ACCOUNTING AND BOOK-KEEPING

The peculium cannot exist without the master’s knowledge and agreement. He, however, may be unclear about its content and components, both in terms of nature (or quality) and quantity.^[570] Ulpian approvingly cites Pomponius who considers that the principal is not bound to know in detail what the peculium is made of: a rough idea (pachymeresteron) would suffice.^[571] In addition, the late second-century CE jurist Papirius Fronto compares the peculium with a human being, a statement explained by Marcian, possibly in reference to Polybius’ thought (Hist.

Concerning the ‘birth’ or establishment of the peculium, it can be ascribed to various causes and origins. Florentinus lists the slave’s personal savings out of his daily rations, and all incomes and rewards that his master allows him to keep for himself.^[573] To be added are whatever the slave is about to acquire: returns from pending litigation, inheritance, legacies, damages, refunds and other payments.

Just as the peculium arises from the master’s will, it is cancelled in the same way.^[574] The praetor’s edict provides that the peculium ceases to exist at the time of the slave’s death, manumission, or conveyance, through sale, gift, or legacy. However, creditors can bring an action on the peculium for a whole year after that, because, according to Pomponius, the peculium may still change over that period of time, through increase (gains) or decrease (losses).^[575] By contrast, the slave’s escape or kidnapping brings the autono­mous management of the peculium to an end. So does any doubt about the slave’s survival.^[576]

I would like to suggest here that no one except the slave in charge of the peculium may actually know with precision and accuracy what it is made of. The slave’s master - not to say third contracting parties - is, at best, able to acknowledge the existence of a peculium, the content of which is revealed in inventories and account books. Provided that such documents exist, that they are kept diligently up-to-date, and that they can be produced, con­sulted, deciphered and understood, it is possible to get an idea - however impressionistic - of the nature of the peculium, therefore of its value and volatility.

4.