CHAP. y.

THE PRECIOUS METALS.

143

probably be preserved in the stores of the chiefof the tribe or family as stock in reserve, to beretained as a sacred deposit, and to be appliedonly on an emergency of a pressing nature, suchas the obtaining arms on occasion of an attackfrom an enemy, or to present as an offering totheir deities to avert or to remove some generalcalamity. Whilst thus chiefly wanted for waror for superstition, it would be found necessaryby all means to add to the stores. By one ofthe oldest laws of Athens, it was ordained thata thousand talents should be set apart yearly fordefence against foreign invasion, and whoeverproposed to apply it to any other purpose ren-dered himself liable to the punishment of death.

The hoarding of treasure for purposes ofgeneral defence, which began in the patriarchalstate of mankind, was continued when largercommunities were formed, and was perhapsuniversally practised by all who governed statesor kingdoms, whether under the monarchicalform, or under any of the several varieties ofaristocracy which prevailed in the ancientworld.

As it is probable that the far largest portionof the gold and silver of the ancient world wasthus kept from circulating through many hands,there would be none of that consumption ofthem by friction by which coined money is now