Deinde cum dicit duplici autem existente etc., positis duabus pecuniativis, ostendit quae earum sit laudabilis et quae vituperabilis. Et dicit quod duae sunt pecuniativae, quarum una vocatur campsoria, quae scilicet acquirit pecuniam ex pecuniis et propter ipsas pecunias; alia autem pecuniativa est yconomica, quae scilicet acquirit pecunias ex rebus naturalibus, puta ex fructibus et animalibus, ut dictum est. Ista quidem secunda est necessaria ad vitam hominum, unde et laudatur; alia vero, scilicet campsoria, transfertur ab eo quod est necessarium naturae ad id quod requirit concupiscentia, ut supra dictum est: et ideo iuste vituperatur. Non enim ista pecuniativa est secundum naturam, quia neque ex rebus naturalibus est, neque ad supplendam necessitatem naturae ordinatur, sed ex (translatione) denariorum ad invicem, inquantum scilicet homo denarios per denarios lucratur. Et cum ista pecuniativa quae est campsoria iuste vituperetur, quaedam alia acquisitiva pecuniae est quae rationabilissime vituperatur et odio habetur, quae dicitur obolostatica, id est statuitiva denariorum, sicut illi qui lucrantur in excessu denariis instituendis. Ista enim acquisitio fit ab ipsis denariis, et non secundum primum modum qui institutus est ad acquirendos denarios; facti sunt enim denarii gratia translationis, id est commutationis, ut supra dictum est. Est autem et quaedam alia acquisitiva pecuniae quae Graece vocatur tokos, id est usura, per quam denarius se ipsum adauget, et ideo sic vocatur apud Graecos. Tokos enim idem est quod partus; videmus autem quod ea quae pariuntur secundum naturam sunt similia generantibus: unde fit quidam partus cum denarius ex denario crescit. Et ideo etiam ista acquisitio pecuniarum est maxime praeter naturam; quia secundum naturam est ut denarii acquirantur ex rebus naturalibus, non autem ex denariis. Sic ergo una pecuniativa est laudabilis, et tres vituperabiles ut dictum est. Then, when he says duplici autem existente, etc., when he had laid out the two kinds of moneymaking, he shows which of them is praiseworthy, and which is blameworthy. And he says that there are two [kinds] of moneymaking, the first of which is called profit-turning, which acquires money from money and because of money, but the other kind of moneymaking is economic, which acquires money from natural things—such as from produce and animals, as was said. And this second one is necessary for the life of men, and so it is praiseworthy: but the other—profit-turning—is transferred from what is necessary for nature to what is required by concupiscence, as was said above, and therefore it is justly blameworthy: for this moneymaking is not following nature, because it is neither from natural things, nor is it ordered toward fulfilling the necessity of nature, but it is from the transferal of currency for currency, inasmuch as men gain currency through currency. And since this moneymaking, which is profit-turning, is justly blamed, there is a certain other [art] acquisitive of money that is most rationally blamed, and held in hatred, which is called obolostatics—that is, money-lending [statuitiva denariorum], as with those who gain through deviantly [excessu] loaning money [excessu denariis instituendis]. For such acquisition comes to be from the currency itself, and not after the first manner that was fashioned for acquiring currency; for currency was made for the sake of transferal—that is, trading—as was said above. But there is a certain other [art] acquisitive of money that in Greek is called tokos, that is, usury, through which currency increases itself, and so it is called this among the Greeks. For tokos is the same as “born” and we see that the things generated following nature are the same as the generators; and so it comes to be that there is a certain birth where currency grows from currency. And so also such an acquisition of money is most of all beyond nature, because following nature, currency is acquired from natural things, and not from currency. So therefore, one moneymaking is praiseworthy, and three are blameworthy, as was said. Lectio 9 Lecture 9 Quoniam autem quae ad scientiam determinavimus sufficienter, quae ad usum oportet pertransire: omnia enim talia contemplationem liberam habent, experientiam autem necessariam. 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. Sunt autem pecuniativae partes utiles circa possessibilia expertum esse, qualia pretiosissima, et ubi, et quomodo, puta equorum possessio qualis quaedam, aut boum, aut ovium, similiter autem et ceterorum animalium; oportet enim expertum esse ad invicem horum quae pretiosissima, et qualia in quibus locis; alia enim in aliis habundant regionibus. Deinde de terrae cultura et huius iam nude et plantate, et de apum cultura, et aliorum animalium natatilium et volatilium, a quibuscumque contingit sortiri auxilium: propriissime quidem igitur pecuniativae hae partes et primae. 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. Translativae autem maximum quidem mercativa, et huius partes tres: naucleria, fortigia, parastasis. Differunt autem horum altera ab alteris, eo quod haec quidem certiora sunt, haec autem ampliorem acquirunt excrescentiam. Secundum autem tokismos, tertium autem mystarina; huius autem haec quidem banausarum artium, haec autem inartificialium et corpori soli utilium. Quarta autem species pecuniativae, intermedia huius et primae; habet enim et eius quae secundum naturam aliquam partem, et translativae, quaecumque a terra et ex terra genitis infructuosis quidem, utilibus autem; puta silvae incisiva, et omnis metallica; haec autem multa iam complectitur genera. Multae enim species ex terra metallorum sunt. 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. De unaquaque autem horum universaliter quidem dictum est, et nunc; particulariter autem diligentius dicere, utile quidem ad operationes, grave autem immorari. 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. Sunt autem maxime artificiales quidem operationum, ubi minimum fortune; maxime autem banausike in quibus corpora maculantur maxime. Maxime autem serviles, ubi corporis plurimi usus. Ignobilissime autem ubi minimum requiritur virtutis. 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. Quoniam autem a quibusdam scripta sunt de hiis, puta a Kharitide pario et Apollodoro limnio de terrae cultura et nude et plantate. Similiter autem et ab aliis de aliis, haec quidem ex hiis considerentur cuicumque est cura. 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. Adhuc autem et dicta sparsim per quae adepti sunt quidam pecuniis intendentes oportet colligere; omnia enim haec proficua sunt honorantibus pecuniativam. Puta et quod Thaleo milesii: haec enim est consideratio quaedam pecuniativa. Sed illi quidem propter sapientiam adaptant. Contingit autem universale aliquid existens. Exprobrantibus enim ipsi propter paupertatem tanquam inutili philosophia existente, considerasse dicunt ipsum olivarum ubertatem futuram ex astrologia, et adhuc hyeme existente habundantem pecuniis paucis arrabones dedisse olivarum cultoribus hiis qui in Mileto et Khio omnibus modico pro pretio dato tanquam nullo adiciente. Quando autem tempus venit multis quaerentibus simul et subito, pretium taxans quomodo voluit, cum multas pecunias collegisset, demonstravit quia facile est ditari philosophis si volunt. Sed non est hoc circa quod student. Thales quidem igitur dicitur hoc modo ostensionem fecisse sapientiae. 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. Est autem quaemadmodum diximus universaliter quod tale pecuniativum si quis potuerit monopoliam sibi praeparare, propter quod et civitatum quaedam hoc modo faciunt divitias cum egeant pecuniis; monopoliam enim venialium faciunt. 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. In Sicilia autem quidam reposito apud se nummismate simul emit omne ferrum de ferri mineris; post haec autem ut advenerunt de nundinis mercatores vendebat solus, non multum faciens excessum pretii. Sed tamen in quinquaginta talentis superassumpsit centum. Hunc igitur Dyonisius sentiens pecunias quidem iussit asportare, non tamen amplius manere in Syracusis, tanquam divitias invenientem sui ipsius rebus inconvenientes. 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. Quod vero visum fuit Thali et huic idem est: utrique enim sibi ipsis studuerunt fieri monopoliam. Utile autem notificare haec politicis; multis enim civitatibus opus est pecuniae acquisitione et talibus divitiis, quaemadmodum domibus, magis autem; propter quod et quidam civiliter conversantium, civiliter conversantur per hoc solum. 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. Postquam philosophus docuit cognoscere pecuniativae originem et eius proprietates et partes, hic consequenter determinat ea quae pertinent ad usum ipsius. 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. Et primo dicit de quo est intentio; And he first says what his intention is. secundo exequitur propositum, ibi sunt autem pecuniativae etc. Second, he carries out what was proposed here: sunt autem pecuniativae, etc. Dicit ergo primo quod, quia sufficienter determinavimus de pecuniativa in ea quae pertinet ad cognoscendum naturam ipsius, oportet breviter et pertranseunter ponere ea quae pertinent ad usum eius, qualiter scilicet sit ea utendum. Omnia enim huiusmodi quae pertinent ad operationes humanas habent liberam, id est expeditam, contemplationem, quia facile est ea considerare in universali; sed tamen necesse est quod habeatur experientia circa ipsa ad hoc quod homo possit perfectum usum eorum habere. 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. Deinde cum dicit sunt autem pecuniativae etc., determinat ea quae pertinent ad usum pecuniativae. Et circa hoc duo facit: Then, when he says sunt autem pecuniativae, etc., he determines what belongs to the use of moneymaking. And about this he does two things. primo distinguit partes ipsius; First, he distinguishes its parts. secundo ponit quaedam documenta utilia pecuniativae, ibi quoniam autem a quibusdam etc. Second, he lays out certain useful lessons for moneymaking, at: quoniam autem a quibusdam, etc. Circa primum duo facit: About the first he does two things. primo assignat partes pecuniativae, quae est necessaria ad vitam humanam; First, he indicates the parts of the moneymaking that is necessary for human life. secundo partes pecuniativae non necessariae, ibi translativae autem etc. Second, the parts of the moneymaking that is not necessary are here: translativae autem, etc. Dixit autem supra necessariam esse pecuniativam per quam homo acquirit pecuniam ex rebus quas natura ministrat ad necessitatem vitae; huius autem ponit duas partes, 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. quarum prima est secundum quam homo ex emptione et venditione talium rerum potest pecuniam acquirere. Et circa hanc partem dicit quod pecuniativae sunt istae partes utiles, id est utilia quaedam documenta, ut homo sit expertus circa bona huiusmodi quae ab hominibus possidentur, quae eorum sint maximi pretii, et ubi maximo pretio vendantur, et quo modo, puta quo tempore, vel secundum alias conditiones. Et exponit de quibus possessibilibus bonis dicat: est enim quaedam possessio equorum, et boum, et ovium et aliorum animalium; oportet autem eum qui ex hiis vult lucrari pecuniam, esse expertum quae eorum sint maxime cara et in quibus locis, quia alia istorum in aliis regionibus habundant, ut scilicet emat in loco ubi habundant et vendat in loco ubi sunt cara. 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. Secunda autem pars huius possessivae est ut homo acquirat copiam harum rerum venalium. Quod quidem est per culturam terrae sive nudae, hoc est absque arboribus, sicut sunt campi in quibus seminatur triticum; sive plantatae, sicut sunt vineae et orti et oliveta: per huiusmodi enim culturam acquirit homo habundantiam tritici et vini et aliorum huiusmodi. Et oportet etiam esse hominem expertum de cultura apum et aliorum animalium tam natatilium, scilicet piscium, quam etiam volatilium, scilicet avium, a quibuscumque contingit acquirere auxilium ad vitam humanam; quia per horum habundantiam potest fieri acquisitio pecuniarum. Sic igitur patet quod istae sunt primae et propriissimae partes pecuniativae; et dicuntur primae et propriissimae quia sic acquiritur pecunia ex rebus naturalibus, propter quas inventa est primo pecunia. 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. Deinde cum dicit translativae autem etc., distinguit partes pecuniativae translativae. Then, when he says translativae autem, etc., he distinguishes the parts of transferred moneymaking. Dixit autem supra pecuniativam translativam esse per quam acquiritur pecunia non ex rebus necessariis ad vitam, sed ex quibusdam aliis rebus; 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. et dicitur translativa quia pecuniativa translata est de rebus naturalibus ad huiusmodi. And it is called “transferred” because money is transferred from natural things to things of this sort. Circa primum tria facit: About the first he does three things. primo distinguit partes huius pecuniativae; First, he distinguishes the parts of this moneymaking. secundo excusat se a diligentiori consideratione harum partium, ibi de unaquaque autem etc.; Second, he excuses himself from a more diligent study of these parts here: de unaquaque autem, etc. tertio manifestat quaedam quae dixerat, ibi sunt autem maxime etc. Third, he clarifies certain things that he had said here: sunt autem maxime, etc. Circa primum ponit quatuor partes huius pecuniativae, About the first he lays out four parts of this moneymaking, quarum prima et maxima est mercativa: mercatores enim maxime pecunias acquirunt. the first and greatest of which is mercantilism [mercativa]. For merchants most of all acquire money. Et hanc primam partem secundo distinguit in tres partes, And he distinguishes this first part from the second in three parts: