But in order to learn a little more of
the history of capital at Rome, which is of the utmost importance for
a proper understanding not only of the economic, but of the social and
ethical characteristics of the age, it is necessary to go as far back
as the war with Hannibal at least.
That there had been surplus capital in the hands of individuals long
before the war with Hannibal is a well known fact, proved by the old
Roman law of debt, and by the traditions of the unhappy relations
of debtor and creditor. But in order not to go back too far, we may
notice a striking fact which meets us at the very outset of that
momentous war. In 215 B.C., and again the next year, the treasury was
almost empty; then for the first time, so far as we know, private
individuals came to the rescue, and lent large sums to the State;[103]
these were partners in certain associations to be described later on
in this chapter, which had made money by undertaking State contracts
in the previous wars. The presence of Hannibal in Italy strained the
resources of the State to the utmost in every way; it cut the Romans
off from their supply of the precious metals, forced them to reduce
the weight of the _as_ to one ounce, and, curiously enough, also to
issue gold coins for the first time,--a measure probably taken on
account of the dearth of silver,--and to make use of the uncoined gold
in the treasury or in private hands.
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