The World's Progress, Vol. 01 (of 10): With Illustrative texts from Masterpieces of Egyptian, Hebrew, Greek, Latin, Modern European and American LiteratureDelphian Society
History
The World's Progress, Vol. 01 (of 10): With Illustrative texts from Masterpieces of Egyptian, Hebrew, Greek, Latin, Modern European and American Literature
Delphian Society
Civilization -- History; World history
"The mass of the people in Babylonia were employed in the two pursuits
of commerce and agriculture. The commerce was both foreign and domestic.
Great numbers of the Babylonians were engaged in the manufacture of
those fabrics, particularly carpets and muslins, which Babylonia
produced not only for her own use but also for the consumption of
foreign lands. The ordinary trades and handicrafts practised in the East
no doubt flourished in the country. A brisk import and export trade was
constantly kept up, and promoted a healthful activity throughout the
entire body politic. Babylonia is called 'a land of traffic' by Ezekiel,
and Babylon 'a city of merchants.' The monuments show that from the very
earliest times the people of the low country on the borders of the
Persian Gulf were addicted to maritime pursuits and navigated the gulf
freely, if they did not even venture on the open ocean....
"The products of the various countries of Western Asia flowed into
Babylonia down the courses of the rivers. From Armenia came wine, gems,
emery, and perhaps stone; from Phoenicia, tin, copper, musical
instruments; from Media, silk, gold and ivory."[2]
THE PROFESSIONS: THE BANKER.
In ancient times, the money-lender was the banker, and lending money was
foremost in Babylonian professions. Even members of the royal families
were themselves heavy loaners and drew high rates of interest, although,
to be sure, their business transactions were carried on by agents.
The rate of interest varied greatly, being generally higher in Assyria.
In Babylonia it might be 20%, or again 16%, and was rarely as low as
10%. Cases are on record in Assyria where 25% and 33-1/3% were exacted.
As is still customary in the East, interest was computed monthly, and
unless the borrower was well known and trusted, it was paid monthly.
Security for the full amount was always required.
A great firm of Babylon held a position in that country corresponding to
that held by the Rothschilds in England, loaning to the state as well as
to private individuals. Personal deeds and documents belonging to
citizens were stored in the well-protected chambers of this firm as
they are today kept in safety boxes in bank vaults. Banking firms
continued for generations, and immense numbers of wills, deeds of sale,
business contracts, leases, tax certificates, loans and marriage
agreements accumulated within their chambers.
SCRIBES.
While each one pleaded his own case ordinarily, in the courts of
Babylonia, pleas were frequently thrown into form beforehand by a
scribe. These scribes performed duties discharged in later times by
attorneys at law, as well as those which would of necessity fall to
their share. In Babylonia they acted as librarians, authors and
publishers, multiplying copies of books and selling them. In Assyria,
where the art of reading and writing was not so generally known, they
acted as private clerks and secretaries to a wide extent.
MEDICINE.
Public-domain text, read in full here on John Shaqi.
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