I heard Shippey lecture on the origin of "hobbit" and other names as they originated in folklore - Lal is on the same track in her above post. However, the weight/measure source idea is fascinating! And who's to say it wasn't part of the "leafmould" of Tolkien's imagination...
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'Mercy!' cried Gandalf. 'If the giving of information is to be the cure of your inquisitiveness, I shall spend all the rest of my days in answering you. What more do you want to know?' 'The whole history of Middle-earth.. .'
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