It is Diophantes and Euboulos who are thought to have introduced this measure. In point of time, it must belong to around 350 B.C., after the Social War. In peacetime, theoric capital came firstly from a regular allocation and secondly from a probable surplus of polis income. There was enough of it to finance various other work as well.
The treasurer of the theoric fund was elected: he had the right to re-election. He was responsible for the handling of the theoric monies. He and the Council together controlled the earlier economic committees. For these reasons, it was quite a powerful post.
The Theoric Fund is perhaps most significant because it was frequently drawn upon for the public welfare, or for any purpose, including war. Thus, to wage more than a simple battle, the interest of public welfare weighed against that of security, and this was a contributing factor to Athenian reluctance to engage Philip of Macedon prior to the end of Athenian autonomy.
Nightingale, Andrea Wilson. Spectacles of Truth in Classical Greek Philosophy: Theoria in Its Cultural Context.(Book review)
Mar 01, 2006; NIGHTINGALE, Andrea Wilson. Spectacles of Truth in Classical Greek Philosophy: Theoria in Its Cultural Context. Cambridge:...
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