THE ROMAN IMPERIAL COINAGE VOL. IV. PART IL. MACRINUS TO PUPIENUS BY HAROLD MATTINGLY, M.A. assueray-XREPED IN TIE DEPARMONET OF CONS AND MEDALS, BRITS MUSECM EDWARD A. SYDENHAM, M.A. AND C. H, V. SUTHERLAND, M.A. WITH INTRODUCTIONS TO THE REIGNS AND 13 PLATES LONDON SPINK & SON, L™ 87, mas some, 8:1 1938PREFACE In the period covered by the second part of volume IV we notice the gradual displacement of senatorial in favour of military administra~ tion. Macrinus was the first emperor of non-senatorial rank, and his brief reign illustrates the army's claim to make or unmake emperors at will, Severus Alexander has been credited, on somewhat doubtful cevidence, with aiming at the restoration of senatorial government. But in the elevation of Maximinus, a semi-barbarian who had risen from the ranks, the army pressed its claims to the extent of appointing ‘an emperor without even waiting for the Senate’s consent. ‘The joint rule of Balbinus and Pupienus marked the Senate’s last attempt to reassert its authority, and by its failure further emphasised its weakness ‘While the monetary system continued to be similar in its main features to that of the last period (Vol. IV, 1) one major change was effected, The ‘ Antoninianus" (the double-denarius), that had been introduced by Caracalla, was still struck, even if not in great quantities, by Macrinus, but it was abandoned early in the reign of Elagabalus, and not restored by Severus Alexander or Maximin f, Antoniniani of ‘Alexander are excessively rare; for Maximin they are quite unknown. They are first struck again in. mass by Balbinus and Pupienus, It seems reasonably certain that the double-denarius and denarius were not s0 exactly adjusted to one another as to secle down easily into one ‘stable system, and that, in actual fact, they did not thus settle down.* ‘The restoration of the denarius to sole honour was probably intended and understood as 2 concession to conservatism in finance. ‘The reissue of the Antoninianus in mass by the Senatorial emperors, Balbinus and Pupienus, must have been dictated by financial necessity —the necessity to have money, and to have it quickly. ‘That is really almost the only motive that they can have shared with Catacala, ‘Our short period, then, over most of its length, shows a restoration of the denarius to its traditional place in the system. Can it be to this * restoration ’ that the legends RESTITVTOR MON. and MON, RESTITVTA of Severus Alexander refer? ‘The idea is attractive, inasmuch as that emperor may reasonably count as the restorer of the denarius, But the legends and types considered Cp. CH. V, Sutherland, Coinage ond Currency in Roman Britain, pp. 39