Where Did Wealthy Ancient Romans Keep Their Liquid Assets During the Late Republican and/or the Empire Era?
During the Late Republican and Empire eras, the Roman upper classes often managed their liquid assets in various ways, reflecting the economic and religious practices of their time. While much of their wealth was invested in land, slaves, and other properties, they also had specific methods for safeguarding their liquid assets, such as working capital and short-term investments.
Methods of Safeguarding Liquid Assets
For most wealthy Romans, it was common to keep working capital in strongboxes at their homes or businesses. These strongboxes, often bolted shut, provided a secure place for small amounts of cash. However, for larger sums, the ancient Romans had a more intriguing option: depositing their money in temples.
Temples played a significant role in Roman society, not only as places of worship but also as communal and economic centers. They often kept accounts and stored valuable items, including documents and metals. By the year 310 CE, Roman banking systems were well-established, though they lagged somewhat behind the Greeks in this area. The practice of depositing money in temples became a common method for the well-to-do, as it was seen as both secure and protected by sacred principles.
Temple Deposits and Sacred Guarantees
The super wealthy Romans would often keep their liquid assets in the treasuries of important temples. The most notable of these was the temple of Juno Moneta, located on the Capitoline hill in Rome. This temple served a dual purpose, acting as both a secure repository for valuable deposits and the Mint for the Roman coinage.
The story of the temple of Juno Moneta is one of historical significance. Around 500 B.C., during the Gaulic siege of Rome, the temple's geese played a crucial role in alerting the Romans to the approaching enemy. These sacred geese, sacred to Juno, began honking loudly, prompting the Romans to sound the alarm and repel the Gauls. In recognition of this, the temple was later rebuilt in marble and named Juno Moneta, a name that eventually led to the English word "money."
Government Support and Religious Influence
Government support for the temples often contributed to their use as repositories. The presence of priestesses who were present at these temples all the time added to the security of the deposits, as they were the only ones allowed to enter the inner sanctum. This religious and ceremonial aspect of temple deposits provided an additional layer of protection, given the severe penalties for sacrilege detailed in Roman law.
Practices of Ancient Greeks
It's also worth noting that the ancient Greeks had different attitudes toward their possessions. Unlike some Romans who saw certain items as part of family wealth to be passed down, the Greeks believed in the practical use of silver and other metals. They would not polish silver vessels, as they understood that repeated polishing could wear away the metal over time. This contrasts with the Roman approach to temple deposits, which placed a strong emphasis on the social and religious significance of these practices.
By exploring these various methods of safeguarding liquid assets, we can gain a deeper understanding of how the ancient Romans managed their wealth, both for everyday needs and in times of crisis. The interplay between economics, religion, and social structure in ancient Rome is a fascinating aspect of their cultural and historical legacy.