The Business Life Of Ancient Athens

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was forced by famine to go under Peloponnesian rule. By now,
trade had come in an uproar. Many people had found it easy to trade by sea. So
many merchants with not enough money would borrow money from rich people and
then buy cargo space on a ship. In most cases the merchant went on the ship to
get the goods to sell. Then on returning, the merchant would sell the goods,
and then pay off the lender, with a 22.5 percent interest rate. In many cases,
problems occurred, sometimes a merchant returned late, could not pay all of the
money back, or something or other. Therefore the idea of a collateral was
invented. Also, courts were established to rule these sorts of fights amongst
the people. These courts weren't used in the winter because of stormy weather
and so not to interrupt commercial business. Courts were required to solve a
case within 30 days, this procedure only applies to cases where and actual legal
documented agreement was made between the lender and the merchant. ...

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would have probably lost an oncoming war with the Persians, but
because of the mining, many new people joined Athens and Persia decided not to
invade. They feared it because it had become much greater in strength. If
mining had not come, there would have been no Athenian Empire, or an Age of
Pericles. So, in the scabrous hills of Laurium, silver struck. Everyone was
fascinated with this new idea. In present day Laurium, you can still see the
remains of the mining and see everything. Many things were not found out about
the mining, because not too many records were kept. But many modern engineers
and archaeologists have looked into the land of Laurium and have found remains
of ...

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