
I
5
2 5 PTOLEMAIC EGYPT
constructed by a rigorous intellectual exercise in
fiscal
philosophy. They
display a pragmatic adaptation to Egyptian conditions (extensive
thickly-populated territories, shortage of official manpower) of the tax-
farming system evolved in classical Greece to make good the absence of
trained officials of integrity required to collect those taxes on which the
return was unpredictable. New evidence will be required to answer the
question how far the instructions were actually put into operation, or
whether the quantities and kinds specified in the sowing schedules were
in fact collected.
A prime need in the system was cash to lubricate it, and expertise in
accounting. It was advantageous to the state to call on private capitalists
for the former, and to arrange a division of the latter between capitalists
and officials so as to obviate corrupt book-keeping and yet leave
incentives to secure a good return on the investment. The actual
collection was kept in the hands of state officials, the
logeutai;
but the
amounts collected were entered in the ledgers of banks run by private
capitalists licensed by the king. Budgeting was the task of the capitalists,
who were given access (often not without the intervention of a high
official) to state statistics. Having made a budget for their firm, the
capitalists would make
a
bid, and post a bond as guarantee. In theory the
state would have a choice of bids - it is assumed that the highest bid
would secure the contract. After acceptance of
a
bid and the start of the
tax year, royal officials (the
oikonomos
and his checking clerk), the
capitalists bidding for the tax and the bankers had a monthly meeting to
examine and distribute the receipts. If there was an excess over their bid,
the tax firms retained it (their
epigenema),
if there was a deficit they were
required to make it good. At the monthly meeting the primary producer,
the craftsman in the manufactory, the licensed retailer were not
represented. The aim of the system was not to encourage production,
not to control the economy, but to secure the highest possible return for
the king from taxation and from sales in the home market: that is, it was
fiscal, not economic or socialistic. Whether or not it was also mercantilist
requires a leap in the chain of evidence - the undisputed elements are the
facility of mercantile control offered by a country with so few points of
exit, the undoubted presence all over the Mediterranean world, the
Black Sea, and the Near East of Egyptian manufactured articles of high
quality and the great demand for them. But that the king encouraged
manufacture so that he alone might sell is not established.
Both the models described require their own bureaucracies, the first
an agricultural one, the second
a
split hierarchy of accountants. In Model
I the main elements were inherited from Pharaonic Egypt, in Model II
they are mainly Greek innovations, and money guarantees replace social
obligations. A number of Pharaonic elements were incorporated in
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