The social criticism is clever. Many aristocrats would use the expression “by mine honour” in Shakespeare’s day to the point of it being a cliché. Shakespeare, as well as many of the people in his audience, knew, however, that the expression was meaningless most of the time. Not all aristocrats were men of honor (as Duke Frederick and Oliver clearly reveal in the story).
Celia gets annoyed that the fool (a commoner) is speaking disrespectfully about an aristocrat, and she asks Touchstone the name of the knight about whom he is talking. Touchstone cagily answers that the knight is “one that old Frederick, your father, loves” (68). Possibly, Touchstone could be making up the story about pancakes and mustard to indicate the more universal truth that many aristocrats lack honor. Celia then testily declares that her “father’s love is enough to honour” the accused knight in Touchstone’s story (69). Celia’s response symbolizes the aristocratic attitude: only aristocrats are honorable, and commoners should never question that honor. Of course, the irony in the play indicates otherwise. Since Duke Frederick has acted dishonorably (by usurping his brother’s seat of power), his view regarding another aristocrat’s honor is meaningless.
Touchstone replies with a typical Shakespearean comment regarding the wise men and the fools of the world:
The more pity that fools may not speak wisely what wise men do foolishly. (72-73)