on a particular business with it, pledged his ship or the goods with which he dealt, or perhaps both, to his creditor in a formal contract. They endeavoured to obtain as much security as possible by very exact arrangements concerning the object of the journey, the nature of the goods, etc.; moreover, the interest in business of this kind was very high, because the creditor ran the risk of losing his bargain entirely, or in part, by storms, or pirates, or other misfortunes. Mortgages were also given on property in land, and the creditor’s right of ownership was inscribed on stone tablets set up on the property in question, with the name of the creditor and the amount of the debt. In some places the State itself conducted books for mortgages, in which all the property was entered, together with the amount of the mortgages upon it. Here, as in other loans, interest was high, and this was due to the insecurity of trade and the very incomplete development of agricultural conditions. There were no laws against usury; from ten to twenty per cent., or higher if it was for risk at sea, was common, but there were even cases where thirty-six or forty-eight per cent. were taken. Of course, in these circumstances complaints of extortion were made. The arrangement of this money business was chiefly in the hands of the bankers. Their original and chief occupation was the changing of money--the various kinds of coinage which became current through foreign trade; and here they got their profit from the rate of exchange. They also lent money, both small sums and capital for trade and other business undertakings, and this was their share in these monetary transactions. Rich people often invested their money with these bankers, who paid them interest and gave them security or pledges; they then themselves lent the money to men of business, and on account of the risk naturally demanded higher interest than they paid. But even when money was lent direct by a capitalist to a merchant, the mediation of a banker was often resorted to in concluding the contract; for these men were well known to the public on account of their extensive business, and possessed considerable business knowledge. As a rule, though some were known as usurers, and trickery and bankruptcy occasionally occurred, they enjoyed so much confidence that they were gladly engaged as witnesses in business contracts, and requested to take charge of the documents. Money also was deposited with them, for which no particular use appeared at the moment, and which would not be safe if kept at home; of course, if this capital lay idle the banker could pay no interest, but often demanded a sum for taking charge of the deposit. Some of them left their money in the hands of money-changers to increase the business capital, and the extent to which this was done is proved by the fact that the banker Pasion, at the time of Demosthenes, in a business