# Public Fiars ## Definition Official annual valuations of grain prices conducted by assize courts in Scotland to establish fair prices for various grains and qualities. These valuations provided a standardized basis for converting corn rents to money rents and for other legal and commercial purposes. ## Source Chapter Book I, Chapter 11 ## Context Smith mentions public fiars as an example of how governments have attempted to regulate grain prices and provide stability in agricultural markets, though he generally favors market-determined prices over official valuations. ## Economic Domain Regulation ---