The History of Rome by Theodor Mommsen (highly recommended books TXT) 📖

and respectability pervaded the whole of Roman life. Every ordinary man was morally bound to keep an account-book of his income and expenditure—in every well-arranged house, accordingly, there was a separate account-chamber (-tablinum-)—and every one took care that he should not leave the world without having made his will: it was one of the three matters in his life which Cato declares that he regretted, that he had been a single day without a testament. Those household books were universally by Roman usage admitted as valid evidence in a court of justice, nearly in the same way as we admit the evidence of a merchant's ledger. The word of a man of unstained repute was admissible not merely against himself, but also in his own favour; nothing was more common than to settle differences between persons of integrity by means of an oath demanded by the one party and taken by the other—a mode of settlement which was reckoned valid even in law; and a traditional rule enjoined the jury, in the absence of evidence, to give their verdict in the first instance for the man of unstained character when opposed to one who was less reputable, and only in the event of both parties being of equal repute to give it in favour of the defendant.(25) The conventional respectability of the Romans was especially apparent in the more and more strict enforcement of the rule, that no respectable man should allow himself to be paid for the performance of personal services. Accordingly, magistrates, officers, jurymen, guardians, and generally all respectable men entrusted with public functions, received no other recompense for the services which they rendered than, at most, compensation for their outlays; and not only so, but the services which acquaintances (-amici-) rendered to each other—such as giving security, representation in lawsuits, custody (-depositum-), lending the use of objects not intended to be let on hire (-commodatum-), the managing and attending to business in general (-procuratio-)—were treated according to the same principle, so that it was unseemly to receive any compensation for them and an action was not allowable even where a compensation had been promised. How entirely the man was merged in the merchant, appears most distinctly perhaps in the substitution of a money-payment and an action at law for the duel —even for the political duel—in the Roman life of this period. The usual form of settling questions of personal honour was this: a wager was laid between the offender and the party offended as to the truth or falsehood of the offensive assertion, and under the shape of an action for the stake the question of fact was submitted in due form of law to a jury; the acceptance of such a wager when offered by the offended or offending party was, just like the acceptance of a challenge to a duel at the present day, left open in law, but was often in point of honour not to be avoided.

Associations

One of the most important consequences of this mercantile spirit, which displayed itself with an intensity hardly conceivable by those not engaged in business, was the extraordinary impulse given to the formation of associations. In Rome this was especially fostered by the system already often mentioned whereby the government had its business transacted through middlemen: for from the extent of the transactions it was natural, and it was doubtless often required by the state for the sake of greater security, that capitalists should undertake such leases and contracts not as individuals, but in partnership. All great dealings were organized on the model of these state-contracts. Indications are even found of the occurrence among the Romans of that feature so characteristic of the system of association—a coalition of rival companies in order jointly to establish monopolist prices.(26) In transmarine transactions more especially and such as were otherwise attended with considerable risk, the system of partnership was so extensively adopted, that it practically took the place of insurances, which were unknown to antiquity. Nothing was more common than the nautical loan, as it was called—the modern "bottomry"—by which the risk and gain of transmarine traffic were proportionally distributed among the owners of the vessel and cargo and all the capitalists advancing money for the voyage. It was, however, a general rule of Roman economy that one should rather take small shares in many speculations than speculate independently; Cato advised the capitalist not to fit out a single ship with his money, but in concert with forty-nine other capitalists to send out fifty ships and to take an interest in each to the extent of a fiftieth part. The greater complication thus introduced into business was overcome by the Roman merchant through his punctual laboriousness and his system of management by slaves and freedmen —which, regarded from the point of view of the pure capitalist, was far preferable to our counting-house system. Thus these mercantile companies, with their hundred ramifications, largely influenced the economy of every Roman of note. There was, according to the testimony of Polybius, hardly a man of means in Rome who had not been concerned as an avowed or silent partner in leasing the public revenues; and much more must each have invested on an average a considerable portion of his capital in mercantile associations generally.

All this laid the foundation for that endurance of Roman wealth, which was perhaps still more remarkable than its magnitude. The phenomenon, unique perhaps of its kind, to which we have already called attention(27)—that the standing of the great clans remained almost the same throughout several centuries—finds its explanation in the somewhat narrow but solid principles on which they managed their mercantile property.

Moneyed Aristocracy

In consequence of the one-sided prominence assigned to capital in the Roman economy, the evils inseparable from a pure capitalist system could not fail to appear.

Civil equality, which had already received a fatal wound through the rise of the ruling order of lords, suffered an equally severe blow in consequence of the line of social demarcation becoming more and more distinctly drawn between the rich and the poor. Nothing more effectually promoted this separation in a downward direction than the already-mentioned rule—apparently a matter of indifference, but in reality involving the utmost arrogance and insolence on the part of the capitalists—that it was disgraceful to take money for work; a wall of partition was thus raised not merely between the common day- labourer or artisan and the respectable landlord or manufacturer, but also between the soldier or subaltern and the military tribune, and between the clerk or messenger and the magistrate. In an upward direction a similar barrier was raised by the Claudian law suggested by Gaius Flaminius (shortly before 536), which prohibited senators and senators' sons from possessing sea-going vessels except for the transport of the produce of their estates, and probably also from participating in public contracts—forbidding them generally from carrying on whatever the Romans included under the head of "speculation" (-quaestus-).(28) It is true that this enactment was not called for by the senators; it was on the contrary a work of the democratic opposition, which perhaps desired in the first instance merely to prevent the evil of members of the governing class personally entering into dealings with the government. It may be, moreover, that the capitalists in this instance, as so often afterwards, made common cause with the democratic party, and seized the opportunity of diminishing competition by the exclusion of the senators. The former object was, of course, only very imperfectly attained, for the system of partnership opened up to the senators ample facilities for continuing to speculate in secret; but this decree of the people drew a legal line of demarcation between those men of quality who did not speculate at all or at any rate not openly and those who did, and it placed alongside of the aristocracy which was primarily political an aristocracy which was purely moneyed—the equestrian order, as it was afterwards called, whose rivalries with the senatorial order fill the history of the following century.

Sterility of the Capitalist Question

A further consequence of the one-sided power of capital was the disproportionate prominence of those branches of business which were the most sterile and the least productive for the national economy as a whole. Industry, which ought to have held the highest place, in fact occupied the lowest. Commerce flourished; but it was universally passive, importing, but not exporting. Not even on the northern frontier do the Romans seem to have been able to give merchandise in exchange for the slaves, who were brought in numbers from the Celtic and probably even from the Germanic territories to Ariminum and the other markets of northern Italy; at least as early as 523 the export of silver money to the Celtic territory was prohibited by the Roman government. In the intercourse with Greece, Syria, Egypt, Cyrene, and Carthage, the balance of trade was necessarily unfavourable to Italy. Rome began to become the capital of the Mediterranean states, and Italy to become the suburbs of Rome; the Romans had no wish to be anything more, and in their opulent indifference contented themselves with a passive commerce, such as every city which is nothing more than a capital necessarily carries on—they possessed, forsooth, money enough to pay for everything which they needed or did not need. On the other hand the most unproductive of all sorts of business, the traffic in money and the farming of the revenue, formed the true mainstay and stronghold of the Roman economy. And, lastly, whatever elements that economy had contained for the production of a wealthy middle class, and of a lower one making enough for its subsistence, were extinguished by the unhappy system of employing slaves, or, at the best, contributed to the multiplication of the troublesome order of freedmen.

The Capitalists and Public Opinion

But above all the deep rooted immorality, which is inherent in an economy of pure capital, ate into the heart of society and of the commonwealth, and substituted an absolute selfishness for humanity and patriotism. The better portion of the nation were very keenly sensible of the seeds of corruption which lurked in that system of speculation; and the instinctive hatred of the great multitude, as well as the displeasure of the well-disposed statesman, was especially directed against the trade of the professional money-lender, which for long had been subjected to penal laws and still continued under the letter of the law amenable to punishment. In a comedy of this period the money-lender is told that the class to which he belongs is on a parallel with the -lenones- —

-Eodem hercle vos pono et paro; parissumi estis ibus.
Hi saltem in occultis locis prostant: vos in foro ipso.
Vos fenore, hi male suadendo et lustris lacerant homines.
Rogitationes plurimas propter vos populus scivit,
Quas vos rogatas rumpitis: aliquam reperitis rimam.
Quasi aquam ferventem frigidam esse, ita vos putatis leges.-

Cato the leader of the reform party expresses himself still more emphatically than the comedian. "Lending money at interest," he says in the preface to his treatise on agriculture, "has various advantages; but it is not honourable. Our forefathers accordingly ordained, and inscribed it among their laws, that the thief should be bound to pay twofold, but the man who takes interest fourfold, compensation; whence we may infer how much worse a citizen they deemed the usurer than the thief." There is no great difference, he elsewhere considers, between a money-lender and a murderer; and it must be allowed that his acts did not fall short of his words—when governor of Sardinia, by his rigorous administration of the law he drove the Roman bankers to their wits' end. The great majority of the ruling senatorial order regarded the system of the speculators with dislike, and not only conducted themselves in the provinces on the whole with more integrity and honour than these moneyed men, but often acted as a restraint on them. The frequent changes of the Roman chief magistrates, however, and the inevitable inequality in their mode of handling the laws, necessarily abated the effort to check such proceedings.

Reaction of the Capitalist System on Agriculture

The Romans perceived moreover—as it was not difficult to perceive —that it was of far more consequence to give a different direction to the whole national economy than to exercise a police control over speculation; it was such views mainly that men like Cato enforced by precept and example on the Roman agriculturist. "When our forefathers," continues Cato in the preface just quoted, "pronounced the eulogy of a worthy man, they praised him as a worthy farmer and a worthy landlord; one who was thus commended was thought to have received the highest praise. The merchant I deem energetic and diligent in the pursuit of gain; but his calling is too much exposed to perils and mischances. On the other hand farmers furnish