The same principles which regulated maritime commerce governed also the intercourse which nations carried on by land. It would, therefore, be unreasonable to look for what is, oddly enough, denominated “unrestricted freedom,” since, without at all admitting that “the police mixed itself with everything,” we cannot deny that the state, in this, as in all other respects, sought to advance its own interests. Foolish attempts were sometimes made to bring down the price of certain necessaries, as salt, an example of which is mentioned by Aristophanes; but the law was soon abrogated.[[1655]] Had the state been disposed to interfere tyrannically in anything, it would have been where corn was concerned. It is, however, admitted by Bœckh, who has taken the wrong side on this question, that in this article “we certainly find a great freedom of prices,” though the law interfered to prevent the evil consequences to the public of combinations among corn-dealers for the purpose of creating a monopoly.[[1656]]
In general, the business of retail-dealing in the market was confined by law to the citizens, but this was not always rigidly enforced, since we find Egyptians, Phœnicians, and other foreigners, had their stalls there, for which, it would appear, they paid a distinct duty.[[1657]] They were more especially found among the fishmongers and dealers in small wares. But, in the Peiræeus, the number of foreign traders greatly exceeded that of the natives. For their use, moreover, a species of exchange (δεῖγμα) was created, whither they brought specimens of their merchandise for exhibition, the place being usually crowded with buyers from all the neighbouring countries. This was, possibly, the most striking scene in Greece, crowded with merchants from the East, in their gorgeous and varied costumes, intermingled with Greeks of all classes, and gay women who came hither to see and be seen.[[1658]]
On the prices of things in antiquity, compared with those at present prevailing, we have only one way of judging, and that is by ascertaining whether a greater degree of labour was required to provide the necessaries of life. The contrary was certainly the case in Attica, which, nevertheless, was, probably, the most expensive place of residence in the world. Even the slaves would appear to have enjoyed more leisure and exemption from toil than the industrious classes of our own most industrious community: and the citizens themselves, with their numerous festivals and amusements, public and private, evidently devoted a far greater proportion of their time to pleasure than would now be possible to any save the opulent. This, in fact, resulted from the moderate custom duties charged by the state, but much more from the superior fertility of the soil, which yielded greater returns for less labour, and from the comparative fewness of unproductive inhabitants. In modern language, the supply was greater in proportion to the demand. Still, it appears quite certain, that, though the duties laid on by the state were moderate, the merchants and retail dealers made very great profits. “This,” as Bœckh observes, “is sufficiently proved by the high rate of interest on money lent upon bottomry, in which thirty per cent for one summer was not unfrequently paid.”[[1659]]
I am not quite sure that, as a general rule, “a high rate of interest and profit is an infallible sign that industry and trade are yet in their infancy,” and still less that lowness of interest is a sign of a flourishing country.[[1660]] On the contrary, I should infer, from the former, that trade was in that healthy state in which it is scarcely a speculation; and, from the latter, that its current had become stagnant. However, a high interest was paid, and great profits were made in antiquity. Of this a striking example is furnished by Herodotus. A Samian ship trading with Egypt was, by some accident, led to push its way westward, as far as Tartessos, in Iberia, antecedent to the period at which the Greeks began to trade regularly with that port.[[1661]] What the nature and value of its cargo may have been is not known, any more than the articles which it received in exchange. The conjecture, however, that it received silver at a low rate, as the Phœnicians anciently did, is not improbable. At all events, the merchants engaged in this adventure cleared upon that one cargo the sum of sixty talents, of which, in pious gratitude, they dedicated a tenth to Hera the tutelar goddess of their island. And this historian adds, that, with the exception of Sostratos of Ægina, the most fortunate of mercantile adventurers, no Grecian merchant had ever up to his time made so successful a voyage.
[1570]. Thucyd. i. 143. Bœckh, therefore, is certainly in error when he says, that Attica enjoyed all the advantages of insular position. Book i. § 9.
[1571]. Cf. Xen. de Rep. Athen. ii. 6.
[1572]. Bœckh, Pub. Econ. of Athens, i. 65.
[1573]. Xenoph. de Vectig. i. 7.
[1574]. Id. iii. 2.