On Revenues by Xenophon

I come to a new topic. I am persuaded that the establishment of the silver mines on a proper footing (1) would be followed by a large increase in wealth apart from the other sources of revenue. And I would like, for the benefit of those who may be ignorant, to point out what the capacity of these mines really is. You will then be in a position to decide how to turn them to better account. It is clear, I presume, to every one that these mines have for a very long time been in active operation; at any rate no one will venture to fix the date at which they first began to be worked. (2) Now in spite of the fact that the silver ore has been dug and carried out for so long a time, I would ask you to note that the mounds of rubbish so shovelled out are but a fractional portion of the series of hillocks containing veins of silver, and as yet unquarried. Nor is the silver-bearing region gradually becoming circumscribed. On the contrary it is evidently extending in wider area from year to year. That is to say, during the period in which thousands of workers (3) have been employed within the mines no hand was ever stopped for want of work to do. Rather, at any given moment, the work to be done was more than enough for the hands employed. And so it is to-day with the owners of slaves working in the mines; no one dreams of reducing the number of his hands. On the contrary, the object is perpetually to acquire as many additional hands as the owner possibly can. The fact is that with few hands to dig and search, the find of treasure will be small, but with an increase in labour the discovery of the ore itself is more than proportionally increased. So much so, that of all operations with which I am acquainted, this is the only one in which no sort of jealousy is felt at a further development of the industry. (4) I may go a step farther; every proprietor of a farm will be able to tell you exactly how many yoke of oxen are sufficient for the estate, and how many farm hands. To send into the field more than the exact number requisite every farmer would consider a dead loss. (5) But in silver mining (operations) the universal complaint is the want of hands. Indeed there is no analogy between this and other industries.

With an increase in the number of bronze-workers articles of bronze may become so cheap that the bronze-worker has to retire from the field. And so again with ironfounders. Or again, in a plethoric condition of the corn and wine market these fruits of the soil will be so depreciated in value that the particular husbandries cease to be remunerative, and many a farmer will give up his tillage of the soil and betake himself to the business of a merchant, or of a shopkeeper, to banking or money-lending.