For Phormio

He owed that amount, not because of poverty, but because of his thrift.[*](The word naturally denotes industry, but the clause might possibly be rendered because he did not wish capital to lie idle; so Dareste. In Dem. 45.33, Apollodorus implies that the debt was due to mismanagement on the part of Phormio.) For the real property of Pasio was about twenty talents, but in addition to this he had more than fifty talents in money of his own lent[*](As eleven talents of this money belonged to the bank, this phrase is open to question.) out at interest. Among these were eleven talents of the bank’s deposits, profitably invested.

When, therefore, my client leased the business of the bank and took over the deposits, realizing that, if he had not yet obtained the right of citizenship with you, he would be unable to recover the monies which Pasio had lent on the security of land and lodging-houses, he chose to have Pasio himself as debtor for these sums, rather than the others to whom he had lent them. It was for this reason that Pasio was set down as owing eleven talents, as has been stated to you in the depositions.