of vessels were in the habit of borrowing considerable sums, which they professed to invest in a cargo of value, but instead of such a cargo, they took on board sand and stones, and when out at sea, sunk the vessel.  As the money was lent on the security either of the cargo or ship, or both, of course the creditors were defrauded:  but it does not appear how they could, without detection, substitute sand or stones for the cargo.

The Athenians passed a number of laws respecting commerce, mostly of a prohibitory nature.  Money could not be advanced or lent on any vessel, or the cargo of any vessel, that did not return to Athens, and discharge its cargo there.  The exportation of various articles, which were deemed of the first necessity, was expressly forbidden:  such as timber for building, fir, cypress, plane, and other trees, which grew in the neighbourhood of the city; the rosin collected on Mount Parnes, the wax of Mount Hymettus—­which two articles, incorporated together, or perhaps singly, were used for daubing over, or caulking their ships.  The exportation of corn, of which Attica produced very little, was also forbidden; and what was brought from abroad was not permitted to be sold any where except in Athens.  By the laws of Solon, they were allowed to exchange oil for foreign commodities.  There were besides a great number of laws respecting captains of ships, merchants, duties, interest of money, and different kinds of contracts.  One law was specially favourable to merchants and all engaged in trade; by it a heavy fine, or, in some cases, imprisonment, was inflicted on whoever accused a merchant or trader of any crime he could not substantiate.  In order still farther to protect commerce, and to prevent it from suffering by litigation, all causes which respected it could be heard only during the period when vessels were in port.  This period extended generally to six months—­from April to September inclusive—­no ships being at sea during the other portion of the year.

The taxes of the Athenians, so far as they affected commerce, consisted of a fifth, levied on the corn and other merchandize imported, and also on several articles which were exported from Athens.  These duties were generally farmed.  In an oration of Andocides, we learn that he had farmed the duty on foreign goods imported for a term of three years, at twelve talents annually.  In consequence of these duties, smuggling was not uncommon.  The inhabitants of the district called Corydale were celebrated for illicit traffic:  there was a small bay in this district, a little to the north of Piraeus, called.  Thieves’ Harbour, in which an extensive and lucrative and contraband trade was carried on; ships of different nations were engaged in it.  Demosthenes informs us, that though this place was within the boundaries of Attica, yet the Athenians had not the legal power to put a stop to traffic by which they were greatly injured, as the inhabitants of Corydale, as well as the inhabitants of every other state, however small, were sovereigns within their own territory.