from which modern legislators might take a lesson.

But these regulations were merely superficial; the main current flowed
in the opposite direction. With the change in the constitution
there was introduced a comprehensive revolution in the financial and
economic relations of Rome, The government of the kings had probably
abstained on principle from enhancing the power of capital, and had
promoted as far as it could an increase in the number of farms.
The new aristocratic government, again, appears to have aimed from
the first at the destruction of the middle classes, particularly of
the intermediate and smaller holdings of land, and at the development
of a domination of landed and moneyed lords on the one hand, and of
an agricultural proletariate on the other.

Rising Power of the Capitalists

The reduction of the port-dues, although upon the whole a popular
measure, chiefly benefited the great merchant. But a much greater
accession to the power of capital was supplied by the indirect system
of finance-administration. It is difficult to say what were the
remote causes that gave rise to it: but, while its origin may
probably be referred to the regal period, after the introduction of
the consulate the importance of the intervention of private agency
must have been greatly increased, partly by the rapid succession of
magistrates in Rome, partly by the extension of the financial action
of the treasury to such matters as the purchase and sale of grain and
salt; and thus the foundation must have been laid for that system of
farming the finances, the development of which became so momentous and
so pernicious for the Roman commonwealth. The state gradually put
all its indirect revenues and all its more complicated payments and
transactions into the hands of middlemen, who gave or received a round
sum and then managed the matter for their own benefit. Of course only
considerable capitalists and, as the state looked strictly to tangible
security, in the main only large landholders, could enter into such
engagements: and thus there grew up a class of tax-farmers and
contractors, who, in the rapid growth of their wealth, in their
power over the state to which they appeared to be servants, and
in the absurd and sterile basis of their moneyed dominion, quite
admit of comparison with the speculators on the stock exchange
of the present day.

Public Land

The concentrated aspect assumed by the administration of finance
s