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)

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.

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, (23) tyrants, (24) and satraps will display a keen desire to share in such a favour.

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 (25) 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.

IV

I come to a new topic. I am persuaded that the establishment of the silver mines on a proper footing (1) would be followed by a large increase in wealth apart from the other sources of revenue. And I would like, for the benefit of those who may be ignorant, to point out what the capacity of these mines really is. You will then be in a position to decide how to turn them to better account. It is clear, I presume, to every one that these mines have for a very long time been in active operation; at any rate no one will venture to fix the date at which they first began to be worked. (2) Now in spite of the fact that the silver ore has been dug and carried out for so long a time, I would ask you to note that the mounds of rubbish so shovelled out are but a fractional portion of the series of hillocks containing veins of silver, and as yet unquarried. Nor is the silver-bearing region gradually becoming circumscribed. On the contrary it is evidently extending in wider area from year to year. That is to say, during the period in which thousands of workers (3) have been employed within the mines no hand was ever stopped for want of work to do. Rather, at any given moment, the work to be done was more than enough for the hands employed. And so it is to-day with the owners of slaves working in the mines; no one dreams of reducing the number of his hands. On the contrary, the object is perpetually to acquire as many additional hands as the owner possibly can. The fact is that with few hands to dig and search, the find of treasure will be small, but with an increase in labour the discovery of the ore itself is more than proportionally increased. So much so, that of all operations with which I am acquainted, this is the only one in which no sort of jealousy is felt at a further development of the industry. (4) I may go a step farther; every proprietor of a farm will be able to tell you exactly how many yoke of oxen are sufficient for the estate, and how many farm hands. To send into the field more than the exact number requisite every farmer would consider a dead loss. (5) But in silver mining (operations) the universal complaint is the want of hands. Indeed there is no analogy between this and other industries. With an increase in the number of bronze-workers articles of bronze may become so cheap that the bronze-worker has to