The Grandeur That Was Rome: a survey of Roman culture and civilisationStobart, J. C. (John Clarke)
History
The Grandeur That Was Rome: a survey of Roman culture and civilisation
Stobart, J. C. (John Clarke)
Rome -- Civilization; Rome -- History
Money was easily made in those days and lavishly spent. Even an honest
man like Cicero, governing a comparatively poor province like Cilicia,
made at least £20,000 by his year of office while he remitted to the
provincials a million, which, as he says, any governor of average
morality would have retained. Legacies were a very frequent source
of revenue especially to pleaders, and it was customary for a rich
testator at Rome to make large bequests to his friends. Cicero gained
£200,000 by such legacies. Foreign kings and states paid handsomely
for legal advice or support. Although a barrister was supposed to give
his services for nothing yet gifts and legacies were not refused. For
the financier or business man there were many channels to affluence.
There were mines all over the empire to be financed and exploited.
Although there was little genuine industry at Rome, yet the training
and use of slaves for various undertakings was a lucrative business.
Crassus trained a salvage brigade for Rome and went about to fires with
them in order to make bids for the purchase of the burning property.
Atticus trained a company of copying clerks and made money by the sale
of books. He also kept gladiators and hired them out to magistrates for
the games. Fortunes were made, as in the case of Crassus, by buying
up the confiscated property of the proscribed. Land speculation was
rendered extremely profitable by the frequent assignation of farm-lands
to veteran soldiers who were generally glad to sell them at once.
The extravagance of the Roman nobles led to a very brisk traffic in
loans at high interest. There was a great deal of genuine commercial
speculation in ships and cargoes, generally by companies, and Cato
advises the investor to put his money in fifty different enterprises
rather than in one at a time. Commerce overseas was, however,
forbidden to the senators by the Claudian law, and these speculated
chiefly in land, on which they made a profit by slave-labour. But
the most profitable business of all was tax-farming, in which the
equestrian classes joined together in capitalist rings. In these and
other ways prodigious fortunes were accumulated. The stored-up capital
of the Roman world is astounding in its magnitude compared even to
that of modern times. The real property of Pompeius sold for £700,000.
Æsopus, the popular actor, left £200,000. After the most lavish
donations to the public Crassus left nearly two millions sterling by
will. On the death of Cæsar the treasury contained eight millions in
bullion of which a million was the dictator’s own property.
Public-domain text, read in full here on John Shaqi.
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