A Day in Old Athens; a Picture of Athenian LifeDavis, William Stearns
History
A Day in Old Athens; a Picture of Athenian Life
Davis, William Stearns
Athens (Greece) -- Social life and customs
[+] Salt fish were a very usual and important article of Greek
commerce.
80. Athenian Money-changers and Bankers.—An important factor in the
commerce of Athens is the “Money-changer.” There is no one fixed
standard of coinage for Greece, let alone the Barbarian world. Athens
strikes its money on a standard which has very wide acceptance, but
Corinth has another standard, and a great deal of business is also
transacted in Persian gold darics. The result is that at the Peiræus
and near the Agora are a number of little “tables” where alert
individuals, with strong boxes beside them, are ready to sell foreign
coins to would-be travelers, or exchange darics for Attic drachmæ,
against a pretty favorable commission.
This was the beginning of the Athenian banker; but from being a mere
exchanger he has often passed far beyond, to become a real master of
credit and capital. There are several of these highly important
gentlemen who now have a business and fortune equal to that of the
famous Pasion, who died in 370 B.C. While the firm of Pasion and
Company was at its height, the proprietor derived a net income of at
least 100 minæ (over $1,800 [1914] or $30,248.07 [2000]) per year from
his banking; and more than half as much extra from a shield factory.[*]
[*] These sums seem absurdly small for a great money magnate, but the
very high purchasing power of money in Athens must be borne in mind.
We know a good deal about Pasion and his business from the speeches
which Deosthenes composed in the litigation which arose over his
estate.
Public-domain text, read in full here on John Shaqi.
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