the spirit of laws-第112章

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r　view　to　the　deliverance　of　the　citizens　with　respect　to　each　other。　This　made　a　second　step　necessary。　It　was　ordained　that　the　denarius；　which　hitherto　contained　but　ten　ases；　should　contain　sixteen。　The　result　of　this　double　operation　was；　that　while　the　creditors　of　the　republic　lost　one…half；＇18＇　those　of　individuals　lost　only　a　fifth；＇19＇　the　price　of　merchandise　was　increased　only　a　fifth；　the　real　change　of　the　money　was　only　a　fifth。　The　other　consequences　are　obvious。

The　Romans　then　conducted　themselves　with　greater　prudence　than　we；　who　in　our　transactions　involved　both　the　public　treasure　and　the　fortunes　of　individuals。　But　this　is　not　all：　their　business　was　carried　on　amidst　more　favourable　circumstances　than　ours。

12。　The　Circumstances　in　which　the　Romans　changed　the　Value　of　the　Specie。　There　was　formerly　very　little　gold　and　silver　in　Italy。　This　country　has　few　or　no　mines　of　gold　or　silver。　When　Rome　was　taken　by　the　Gauls；　they　found　only　a　thousand…weight　of　gold＇20＇　And　yet　the　Romans　had　sacked　many　powerful　cities；　and　brought　home　their　wealth。　For　a　long　time　they　made　use　of　none　but　copper　money；　and　it　was　not　till　after　the　peace　with　Pyrrhus　that　they　had　silver　enough　to　coin　money：＇21＇　they　made　denarii　of　this　metal　of　the　value　of　ten　ases；＇22＇　or　ten　pounds　of　copper。　At　that　time　the　proportion　of　silver　was　to　that　of　copper　as　1　to　960。　For　as　the　Roman　denarius　was　valued　at　ten　ases；　or　ten　pounds　of　copper；　it　was　worth　one　hundred　and　twenty　ounces　of　copper；　and　as　the　same　denarius　was　valued　only　at　one…eighth　of　an　ounce　of　silver；＇23＇　this　produced　the　above　proportion。

When　Rome　became　mistress　of　that　part　of　Italy　which　is　nearest　to　Greece　and　Sicily；　by　degrees　she　found　herself　between　two　rich　nations　　the　Greeks　and　the　Carthaginians。　Silver　increased　at　Rome；　and　as　the　proportion　of　1　to　960　between　silver　and　copper　could　be　no　longer　supported；　she　made　several　regulations　with　respect　to　money；　which　to　us　are　unknown。　However；　at　the　beginning　of　the　second　Punic　war；　the　Roman　denarius　was　worth　no　more　than　twenty　ounces　of　copper；＇24＇　and　thus　the　proportion　between　silver　and　copper　was　no　longer　but　as　1　to　160。　The　reduction　was　very　considerable；　since　the　republic　gained　five…sixths　upon　all　copper　money。　But　she　did　only　what　was　necessary　in　the　nature　of　things；　by　establishing　the　proportion　between　the　metals　made　use　of　as　money。

The　peace　which　terminated　the　first　Punic　war　left　the　Romans　masters　of　Sicily。　They　soon　entered　Sardinia；　afterwards　they　began　to　know　Spain；　and　thus　the　quantity　of　silver　increased　at　Rome。　They　took　measures　to　reduce　the　denarius　from　twenty　ounces　to　sixteen；＇25＇　which　had　the　effect　of　putting　a　nearer　proportion　between　the　silver　and　copper；　thus　the　proportion；　which　was　before　as　1　to　160；　was　now　made　as　1　to　128。

If　we　examine　into　the　conduct　of　the　Romans；　we　shall　never　find　them　so　great　as　in　choosing　a　proper　conjuncture　for　performing　any　extraordinary　operation。

13。　Proceedings　with　respect　to　Money　in　the　Time　of　the　Emperors。　In　the　changes　made　in　the　specie　during　the　time　of　the　republic；　they　proceeded　by　diminishing　it：　in　its　wants；　the　state　entrusted　the　knowledge　to　the　people；　and　did　not　pretend　to　deceive　them。　Under　the　emperors；　they　proceeded　by　way　of　alloy。　These　princes；　reduced　to　despair　even　by　their　liberalities；　found　themselves　obliged　to　degrade　the　specie；　an　indirect　method；　which　diminished　the　evil　without　seeming　to　touch　it。　They　withheld　a　part　of　the　gift　and　yet　concealed　the　hand　that　did　it；　and；　without　speaking　of　the　diminution　of　the　pay；　or　of　the　gratuity；　it　was　found　diminished。

We　even　still　see　in　cabinets　a　kind　of　medals　which　are　called　plated；　and　are　only　pieces　of　copper　covered　with　a　thin　plate　of　silver。＇26＇　This　money　is　mentioned　in　a　fragment　of　the　77th　book　of　Dio。＇27＇

Didius　Julian　first　began　to　debase　it。　We　find　that　the　coin　of　Caracalla＇28＇　had　an　alloy　of　more　than　half；　that　of　Alexander　Severus　of　two…thirds；＇29＇　the　debasing　still　increased；　till　in　the　time　of　Gallienus　nothing　was　to　be　seen　but　copper　silvered　over。＇30＇

It　is　evident　that　such　violent　proceedings　could　not　take　place　in　the　present　age；　a　prince　might　deceive　himself；　but　he　could　deceive　nobody　else。　The　exchange　has　taught　the　banker　to　draw　a　comparison　between　all　the　money　in　the　world；　and　to　establish　its　just　value。　The　standard　of　money　can　be　no　longer　a　secret。　Were　the　prince　to　begin　to　alloy　his　silver；　everybody　else　would　continue　it；　and　do　it　for　him；　the　specie　of　the　true　standard　would　go　abroad　first；　and　nothing　would　be　sent　back　but　base　metal。　If；　like　the　Roman　Emperors；　he　debased　the　silver　without　debasing　the　gold；　the　gold　would　suddenly　disappear；　and　he　would　be　reduced　to　his　bad　silver。　The　exchange；　as　I　have　said　in　the　preceding　book；＇31＇　has　deprived　princes　of　the　opportunity　of　showing　great　exertions　of　authority；　or　at　least　has　rendered　them　ineffectual。

14。　How　the　Exchange　is　a　Constraint　on　despotic　Power。　Russia　would　have　descended　from　its　despotic　power；　but　could　not。　The　establishment　of　commerce　depended　on　that　of　the　exchange；　and　the　transactions　were　inconsistent　with　all　its　laws。

In　1745　the　Czarina　made　a　law　to　expel　the　Jews；　because　they　remitted　into　foreign　countries　the　specie　of　those　who　were　banished　into　Siberia；　as　well　as　that　of　the　foreigners　entertained　in　her　service。　As　all　the　subjects　of　the　empire　are　slaves；　they　can　neither　go　abroad　themselves　nor　send　away　their　effects　without　permission。　The　exchange　which　gives　them　the　means　of　remitting　their　specie　from　one　country　to　another　is　therefore　entirely　incompatible　with　the　laws　of　Russia。

Commerce　itself　is　inconsistent　with　the　Russian　laws。　The　people　are　composed　only　of　slaves　employed　in　agriculture；　and　of　slaves　called　ecclesiastics　or　gentlemen；　who　are　the　lords　of　those　slaves；　there　is　then　nobody　left　for　the　third　estate；　which　ought　to　be　composed　of　mechanics　and　merchants。

15。　The　Practice　of　some　Countries　in　Italy。　They　have　made　laws　in　some　part　of　Italy　to　prevent　subjects　from　selling　their　lands　in　order　to　remove　their　specie　into　foreign　countries。　These　laws　may　be　good；　when　the　riches　of　a　state　are　so　connected　with　the　country　itself　that　there　would　be　great　difficulty　in　transferring　them　to　another。　But　since；　by　the　course　of　exchange；　riches　are　in　some　degree　independent　of　any　particular　state；　and　since　they　may　with　so　much　ease　be　conveyed　from　one　country　to　another；　that　must　be　a　bad　law　which　will　not　permit　persons　for　their　own　interest　to　dispose　of　their　lands；　while　they　can　dispose　of　their　money。　It　is　a　bad　law；　because　it　gives　an　advantage　to　movable　effects；　in　prejudice　to　the　land；　because　it　deters　strangers　from　settling　in　the　country；　and；　in　short；　because　it　may　be　eluded。

16。　The　Assistance　a　State　may　derive　from　Bankers。　The　banker's　business　is　to　change；　not　to　lend；　money。　If　the　prince　makes　use　of　them　to　change　his　specie；　as　he　never　does　it　but　in　great　affairs；　the　least　profit　he　can　give　for　the　remittance　becomes　considerable；　and　if　they　demand　large　profits；　we　may　be　certain　that　there　is　a　fault　in　the　administration。　On　the　contrary；　when　they　are　employed　to　advance　specie；　their　art　consists　in　procuring　the　greatest　profit　for　the　use　of　it；　without　being　liable　to　be　charged　with　usury。

17。　Of　Public　Debts。　Some　have　imagined　that　it　was　for　the　advantage　of　a　state　to　be　indebted　to　itself：　they　thought　that　this　multiplied　riches　by　increasing　the　circulation。

Those　who　are　of　this　opinion　have；　I　believe；　confounded　a　circulating　paper　which　represents　money；　or　a　circulating　paper　which　is　the　sign　of　the　profits　that　a　company　has　or　will　make　by　commerce；　with　a　paper　which　represents　a　debt。　The　first　two　are　extremely　advantageous　to　the　state：　the　last　can　never　be　so；　and　all　that　we　can　expect　from　it　is　that　individuals　have　a　good　security　from　the　government　for　their　money。　But　let　us　see　the　inconveniences　which　result　from　it。

1。　If　foreigners　possess　much　paper　which　represent