Babylonian and Assyrian Laws, Contracts and Letters Part 25

(M615) The rate of interest charged as a penalty for non-payment or late payment was _twenty-five per cent. per mensem, three hundred per cent. per annum_. This interest was intended to secure prompt payment, but was not unfair in view of the increase of value obtained by investing it in corn and then sowing that. Other rates were one-third and one-eighth, but there is no fixed rate of interest for the loan of money, except when it was _ana pu?i._

(M616) The interest on corn was _thirty ?A per homer_. Some think the homer had sixty _?A_, which would make the interest fifty per cent. But no case has yet been found which gives the number of _?A_ in a homer.

(M617) The money lent is often said to belong to a G.o.d. Ashur, Ishtar of Arbela, or Ishtar of Nineveh, are the most common. Sometimes it is said to be in "Ishtar heads," which has been taken to mean ingots stamped with a head of Ishtar. The frequent reference to the mina of Carchemish alongside the king's mina is eloquent as to the commercial eminence of the old Hitt.i.te capital.

An example is the following:(664)

Sixteen shekels of silver, from A to B, _ana pu?i_, he has taken.

On the first day of Tammuz he shall pay the money. If not, it shall increase by a quarter. Dated the eleventh of Nisan, in the Eponymy of Bel-ludari. Three witnesses.

(M618) Loans or advances were also made of various kinds of property. Thus we have an advance of ten minas of silver, Carchemish standard, seventy-five sheep, one cow, made by Ashurbanipal's chief steward to four men, _ana pu?i_. The sheep and cow they are to return in Adar. If they do not return the sheep, they must breed them. The interest on the money is to be one-third. Dated the twenty-fifth of Tebet, B.C. 664. Thirteen witnesses. Such a loan seems to be on the metayer system.(665)

(M619) Here again we have an exceptional case:(666)

L lends two dromedaries, "which they called double-humped," to three men, who shall return them on the first of the month, or pay six minas of silver. If they do not pay the money, interest shall accrue at the rate of five shekels per mina. Dated the fourteenth of Tishri, B.C. 674.

These animals were rare and evidently highly valued. What could the three borrowers want with a pair of such animals? Were they for exhibition in a menagerie? Perhaps they were for breeding. We may have here a case of goods taken on approval, for a fortnight or so, perhaps for sale to another party.

The same lender lent to the same three men, two hundred sheep, one hundred and fifty goats, two hundred and thirty yearling lambs, in all five hundred and eighty small cattle. They were to return the animals by a fixed date, or pay. Dated the seventh of Iyyar, B.C. 673. The same lender had lent seventy-two sheep to two other men, in Sivan, B.C. 680. They had to return the sheep in Ab, or pay for them at the market-rate in Nineveh.

Bel-eresh acted as agent for the borrowers.(667)

(M620) Other goods, such as wine, or oil, were advanced. Here we probably have to do with the transactions of the royal chief steward and the king's agents. For example:(668)

L intrusts five homers of wine, according to the royal measure, to D. On the first of Nisan he shall return the wine, otherwise he shall pay for the wine according to the market-rate in Nineveh.

Dated fifth of Adar, B.C. 674. Five witnesses.

Again:(669)

(M621)

L advances six homers of pure oil, price ten _?A_ of bronze per homer, to D, the major-domo at Carchemish. He shall repay the oil in Sebat; if not, it shall be doubled. Dated twenty-first of Ab, B.C. 681. Six witnesses.

We may deduce the interesting fact that Esarhaddon was at Carchemish in Ab, B.C. 681. The advance was made for the use of the royal household there.

(M622) Advances of corn were made exactly as in the earlier times.

Thus:(670)

L advances thirty homers of corn to D, the messenger from the city of Magani?i, by the hands of E, a colonel in the army. He shall pay the corn in Marchesvan, in the city of Magani?i, or pay the full value of it in Nineveh. Dated the seventeenth of Sebat, B.C.

665. Eight witnesses.

(M623) One peculiarity of the corn loans is that they are chiefly recorded upon what have been called heart-shaped tablets. These were lumps of clay through which a string pa.s.sed and came out at the upper shoulders. The string was probably tied around the neck of a sack containing the corn.

They thus served both as labels, seals, and as bonds. Many of them have Aramaic dockets, which have been collected and edited by Dr. J. H.

Stevenson, in his _a.s.syrian and Babylonian Contracts, with Aramaic reference-notes_.

(M624) Thus the above example bears the words in Aramaic, "_barley, a.s.signment, which is from Nabu-duri._" These Aramaic legends, in the case of such labels, may have served as addresses. But the general purpose is obscure. All the corn advances seem to have been made by officials of the royal household to inferior officers, in charge of farms or otherwise dependent for supplies.

(M625) (M626) They show by their dates that the corn was usually advanced just before harvest, when corn was dearest. Some of them name the reapers; others give the number of them. We conclude that these advances were made as food for the harvesters, or as wages for their labor. Occasionally, however, the loan was made at seed-time. Most of the loans are _ana pu?i_,(671) which supports the view that the meaning of this phrase is really "for management expenses" and presupposes the metayer system.

(M627) Closely connected with money or other loans are receipts for payment. These are somewhat rare. The more usual practice was to break the tablet, or promise to pay, which was returned to the debtor. But we have two good examples, thus:(672)

The four minas of silver, interest, belonging to C, which were due from D, D has paid and given to C. One with the other, neither shall litigate. Dated seventh of Sivan, B.C. 683. Three witnesses.

Here we are not aware of the circ.u.mstances which lead to the loan. But, in one case, we have records both of the loan and its repayment, thus:(673)

(M628)

Ba?ianu advanced two homers of corn, for food, to Nabu-nur-nammir; and one homer each to Latubashani-ilu and ?abutanu, _ana pu?i_.

Dated the twenty-ninth of Elul, B.C. 686.

And we find also:(674)

?abutanu and Latubashani-ilu repay each one homer. Nabu-nur-nammir does not repay. Dated Iyyar, B.C. 685.

Whether or not the defaulter paid later is not known; but we probably owe our knowledge of the repayment to the fact that all three did not pay together. We note that each paid exactly what he borrowed. No interest was charged.

(M629) In one case we have a receipt for a fine, or damages, imposed by a law-court. Thus:(675)

Forty minas of bronze, without rebate, which the _sukallu_ imposed as a fine. Paid to the _akintu_. Dated the tenth of Adar, B.C.

693. Four witnesses.

There is no statement who owed, or paid, the fine. But the lady governor who received the money gave this receipt for it.

(M630) The Code makes very clear the legal aspect of this transaction. A minor or a slave could only deposit under power of attorney.(676) A deposit was not recoverable unless made by a deed, or delivered in presence of witnesses and duly acknowledged by a receipt.(677) The receiver was liable for all loss occurring to the goods in his possession on deposit, even when the loss was such as involved the loss of his own goods as well.(678) For corn, the Code fixed a yearly fee for warehousing of one-sixtieth the amount deposited.(679)

(M631) As we learn from the few actual cases which occur, the receipt given for the goods was returned to the recipient on the return of the goods and the tablet broken as cancelling the responsibility. One form which it might take is ill.u.s.trated by the following:(680)

Ten shekels of silver, which according to a sealed receipt was deposited for the share of ?ili-Shamash, he has taken from ?ili-Ishtar and Amel-ili, his brothers. His heart is contented; he will not dispute. Oath by ?ammurabi, the king. Seven witnesses.

Fourth year of ?ammurabi.

Here apparently three brothers share, but one being absent the two hold their brother's share for him, giving a sealed receipt for it. This the judge delivered to him and he claimed and received his share.