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. At the end of the war the supply
of silver was recovered; henceforward all reckonings were made in
silver, and the gold coinage was not long continued.

At this happy time, when Rome felt that she could breathe again after
the final defeat of her deadly enemy, began the great inpouring of
wealth of which the capitalism of Cicero's time is the direct result.
The chief sources of this wealth, so far as the State was concerned,
were the indemnities paid by conquered peoples, especially Carthage
and Antiochus of Syria, and the booty brought home by victorious
generals. Of these Livy has preserved explicit accounts, and the best
example is perhaps that of the booty brought by Scipio Asiaticus
from Asia Minor in 189 B.C., of which Pliny remarks that it first
introduced luxury into Italy.[104] It has been roughly computed that
the total amount from indemnities may be taken at six million of our
pounds, in the period of the great wars of the second century B.C.,
and from booty very much the same sum. Besides this we have to take
account of the produce of the Spanish silver mines, of which the
Romans came into possession with the Carthaginian dominions in Spain;
the richest of these were near Carthago Nova, and Polybius tells us
that in his day they employed 40,000 miners, and produced an immense
revenue.[105]

All this went into the aerarium, except what was distributed out of
t