Beginnings of the American People | Page 7

beaten gold; the roof of the palace was of pure gold." As for the Grand Khan, he had, according to Marco Polo, "such a quantity of plate, and of gold and silver in other shapes, as no one ever before saw or heard tell of, or could believe." And so freely did the returned traveler discourse of Kublai Khan's millions of saggi of revenue, that he was ever after known in Italy as Ser Marco Milioni.
In contrast with this country, how small and inferior is Europe! Such is the most general impression conveyed by the accounts of the travelers. Do you think you have some powerful kings here?--they have always the air of asking--some great rivers, populous and thriving cities? But I tell you Europe is nothing. "The city of Quinsay," says Oderic, "hath twelve principall gates; and about the distance of eight miles, on the highway unto each one of the said gates, standeth a city as big by estimation as Venice and Padua." And this trade of the Levant, profitable as you think it, is but a small affair. On a single river in China, the greatest in the world, "there is more wealth and merchandise than on all the rivers and all the seas of Christendom put together." Of that great wealth, very little, indeed, ever comes to the Levant: "for one ship load of pepper that goes to Alexandria or elsewhere, destined for Christendom, there come a hundred, aye and more too, to this haven of Zaiton"; while the diamonds "that are brought to our part of the world are only the refuse of the finer and larger stones; for the flower of the diamonds, as well as of the larger pearls, are all carried to the Grand Khan or other princes of these regions: in truth, they possess all the great treasures of the world."
What a reversal of values for that introspective mind of Christendom, so long occupied with its own soul! And what an opportunity,--all the great treasures of the world possessed by people who welcome merchants but "hate to see soldiers"; being themselves "no soldiers at all, only accomplished traders and most skillful artisans." Here was the promised land for Europeans, wretchedly poor, but good soldiers enough. Here was Eldorado, symbol of all external and objective values which so fired the imagination in that age of discovery; presenting a concrete and visualized goal, a summum bonum, attainable, not by contemplation, but by active endeavor; fascinating alike to the merchant dreaming of profits, to the statesman intent on conquest, to the priest in search of martyrdom, to the adventurer in, search of gold.
III
And who was not in search of gold? "Gold is excellent; gold is treasure, and he who possesses it does all that he wishes to in this world, and succeeds in helping souls into paradise." So thought Columbus, expressing in a phrase the motto of many men, and conveniently revealing to us an essential secret of European history. For gold, so abundant in the East, was scarce in the West. The mines of Europe have never been adequate to the needs of an expanding industrial civilization. Importation of expensive Eastern luxuries, normally overbalancing exports, produces a drain of specie to the Orient, that reservoir to which the precious metals seem naturally to flow, and from which they do not readily return; so that to maintain the gold supply and prevent a fatal appreciation of money value has been a serious problem in both ancient and modern times. During the Roman Republic the supply of gold was maintained at Rome by the systematic exploitation of Syria and Asia Minor. But after Augustus reformed the government of the provinces, the accumulated treasure of the West began to return to the Orient: the annual exportation of 200,000,000 sesterces in payment for the silks and spices of India and Arabia, of Syria and Egypt, was one of the causes of economic exhaustion and the collapse of imperial power. "So dear," says Pliny, "do pleasures and women cost us."
During the age of feudal isolation, this ever-recurring problem did not exist; and in the twelfth and thirteenth centuries it seems not to have been pressing. Imports from the Orient were nearly balanced by exports to Syria, for which the crusading movements and the Kingdom of Jerusalem created an abnormal demand. The rise of trade in the West was accompanied by an expansion of the credit system centering in the banking houses of Florence; while the supply of metals was more than maintained by the plunder of Asiatic cities, paid over by crusaders in return for supplies and munitions of war, or brought home by returning princes and nobles, by priests and merchants, by Knights of St. John or of the Temple. Between 1252 and 1284, the ducat and