Reading {kai tauta toutout men adelou ontos}, after Zurborg.
Reading { on an eisenegkosi} with Zurborg. See his note, "Comm." p. 25.
But for a sound investment I know of nothing comparable with the initial outlay to form this fund. Any one whose contribution amounts to ten minae may look forward to a return as high as he would get on bottomry, of nearly one-fifth, as the recipient of three obols a day. The contributor of five minae will on the same principle get more than a third, while the majority of Athenians will get more than cent per cent on their contribution. That is to say, a subscription of one mina will put the subscriber in possession of nearly double that sum, and that, moreover, without setting foot outside Athens, which, as far as human affairs go, is as sound and durable a security as possible.
"A good substantial property."
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.
L40:12:4 = 1000 drachmae.
I.e. exactly 18 or nearly 20 per cent. The following table will make the arithmetic clear:--6 ob. = 1 drachma10 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) x360=1080ob.p.a.=nearly20percent.
= 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 andrich alike" . "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, "Comm." p. 25; Boeckh, op. cit. IV. xxi. (p. 606, Eng. tr.);and Grote's note, op. cit. p. 598. = L20:6:3 = 500 drachmae.
= I.e. 36 per cent.
= L4:1:3 = 100 drachmae.
I.e. 180 per cent.
Moreover, I am of opinion that if the names of contributors were to be inscribed as benefactors for all time, many foreigners would be induced to contribute, and possibly not a few states, in their desire to obtain the right of inscription; indeed I anticipate that some kings, tyrants, and satraps will display a keen desire to share in such a favour.
Zurborg suggests (p. 5) "Philip or Cersobleptes." Cf. Isocr. "On the Peace," S. 23.
I.e. despotic monarchs.
To come to the point. Were such a capital once furnished, it would be a magnificent plan to build lodging-houses for the benefit of shipmasters in the neighbourhood of the harbours, in addition to those which exist; and again, on the same principle, suitable places of meeting for merchants, for the purposes of buying and selling; and thirdly, public lodging-houses for persons visiting the city. Again, supposing dwelling-houses and stores for vending goods were fitted up for retail dealers in Piraeus and the city, they would at once be an ornament to the state and a fertile source of revenue. Also it seems to me it would be a good thing to try and see if, on the principle on which at present the state possesses public warships, it would not be possible to secure public merchant vessels, to be let out on the security of guarantors just like any other public property. If the plan were found feasible this public merchant navy would be a large source of extra revenue.
Reading, with Zurborg, {epi one te}.
