" In process of time the mortar wore
off, the first inscription disappeared along with it, and the second
inscription became visible.
The erection of the tower of Pharos was by no means the only service the
first Ptolemy did to commerce; throughout all his reign he manifested great
attention to it and maritime affairs, as well as to those sciences by which
they might be improved and advanced. As soon as he had made himself master
of Palestine, Syria, and Phoenicia, he turned his thoughts to the conquest
of Cyprus: this island abounded in wood, of which Egypt was almost
destitute; and on this account, as well as on account of its situation, in
the bosom, as it were, of the Levant, it was of the utmost importance to a
maritime power. He succeeded in obtaining possession of this valuable
island, and thus improved and enlarged the commercial advantages of Egypt.
His next step, with this view, was to invite the sailors of Phoenicia to
his new capital. His increasing power, especially at sea, roused the envy
of Antigonus, who, by extraordinary exertions, in the course of twelve
months built and equipped a fleet, which was able to cope with the naval
power of Ptolemy. It is foreign to our purpose to notice the wars between
them, except in so far as they are connected with the commercial history of
Alexandria. This city was benefited by these wars, for Antigonus, in his
progress, had driven many of the inhabitants of Syria, Palestine, and
Phoenicia from their native lands: to these Ptolemy gave great
encouragement, and extraordinary privileges and immunities, which induced
them to settle in Alexandria, where they followed their mercantile or
commercial pursuits.
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