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In preparation for my first TL I was thinking about this:

(From the Wiki)
In the late spring of 23 BC Augustus suffered a severe illness, and on his supposed deathbed made arrangements that would ensure the continuation of the Principate in some form, whilst at the same time put in doubt the senators' suspicions of his anti-republicanism. Augustus prepared to hand down his signet ring to his favored general Agrippa. However, Augustus handed over to his co-consul Piso all of his official documents, an account of public finances, and authority over listed troops in the provinces while Augustus' supposedly favored nephew Marcellus came away empty-handed.
The illness of Augustus in 23 BC brought the problem of succession to the forefront of political issues and the public. To ensure stability, he needed to designate an heir to his unique position in Roman society and government.
Soon after his bout of illness subsided, Augustus gave up his permanent consulship.
(All this as OTL)

(POD) Augustus realized that has he died, the power of Rome can be very diminished. He and Agrippa will pass the next months trying to overcome the problem, and they arrive at the folowing conclussions based in their experience:

Succession
The Imperator must choose (if has none) a heir (Co-Imperator) the same day he ascends to power. His heir must choose a heir to have two generations of heirs.
The ‘political heir’ can be a different person from the person who will inherit the Imperator personal properties.
The three of them can’t be at the same place at the same time
The heir of the Co-Imperator is not the heir of the Imperator if the Co-Imperator dies. The Imperator must choose another Co-Imperator. There is no problem if the heir of the last Co-Imperator is chosen.
The Imperator can change his heir with the support of 4 of every 10 senators
The Co-Imperator can change his heir as he wants
When the Imperator dies or renounces his office, the Co-Imperator ascends to Imperator and his heir ascends to Co-Imperator.
With this, Augustus intends to abort civil wars for power as the Marco Antonian one
Co-Rule
The Imperator has imperium over the legions and provinces outside Italy
The Co-Imperator has imperium over the legions of Italy
Italy is governed by the Senate with right of veto by both the Imperator and Co-Imperator
The Co-Imperator can pass laws to the Senate
The laws passed by Provincial Senates (and approved by the Imperator) can be rebuked by the Co-Imperator AND 8 of every ten senators (to create a system of balances and checks)

Province Government
A Provincial Senate is to be created in every province, to rule the province reporting to the Imperator or a Governor designed by him.
Every Free Man in the provinces conquered and pacified for more than 10 years is to be considered a Roman Citizen (to increase the tax base and the roman sentiment)

Rebellions
The Provincial Senate of a rebellious province will be suspended for ten years


Will this laws be successful?
Will this laws make Rome stronger or weaker?
What is your opinions?
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