A Monopoly In
The Sale Of Silk Was Granted To The Imperial Treasurer; And, Indeed, No
Species Of Trade Seems
To have been open and free, except that in cloth.
His addition of one-seventh to the ordinary price of
Copper, so that his
money-changers gave only 180 ounces of that metal, instead of 210, for
one-sixth of an ounce of gold, seems rather to have been the result of
ignorance than of fraud and avarice; since he did not alter the gold coin,
in which alone all public and private payments were made. At this time, the
geographical knowledge of the Romans, respecting what had formerly
constituted a portion of their empire, must have declined in a striking
manner, if we may judge from the absurd and fabulous account which
Procopius gives of Britain. And the commercial relations of the Britons
themselves had entirely disappeared, even with their nearest neighbours;
since, in the history of Gregory of Tours, there is not a single allusion
to any trade between Britain and France.
At the beginning of the seventh century we glean our last notice of any
event connected with the commerce and maritime enterprise of the Romans;
and the same period introduces us to the rising power and commerce of the
Arabians.
Alexandria, though its importance and wealth as a commercial city had long
been on the wane, principally by the removal of most of the oriental trade
to Persia, was still the commercial capital of the Mediterranean, and was
of the utmost importance to Constantinople, which continued to draw from it
an annual supply of about 250,000 quarters of corn; but in the beginning of
this century it was conquered by the Persians, and the emperor was obliged
to enter into a treaty with the conquerors, by which he agreed to pay a
heavy and disgraceful tribute for the corn which was absolutely necessary
for the support of his capital.
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