7/4/2023 0 Comments Denarius to usd![]() ![]() If it became apparent that the expenses would exceed the receipts, the princeps would take special measures. But what if there were higher costs to defray? Debt was not an option. The earnings roughly covered the expenses. This worked out fine during normal years. 13 million denarii under Augustus, but during the middle of the 2 nd century AD they had risen to 19 million.Ĭrop donations, official buildings and streets, infrastructure projects and the games probably took up between 5 and 15 million denarii.Īll in all the Roman state thus had to raise 130 to 140 million denarii. In addition there were costs for the constantly expanding administration. During a war, the sum would rise drastically. Every year is swallowed 100 to 120 million denarii – in times of peace. The biggest element of expenditure was the army. The Roman mint produced millions of denarii every year. It did not only circulate in all Roman provinces but also everywhere the Romans were trading. It was around the turn of the eras that the denarius was the most important currency in the entire Roman Empire. During the first century BC, the denarius was so omnipresent that there was no need any more to specify where it came from. The Roman money supply increased tenfold during the 100 years after the capture of Macedonia in the middle of the 2nd century BC due to its rich silver deposits. The denarius followed the Roman troops, first on a small scale and then on a larger one. It consisted of almost pure silver and weighed about 4.2 grams. The denarius was independent of all other monetary systems. Despite their economic crisis, the Romans introduced a new currency shortly before the year 211 BC. The denarius came to being as a gesture of defiance and pride in the war against Hannibal. But even a high age does not protect against a crisis of confidence as shown by the history of the Roman denarius. And yet the dollar is still functioning, and it has been functioning for more than 230 years. Every American is burdened with more than 60,000 U.S. If you had $7.04 billion available to repay a debt, you would be #102 in the 2010 Forbes list of billionaires.Monetary crisis – The end of the denariusĮvery second, the government debt of the United States of America increases more than 35,000 U.S. ![]() and second richest in the world, has a net worth of $53 billion as of 2010: $35,200 x 200,000 = $7,040,000,000 $7.04 billionįor perspective, $7.04 billion is approximately one-eighth of the total wealth of Bill Gates. Therefore, if 100 denarii equaled four months’ salary, at current minimum wage, it would be equivalent to $11,733.33, which is substantially more than the NIV footnote of “a few dollars.”Įarning $35,200 per year at minimum wage, how much would you earn in 200,000 years to equal 10,000 talents? Thus, their annual wage, assuming they work 50 weeks as above, would be: $704 per week x 50 weeks = $35,200 Under California law, they would be paid 40 hours a week at $8 an hour and 32 hours of overtime at $12 an hour for a weekly wage of $704. From Matthew 20:1-16, we know that laborers worked 12 hours per day, which is 72 hours per week. What would 100 denarii and 10,000 talents look like in today’s dollars? Currently, California’s minimum wage is $8.00 per hour. You only have 9,999 more talents to go.”įrom this, we can easily see that if it takes 20 years to earn one talent, then repaying 10,000 talents would require working 200,000 YEARS! How absurd then for the servant to beg for mercy and tell the king that he would “pay back everything.” As a day laborer, he had no hope-almost literally “not in a million years”-of ever repaying his debt. You have worked for 20 years and have now earned 6,000 denarii. After 20 years of such labor, you will have earned 6,000 denarii.Īt this point, the king would say to his debtor, “Congratulations. Now suppose you continued to work as a day laborer earning 300 denarii each year. Therefore, 100 denarii was one-third of a year’s salary, or four months’ wages. Allowing approximately two weeks for various Jewish holidays, the typical laborer worked 50 weeks of the year and earned an annual wage of 300 denarii (50 weeks x 6 days). The denarius was one day’s wage for a typical day laborer, who worked six days a week with a Sabbath day of rest. ![]() The NIV footnotes usually say that this is equivalent to “several million dollars” versus “a few dollars.”Ī more accurate comparison is based on how much time it would take to earn these respective amounts of money. Matthew 18:23-35 records the parable of the two debtors: one owed the king 10,000 talents, and one owed his fellow servant 100 denarii. ![]()
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