This enterprising people became not only masters of the Mediterranean Sea, but were instrumental in scattering the germs of taste and intelligence, elevating the standard of civilization and establishing a system of commerce throughout a large portion of the ancient civilized world. They no doubt learned the use of gold and silver as money from the Babylonians, but they introduced and popularized the use of these metals as money throughout the Mediterranean by stamping and issuing coins of both metals in various sizes and denominations. The ratio of silver to gold in value at that time was about 13 to 1. The Phoenicians also introduced into commerce a regular system of weights and measures, and the use of bills of exchange, as a means of payment. But owing to troublesome wars and confusion caused by the contests between the Babylonian and Assyrian empires about the eighth century B. C. the commerce of Phoenicia began to decline, and after the conquest and destruction of the cities by the Greeks under Alexander the Great, including Tyre, by the celebrated siege which lasted seven months (B. C. 332), the commerce of this once energetic people passed over to the Greeks, who were then a dominant nation in the arts and sciences. The Greeks were not essentially a commercial people, being more devoted to art, architecture and literature, nevertheless they had observed the methods of the Phoenicians and became their competitors to a considerable extent in commerce, and having finally conquered them, inherited their trade. The Greeks were even greater colonizers than the Phoenicians, and established flourishing cities in Asia Minor and along the Black Sea, many of which not only became important maritime but manufacturing cities as well. Smyrna, founded by the Greeks at that time, is still a flourishing emporium, noted principally for its rugs. These cities became the centers for the products of that region, such as cereals, fish, timber, salt, leather, wood, skins and slaves. Wheat was the most important product and came chiefly from the south of Russia, as it does at the present time, and supplied Athens and Corinth with breadstuff's.

The Greeks

The Greeks in Asia

The Greeks founded several colonies in Italy, chiefly in the southern portion. They took possession of and cultivated the island of Sicily, where the fertility of the soil proved a great attraction to settlers, and there built up the rich and powerful cities of Agrigentum and Syracuse. These cities exported from Sicily large quantities of wheat, fruit, wine and oil, and conducted an extensive carrying trade with Africa and Egypt. From Italy the Greek colonies exported wine and cattle and imported articles of Greek manufacture, such as pottery, metal wares and clothing. Most of the Greek colonies in Italy, however, gave themselves up to a life of pleasure, luxury and ease, and thus in time became an easy prey to the more sturdy Romans.

Along the north coast of Africa, between Carthage and Egypt, the Greeks established a number of settlements, the most important of which was Cyrene. A genial and healthful climate, combined with a fertile soil to bring prosperity, and Cyrene carried on an active trade by land with Egypt and the. interior of Africa, from which it derived horses, grain, oil, dates, amethysts, onyx and precious stones, and by sea with Greece, Italy and Asia Minor, exchanging these products for cloth and wine. As before stated, Greek merchants carried on most of the commerce of Egypt, both domestic and foreign.

The Greeks in Italy

The Greeks in Africa