On Revenues [3]
state exchequer. And to secure this augmentation of the revenues, mind you, not the outlay of one single penny; nothing needed beyond one or two philanthropic measures and certain details of supervision.[9]
[8] See Zurborg, "Comm." p. 24.
[9] See Aristot. "Pol." iv. 15, 3.
With regard to the other sources of revenue which I contemplate, I admit, it is different. For these I recognise the necessity of a capital[10] to begin with. I am not, however, without good hope that the citizens of this state will contribute heartily to such an object, when I reflect on the large sums subscribed by the state on various late occasions, as, for instance, when reinforcements were sent to the Arcadians under the command of Lysistratus,[11] and again at the date of the generalship of Hegesileos.[12] I am well aware that ships of war are frequently despatched and that too[13] although it is uncertain whether the venture will be for the better or for the worse, and the only certainty is that the contributor will not recover the sum subscribed nor have any further share in the object for which he gave his contribution.[14]
[10] "A starting-point."
[11] B.C. 366; cf. "Hell." VII. iv. 3.
[12] B.C. 362; cf. "Hell." VII. v. 15. See Grote, "H. G." x. 459; Ephor. ap. Diog. Laert. ii. 54; Diod. Sic. xv. 84; Boeckh, ap. L. Dindorf. Xenophon's son Gryllus served under him and was slain.
[13] Reading {kai tauta toutout men adelou ontos}, after Zurborg.
[14] Reading {[uper] on an eisenegkosi} with Zurborg. See his note, "Comm." p. 25.
But for a sound investment[15] I know of nothing comparable with the initial outlay to form this fund.[16] Any one whose contribution amounts to ten minae[17] may look forward to a return as high as he would get on bottomry, of nearly one-fifth,[18] as the recipient of three obols a day. The contributor of five minae[19] will on the same principle get more than a third,[20] while the majority of Athenians will get more than cent per cent on their contribution. That is to say, a subscription of one mina[21] will put the subscriber in possession of nearly double that sum,[22] and that, moreover, without setting foot outside Athens, which, as far as human affairs go, is as sound and durable a security as possible.
[15] "A good substantial property."
[16] Or, "on the other hand, I affirm that the outlay necessary to form the capital for my present project will be more remunerative than any other that can be named." As to the scheme itself see Grote, "Plato," III. ch. xxxix.; Boeckh, op. cit. (pp. 4, 37, 136, 600 seq. Eng. tr.) Cf. Demosth. "de Sym." for another scheme, 354 B.C., which shows the "sound administrative and practical judgment" of the youthful orator as compared with "the benevolent dreams and ample public largess in which Xenophon here indulges." --Grote, op. cit. p. 601.
[17] L40:12:4 = 1000 drachmae.
[18] I.e. exactly 18 or nearly 20 per cent. The following table will make the arithmetic clear:--
6 ob. = 1 drachma 10 minae = 6000 ob. 100 dr. = 1 mina = 1000 dr. 600 ob. = 1 mina 1000 dr.:180 dr.::100:18 therefore nearly 1/5 3 ob. (a day) x 360 = 1080 ob. p.a. = nearly 20 per cent. = 180 dr. p.a.
As to the 3 obols a day (= 180 dr. p.a.) which as an Athenian citizen he is entitled to, see Grote, op. cit. p. 597: "There will be a regular distribution among all citizens, per head and equally. Three oboli, or half a drachma, will be allotted daily to each, to poor and rich alike" [on the principle of the Theorikon]. "For the poor citizens this will provide a comfortable subsistence, without any contribution on their part; the poverty now prevailing will thus be alleviated. The rich, like the poor, receive the daily triobolon as a free gift; but if they compute it as interest for their investments, they will find that the rate of interest is full and satisfactory, like the rate on bottomry." Zurborg,
[8] See Zurborg, "Comm." p. 24.
[9] See Aristot. "Pol." iv. 15, 3.
With regard to the other sources of revenue which I contemplate, I admit, it is different. For these I recognise the necessity of a capital[10] to begin with. I am not, however, without good hope that the citizens of this state will contribute heartily to such an object, when I reflect on the large sums subscribed by the state on various late occasions, as, for instance, when reinforcements were sent to the Arcadians under the command of Lysistratus,[11] and again at the date of the generalship of Hegesileos.[12] I am well aware that ships of war are frequently despatched and that too[13] although it is uncertain whether the venture will be for the better or for the worse, and the only certainty is that the contributor will not recover the sum subscribed nor have any further share in the object for which he gave his contribution.[14]
[10] "A starting-point."
[11] B.C. 366; cf. "Hell." VII. iv. 3.
[12] B.C. 362; cf. "Hell." VII. v. 15. See Grote, "H. G." x. 459; Ephor. ap. Diog. Laert. ii. 54; Diod. Sic. xv. 84; Boeckh, ap. L. Dindorf. Xenophon's son Gryllus served under him and was slain.
[13] Reading {kai tauta toutout men adelou ontos}, after Zurborg.
[14] Reading {[uper] on an eisenegkosi} with Zurborg. See his note, "Comm." p. 25.
But for a sound investment[15] I know of nothing comparable with the initial outlay to form this fund.[16] Any one whose contribution amounts to ten minae[17] may look forward to a return as high as he would get on bottomry, of nearly one-fifth,[18] as the recipient of three obols a day. The contributor of five minae[19] will on the same principle get more than a third,[20] while the majority of Athenians will get more than cent per cent on their contribution. That is to say, a subscription of one mina[21] will put the subscriber in possession of nearly double that sum,[22] and that, moreover, without setting foot outside Athens, which, as far as human affairs go, is as sound and durable a security as possible.
[15] "A good substantial property."
[16] Or, "on the other hand, I affirm that the outlay necessary to form the capital for my present project will be more remunerative than any other that can be named." As to the scheme itself see Grote, "Plato," III. ch. xxxix.; Boeckh, op. cit. (pp. 4, 37, 136, 600 seq. Eng. tr.) Cf. Demosth. "de Sym." for another scheme, 354 B.C., which shows the "sound administrative and practical judgment" of the youthful orator as compared with "the benevolent dreams and ample public largess in which Xenophon here indulges." --Grote, op. cit. p. 601.
[17] L40:12:4 = 1000 drachmae.
[18] I.e. exactly 18 or nearly 20 per cent. The following table will make the arithmetic clear:--
6 ob. = 1 drachma 10 minae = 6000 ob. 100 dr. = 1 mina = 1000 dr. 600 ob. = 1 mina 1000 dr.:180 dr.::100:18 therefore nearly 1/5 3 ob. (a day) x 360 = 1080 ob. p.a. = nearly 20 per cent. = 180 dr. p.a.
As to the 3 obols a day (= 180 dr. p.a.) which as an Athenian citizen he is entitled to, see Grote, op. cit. p. 597: "There will be a regular distribution among all citizens, per head and equally. Three oboli, or half a drachma, will be allotted daily to each, to poor and rich alike" [on the principle of the Theorikon]. "For the poor citizens this will provide a comfortable subsistence, without any contribution on their part; the poverty now prevailing will thus be alleviated. The rich, like the poor, receive the daily triobolon as a free gift; but if they compute it as interest for their investments, they will find that the rate of interest is full and satisfactory, like the rate on bottomry." Zurborg,