The History of the Manners and Customs of Ancient Greece, Volume 3 (of 3)St. John, James Augustus
History
The History of the Manners and Customs of Ancient Greece, Volume 3 (of 3)
St. John, James Augustus
Greece -- Social life and customs
I am not quite sure that, as a general rule, “a high rate of interest
and profit is an infallible sign that industry and trade are yet in
their infancy,” and still less that lowness of interest is a sign of a
flourishing country.[1660] On the contrary, I should infer, from the
former, that trade was in that healthy state in which it is scarcely a
speculation; and, from the latter, that its current had become stagnant.
However, a high interest was paid, and great profits were made in
antiquity. Of this a striking example is furnished by Herodotus. A
Samian ship trading with Egypt was, by some accident, led to push its
way westward, as far as Tartessos, in Iberia, antecedent to the period
at which the Greeks began to trade regularly with that port.[1661] What
the nature and value of its cargo may have been is not known, any more
than the articles which it received in exchange. The conjecture,
however, that it received silver at a low rate, as the Phœnicians
anciently did, is not improbable. At all events, the merchants engaged
in this adventure cleared upon that one cargo the sum of sixty talents,
of which, in pious gratitude, they dedicated a tenth to Hera the tutelar
goddess of their island. And this historian adds, that, with the
exception of Sostratos of Ægina, the most fortunate of mercantile
adventurers, no Grecian merchant had ever up to his time made so
successful a voyage.
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Footnote 1660:
Compare Hume’s Essay on Interest, p. 172, sqq. with Mr. Bœckh’s Public
Economy of Athens, i. 82.
Footnote 1661:
Herod. iv. 152.
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CHAPTER X.
NAVIGATION.
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