The History of Rome, Book IV

The Finances and Public Buildings

An approximate measure of the condition of Roman finance at this period is furnished, in the absence of definite statements, first of all by the public buildings. In the first decades of this epoch these were prosecuted on the greatest scale, and the construction of roads in particular had at no time been so energetically pursued. In Italy the great southern highway of presumably earlier origin, which as a prolongation of the Appian road ran from Rome by way of Capua, Beneventum, and Venusia to the ports of Tarentum and Brundisium, had attached to it a branch-road from Capua to the Sicilian straits, a work of Publius Popillius, consul in 622. On the east coast, where hitherto only the section from Fanum to Ariminum had been constructed as part of the Flaminian highway (ii. 229), the coast road was prolonged southward as far as Brundisium, northward by way of Atria on the Po as far as Aquileia, and the portion at least from Ariminum to Atria was formed by the Popillius just mentioned in the same year. The two great Etruscan highways— the coast or Aurelian road from Rome to Pisa and Luna, which was in course of formation in 631, and the Cassian road leading by way of Sutrium and Clusium to Arretium and Florentia, which seems not to have been constructed before 583—may as Roman public highways belong only to this age. About Rome itself new projects were not required; but the Mulvian bridge (Ponte Molle), by which the Flaminian road crossed the Tiber not far from Rome, was in 645 reconstructed of stone. Lastly in Northern Italy, which hitherto had possessed no other artificial road than the Flaminio-Aemilian terminating at Placentia, the great Postumian road was constructed in 606, which led from Genua by way of Dertona, where probably a colony was founded at the same time, and onward by way of Placentia, where it joined the Flaminio-Aemilian road, and of Cremona and Verona to Aquileia, and thus connected the Tyrrhenian and Adriatic seas; to which was added the communication established in 645 by Marcus Aemilius Scaurus between Luna and Genua, which connected the Postumian road directly with Rome. Gaius Gracchus exerted himself in another way for the improvement of the Italian roads. He secured the due repair of the great rural roads by assigning, on occasion of his distribution of lands, pieces of ground alongside of the roads, to which was attached the obligation of keeping them in repair as an heritable burden. To him, moreover, or at any rate to the allotment-commission, the custom of erecting milestones appears to be traceable, as well as that of marking the limits of fields by regular boundary-stones. Lastly he provided for good -viae vicinales-, with the view of thereby promoting agriculture. But of still greater moment was the construction of the imperial highways in the provinces, which beyond doubt began in this epoch. The Domitian highway after long preparations298 furnished a secure land-route from Italy to Spain, and was closely connected with the founding of Aquae Sextiae and Narbo;299 the Gabinian300 and the Egnatian 301 led from the principal places on the east coast of the Adriatic sea—the former from Salona, the latter from Apollonia and Dyrrhachium—into the interior; the network of roads laid out by Manius Aquillius immediately after the erection of the Asiatic province in 625 led from the capital Ephesus in different directions towards the frontier. Of the origin of these works no mention is to be found in the fragmentary tradition of this epoch, but they were nevertheless undoubtedly connected with the consolidation of the Roman rule in Gaul, Dalmatia, Macedonia, and Asia Minor, and came to be of the greatest importance for the centralization of the state and the civilizing of the subjugated barbarian districts.

In Italy at least great works of drainage were prosecuted as well as the formation of roads. In 594 the drying of the Pomptine marshes—a vital matter for Central Italy—was set about with great energy and at least temporary success; in 645 the draining of the low-lying lands between Parma and Placentia was effected in connection with the construction of the north Italian highway. Moreover, the government did much for the Roman aqueducts, as indispensable for the health and comfort of the capital as they were costly. Not only were the two that had been in existence since the years 442 and 492—the Appian and the Anio aqueducts— thoroughly repaired in 610, but two new ones were formed; the Marcian in 610, which remained afterwards unsurpassed for the excellence and abundance of the water, and the Tepula as it was called, nineteen years later. The power of the Roman exchequer to execute great operations by means of payments in pure cash without making use of the system of credit, is very clearly shown by the way in which the Marcian aqueduct was created: the sum required for it of 180,000,000 sesterces (in gold nearly 2,000,000 pounds) was raised and applied within three years. This leads us to infer a very considerable reserve in the treasury: in fact at the very beginning of this period it amounted to almost 860,000 pounds,302 and was doubtless constantly on the increase.

All these facts taken together certainly lead to the inference that the position of the Roman finances at this epoch was on the whole favourable. Only we may not in a financial point of view overlook the fact that, while the government during the two earlier thirds of this period executed splendid and magnificent buildings, it neglected to make other outlays at least as necessary. We have already indicated how unsatisfactory were its military provisions; the frontier countries and even the valley of the Po303 were pillaged by barbarians, and bands of robbers made havoc in the interior even of Asia Minor, Sicily, and Italy. The fleet even was totally neglected; there was hardly any longer a Roman vessel of war; and the war-vessels, which the subject cities were required to build and maintain, were not sufficient, so that Rome was not only absolutely unable to carry on a naval war, but was not even in a position to check the trade of piracy. In Rome itself a number of the most necessary improvements were left untouched, and the river- buildings in particular were singularly neglected. The capital still possessed no other bridge over the Tiber than the primitive wooden gangway, which led over the Tiber island to the Janiculum; the Tiber was still allowed to lay the streets every year under water, and to demolish houses and in fact not unfrequently whole districts, without anything being done to strengthen the banks; mighty as was the growth of transmarine commerce, the roadstead of Ostia—already by nature bad—was allowed to become more and more sanded up. A government, which under the most favourable circumstances and in an epoch of forty years of peace abroad and at home neglected such duties, might easily allow taxes to fall into abeyance and yet obtain an annual surplus of income over expenditure and a considerable reserve; but such a financial administration by no means deserves commendation for its mere semblance of brilliant results, but rather merits the same censure— in respect of laxity, want of unity in management, mistaken flattery of the people—as falls to be brought in every other sphere of political life against the senatorial government of this epoch.

The Finances in the Revolution

The financial condition of Rome of course assumed a far worse aspect, when the storms of revolution set in. The new and, even in a mere financial point of view, extremely oppressive burden imposed upon the state by the obligation under which Gaius Gracchus placed it to furnish corn at nominal rates to the burgesses of the capital, was certainly counterbalanced at first by the newly-opened sources of income in the province of Asia. Nevertheless the public buildings seem from that time to have almost come to a standstill. While the public works which can be shown to have been constructed from the battle of Pydna down to the time of Gaius Gracchus were numerous, from the period after 632 there is scarcely mention of any other than the projects of bridges, roads, and drainage which Marcus Aemilius Scaurus organized as censor in 645. It must remain a moot point whether this was the effect of the largesses of grain or, as is perhaps more probable, the consequence of the system of increased savings, such as befitted a government which became daily more and more a rigid oligarchy, and such as is indicated by the statement that the Roman reserve reached its highest point in 663. The terrible storm of insurrection and revolution, in combination with the five years' deficit of the revenues of Asia Minor, was the first serious trial to which the Roman finances were subjected after the Hannibalic war: they failed to sustain it. Nothing perhaps so clearly marks the difference of the times as the circumstance that in the Hannibalic war it was not till the tenth year of the struggle, when the burgesses were almost sinking under taxation, that the reserve was touched;304 whereas the Social war was from the first supported by the balance in hand, and when this was expended after two campaigns to the last penny, they preferred to sell by auction the public sites in the capital305 and to seize the treasures of the temples306 rather than levy a tax on the burgesses. The storm however, severe as it was, passed over; Sulla, at the expense doubtless of enormous economic sacrifices imposed on the subjects and Italian revolutionists in particular, restored order to the finances and, by abolishing the largesses of corn and retaining although in a reduced form the Asiatic revenues, secured for the commonwealth a satisfactory economic condition, at least in the sense of the ordinary expenditure remaining far below the ordinary income.

Private Economics

Agriculture

In the private economics of this period hardly any new feature emerges; the advantages and disadvantages formerly set forth as incident to the social circumstances of Italy307 were not altered, but merely farther and more distinctly developed. In agriculture we have already seen that the growing power of Roman capital was gradually absorbing the intermediate and small landed estates in Italy as well as in the provinces, as the sun sucks up the drops of rain. The government not only looked on without preventing, but even promoted this injurious division of the soil by particular measures, especially by prohibiting the production of wine and oil beyond the Alps with a view to favour the great Italian landlords and merchants.308 It is true that both the opposition and the section of the conservatives that entered into ideas of reform worked energetically to counteract the evil; the two Gracchi, by carrying out the distribution of almost the whole domain land, gave to the state 80,000 new Italian farmers; Sulla, by settling 120,000 colonists in Italy, filled up at least in part the gaps which the revolution and he himself had made in the ranks of the Italian yeomen. But, when a vessel is emptying itself by constant efflux, the evil is to be remedied not by pouring in even considerable quantities, but only by the establishment of a constant influx— a remedy which was on various occasions attempted, but not with success. In the provinces, not even the smallest effort was made to save the farmer class there from being bought out by the Roman speculators; the provincials, forsooth, were merely men, and not a party. The consequence was, that even the rents of the soil beyond Italy flowed more and more to Rome. Moreover the plantation- system, which about the middle of this epoch had already gained the ascendant even in particular districts of Italy, such as Etruria, had, through the co-operation of an energetic and methodical management and abundant pecuniary resources, attained to a state of high prosperity after its kind. The production of Italian wine in particular, which was artificially promoted partly by the opening of forced markets in a portion of the provinces, partly by the prohibition of foreign wines in Italy as expressed for instance in the sumptuary law of 593, attained very considerable results: the Aminean and Falernian wine began to be named by the side of the Thasian and Chian, and the "Opimian wine" of 633, the Roman vintage "Eleven," was long remembered after the last jar was exhausted.

Trades

Of trades and manufactur es there is nothing to be said, except that the Italian nation in this respect persevered in an inaction bordering on barbarism. They destroyed the Corinthian factories, the depositories of so many valuable industrial traditions—not however that they might establish similar factories for themselves, but that they might buy up at extravagant prices such Corinthian vases of earthenware or copper and similar "antique works" as were preserved in Greek houses. The trades that were still somewhat prosperous, such as those connected with building, were productive of hardly any benefit for the commonwealth, because here too the system of employing slaves in every more considerable undertaking intervened: in the construction of the Marcian aqueduct, for instance, the government concluded contracts for building and materials simultaneously with 3000 master-tradesmen, each of whom then performed the work contracted for with his band of slaves.

Money-Dealing and Commerce

The most brilliant, or rather the only brilliant, side of Roman private economics was money-dealing and commerce. First of all stood the leasing of the domains and of the taxes, through which a large, perhaps the larger, part of the income of the Roman state flowed into the pockets of the Roman capitalists. The money- dealings, moreover, throughout the range of the Roman state were monopolized by the Romans; every penny circulated in Gaul, it is said in a writing issued soon after the end of this period, passes through the books of the Roman merchants, and so it was doubtless everywhere. The co-operation of rude economic conditions and of the unscrupulous employment of Rome's political ascendency for the benefit of the private interests of every wealthy Roman rendered a usurious system of interest universal, as is shown for example by the treatment of the war-tax imposed by Sulla on the province of Asia in 670, which the Roman capitalists advanced; it swelled with paid and unpaid interest within fourteen years to sixfold its original amount. The communities had to sell their public buildings, their works of art and jewels, parents had to sell their grown-up children, in order to meet the claims of the Roman creditor: it was no rare occurrence for the debtor to be not merely subjected to moral torture, but directly placed upon the rack. To these sources of gain fell to be added the wholesale traffic. The exports and imports of Italy were very considerable. The former consisted chiefly of wine and oil, with which Italy and Greece almost exclusively—for the production of wine in the Massiliot and Turdetanian territories can at that time have been but small— supplied the whole region of the Mediterranean; Italian wine was sent in considerable quantities to the Balearic islands and Celtiberia, to Africa, which was merely a corn and pasture country, to Narbo and into the interior of Gaul. Still more considerable was the import to Italy, where at that time all luxury was concentrated, and whither most articles of luxury for food, drink, or clothing, ornaments, books, household furniture, works of art were imported by sea. The traffic in slaves, above all, received through the ever-increasing demand of the Roman merchants an impetus to which no parallel had been known in the region of the Mediterranean, and which stood in the closest connection with the flourishing of piracy. All lands and all nations were laid under contribution for slaves, but the places where they were chiefly captured were Syria and the interior of Asia Minor.309

Ostia

Puteoli

In Italy the transmarine imports were chiefly concentrated in the two great emporia on the Tyrrhene sea, Ostia and Puteoli. The grain destined for the capital was brought to Ostia, which was far from having a good roadstead, but, as being the nearest port to Rome, was the most appropriate mart for less valuable wares; whereas the traffic in luxuries with the east was directed mainly to Puteoli, which recommended itself by its good harbour for ships with valuable cargoes, and presented to merchants a market in its immediate neighbourhood little inferior to that of the capital— the district of Baiae, which came to be more and more filled with villas. For a long time this latter traffic was conducted through Corinth and after its destruction through Delos, and in this sense accordingly Puteoli is called by Lucilius the Italian "Little Delos"; but after the catastrophe which befel Delos in the Mithradatic war,310 and from which it never recovered, the Puteolans entered into direct commercial connections with Syria and Alexandria, and their city became more and more decidedly the first seat of transmarine commerce in Italy. But it was not merely the gain which was made by the Italian exports and imports, that fell mainly to the Italians; at Narbo they competed in the Celtic trade with the Massiliots, and in general it admits of no doubt that the Roman merchants to be met with everywhere, floating or settled, took to themselves the best share of all speculations.

Capitalist Oligarchy

Putting together these phenomena, we recognize as the most prominent feature in the private economy of this epoch the financial oligarchy of Roman capitalists standing alongside of, and on a par with, the political oligarchy. In their hands were united the rents of the soil of almost all Italy and of the best portions of the provincial territory, the proceeds at usury of the capital monopolized by them, the commercial gain from the whole empire, and lastly, a very considerable part of the Roman state-revenue in the form of profits accruing from the lease of that revenue. The daily-increasing accumulation of capital is evident in the rise of the average rate of wealth: 3,000,000 sesterces (30,000 pounds) was now a moderate senatorial, 2,000,000 (20,000 pounds) was a decent equestrian fortune; the property of the wealthiest man of the Gracchan age, Publius Crassus consul in 623 was estimated at 100,000,000 sesterces (1,000,000 pounds). It is no wonder, that this capitalist order exercised a preponderant influence on external policy; that it destroyed out of commercial rivalry Carthage and Corinth311 as the Etruscans had formerly destroyed Alalia and the Syracusans Caere; that it in spite of the senate upheld the colony of Narbo.312 It is likewise no wonder, that this capitalist oligarchy engaged in earnest and often victorious competition with the oligarchy of the nobles in internal politics. But it is also no wonder, that ruined men of wealth put themselves at the head of bands of revolted slaves,313 and rudely reminded the public that the transition is easy from the haunts of fashionable debauchery to the robber's cave. It is no wonder, that that financial tower of Babel, with its foundation not purely economic but borrowed from the political ascendency of Rome, tottered at every serious political crisis nearly in the same way as our very similar fabric of a paper currency. The great financial crisis, which in consequence of the Italo-Asiatic commotions of 664 f. set in upon the Roman capitalist-class, the bankruptcy of the state and of private persons, the general depreciation of landed property and of partnership-shares, can no longer be traced out in detail; but their general nature and their importance are placed beyond doubt by their results—the murder of the praetor by a band of creditors,314 the attempt to eject from the senate all the senators not free of debt,315 the renewal of the maximum of interest by Sulla,316 the cancelling of 75 per cent of all debts by the revolutionary party.317 The consequence of this system was naturally general impoverishment and depopulation in the provinces, whereas the parasitic population of migratory or temporarily settled Italians was everywhere on the increase. In Asia Minor 80,000 men of Italian origin are said to have perished in one day.318 How numerous they were in Delos, is evident from the tombstones still extant on the island and from the statement that 20,000 foreigners, mostly Italian merchants, were put to death there by command of Mithradates.319 In Africa the Italians were so many, that even the Numidian town of Cirta could be defended mainly by them against Jugurtha.320 Gaul too, it is said, was filled with Roman merchants; in the case of Spain alone—perhaps not accidentally—no statements of this sort are found. In Italy itself, on the other hand, the condition of the free population at this epoch had on the whole beyond doubt retrograded. To this result certainly the civil wars essentially contributed, which, according to statements of a general kind and but littletrustworthy, are alleged to have swept away from 100,000 to 150,000 of the Roman burgesses and 300,000 of the Italian population generally; but still worse was the effect of the economic ruin of the middle class, and of the boundless extent of the mercantile emigration which induced a great portion of the Italian youth to spend their most vigorous years abroad.

A compensation of very dubious value was afforded by the free parasitic Helleno-Oriental population, which sojourned in the capital as diplomatic agents for kings or communities, as physicians, schoolmasters, priests, servants, parasites, and in the myriad employments of sharpers and swindlers, or, as traders and mariners, frequented especially Ostia, Puteoli, and Brundisium. Still more hazardous was the disproportionate increase of the multitude of slaves in the peninsula. The Italian burgesses by the census of 684 numbered 910,000 men capable of bearing arms, to which number, in order to obtain the amount of the free population in the peninsula, those accidentally passed over in the census, the Latins in the district between the Alps and the Po, and the foreigners domiciled in Italy, have to be added, while the Roman burgesses domiciled abroad are to be deducted. It will therefore be scarcely possible to estimate the free population of the peninsula at more than from 6 to 7 millions. If its whole population at this time was equal to that of the present day, we should have to assume accordingly a mass of slaves amounting to 13 or 14 millions. It needs however no such fallacious calculations to render the dangerous tension of this state of things apparent; this is loudly enough attested by the partial servile insurrections, and by the appeal which from the beginning of the revolutions was at the close of every outbreak addressed to the slaves to take up arms against their masters and to fight out their liberty. If we conceive of England with its lords, its squires, and above all its City, but with its freeholders and lessees converted into proletarians, and its labourers and sailors converted into slaves, we shall gain an approximate image of the population of the Italian peninsula in those days.

The economic relations of this epoch are clearly mirrored to us even now in the Roman monetary system. Its treatment shows throughout the sagacious merchant. For long gold and silver stood side by side as general means of payment on such a footing that, while for the purpose of general cash-balances a fixed ratio of value was legally laid down between the two metals,321 the giving one metal for the other was not, as a rule, optional, but payment was to be in gold or silver according to the tenor of the bond. In this way the great evils were avoided, that are otherwise inevitably associated with the setting up of two precious metals; the severe gold crises—as about 600, for instance, when in consequence of the discovery of the Tauriscan gold-seams322 gold as compared with silver fell at once in Italy about 33 1/3 per cent—exercised at least no direct influence on the silver money and retail transactions. The nature of the case implied that, the more transmarine traffic extended, gold the more decidedly rose from the second place to the first; and that it did so, is confirmed by the statements as to the balances in the treasury and as to its transactions; but the government was not thereby induced to introduce gold into the coinage. The coining of gold attempted in the exigency of the Hannibalic war323 had been long allowed to fall into abeyance; the few gold pieces which Sulla struck as regent were scarcely more than pieces coined for the occasion of his triumphal presents. Silver still as before circulated exclusively as actual money; gold, whether it, as was usual, circulated in bars or bore the stamp of a foreign or possibly even of an inland mint, was taken solely by weight. Nevertheless gold and silver were on a par as means of exchange, and the fraudulent alloying of gold was treated in law, like the issuing of spurious silver money, as a monetary offence. They thus obtained the immense advantage of precluding, in the case of the most important medium of payment, even the possibility of monetary fraud and monetary adulteration. Otherwise the coinage was as copious as it was of exemplary purity. After the silver piece had been reduced in the Hannibalic war from 1/72 324 to 1/84 of a pound,325 it retained for more than three centuries quite the same weight and the same quality; no alloying took place. The copper money became about the beginning of this period quite restricted to small change, and ceased to be employed as formerly in large transactions; for this reason the -as- was no longer coined after perhaps the beginning of the seventh century, and the copper coinage was confined to the smaller values of a -semis- (1/4 pence) and under, which could not well be represented in silver. The sorts of coins were arranged according to a simple principle, and in the then smallest coin of the ordinary issue—the -quadrans- (1/8 pence)—carried down to the limit of appreciable value. It was a monetary system, which, for the judicious principles on which it was based and for the iron rigour with which they were applied, stands alone in antiquity and has been but rarely paralleled even in modern times.