The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-02-15

day to education tQdn the eHtlIe
wealth of Croesus," appeared in many
papers the day following the an
nouncement of Rockefeller's recent
gift to education. The popular opin-
ion is that no previous age has pro-
duced men whose wealth compared
with present fortunes.
No man in ancient times so inspired
the world with wonder at his riches
as did Croesus Although others may
have possessed greater wealth, he
was the first to reveal to the eye of
Greece the opulence OF an Asiatic des-
pot. Croesus was King Of Lydia in
the middle Of the sixth century be-
fore Christ, and, while most of our
men of affluence began in compare
tive poverty, he inherited riches gath
cred by long line of wealthy ances-
tors, each of whom combined in his
own person financier, monopolist and
king.
Lydia was a land of great agricul-
tural resources and fabulously pro-
ductive in gold and silver, but, more
than all, it was the first country to
coin money and to use it in interna-
tional commerce. SO that Lydia was
the financial centre of her day. BY
the time of Croesus, Lydia had ex-
tended her rule over the Greek cities
of Asia and the shores and harbors
of the Aegean Sea- Croesus was
brother-in-law of the King of Media,
had formed military and trade al
lance with NebuchadnezZar, King of
Babylon, and also with Greece and
Egypt. 1t is doubtful if any nation
of our day is so at the centre of
things as was Lydia in the time of
Croesus.
Here, then, we have king and
financier, who inherited a fortune
steadily increasing through many
generations, who had control of wide
realms of agriculture, rich mines and
the commerce of wealthy and popu-
lous nations. If the monopoly of a
single industry can now produce hun
dreds of millions in single genera
ton, what could measure the wealth
coming from a monopoly of many in
dustries for nearly two centuries?
Croesus had other advantages. He
was forced to employ no expensive
constitutional attorneys to find flaws
in restrictive legislation, he supported
40 lobby, contributed to no campaign
fund, he had no rivals to divide the
business or to keep down the margin
If profits. He might take all he could
get, and he took nearly all there was.
This illustration, although concern
.ng near contemporary and not con-
corning Croesus himself, will show
now crude the modern methods of
getting profits are. The plain of the
Chorasmi is surrounded by mount
aims, through which there are five
natural channels; the source of the
Aces River it within this valley, the
waters of which were diverted
through the five channels, and thus
the Aces furnished the water which
produced the wealth for six prosper
Gus peoples, five without and one
within the valley formed by the
mountains. An ancient captain c.
industry conceived the idea of put
ting gate at each channel to shut
on the water, thus at the same time
the crops within were destroyed by
flood, those without by drought. AS
this financier had government author
fty there was nothing for the poor
people to do but to make terms with
him; thus by the payment OF annual
o1 70 IN
its old channels, those within paying
not to be flooded and those without
for water for irrigation. He received
a steady income from six peoples for
leaving things as they were.
Before we can arrive at just esti-
mate of the value of ancient and mod
ern fortunes we must fix on a stand
ard of comparison. Many ancient
coins have been preserved. SO that
their weight and fineness is known
BY counting piece of gold of the
same standard and weight as a $40
gold piece as worth $50, and by keep
ing the ancient ratio of 13-1 be-
tween gold and silver, we can arrive
at the exact modern equivalent But
money had a much greater purchasing
power then than now, as these prices
will show. From accurate records
from the time of Croesus we learn
that fat OK sold for 81, a sheep for
twenty cents, bushel Of wheat for
twelve cents, while a days wage was
from twelve to twenty cents. Cattle
were thus cheap out OF all proportion,
but fair average of the whole list
shows that the sum of gold found in
81 put the owner in possession Of
more purchasing power both of prod
uce and labor than $40 could now.
In ancient, as in modern times it is