This leads us to infer a very considerable reserve in the treasury: in fact at the very beginning of this period it amounted to almost 860,000 pounds,( 20) and was doubtless constantly on the increase.
All these facts taken together certainly lead to the inference that the position of the Roman finances at this epoch was on the whole favourable.

Only we may not in a financial point of view overlook the fact that, while the government during the two earlier thirds of this period executed splendid and magnificent buildings, it neglected to make other outlays at least as necessary.

We have already indicated how unsatisfactory were its military provisions; the frontier countries and even the valley of the Po( 21) were pillaged by barbarians, and bands of robbers made havoc in the interior even of Asia Minor, Sicily, and Italy.

The fleet even was totally neglected; there was hardly any longer a Roman vessel of war; and the war-vessels, which the subject cities were required to build and maintain, were not sufficient, so that Rome was not only absolutely unable to carry on a naval war, but was not even in a position to check the trade of piracy.

In Rome itself a number of the most necessary improvements were left untouched, and the river- buildings in particular were singularly neglected.