AMERICAN MONETARY INSTITUTE
PO. Box 601, Valatie, NY, 12184
ami@taconic.net
A foundation dedicated to the study of monetary history, monetary theory and monetary reform.
Stephen Zarlenga director.
This paper has been incorporated into Chapter 3 of The Lost Science of Money,
and is no longer sold seperately. The book can be found in bookstores or can be ordered at a discount direct from the AMI. (Click here to view the Lost Science of Money book details and order form)
MONEY AND THE DECLINE OF ROME
A paper on the monetary causes of Rome's decline, from the 3rd century BC shift from bronze to silver, ending Rome's monetary independence from the east. The process was capped by Julius Caesar's placing Rome onto a gold standard, and raising the relative value of gold; thereby empowering the eastern Temples and merchants. A description of how Rome's trade with the east (India) largely for "feminine articles" drained her of her commodity based money , requiring regular military attacks eastward to recover the metals for coining. Adopting the east's money system focused Rome in that direction, eventually moving headquarters to the border of Asia at Constantinople. A theory of Rome's decline is advanced based on a multi-century deflationary and concentration process; utilizing an unchanging Bezant coin, under conditions of a reduced supply of gold and silver. The far reaching effects of the Moslem revolt and monetary attack on a weakened empire is described. Includes several ancient examples which help highlight current monetary problems and principles, but not in the expected way! (16 pages, footnoted, $15 postpaid; students $7)