Ways and Means

I am also aware that large expenditure is frequently incurred to send warships abroad, though none can tell whether the venture will be for better or worse, and the only thing certain is that the subscribers will never see their money back nor even enjoy any part of what they contribute.

But no investment can yield them so fine a return as the money advanced by them to form the capital fund. For every subscriber of ten minae, drawing three obols a day, gets nearly twenty per cent.—as much as he would get on bottomry;[*](3 obols a day are to be paid by the state to every citizen, i.e., 180 drachmae a year, or nearly 2 minae, which is nearly 2 per cent. on 10 minae, and exactly 36 per cent. on half that sum.) and every subscriber of five minae gets more than a third of his capital back in interest.

But most of the Athenians will get over a hundred per cent. in a year, for those who advance one mina will draw an income of nearly two minae, guaranteed by the state, which is to all appearances the safest and most durable of human institutions.

I think, too, that if their names were to be recorded in the roll of benefactors for all time, many foreigners also would subscribe, and a certain number of states would be attracted by the prospect of enrolment. I believe that even kings and despots and oriental governors would desire to share in this reward.

When funds were sufficient, it would be a fine plan to build more lodging-houses for shipowners near the harbours, and convenient places of exchange for merchants, also hotels to accomodate visitors.

Again, if houses and shops were put up both in the Peiraeus and in the city for retail traders, they would be an ornament to the state, and at the same time the source of a considerable revenue.

Moreover, I think it would be a good plan to take a hint from the state ownership of public warships, and to see whether it be possible to acquire a fleet of public merchant vessels and to lease them under securities, like our other public property. For if this proved to be practicable, these vessels would yield another large revenue.