An excellent translation into French of “The Customs of the Sea,” which are the most valuable portion of the Book of the Consulate, was published by Pardessus in the second volume of his Collection des lois maritimes (Paris, 1834), under the title of “La Compilation connue sous le nom de consulat de la mer.” See introduction, by Sir Travers Twiss, to the Black Book of the Admiralty (London, 1874), which in the appendix to vol. iii. contains his translation of “The Customs of the Sea,” with the Catalan text.
(T. T.)
CONSUMPTION (Lat. consumere), literally, the act of consuming or destroying. Thus the word is popularly applied to phthisis, a “wasting away” of the lungs due to [tuberculosis] (q.v.). In economics the word has a special significance as a technical term. It has been defined as the destruction of utilities, and thus opposed to “production,” which is the creation of utilities, a utility in this connexion being anything which satisfies a desire or serves a purpose. Consumption may be either productive or unproductive; productive where it is a means directly or indirectly to the satisfaction of any economic want, unproductive when it is devoted to pleasures or luxuries. Its place in the science of economics, and its close relation with production, are treated of in every text-book, but special reference may be made to W. Roscher, Nationalökonomie, 1883, and G. Schönberg, Handbuch d. polit. Ökonomie, 1890-1891.
CONSUS, an ancient Italian deity, originally a god of agriculture. The time at which his festival was held (after harvest and seed-sowing), the nature of its ceremonies and amusements, his altar at the end of the Circus Maximus always covered with earth except on such occasions, all point to his connexion with the earth. In accordance with this, the name has been derived from condere (= Condius, as the “keeper” of grain or the “hidden” god, whose life-producing influence works in the depths of the earth). Another etymology is from conserere (“sow,” cf. Ops Consiva and her festival Opiconsivia). Amongst the ancients (Livy i. 9; Dion. Halic. ii. 31) Census was most commonly identified with Ποσειδῶν ῞Ιππιος (Neptunus Equester), and in later Latin poets Consus is used for Neptunus, but this idea was due to the horse and chariot races which took place at his festival; otherwise, the two deities have nothing in common. According to another view, he was the god of good counsel, who was said to have “advised” Romulus to carry off the Sabine women (Ovid, Fasti, iii. 199) when they visited Rome for the first celebration of his festival (Consualia). In later times, with the introduction of Greek gods into the Roman theological system, Consus, who had never been the object of special reverence, sank to the level of a secondary deity, whose character was rather abstract and intellectual.
His festival was celebrated on the of August and the 15th of December. On the former date, the flamen Quirinalis, assisted by the vestals, offered sacrifice, and the pontifices presided at horse and chariot races in the circus. It was a day of public rejoicing; all kinds of rustic amusements took place, amongst them running on ox-hides rubbed with oil (like the Gr. ἀσκολιασμός). Horses and mules, crowned with garlands, were given rest from work. A special feature of the games in the circus was chariot racing, in which mules, as the oldest draught beasts, took the place of horses. The origin of these games was generally attributed to Romulus; but by some they were considered an imitation of the Arcadian ἱπποκράτεια introduced by Evander. There was a sanctuary of Consus on the Aventine, dedicated by L. Papirius Cursor in 272, in early times wrongly identified with the altar in the circus.
See W. W. Fowler, The Roman Festivals (1899); G. Wissowa, Religion und Kultus der Römer (1902); Preller-Jordan, Römische Mythologie (1881).
CONTANGO, a Stock Exchange term for the rate of interest paid by a “bull” who has bought stock for the rise and does not intend to pay for it when the Settlement arrives. He arranges to carry over or continue his bargain, and does so by entering into a fresh bargain with his seller, or some other party, by which he sells the stock for the Settlement and buys it again for the next, the price at which the bargain is entered being called the making-up price. The rate that he pays for this accommodation, which amounts to borrowing the money involved until the next Settlement, is called the contango.