Babylonians and Assyrians, Life and Customs by Archibald Henry Sayce (animal farm read TXT) 📖

but little rise in wages in subsequent centuries. A butcher was paid only 1 shekel for a month's work in the third year of Cambyses, as has been noticed above, and even skilled labor was not much better remunerated. In the first year of Cambyses, for instance, only half a shekel was paid for painting the stucco of a wall, though in the same year 67 shekels (£10 1s.) were given to a seal-cutter for a month's labor. Slavery prevented wages from rising by flooding the labor market, and the free artisan had to compete with a vast body of slaves. Hence it was that unskilled work was still so commonly paid in kind rather than in coin, and that the workman was content if his employer provided him with food. Thus in the second year of Nabonidos we are told that the "coppersmith," Libludh, received 7 qas (about 8½ quarts) of flour for overlaying a chariot with copper, and in the seventeenth year of the same reign half a shekel of silver and 1 gur of wheat from the royal storehouse were paid to five men who had brought a flock of sheep to the King's administrator in the city of Ruzabu. The following laconic letter also tells the same tale: "Letter from Tabik-zeri to Gula-ibni, my brother. Give 54 qas of meal to the men who have dug the canal. The 9th of Nisan, fifth year of Cyrus, King of Eridu, King of the World." The employer had a right to the workman's labor so long as he furnished him with food and clothing.


CHAPTER VII. THE MONEY-LENDER AND BANKER


Among the professions of ancient Babylonia, money-lending held a foremost place. It was, in fact, one of the most lucrative of professions, and was followed by all classes of the population, the highest as well the lowest. Members of the royal family did not disdain to lend money at high rates of interest, receiving as security for it various kinds of property. It is true that in such cases the business was managed by an agent; but the lender of the money, and not the agent, was legally responsible for all the consequences of his action, and it was to him that all the profits went.

The money-lender was the banker of antiquity. In a trading community like that of Babylonia, where actual coin was comparatively scarce, and the gigantic system of credit which prevails in the modern world had not as yet come into existence, it was impossible to do without him. The taxes had to be paid in cash, which was required by the government for the payment of a standing army, and a large body of officials. The same causes which have thrown the fellahin of modern Egypt into the hands of Greek usurers were at work in ancient Babylonia.

In some instances the money-lender founded a business which lasted for a number of generations and brought a large part of the property of the country into the possession of the firm. This was notably the case with the great firm of Egibi, established at Babylon before the time of Sennacherib, which in the age of the Babylonian empire and Persian conquest became the Rothschilds of the ancient world. It lent money to the state as well as to individuals, it undertook agencies for private persons, and eventually absorbed a good deal of what was properly attorney's business. Deeds and other legal documents belonging to others as well as to members of the firm were lodged for security in its record-chambers, stored in the great earthenware jars which served as safes. The larger part of the contract-tablets from which our knowledge of the social life of later Babylonia is derived has come from the offices of the firm.

In the early days of Babylonia the interest upon a loan was paid in kind.

But the introduction of a circulating medium goes back to an ancient date, and it was not long before payment in grain or other crops was replaced by its equivalent in cash. Already before the days of Amraphel and Abraham, we find contracts stipulating for the payment of so many silver shekels per month upon each maneh lent to the borrower. Thus we have one written in Semitic-Babylonian which reads: "Kis-nunu, the son of Imur-Sin, has received one maneh and a half of silver from Zikilum, on which he will pay 12 shekels of silver (a month). The capital and interest are to be paid on the day of the harvest as guaranteed. Dated the year when Immerum dug the Asukhi canal." Then follow the names of three witnesses.

The obligation to repay the loan on "the day of the harvest" is a survival from the time when all payments were in kind, and the creditor had a right to the first-fruits of the debtor's property. A contract dated in the reign of Khammurabi, or Amraphel, similarly stipulates that interest on a loan made to a certain Arad-ilisu by one of the female devotees of the Sun-god, should be paid into the treasury of the temple of Samas "on the day of the harvest." The interest was reckoned at so much a month, as in the East to-day; originally it had to be paid at the end of each month, according to the literal terms of the agreement, but as time went on it became usual to reserve the payment to the end of six months or a year. It was only where the debtor was not considered trustworthy or the security was insufficient that the literal interpretation of the agreement was insisted on.

The rate of interest, as was natural, tended to be lower with the lapse of time and the growth of wealth. In the age of the Babylonian empire and the Persian conquest the normal rate was, however, still as high as 1 shekel a month upon each maneh, or twenty per cent. But we have a contract dated in the fifth year of Nebuchadnezzar in which a talent of silver is lent, and the interest charged upon it is not more than half a shekel per month on the maneh, or ten per cent. Three years later, in another contract, the rate of interest is stated to be five-sixths of a shekel, or sixteen and two-thirds per cent, while in the fifteenth year of Samas-sum-yukin the interest upon a loan of 16 shekels is only a quarter of a shekel. At this time Babylonia was suffering from the results of its revolt from Assyria, which may explain the lowness of the rate of interest. At all events, six years earlier, Remut, one of the members of the Egibi firm, lent a sum of money to a man and his wife without charging any interest at all upon it, and stipulating only that the money should be repaid when the land was again prosperous.

At times, however, money was lent upon the understanding that interest would be charged upon it only if it were not repaid by a specified date. Thus in the ninth year of Samas-sum-yukin half a maneh was lent by Suma to Tukubenu on the fourth of Marchesvan, or October, upon which no interest was to be paid up to the end of the following Tisri, or September, which corresponded with "the day of the harvest" of the older contracts; but after that, if the money were still unpaid, interest at the rate of half a shekel a month, or ten per cent., would be charged. At other times the interest was paid by the year, as with us, and not by the month; in this case it was at a lower rate than the normal twenty per cent. In the fourteenth year of Nabopolassar, for example, a maneh of silver was lent at the rate of 7 shekels on each maneh per annum - that is to say, at eleven and two-thirds per cent. - and under Nebuchadnezzar money was borrowed at annual interest of 8 shekels for each maneh, or thirteen and one-third per cent.

Full security was taken for a loan, and the contract relating to it was attested by a number of witnesses. Thus the following contract was drawn up in the third year of Nabonidos, a loan of a maneh of silver having been made by one of the members of the Egibi firm to a man and his wife: "One maneh of silver, the property of Nadin-Merodach, the son of Iqisa-bel, the son of Nur-sin, has been received by Nebo-baladan, the son of Nadin-sumi, and Bau-ed-herat, the daughter of Samas-ebus. In the month Tisri (September) they shall repay the money and the interest upon it. Their upper field, which adjoins that of Sum-yukin, the son of Sa-Nebo-sû, as well as the lower field, which forms the boundary of the house of the Seer, and is planted with palm-trees and grass, is the security of Nadin-Merodach, to which (in case of insolvency) he shall have the first claim. No other creditor shall take possession of it until Nadin-Merodach has received in full the capital and interest. In the month Tisri the dates which are then ripe upon the palms shall be valued, and according to the current price of them at the time in the town of Sakhrin, Nadin-Merodach shall accept them instead of interest at the rate of thirty-six qas (fifty quarts) the shekel (3s.). The money is intended to pay the tax for providing the soldiers of the king of Babylon with arms. Witnessed by Nebo-bel-sunu, the son of Bau-akhi, the son of Dahik; Nebo-dîni-ebus, the son of Kinenunâ; Nebo-zira-usabsi, the son, Samas-ibni Bazuzu, the son of Samas-ibni; Merodach-erba, the son of Nadin; and the scribe Bel-iddin, the son of Bel-yupakhkhir, the son of Dabibu. Dated at Sakhrinni, the 28th day of Iyyar (April), the third year of Nabonidos, King of Babylon."

In Assyria the rate of interest was a good deal higher than it was in Babylonia. It is true that in a contract dated 667 B.C., one of the parties to which was the son of the secretary of the municipality of Dur-Sargon, the modern Khorsabad, it is twenty per cent., as in Babylonia, but this is almost the only case in which it is so. Elsewhere, in deeds dated 684 B.C., 656, and later, the rate is as much as twenty-five per cent., while in one instance - a deed dated 711 B.C. - it rises to thirty-three and a third per cent. Among the witnesses to the last-mentioned deed are two "smiths," one of whom is described as a "coppersmith," and the other bears the Armenian name of Sihduri or Sarduris. The money is usually reckoned according to the standard of Carchemish. That the rate of interest should have been higher in Assyria than in Babylonia is not surprising. Commerce was less developed there, and the attention of the population was devoted rather to war and agriculture than to trade. It seems to have been the conquest of Western Asia, the subjugation of the Phoenician cities, and above all the incorporation of Babylonia in the empire, which introduced a commercial spirit into Nineveh, and made it in the latter days of its existence an important centre of trade. Indeed, one of the objects of the Assyrian campaigns in Syria was to divert the trade of the Mediterranean into Assyrian hands; the fall of Carchemish made Assyria mistress of the caravan-road which led across the Euphrates, and of the commerce which had flowed from Asia Minor, while the ruin of Tyre and Sidon meant prosperity to the merchants of Nineveh. Nevertheless, the native population of Assyria was slow to avail itself of the commercial advantages which had fallen to it, and a large part of its trading classes were Arameans or other foreigners who had