It was an age of millionaires. There had been rich men,
such as Crassus, during the last century of the republic; their numbers
increased and their fortunes rose during the first century of the empire. The
philosopher Seneca, a tutor of Nero, is said to have made twelve million
dollars within four years by the emperor's favor. Narcissus, the secretary of
Claudius, made sixteen million dollars—the largest Roman fortune on record.
This sum must be multiplied four or five times to find its modern equivalent,
since in antiquity interest rates were higher and the purchasing power of money
was greater than to-day. Such private fortunes are surpassed only by those of
the present age.
LUXURY AND EXTRAVAGANCE
The heaping-up of riches in the hands of a few brought its
natural consequence in luxury and extravagance. The palaces of the wealthy,
with their gardens, baths, picture galleries, and other features, were costly
to build and costly to keep up. The money not lavished by a noble on his town
house could be easily sunk on his villas in the country. All Italy, from the
bay of Naples, to the foot of the Alps, was dotted with elegant residences, having
flower gardens, game preserves, fishponds, and artificial lakes. Much senseless
waste occurred at banquets and entertainments. Vast sums were spent on vessels
of gold and silver, jewelry, clothing, and house furnishings. Even funerals and
tombs required heavy outlays. A capitalist of imperial Rome could get rid of a
fortune in selfish indulgences almost as readily as any modern millionaire not
blessed with a refined taste or with public spirit.
