AERARIUM

treasury of ancient Rome, housed in the Temple of Saturn and the adjacent tabularium (record office) in the Forum. Under the republic (c. 509-27 BC) it was managed by two finance magistrates, the urban quaestors, and controlled by the Senate. In theory all revenues were paid into the aerarium, and all public payments were made from it. In practice, money was moved from the provinces to the aerarium only if the province, after paying the governor's allowance, produced a surplus. Conversely, money was paid out of the aerarium only if the provincial revenue did not cover expenses. All accounts, however, had to be balanced with the aerarium, which was thus a central clearinghouse. Under the principate (27 BC-ad 305) the aerarium gradually lost importance as the emperors, under whose seal most of the public money was spent, drew funds from provincial depots (fisci) and did not account to the aerarium. In AD 6 the emperor Augustus founded a second treasury, the aerarium militare (the old treasury was thereafter known as aerarium Saturn, eventually becoming the municipal treasury of the city of Rome). The new treasury's function was to pay bounties to discharged veterans or purchase land for them. It was supplied with funds from taxes (sales, inheritance, and property) collected by the Emperor's procurators.