As this great diminution on the supply, and drain upon the treasures of the precious metals in the time of the emperors, lowered the value of every species of produce, so it proportionally augmented debts, and swelled the already overgrown fortunes of the capitalists. What Finlay says of Greece was true of the whole European provinces of the empire:--"_The property of the Grecian debtors was at last transferred to a very great extent to the Roman creditors._"[64] The gradual diminution in the supply of, or abstraction of the precious metals, by contracting the currency, lowered prices, and thus diminished the returns of industry; while it proportionally augmented debts, and added to the fortunes of the great capitalists and landholders. This again produced another effect upon the manners of the inhabitants of the great cities, which had an equally powerful effect in increasing the drain upon that portion of the precious metals which was employed in the public currency. The rich patricians of Rome, Antioch, and Constantinople, possessed of colossal fortunes to which nothing in modern times will bear a comparison, and nursed in habits of luxury and expense beyond any thing we can even conceive, daily augmented the amount of their immense incomes, which was devoted to the purposes of extravagance. "The historians of the second and third centuries," says Finlay, "are filled with lamentations on this subject."[65] It is not surprising that it was so. Men possessed, in private stations, of as much as three or four hundred thousand pounds a-year of modern money, could not get through their incomes without indulging in the habitual purchase of the most costly articles. Society in this way had come to verify the saying of Bacon--"Above all things, good policy is to be used that the treasure and money in a state _be not gathered into few hands_. For otherwise, a state may _have a great stock and yet starve_. And money is like muck, not good unless it be spread."
Hence the consumption and permanent fixing of gold and silver in the form of plate and costly ornaments, increased in the great families down to the very close of the empire; and while the currency was constantly declining, and prices in consequence falling in the provinces, the colossal capitalists of Rome and Constantinople were daily absorbing more of the precious metals in these beautiful but unproductive objects. The quantity of gold and silver moulded into the form of vases, statues, tripods, and personal ornaments, which was accumulated in Rome at the time it was taken by the Goths, would exceed belief if not attested by the unanimous testimony of all the contemporary writers. Great part of it was thrown into the Tiber, where it still remains covered by the alluvial deposits of fourteen centuries; the most precious of the spoils were buried with Alaric in the bed of a stream in Calabria, where that redoubtable conqueror was overtaken by the common fate of mortality. The place where he was interred was kept a profound secret, and the slaves who dug his grave in the bed of the river, of which the course had been turned aside for the purpose, were put to death, and buried with him and his treasures; and the river itself was immediately let into its old channel, that its ceaseless flow might secure, as it since has done, the grave of the mighty chief from disturbance, and enable him to present himself loaded with his earthly spoils in the land of spirits.[66]