By Philip Kay
During this quantity, Philip Kay examines fiscal swap in Rome and Italy among the second one Punic warfare and the center of the 1st century BC. He argues that elevated inflows of bullion, particularly silver, mixed with a ramification of the provision of credits to supply major progress in financial liquidity. This, in flip, influenced industry advancements, similar to funding farming, alternate, development, and production, and considerably replaced the composition and scale of the Roman economic system.
Using a variety of facts and scholarly research, Kay demonstrates how Rome, within the moment and primary centuries BC, grew to become a coherent financial entity experiencing actual in keeping with capita monetary development. with out an figuring out of this monetary revolution, the contemporaneous political and cultural alterations in Roman society can't be totally comprehended or defined.
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10; cf. 28. 38. 8. Shatzman 1975: 246; ILLRP 309–17; Cic. Tusc. 1. 13; Livy, 38. 56. 4. Plin. HN 14. 47–9; Sen. Ep. 86. 4; Val. Max. 2. 10. 2. Sale of land: Livy, 28. 46. 4–5. 73 74 Livy, 28. 46. 4–6. Polyb. 10. 19. 2; Livy, 27. 36. 12. Livy, 40. 51. 2. 75 The senatorial class may have had an identity of interest with the aerarium, but then so did the whole of Roman society in the dark days of the war. As we have seen, shortage of funds in the state sector was not necessarily mirrored in the private sector.
1, and 635. In quoting these numbers so precisely (with none of the conventional stylization noted by Scheidel (1996)—see Introduction n. 8), Pliny was presumably using a treasury record (see p. 27). Polyb. 31. 32. 8 gives a ratio of 1:10 for gold to silver in connection with the Aetolian indemnity. 8 9 Polyb. 6. 39. 12. Brunt 1988: 262 n. 94. 16 kg11). The amount of 18 million denarii in the treasury in 157 would therefore have been equivalent to 3,002 talents. quincti and which were probably minted in Greece in the mid-190s by T.
6. 5; Plin. HN 33. 48. 23 As we shall see in Chs. 5 and 6, a silver and bronze coinage, combined with the availability of credit, did the job. Our sources, then, give the figures for indemnities and sometimes for booty in talents of silver. But these amounts are largely meaningless unless we can give some idea of what they could actually buy. The following examples give some indication of the cost of major undertakings during the middle and late Republic. They range over time as well as geography, but that is because we have very few reports of the costs of major projects in the second century.