The Evolution of StatesRobertson, J. M. (John Mackinnon)
History
The Evolution of States
Robertson, J. M. (John Mackinnon)
Europe -- Politics and government; Great Britain -- Politics and government; Political science -- History
As for the falling-off in the yield of the Spanish mines, to which some
writers seem to attribute the whole collapse, it could only mean that
the Roman Government at length realised what had been as true before
and has been as true since, that _all_ gold-mining, save in the case of
the richest and easiest mines, separately considered, or of groups of
mines which have been acquired at less cost than went to find and open
them, is carried on at a loss as against the standing competition of the
great mass of precious metal above-ground at any moment, the output of
unknown barbarian toil and infinite slave labour, begun long before the
age of written history.[220] When it was reluctantly realised that the
cost of working either the gold or the silver mines was greater to the
State than their product,[221] they would be abandoned; though under a
free government private speculators would have been found ready to risk
more money in reopening them immediately. As a matter of fact, the
Spanish mines were actually worked by the Saracens in the Middle Ages,
and have been since. The Romans had made the natural blunder of greed in
taking all gold and silver mines into the hands of the State,[222] where
speculative private enterprise would have gone on working them at a
loss, and so adding--vainly enough--to the total bullion in circulation,
on which the State could levy its taxes. Even as it was, when they were
losing nothing, but rather checking loss, by abandoning the mines, a
falling-off in revenue from one source could have been made good by
taxation if the fiscal system had remained unimpaired, and if the former
income of Italy had not been affected by other causes than a stoppage of
mining output.
If the mere cessation of public gold-mining were the cause of a general
weakening of the imperial power, and by consequence the cause of the
collapse in Italy, it ought equally to have affected the Eastern Empire,
which we know to have possessed a normal sufficiency of bullion all
through the Dark and Middle Ages, though it had no mines left.[223] The
fact is that, when Valentinian and Valens divided the Empire between
them, the former chose the western half because he shared the delusion
that the Spanish mines were a greater source of real wealth than the
fruitful provinces of the east. Those could always procure the bullion
they required, because they had produce to exchange for it. Gold mines
even of average fertility could have availed no more; and if Italy had
remained agriculturally productive she could have sustained herself
without any mines.
Public-domain text, read in full here on John Shaqi.
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