The word “ye” as in “ye olde inn” used to be written “Þe olde inn”. Aka “the olde inn”. When thorn fell out of use we replace it with y for these archaic spell

The word “ye” as in “ye olde inn” used to be written “Þe olde inn”. Aka “the olde inn”. When thorn fell out of use we replace it with y for these archaic spellings. But it was always “the”.