Lecture 9

Since, now, we have sufficiently determined what pertains to the science [of moneymaking], we must now pass through what pertains to its use. For all such things have their free contemplation, but experience is also necessary.

Now there are useful parts of moneymaking around the things in which it is possible to be experienced: what kinds of things are most valuable, and where, and how they can be acquired--for example, the ownership of certain kinds of horses, or cattle, or sheep, and likewise also with the rest of the animals. For one must be experienced about which of these, compared with the others, is the most valuable, and which kinds in which places, since some abound in some regions, and others in others. Then, about the cultivation of the land, both cleared and planted; and about the cultivation of bees, and of the other animals, swimming and winged, from which sorts of things it happens one can acquire help. These, therefore, are the first and most proper parts of moneymaking.

Of the other, which consists in exchange, the first and most important division is commerce (of which there are three kinds- the provision of a ship, the conveyance of goods, exposure for sale- these again differing as they are safer or more profitable), the second is usury, the third, service for hire- of this, one kind is employed in the mechanical arts, the other in unskilled and bodily labor. There is still a third sort of wealth getting intermediate between this and the first or natural mode which is partly natural, but is also concerned with exchange, viz., the industries that make their profit from the earth, and from things growing from the earth which, although they bear no fruit, are nevertheless profitable; for example, the cutting of timber and all mining. The art of mining, by which minerals are obtained, itself has many branches, for there are various kinds of things dug out of the earth.

Of the several divisions of wealth-getting I now speak generally; a minute consideration of them might be useful in practice, but it would be tiresome to dwell upon them at greater length now.

Those occupations are most truly arts in which there is the least element of chance; they are the meanest in which the body is most deteriorated, the most servile in which there is the greatest use of the body, and the most illiberal in which there is the least need of excellence.

Works have been written upon these subjects by various persons; for example, by Chares the Parian, and Apollodorus the Lemnian, who have treated of Tillage and Planting, while others have treated of other branches; any one who cares for such matters may refer to their writings.

It would be well also to collect the scattered stories of the ways in which individuals have succeeded in amassing a fortune; for all this is useful to persons who value the art of getting wealth. There is the anecdote of Thales the Milesian and his financial device, which involves a principle of universal application, but is attributed to him on account of his reputation for wisdom. He was reproached for his poverty, which was supposed to show that philosophy was of no use. According to the story, he knew by his skill in the stars while it was yet winter that there would be a great harvest of olives in the coming year; so, having a little money, he gave deposits for the use of all the olive-presses in Chios and Miletus, which he hired at a low price because no one bid against him. When the harvest-time came, and many were wanted all at once and of a sudden, he let them out at any rate which he pleased, and made a quantity of money. Thus he showed the world that philosophers can easily be rich if they like, but that their ambition is of another sort. Thales is supposed to have given a striking proof of his wisdom.

But, as I was saying, his device for getting wealth is of universal application, and is nothing but the creation of a monopoly. It is an art often practiced by cities when they are want of money; they make a monopoly of provisions.

There was a man of Sicily, who, having money deposited with him, bought up an the iron from the iron mines; afterwards, when the merchants from their various markets came to buy, he was the only seller, and without much increasing the price he gained 200 per cent. Which when Dionysius heard, he told him that he might take away his money, but that he must not remain at Syracuse, for he thought that the man had discovered a way of making money which was injurious to his own interests.

He made the same discovery as Thales; they both contrived to create a monopoly for themselves. And statesmen as well ought to know these things; for a state is often as much in want of money and of such devices for obtaining it as a household, or even more so; hence some public men devote themselves entirely to finance.

Quoniam autem quae ad scientiam etc. After the philosopher taught knowledge of the origin of moneymaking and its properties and parts, he here consequently determines what belongs to its use.

And he first says what his intention is.

Second, he carries out what was proposed here: sunt autem pecuniativae, etc.

Therefore, he first says that because we have sufficiently determined about moneymaking in what belongs to knowing its nature, what belongs to its use—how it ought to be used—must briefly and passingly be laid out. For all things of this sort that belong to human workings, have free, that is, expedient, contemplation; because it is easy to consider these things in the universal, but it is nevertheless necessary that experience be had about these things so that man can have their perfect use.

Then, when he says sunt autem pecuniativae, etc., he determines what belongs to the use of moneymaking. And about this he does two things.

First, he distinguishes its parts.

Second, he lays out certain useful lessons for moneymaking, at: quoniam autem a quibusdam, etc.

About the first he does two things.

First, he indicates the parts of the moneymaking that is necessary for human life.

Second, the parts of the moneymaking that is not necessary are here: translativae autem, etc.

But he said above that the moneymaking is necessary through which man acquires money from the things that nature serves for the necessities of life; and he lays out two parts of this.

Following the first of these, man is able to acquire money from the buying and selling of things. And he says about this part that such [kinds of] moneymaking are useful parts [of moneymaking]—that is, certain useful lessons—so that man may become experienced about goods of this sort which can be possessed by men—which of these is of the greatest value, and where they can be sold for the greatest price, and how—for instance, at what time, or following other conditions. And he explains what possessable goods he is talking about. For there is a certain possessing of horses, and cattle, and sheep, and of other animals. And he who desires to gain money from these must be an expert about which of these are most precious, and in what places—because other of these abound in other regions—so that he may buy in a place where they abound, and sell in a place where they are precious.

However, the second part of this possessing is that a man should acquire a supply of these goods for sale: that is, through cultivating the earth, either cleared land that is without trees, as it is in fields that wheat may be sown; or planted land, like vineyards, and gardens, and olive orchards. For through cultivation of this sort, man acquires an abundance of wheat and of wine and of other things of this sort; and man must be experienced in cultivating bees, and other animals, both swimming creatures—like fish—and also winged creatures—like birds; and from whatever he happens to acquire help for human life. Because from an abundance of these things the acquisition of money can come to be. So thus it is clear that these are the first and most proper parts of moneymaking: and they are called the first and most proper because like this money is acquired from natural things, because of which money was first discovered.

Then, when he says translativae autem, etc., he distinguishes the parts of transferred moneymaking.

Now he said above that transferred moneymaking is that through which money is acquired not from things that are necessary for life, but from certain other things.

And it is called “transferred” because money is transferred from natural things to things of this sort.

About the first he does three things.

First, he distinguishes the parts of this moneymaking.

Second, he excuses himself from a more diligent study of these parts here: de unaquaque autem, etc.

Third, he clarifies certain things that he had said here: sunt autem maxime, etc.

About the first he lays out four parts of this moneymaking,

the first and greatest of which is mercantilism [mercativa]. For merchants most of all acquire money.

And he distinguishes this first part from the second in three parts:

the first is shipping [naucleria], which merchants practice at sea.

Now the other is called phortigia—that is, freight, for phortion in Greek means “burdened” or “freighted”--which merchants practice on land through the transportation of freight in wagons or on beasts of burden.

And the third is called parastasis—that is, assistance—as when someone does not bear merchandise either by sea or by land, but assists merchants by communicating [communicationem] money or other goods to them. And such parts differ from each other, because some of them are more certain, as are ventures [mercationes] by land, but some make their gain increase greatly, as do ventures by sea, which are nevertheless more dangerous.

The second governing part of this transferred moneymaking is toquismos—that is, usury—which acquires money through interest.

The third part is mistarina—that is, wage-earners, as with those who hire out their labor for a wage of money. In this there is a certain difference, because a certain wage-earning comes to be through the arts of banausas, that is, the blemishing of the body, as with the art of cooking, and other services of this sort. Another, however, comes to be through labors that are not artful, and that are useful only for the body, and in which only the body is useful, as those who for a wage are employed to dig in a field, or to do something else like this.

The fourth part is a middle between the transferred moneymaking and the first, necessary moneymaking, and it has something of both: that which acquires gain through mining stones or metals from the earth. For it has this in common with the first moneymaking: it is from the earth and concerns those things generated from the earth, as agriculture is about those things that are generated from the earth. With the transferred moneymaking, however, it fits in this: that metals of this sort do not make any produce that belongs to the necessities of life, like fields and animals make: but they are useful for other purposes, such as for framing houses or constructing other instruments. And this fourth part includes [complectitur] within itself diverse genera [of moneymaking] following the different kinds of metals: gold, silver, iron, and others like this.

Then, when he says de unaquaque autem, etc., he excuses himself from a perfect determination of these things, and he says that these parts have been usefully discussed. But it would be useful for the workings of those who wish to acquire money that the particulars of each be more diligently determined; but nevertheless, it is tedious for those reaching after greater things to linger too long over things of this sort.

Then, when he says sunt autem maxime, he explains certain things that he had said about the workings of the banausi, and the un-artful [laborers]. And he says that those workings are most of all artful in which fortune is least at work: for we say that something comes to be from fortune that comes to be beyond the foresight [praevisio] of reason, in which art consists. So those workings whose outcome is mostly subject to fortune are the least artful: and conversely, those workings whose effects are least subject to fortune are the most artful, as those of a builder, and other artisans. But those workings are are most of all banausic—that is, most base and cheap—for which the body is most blemished, as of dyers, and those who wash dishes, and others of this sort. But those workings are most of all slavish where there greater part of employment [usus] is on the part of the body, and the least is on the part of the reason—as of those who bear freight [onera: lit... burdens], and messengers, and this sort. But those are the most ignoble of all for which the least virtue is required—either of soul or of body—as is apparent in any of the aforementioned things.

Then, when he says quoniam autem a quibusdam, etc., he proposes useful lessons for the previously advanced parts of moneymaking.

And he first teaches lessons of this sort for consideration from writings [scripturis].

Second, from examples, here: adhuc autem et dicta etc.

Therefore, he first says that because certain wise men had written about what has been advanced, as a certain man named Chares of Paros, and Apollodorus of Lemnos had written about agriculture, both cleared land and plantations, as Palladius did among the Latins, and it has also been written by others about other of the parts that have been advanced. Each one who has care should more fully study to know from their books the things that have been advanced.

Then, when he says adhuc autem et dicta etc., he proposes a lesson from examples that have been studied.

And first he proposes his intention.

Second, he adds an example, here: puta quod et Thaleo etc.

Therefore, he first says that one must not only study the books of those who constructed the arts concerning the aforementioned parts, but also if what was said is dispersed in diverse stories about people who acquired much money, one must consider things of this sort. For these will be useful to those who intend to acquire money.

Then, when he says puta quod et Thaleo, etc., he adds two examples,

the second of which begins here: in Sicilia autem, etc.

About the first he does two things.

First, he proposes the example.

Second, he shows what it is useful for, here: est autem quemadmodum diximus, etc.

It needs to be understood about the first that Thaeles of Miletus was the one of the seven wise men who first began to have zeal for natural philosophy—the other six wise men being occupied with human affairs. His deed [factum] has a certain useful study for acquiring money, although it is ascribed not to desire for money, but to wisdom: and from his deed, there can be taken up a certain universal lesson for acquiring money. For when he was reproached by some people because he was poor, and that thus his philosophy was not useful to him, he studied through astrology—of which he was an expert [experienced? Perior...]—that in a future the next year, there would be an abundance of olives beyond what was customary: for in the preceding year there also had been an abundance of olives, but usually there is a shortage of olives after an abundance. Since, therefore, there was still an abundance of olives in winter, he gave a little money to the cultivators of olives in two cities—Miletus and Chios—as a surety for the produce of the next year, which it was believed would grow very little. Therefore, when the time came for olives, when many people were suddenly and at once seeking to buy olives, he taxes the price however he wished; and thus collecting much money, he showed that for philosophers it is easy to become wealthy if they wish, but their zeal is not for this: in in this manner, Thales showed his wisdom.

Then, when he says est autem quemadmodum diximus, etc., he shows what an example of this sort of moneymaking is useful for: and he says that it is extremely useful for acquiring money if someone were able to prepare for a monopoly—that is, an only and individual seller [rework]—so that he alone sells something in a city. For polis in Greek, written with a small o and short i signifies a city; written with a small o and a y, it signifies in Greek a multitude; but written with a large o it signifies sale. And so it is written in turn that a polis is a town, but a polis with reference to many is a polis as in “to sell”: from which is said monopolia, that is, a sale of one. And because this does much for acquiring money, therefore certain cities, when they lack money, institute a monopoly, so that the community alone will sell salt, or something of this sort.

Then, when he says in Sicilia autem, etc., he lays out a second example.

And first he narrates the deed,

second he shows that it returns to the same thing as the first.

Therefore, he first says that since a certain man in Sicily had laid up some money on himself, he bought at once all the iron from the mines in which smelted. And so, when merchants came, only he was selling, and without making an excessive price, so that he could quickly sell; nevertheless, he gained one hundred talents from fifty. But Dionysius, the tyrant of the Syracusans, perceiving this swift wealth, mandated that he could no longer dwell in Syracuse, permitting him, however, to carry his money with him. For that some citizen should gain much wealth is thought by tyrants to be unfitting for them, as will be said later.

Then, when he says quod vero visum fuit, etc., he shows that this returns to the same thing as the first: because both to this Sicilian and to Thales the philosopher it seemed the same: that they should set up a monopoly. And it is also useful for political [leaders] to consider, because for many cities it is necessary to acquire money, as also for households; and all the more to the degree that a city lacks many things. And therefore, for some who are zealous about the rules of the city, the governing intention seems to be toward this, so that they may multiply money in the public coffers.