The subject of the prices of books is one which always exercises a certain fascination over the minds of book-lovers, although some have expressed their objection to any discussion of it, lest this should have the effect of enhancing prices.
In a single volume it is impossible to deal with so large a subject in any fulness of detail, and I have therefore endeavoured to give a general view, merely instancing a few cases in illustration of the whole, but making an exception in respect of two of the most interesting and high-priced classes of books in literature, namely, the productions of the press of Caxton, and the original editions of Shakespeare’s works.
It is necessary for the reader to bear two points in mind—
(1) That the value of money has changed during each century of our history to an extent not easy to calculate with precision, because the prices of all articles have not been equally affected. We can say generally that definite incomes a hundred years ago were equivalent in worth to twice their nominal amount at the present day, and that those of two hundred years ago would be worth about five times as much. In the fifteenth and sixteenth centuries money was worth ten or twelve times what it is now, but there is some difficulty in calculating correctly the rates respectively of necessaries and luxuries. This is a matter for experts, and cannot be more than alluded to here, as a warning to the reader that he must always remember that a pound or a shilling in previous centuries was of more value than it is to-day, and possessed a much greater purchasing power.
(2) That in dealing with prices we are interested with rare and specially valuable books. Ordinary standard books, even in good editions, were never cheaper than at present.