NOTES
[I]
have been informed by a very eminent lawyer, and a man
of great knowledge and observation, that it appears, from ancient
papers and records, that about four centuries ago, money in
Scotland and probably in other parts of Europe, was
only at five per cent., and afterwards rose to ten, before the
discovery of the West Indies. The fact is curious; but might
easily be reconciled to the foregoing reasoning. Men in that age lived
so much at home, and in so very simple and frugal a manner, that they
had no occasion for money; and though the lenders were then few, the
borrowers were fewer. The high rate of interest among the early
Romans is accounted for by historians from the frequent losses
sustained by the inroads of the enemy.--EDITIONS F, G, H.
[Columella,]
lib. iii. 3.
[Plinii]
Epist. lib. vii. ep. 18.
