[23]
My partner here had lent him
two thousand drachmae for the double voyage on terms that he should receive at
Athens two thousand six hundred
drachmae; but Phormio declares that he paid Lampis in Bosporus one hundred and twenty Cyzicene
staters1（note this
carefully） which he borrowed at the interest paid on loans secured by
real property. Now interest on real security was sixteen and two-thirds percent,
and the Cyzicene stater was worth there twenty-eight Attic drachmae.
1 The stater of Cyzicus （a town on the south shore of the Propontis, or sea of Marmora） was a coin made of electrum, an alloy of approximately three-quarters gold and one-quarter silver. It was nearly twice as heavy as the ordinary gold stater, which was worth twenty drachmae, and had a value （as stated in the text） of twenty-eight drachmae. The addition of the word “there” indicates that the value differed in different places according to the rate of exchange.
Demosthenes. Demosthenes with an English translation by A. T. Murray, Ph.D., LL.D. Cambridge, MA, Harvard University Press; London, William Heinemann Ltd. 1939.
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