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54 2. the eastern empire: theodosius to anastasius
wild-beast shows (498) and pantomimes (502). 124 His decision to abolish
the highly unpopular tax known as the collatio lustralis or chrysargyron (498)
should perhaps also be understood in this context, as a more positive
response to this problem. The chrysargyron was a tax on urban traders and
craftsmen, and its abolition may have been an attempt to counteract
popular hostility in the cities by gaining good will towards the emperor
from at least one important sector of the urban community.
Despite his abolition of this tax 125 and his granting of tax remissions in
areas of the empire adversely affected by natural disasters or warfare, 126 and
despite other significant expenses incurred during this reign – major building
projects 127 and war against the Isaurians and, later, the Persians (see pp. 58,9
below) – Anastasius nevertheless managed over the course of his reign to
accumulate a massive reserve of 320,000 pounds of gold. 128 This figure is testimony
to Anastasius’ skill in financial management, or at the very least to his
skill in selecting officials with the requisite abilities in this area. Three policies
seem to have played particularly important parts in achieving this astonishing
result. The first, evident in Anastasius’ laws, was a concerted effort on the
part of the emperor and his officials to minimize waste and unnecessary
expenditure through such measures as increased use of adaeratio (commutation
of the land-tax in kind to gold). The second was the creation by one of
Anastasius’ praetorian prefects, Marinus, of a new category of officials, the
vindices, who assumed responsibility for overseeing the collection of the landtax
in place of city councillors, a move which is likely to have reduced the
scope for abuses on the part of the latter. 129 The third, perhaps less obviously,
was Anastasius’ currency reform, modelled, interestingly, on recent changes
in Vandalic Africa and the new Gothic regime of Theoderic in Italy. 130
Although fourth-century emperors had managed to keep the value of the
gold solidus stable, attempts to do the same for the copper nummus had been
unsuccessful, and its steady loss of value encouraged the continuation of
inflationary trends. Anastasius’ reform of 498 created a new set of copper
coins valued at forty, twenty and ten nummi. They had specified weights
which fixed their relationship with the solidus; these weights were later
doubled (512), at which time an additional five nummi denomination was
added. 131 A number of significant consequences ensued. The initial issuing
of the new coins in 498 slowed inflationary trends, while their doubling in
124 Bans: Joshua Styl. Chron. 34, 46; cf. Procopius of Gaza, Panegyric 15–16, Priscian, De laude Anast.
223–8; Cameron (1973) 228–32.
125 In spite of its unpopularity, its abolition may not, in any case, have represented that great a loss
to the government: Bagnall, Egypt 153–4. 126 Jones, LRE 237.
127 Malal. p. 409; Capizzi (1969) ch. 6. 128 Procop. SH 19.7.
129 Jones, LRE 235–6; Chrysos (1971); Chauvot (1987).
130 Metcalf (1969); Hendy, Studies 478–90.
131 Hendy, Studies 475–8, contra Jones, LRE 443 (who associates the five nummi coin with the initial
reform of 498).
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