Book 2
16
The same people, owing their mercenaries twenty talents of pay and being unable to find it, were giving the leaders of the troop four talents of interest each year. But failing to reduce the capital debt, and committed to this fruitless drain on their revenue, they struck an iron coinage of twenty talents, bearing the face-value of the silver. This they distributed proportionately among the wealthiest citizens, and received from them silver to the same amount. Through this expedient, the private citizens possessed a currency which was good for their daily needs, and the state was relieved of its debt. Next, they proceeded to pay interest out of revenue to those who had advanced the silver; and little by little distributed repayment among them, recalling at the same time the currency of iron.Plut. Lycurgus speaks of an iron currency at Sparta, and Seneca De beneficiis of a leather one. These, not being exchangeable abroad, threw the nation upon its own resources and prevented the import of luxuries.
17
The people of Selybria had a law, passed in time of famine, which forbade the export of grain. On one occasion, however, they were in need of funds; and as they possessed large stores of grain, they passed a resolution that citizens should deliver up their corn to the state at the regular fixed price, each retaining for himself a year’s supply. They then granted right of export to any who desired it, fixing what they deemed a suitable price.
18
At Abydos civil strife had caused the land to remain uncultivated; while the resident aliens, to whom the city was already indebted, refused to make any further advances. A resolution was accordingly passed that anyone who would might lend money to enable the farmers to cultivate their land, on the understanding that the lender had the first claim on its produce; others taking from what was then left.
