The highest class in the social scale at Rome was divided, roughly rather than exactly, into two sections, according as they did or did not aim at being elected to magistracies and so entering the senate.  To the senatorius ordo, which will be dealt with in the next chapter, belonged all senators, and all sons of senators whether or no they had as yet been elected to the quaestorship, which after Sulla was the magistracy qualifying for the senate.  But outside the senatorial ranks there were numbers of wealthy and well educated men, most of whom were engaged in one way or another in business; by which term is here meant, not so much trading and mercantile operations, as banking, money-lending, the undertaking of State contracts, and the raising of taxes.  The general name for this class was, strange to say, equites, or knights, as they are often but unfortunately called in modern histories of Rome.  They were in fact at this time the most unmilitary part of the population, and they inherited the title only because the property qualification for the equites equo privato, i.e. the cavalry who served with their horses, had been taken as the qualification also for equestrian judices, to whom Gaius Gracchus had given the decision of cases in the quaestio de repetundis.[97] This law of Gracchus had had the result of constituting an ordo equester alongside of the ordo senatorius, with a property qualification of 400,000 sesterces, or about L3200, not of income but of capital.  Any one who had this sum could call himself an eques, provided he were not a senator, even if he had never served in the cavalry or mounted a horse.

We are concerned here with the business which these men carried on, not with their history as a body in the State; this latter difficult subject has been handled by Dr. Greenidge in his Roman Public Life, and by many other writers.  We have to take them here as the representatives of capital and the chief uses to which it was put in the age of Cicero; for, as a matter of fact, they were then doing by far the greatest part of the money-making of the Empire.  They were not indeed always doing it for themselves; they often represented men of senatorial rank, and acted as their agents in the investment of money and in securing the returns due.  For the senator was not allowed, by the strict letter of the law, to engage in business which would take him out of Italy;[98] his services were needed at home, and if indeed he had performed his proper work with industry and energy he never could have found time to travel on his own business.  At the time of which we are speaking there were ways in which he could escape from his duties,—­ways only too often used; but many senators did undoubtedly employ members of the equestrian order to transact their business abroad, so that it is not untrue to say that the equites had in their hands almost the whole of the monetary business of the Empire.