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and gold coin must have been brought into use some years later ; though neither the exact epoch, nor under whose authority it was first struck, is known. Pliny says: « Proximum scelus fecit, qui primus ex auro denarium signavit: quod et ipsum latet actore incerto.”* Both, however, date above a hundred years after the death of Pericles; -a circumstance that seems extraordinary, when we consider the abundance of gold and silver coins at Athens at that epoch, and the connexion which had so long existed between the Italians and Greeks. Placing the effigy of the chief of the state on Roman coins, was a distinction granted by the senate to Julius Cæsar,t and afterwards practised under the emperors that succeeded him. In the time of Augustus money was in great abundance at Rome, and continued for some time even to in

Pyrrhum regem devictum, usus est. Librales (unde etiam nunc libella dicitur, et dupondius), appendebantur asses.-Plin. Hist. Natur. lib. xxxiii. c. 3.

* Plin. lib. xxxiii. c. 3.

+ Il existe des monnoies d'argent et d'or avec l'effigie de César, qui ont été frappées de son vivant, l'an 709, et l'an 710, de la fondation de Rome. Dion, (lib. xliv. c. 4) nous apprend que le sénat avoit accordé à César le privilége d'avoir son effigie empreinte sur la monnoie Romaine ; et plusieurs médailles nous assurent que ce décret fut mis en exécution.

Brerewood, quoting Suetonius, says:

Tiberius Cæsar corasit et reliquit vigesies septies millies Sestertiâm. Quod totum ante annum Caligula dissipavit;"

crease.

“ Les médailles de César avec sa tête, frappées de son vivant, sont celles qui présentent du côté de la tête les légendes Cæsar Imperator, Cæsar Dictator quarto, Cæsar Dictator perpetuo, Cæsar Parens Patriæ, et se trouvent gravées dans le Thesaurus familiarum Romanorum de Morellius, sous les familles Æmilia, Cossutia, et Mettia ; car Lucius Æmilius Buca, Marcus Mettius, et Caius Cossutius Mariclianus sont les magistrats qui les ont fait frapper. Sur la plûpart de ces monnoies, le type du revers est Vénus victorieuse, Venus victrix, qui avoit été le mot de l'ordre dans la bataille de Pharsale.

“ Un plus grand nombre de médailles à l'effigie de César ont été fabriquées après sa mort, et la plậpart sous les triumvirs. Alors la légende offre ordinairement l'épithete de Divus attribuée à César."--Letter from Chevalier Visconti to the Author, dated 17th August, 1814.

and he computes this in English money at 21,093,750 pounds sterling. Notwithstanding the dissipations of Caligula and Nero, and the vast sums then sent into foreign countries to procure articles of lůxury, in the time of Pliny, whose death happened eleven years after that of Nero, money seems to have been still very abundant, if we may form a judgment of it by the immense public charges, the inordinate expenses of the emperor and persons of rank, and the quantities of specie that continued to be annually exported. On the author's expressing to the Chevalier Visconti, the difficulty he found in tracing the sources whence the Romans continued so long to receive the prodigious sums that appear to have been expended and exported by them, M. Visconti, in a letter to him on the subject, observes : Les anciens tiroient les métaux précieux pour la plus grande partie de l'Afrique, dont les mines qui existent, à ce que l'on croit, sur les côtes Orientales de cette immense péninsule, aujourd'hui ne sont pas exploitées. En outre,

de plusieurs mines de l'Espagne et d'autres contrées de l'empire Romain, mines qui sont maintenant épuisées, ou que l'on a abandonnées comme peu profitables. Les métaux précieux monnoiés devoient s'élever dans l'empire Romain à une valeur immense, à ce que l'on peut juger par le nombre infini de pièces d'or des Empereurs Romains, que depuis tant de siècles on trouve et on fond tous les jours.”--It is said, that in the mines of Spain alone, 40,000 workmen were employed.* But all those resources gradually declined, many of them became entirely exhausted; luxury and public expenditure continued; the money in circulation rapidly disappeared; to supply the want of it, recourse was had to the ruinous measure of debasing the coin, by encreasing the alloy. In the time of Caracalla, or about 174

years

after the death of Tiberius, half the weight of the coin was of base metal; under Alexander Severus, who was proclaimed Emperor

* Strabo, lib. iïi.

about fourteen years after the death of Caracalla, two thirds was alloy; and under Gallienus, who began to reign about twentyfive years after Severus, copper washed with silver was put in circulation, and forced on the public for the value of the coin it represented.

If it seem extraordinary that people so enlightened as the ancient Hindūs and Egyptians appear to have been, did not, at the times we have been treating of, fabricate money, it is at least as surprising that the Chinese, one of the most industrious people in the world, are, even at this hour, without

money of their own, and continue to give and receive in payment metals by weight according to their quality. Vast quantities of coin annually flow into their country from the nations they trade with ; they cannot, therefore, be ignorant of its utility ; but if the nations with whom the ancient Hindūs and Egyptians had intercourse, were, like themselves, without money, we may at most accuse them of want of invention, but not of obstinately,

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