The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-11-19
A Review Of Mr.. Del Mars
Book by the Associate Editor

archaic Rome Is fabulous. To this
nust now be added its early monetary
history. That, too, is fabulous. 1t is
quite possible that the ecrliest money
OF Rome was the ace grave, or heavy
copper brick, held as reserve but
represented in the circulation by
leather notes. 1t is also possible tnat
this was followed by the ace signatum
and afterwards by silver coins. Ac-
cording to Charisius, Varro wrote:
1T Is said that silver money was first
made c'confiatum") by Servius Tul-
Illus. 1t was more valuable by four
scrupulums than it Is now The de-
narius contained about go English
grains of silver during the Augastan
age, when Varro write, but" adds
Mr.. Del Mar, "as he was bookworm,
VINO gathered his knowledge chiefly
from ancient authors, these circum-
stances go for nothing
After some discussion of the con-
tentions OF numismatists, Mr.. Del Mar
concludes that "the order of systems
was as follows: l. Ace grave, with
leather notes; 2. Ace signatnm; 3. Sill
yer land copper SYSTEM mentioned by
Varro, the silver coins (denarii)
weighing each about lib grains, many
specimens of these coins being still
eAtant; A. A. U. 1863, nummulary sys-
TEN; s. A. u. 437, gold, silver anu cop
per system, the silver denarius weigh
ing rs 3-4 grains"
Both the examples of the Greek
republics and the writings of Plato
and other philosophers had taught the
Romans the advantages OF limited
and exclusive system of money issued
by the state, and having little or no
worth other than what 1t derived from
its usefulness and efficiency in meas
uring the value OF commodities and
services. The proof that the Romans
were familiar with such system OF
money appears IL the writings OF Paul
| us, the jurisconsult, who enunciated
its principles long after the system
had ceased to exist. Had no sue s.
| tenn ever existed in Rome, Paulus
would have had no warrant in the
Roman law for the monetary prin-
ciples he laid down. AS felted paper
was unknown,> the symbols of this
| system could most conveniently be
made of copper. Therefore, the means
| necessary to secure and maintain such
a money were for the state to monop-
olize the copper mines, restrict the
| commerce in copper, strike copper
pieces of high artistic merit, in order
to defeat counterfeiting, stamp them
with the mark of the state, render
them the sole legal tenders for the
| payment of domestic contracts, taxes,
| fines, and debts, limit their emission
! Until their value (from universal de-
mand for them and their comparative
scarcity rose to more than that of
the metal of which they were COM
| posed, and maintain such restriction
and generalization as the permanent
| policy of the state. For foreign trade
or diplomacy supply of gold and sill
yer, coined and uncoined, could be
kept In the treasury. There are am
| pie evidences that means of this char
acter were, in fact. employed by the
Roman republic; and therefore, that
such was the system OF money 1t
adopted"
This was the "nummuiary" system.
Bronze nunmi were issued by the
state. which had monopolized tho cop
per mines and regulated the commerce
In copper. Ii strictly monopoized the
fabrication of these nummi. the de-
signs Of which were OF great beauty:
they were the sole legal tenders for
payment OF contracts. taxes. fines.
and debts" their emission was go
limited that the value OF nummus was
about five times as great as the same
weight of nncolnod copper 'and for
a lengthy period they retained this
high generalization. but eventually
the system broke down. probably aud
most likely because oI the crafty work
Of those who have engineered none.
taIy crimes In all age6~tho usurers.
To avoid taking up too much space.
We must come to the year A. Il. Ti0
| tAhuut III II. c.. when the Roman
coinage syatem vas permanently or
Eanlsed under Augustus THE coin.
age pferugatItu waA divided between
the oserelgn-pontin aud the aenalc
the foruier retaining that Of eold aud
realgnlnK 10 the latter that of silver
ana copper. In short time. through