This was the state of affairs throughout the Empire.
I must not omit, I suppose, mention of what the rulers did to the petty coinage. Formerly the money changers had customarily given two hundred and ten obols, or “folles,” for one gold stater; but Justinian and Theodora, as a scheme for their private profit, ordered that only one hundred and eighty obols should be given for a stater.
In this way they clipped off one sixth of each gold coin possessed by the people.
By licensing monopolies of nearly all kinds of wares, these rulers daily oppressed the purchasers; the sale of clothes was the only thing they left untouched, and even in this case they contrived the following scheme. Cloaks of silk had long been made in Berytus and Tyre, in Phoenicia.
Merchants who dwelt in these, and all the artisans and workers connected with the trade, had settled there in early times, and from these cities this trade had spread throughout the earth. But during the reign of Justinian, those in this business at Constantinople and in the other cities, raised the price of these garments: claiming that the price for such stuffs had been raised by the Persians, and that the import duties to Roman territory were also higher.
The Emperor, pretending to be incensed at this, proclaimed by edict that such clothing could not be sold for more than eight gold coins a pound; and the punishment for disobeying this law was the confiscation of the transgressor’s property.
Everybody impossible and futile
This seemed to everybody impossible and futile. For it was not practicable for the merchants who imported silk at a higher price, to sell it to their customers for less. Consequently they decided to stop dealing in it at all, and privately got rid of their present stock as best they could, selling it to such notables as took pleasure in throwing away their money for such finery, or thought they had to wear it.
The Empress, hearing what was going on through her whispering spies, without stopping to verify the rumor, immediately confiscated these persons’ wares, fining them a centenary in addition. Now the imperial treasurer is to be in charge of all matters connected with this trade.
So when Peter Barsyames was given that office, they soon left it to him to do their unholy deeds. He ruled that all should obey the letter of the law, while he ordered the silk makers to work for himself. And this was no secret, for he sold colored silk in the Forum at six gold pieces an ounce, while for the imperial dye, which is known as holovere, he charged more than twenty-four.
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