Editing Domitian (section)

=== Economy ===

[[Image:Domitian denarius son.png|thumb|400px|Upon his accession, Domitian revalued the Roman currency by increasing the silver content of the [[denarius]] by 8.88%. This coin commemorates the [[apotheosis|deification]] of Domitian's son.{{efn|Caption: IMP. CAES. DOMITIANVS AVG. P. M. / DIVUS CAESAR MP. DOMITIANI F.}}]]

Domitian's tendency towards [[micromanagement]] was nowhere more evident than in his financial policy. The question of whether Domitian left the Roman Empire in debt or with a surplus at the time of his death has been fiercely debated. The evidence points to a balanced economy for the greater part of Domitian's reign.<ref name=jones-73>Jones (1992), p. 73</ref> Upon his accession he revalued the [[Roman currency]] dramatically. He increased the silver purity of the [[denarius]] from 90% to 98% – the actual silver weight increasing from 2.87&nbsp;grams to 3.26&nbsp;grams. A financial crisis in 85 forced a [[devaluation]] of the silver purity and weight to 93.5% and 3.04&nbsp;grams respectively.<ref>{{cite web|url=http://www.tulane.edu/~august/handouts/601cprin.htm|archive-url=https://web.archive.org/web/20081101003844/http://www.tulane.edu/~august/handouts/601cprin.htm|archive-date=1 November 2008|title=Roman Currency of the Principate|date=1 November 2008}}</ref><ref name=jones-75>Jones (1992), p. 75</ref> Nevertheless, the new values were still higher than the levels that Vespasian and Titus had maintained during their reigns. Domitian's rigorous taxation policy ensured that this standard was sustained for the following eleven years.<ref name=jones-75/> Coinage from this era displays a highly consistent degree of quality including meticulous attention to Domitian's titulature and refined artwork on the reverse portraits.<ref name=jones-75/>

Jones estimates Domitian's annual income at more than 1.2 billion [[sestertius|sestertii]], of which over one-third would presumably have been spent maintaining the Roman army.<ref name=jones-73/> 

In order to appease the people of Rome an estimated 135 million sestertii was spent on donatives, or ''[[congiarium|congiaria]]'', throughout Domitian's reign.<ref name=jones-74>Jones (1992), p. 74</ref> The Emperor also revived the practice of public banquets, which had been reduced to a simple distribution of food under Nero, while he invested large sums on entertainment and games. In 86 he founded the [[Capitoline Games]] in his stadium, a quadrennial contest comprising [[Athletic sport|athletic displays]], [[chariot racing]], and competitions for [[Public speaking|oratory]], music and acting.<ref name=jones-103>Jones (1992), p. 103</ref>