In the ancient Greek and Roman worlds, centred as they were on the Mediterranean, maritime transport was far more practical than land transport for long- and even medium-distance trade. Most ships seem to have been of medium size (around 70 tonnes burden) and to have been owned and run by a shipper who both carried goods as freight and traded on his own account. There were also many individual merchants who hired shipping as needed for their ventures. Then as now, the major expense in trading was the investment in purchasing goods; roughly, one cargo of wheat was worth as much as the ship. Hence a merchant, whether or not also a shipowner, often needed third-party finance, for which, because of the peculiar risks involved, a special type of loan was used. This was the maritime loan—nautikon daneion in Greek, nauticum faenus or mutua pecunia nautica in Latin.The maritime loan is first attested in 4th-century bce Athens, in four speeches attributed to Demosthenes, of which the most informative is the prosecution of the brother of a pair of merchants for fraudulent default on a loan (Dem.
In the time of the *Gracchi (c.133–121 bce) the senate was a body of around 300 wealthy men of aristocratic birth, most of them ex-magistrates. Although the sources tend to assume that this state of affairs had always existed, in fact it was the product of historical development and change. Since in the early republic there were very few magistrates, and iteration of office was common, it follows that there was a time when either the majority of senators had never held a magistracy, or their number was considerably less than 300. Probably both conclusions are true for the 5th cent. This must cast doubt on the notion that the number 300 is connected with the three tribes and thirty curiae (see curia(1)); in fact there is no basis for this theory in the ancient sources, and tradition itself implicitly denies it in maintaining that *Romulus, who founded the tribes (see tribus) and curiae, chose 100 men to form the first senate.