In message , at 17:58:22 on Mon, 1
Nov 2004, Terry Harper remarked:
Back in the 1950s, 5/- was about 25% above the hourly rate for labourers, so
today's equivalent would be the minimum wage of £4.90 per hour+25%, say
£6.12. That's a factor of about 24 to 1.

Whereas the £300 vs £20,000 is 67:1

Perhaps the £300 was a little on the low side - being £1.50 an hour or 3
shillings and nine pence an hour.
--
Roland Perry