The Richest Man in Babylon (book) - The Clay Tablets From Babylon

The Clay Tablets From Babylon

The story of Dabasir is continued in more depth, examining how Dabasir was able to repay his creditors. The story is now set as a translation of ancient Babylonian stone tablets as authored by a fictional professor of archaeology, Alfred H. Shrewsbury.

• Tablet No I

Dabasir, under the advice of his friend Mathon the money lender, is recording his financial journey back to solvency. He vowes to save one-tenth of all he earns, that he will support and clothe his wife (who returned to him when he returned to Babylon) and pay for their house, their food, etc., with seven-tenths of his income, and use the remaining two-tenths of his income to repay his creditors.

• Tablet No II

Every month, Dabasir will take the two-tenths that he has saved and split it amongst his creditors. He then gives a list of who he owes money to and how much money he owes them.

• Tablet No III

Dabasir acknowledges that he was a fool when he left Babylon the first time and states that he has spoken to his creditors. Some cursed him for his inability to pay immediately, while others begged to be paid first. Dabasir states that he is determined to repay them all and that he will deal impartially with them all.

• Tablet No IV

Dabasir relates what has happened in the last three months, that he did indeed save one-tenth of his income for his retirement and to invest and that he saved two-tenths of his income to repay his creditors. He states that his he and his wife are happy and that this plan has made an honorable man of an ex-slave.

• Tablet No V

Dabasir says that it has now been a further twelves months since he last made a tablet, but that he just finished repaying his creditors and some are impressed enough that they are even willing to lend him money again, should he want it.

Alfred H. Shrewsbury, the archaeologist who is supposedly translating these tablets, then relates that he attempted to do what Dabasir did. He visited his creditors and said that he would now deal with them on a cash-only basis and that he would split 20% of his income equally amongst them all until they were all repaid. His greengrocer "put it in a way that helped to bring around the reset. 'If you pay for all you buy and then pay some on what you owe, that is better than you have done, for ye ain't paid down the account none in three years.'" Alfred then relates that everything went as planned and that although it was difficult he and his wife did manage to live on seven-tenths of their income, save one-tenth, and eventually pay their creditors off with the remaining two-tenths.