Scott in DC: Ancient Rome may not have had a Federal Reserve, but laws regulating banking activities go back as far as ancient Babylonia and the Hammurabi Code. At the time of Cato, banking in Rome was rather sophisticated, and comprised interest charges on loans, as well as interest payments on deposits. Furthermore, while Rome certainly brought money INTO the city, there was also a large cash flow out - in terms of grain payments, payments to soldiers deployed over the provinces, etc.