Abstract

This paper posits that a change of mentality and of economic preferences among the higher orders of Roman society occurred in Late Republican and Early Imperial Rome, in so far as the practice of receiving and giving loans and credit was concerned. The political changes that swept the Late Republic and that saw the establishment of the Principate by Augustus decisively influenced the financial strategies and deportment of the nobility. The customary and largely horizontal practice of loan-giving among the elite gradually disappeared and was replaced by a more vertically oriented mode of finance. This was a consequence of cultural changes in the perception of debt and indebtedness particularly among the highest ranks (induced partly by new imperial legislation and attitudes), of a rise in economically profitable loan-operations on the part of the nobility, and of the structural changes in Roman society during an era of great upheaval and change.