New-York tribune., 1921-11-27
r e all Estate
Was a Business
Of the Ancients
Records Show Mortgages
and Leases of Babylonians
Were Similar i'm Verbiagc
to Modern Documents

The mortgaging. leasing and transfer
Of real estate are by no means business
developments Of modern times, for they
were known in early days. long oefo, e
the coming of Christ Records which
have been found buried in the land of
the ancients are conclusive evidence
that real estate practices Of to-day
were those of the Babylonians and the
sultured areas Of the pre- -Christisn era.
Several years ago an American ex-
pedition digging in the Nippur rountry
csms upon the business home IF Ma
rashu Sons, who we're the Morrans Of
Babylon in the days of King Arta-
xerxes l and Darius II, who resigned
four centuri"s h"Sore Christ.
Mortgage of Old
In q room found deep in the ruins
We're foo7,d me- than seven hundred
real estate records impressed in clay
slabs. The reading on one slab, q
record of mortgage, follows closely
the verbiage of the mortgage papers OF
to-day. 1t is as follows:
Thirty bushels of dates are due
to Bel Nadin Shun, son of Marashu,
By Bel Ballitsu and Sha Nabu Shu,
sons of Krebti, and their tenants. In
the month of Tashri (month of har-
vest) Of the thirtyfourth year of King
Artaxerxes !, they shall pay the dates,
thirty bushels, according to the meas
ure of Bel Nadin Shun, in the town of
Bit Baltasu. Their field. cultivated
and uncultivated, their fief estate, is
held as pledge for the dates, name
ly, thirty bushels. by Bel Nadin Shun.
Another creditor shall not have power
over it,"
Then follow the names Of half q
dozen witnesses with their seals.
1t will be noted that this document,
which is trust deed and note in one,
is irst mortgage. as shown by the
final sentence, Another creditor snail
not have power over it,"
1t will be noticed, also. that spe
cific place, as we'll as time, for pay
ment of the debt is provided, just as
IN our modern mortgages or mortgage
bonds.
Interest Rates Before Christ
The amount of interest was not stat
ed, but on all documents of this sort
q legal rate of interest was customa-
rys which ranged in time of peace
from i2 to 30 per cent and in time
Of war to almost any amount.
uc uOtS 1ndCuTSO III ClG mOuLN OF
harvest, exactly as American farmers
getting loans from their banks, have
their notes mature in October and
November
This is modern mortgage as Baby
lonian mortgages go, for many Of them
have been found dating back as far al
2100 B. c., 1000 years ago.
The Babylonians were the Ameri-
cans Of antiquity. They we're nation
Of business men, their mortgages
notes, deeds, wills and other docu-
ments being drawn with great care and
along the same principles as the SINH
lar documents we use to-day. Lawyers
lid fourishing business in Baby
as these people were fond of going to
aw and made all transfers of property
= matter of record Not only did they
invent mortgages. but leases also.
Interest," Lease
One lease found demlsed field and
tishpond for the term of year The
lessee made first payment Of one tai
ent Of silver and, in addition, as GROUND
rent, agreed to furnish the lessor with
a mess OF Ash for his family table
every day.
Another lease transferred = piece OF
improved property for sixty years. the
ground rent being paid in advance and
she tenant being guaranteed against
all Claims Of whatever nature.