.,
Let us turn our attention to a Biblical account of 200 pennyworth of bread. In the New Testament b ook of John, 6th Chapter, we find the story of Christ feeding the five thousand with five loaves and two fishes. Here we will deal with the ''miracle of the loaves'' of bread for comparison of buy power and to test the accuracy of the King James Scholars.
From a Numismatic point of view, I believe we can sufficiently proove the validity of the story of the feeding of this multitude by economics. We know from the foregoing and other evidences, the buy power of the farthing. I have shown through Mr Arthur Young's account that the average price of bread was 2d per pound. Now, take the common number of slices to a pound of bread to be sixteen slices. Individual loaves (or buns) as
as we see them today, come in 12 to 16 per package (per pound) depending on the baker.
Therefore, we will use 16 times the 200 pennyworth as Phillp in the book of John said it would take. In this, we find a numeric of 3200 people (200 X 16= 3200). Let us not forget that he also said 200 pennyworth would not be sufficient.
With these thoughts planted, let us be somewhat realistic economically and allow one percent per annum inflation from 33 A.D. to our period say 1733, and we have a 1700 times
factor. Now if you are willing to allow buying power to be much greater in 33 A.D. than in 1733, then we can easily find 4950 people in the scenario John the disciple describes. The
narrative uses round numbers of a multitude of 5000 were fed. In other words whatever the 200 pennyworth represented-taking an increased buying power between the years above, it is not difficult to see the validity of the account as given.
I have in my hands, tangible evidence of a half penny= or money of exchange of two farthings dated 1795. It was used for the purpose of buying your loaf of bread from the bakery. This English Conder Half Penny Token (D&H 297d) was minted for this reason-
''To lessen the slavery of Sunday baking and provide for public wants- an act was passed. From this legend, we also see and realize the coin was to be used as 'money of exchange'
for any other consumer item. What I have stated above is the inscription on the reverse of
this coin. On the Obverse, is a gorgeous old fashioned shock of wheat sheaves bundled together with the legend ''Bakers HaPenny. It may also be noted, skilled workmen such as
bakers would be on a salary at this point in time of 6 to 8 shillings per week, all of which
was very unionized.
In the reality of fractional coins and tokens, we must therefore conclude price revolutions resulting from wars, disasters and weather all played the role of creating these little fractionals.
In final conclusion, a quick look at English buy power during this period, will validate what has been said. For example, The Price index as we know it is not new.
In Great Britain, in 1750 we have a factor of 100 % to start with, which according
to H.D. Trail in ''Social England Volumne 4, their average citizen had 5% over the
100 price index factor.'' Now in 1757, (French Canadian Troubles), we see a -9% buy
power factor. It took from 1769-to 1770 to get back to their index of 100. Then in 1776,
King George's nightmare was accelerated with War of Independence in America at which
time the English buy power declined 15% and by 1783 had declined 29% at home. All of this was a result of wars, and England was reeling at a 56% decline in buying power by the heat of the War of 1812. No wonder poor King George and his cabinet were frantic. Everywhere, Britain was in a terrific struggle, but by 1821 John Bull begain to bounce back. A group of entreprueners had made inroads in financial gains with the East India Company. With much of these gains now coming from India where East India Company had the franchise to mint money for England the situation began to look brigher. In a few
short years by 1838 Victoria was on the throne. During her long rule, the Union Jack began to fly proudly, and this lady Monarch ruled over land mass where the sun never set. By the end of her reign, the buying power of those indominable English had risen to a full
121% over what it was during their encounter with the French., Under this lady, Mr. John Bull and family had arrived to an unprecedented era of prosperity. Let us not under estimate the power of ''The Lowly Farthing''.

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