In order at least to understand this agitation we
must recollect how the democratic party stood towards
the question of interest. The legal prohibition
against taking interest, which the old plebeian opposition
had extorted in 412,(65) had no doubt been practically
disregarded by the nobility which controlled the civil
procedure by means of the praetorship, but had still
remained since that period formally valid; and the
democrats of the seventh century, who regarded themselves
throughout as the continuers of that old agitation
as to privilege and social position,(66) had maintained
the illegality of payment of interest at any time,
and even already practically enforced that principle,
at least temporarily, in the confusion of the Marian
period.(67) It is not credible that Caesar shared
the crude views of his party on the interest question;
the fact, that, in his account of the matter of liquidation
he mentions the enactment as to the surrender of the
property of the debtor in lieu of payment but is silent
as to the cancelling of the interest, is perhaps a
tacit self-reproach. But he was, like every party-leader,
dependent on his party and could not directly repudiate
the traditional maxims of the democracy in the question
of interest; the more especially when he had to decide
this question, not as the all-powerful conqueror of
Pharsalus, but even before his departure for Epirus.
But, while he permitted perhaps rather than originated
this violation of legal order and of property, it is
certainly his merit that that monstrous demand for
the annulling of all claims arising from loans was
rejected; and it may perhaps be looked on as a saving
of his honour, that the debtors were far more indignant
at the—according to their view extremely
unsatisfactory—concession given to them
than the injured creditors, and made under Caelius
and Dolabella those foolish and (as already mentioned)
speedily frustrated attempts to extort by riot and
civil war what Caesar refused to them.
New Ordinance as to Bankruptcy
But Caesar did not confine himself to helping the
debtor for the moment; he did what as legislator he
could, permanently to keep down the fearful omnipotence
of capital. First of all the great legal maxim
was proclaimed, that freedom is not a possession commensurable
with property, but an eternal right of man, of which
the state is entitled judicially to deprive the criminal
alone, not the debtor. It was Caesar, who, perhaps
stimulated in this case also by the more humane Egyptian
and Greek legislation, especially that of Solon,(68)
introduced this principle—diametrically
opposed to the maxims of the earlier ordinances as
to bankruptcy— into the common law, where
it has since retained its place undisputed. According
to Roman law the debtor unable to pay became the serf
of his creditor.(69) The Poetelian law no doubt had
allowed a debtor, who had become unable to pay only
through temporary embarrassments, not through genuine