L&T Archive 1998-2003

Price of pins
In Response To: Perhaps Cheaper Than You Think ()

I don't have the price for a paper of pins in the UK, but do have one for York, Upper Canada (Toronto) in 1810: 50 cents. Given that $2 per hour was a fairly common wage, you can get some idea of the relative expense (i.e. about a quarter-hour worth of pay).
Of course, this price adds the expense of transportation across the ocean, and then by boat or wagon a considerable distance.

The use of dollars, rather than pounds, shillings and pence, may strike most readers as odd. There were two reasons for this. First, there was a shortage of actual money and coinage in the colony. (For small sums, pennies, half-pennies, and the like, "tokens" were commonly used; they had no actual value, but everyone acted as if they did.) Therefore, many transactions took place purely "on paper". For example, a merchant might accept farm goods and enter a credit in the ledger for its value, and sell manufactured goods by putting their value in another column. When expanded throughout a whole colony, it sounds as if it could get complicated, but it worked.

Prices in Upper and Lower Canada were often quoted in "New York Currancy", that is dollars and cents. Bookkeeping on a decimal system was far easier. Any government transaction (taxes, tarrifs, army pay, etc.) was done in either Sterling, or "Halifax Currency".

Sorry about getting a bit off topic, but I knew quoting prices in cents would have resulted in a querry anyway.

I remain,
Jason E.

Messages In This Thread

MT: Pinning up each other's train for the dance
Lest one should trip!
what to do with a train
pinning up dresses
button-up trains
Question on pins and sleeves
On train pins and sleeve pins
Thank you, Louisa!
Pins
Perhaps Cheaper Than You Think
Price of pins
A famous example in JA's family