The valuable Inscription (No. 1845, in his Corpus Inser. Pars
viii, p. 23, sect. 3) proves, that at Korkyra a rate of 2 per
cent. per month, or 24 per cent. per annum, might be obtained
from perfectly solvent and responsible borrowers. For this is a
decree of the Korkyræan government, prescribing what shall be
done with a sum of money given to the state for the Dionysiac
festivals,—placing that money under the care of certain men of
property and character, and directing them to lend it out exactly
at 2 per cent. per month, _neither more nor less_, until a given
sum shall be accumulated. This Inscription dates about the third
or second century B. C., according to Boeckh’s conjecture.
The Orchomenian Inscription, No. 1569, to which Boeckh refers in
the passage above alluded to, is unfortunately defective in the
words determining the rate of interest payable to Eubulus: but
there is another, the Theræan Inscription (No. 2446), containing
the Testament of Epiktêta, wherein the annual sum payable in lieu
of a principal sum bequeathed, is calculated at 7 per cent.;
a rate which Boeckh justly regards as moderate considered in
reference to ancient Greece.
[190] Cæsar, B. G. i, 4, respecting the Gallic chiefs and
plebs: “Die constitutâ causæ dictionis, Orgetorix ad judicium
omnem suam familiam, ad hominum millia decem, undique coëgit:
et omnes clientes, _obœratos_que suos, quorum magnum numerum
habebat, eodem conduxit: per eos, ne caussam diceret, se
eripuit.” Ibid. vi, 13: “Plerique, cum aut _ære alieno_, aut
magnitudine tributorum, aut injuriâ potentiorum, premuntur, sese
in servitutem dicant nobilibus. In hos eadem omnia sunt jura, quæ
dominis in servos.” The wealthy Romans cultivated their large
possessions partly by the hands of adjudged debtors, in the time
of Columella (i, 3, 14): “More præpotentium, qui possident fines
gentium, quos ... aut occupatos nexu civium, aut ergastulis,
tenent.”
According to the Teutonic codes also, drawn up several centuries
subsequently to Tacitus, it seems that the insolvent debtor
falls under the power of his creditor and is subject to personal
fetters and chastisement (Grimm, Deutsche Rechts Alterthümer, pp.
612-615): both he and Von Savigny assimilate it to the terrible
process of personal execution and addiction in the old law of
Rome, against the insolvent debtor on loan. King Alfred exhorts
the creditor to lenity (Laws of King Alfred, Thorpe, Ancient Laws
of England, vol. i, p. 53, law 35).
Public-domain text, read in full here on John Shaqi.
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