He immediately established a monopoly of all wares, which he forbade other merchants to sell.

He reserved everything for himself alone, sold everything himself, and fixed the price by the capricious exercise of his authority.

Consequently, the city was in the greatest distress from want of provisions; the poor no longer had a sufficient supply of what was formerly sold at a low rate, and especially felt the difficulty of obtaining bread; for the governor alone bought up all the corn that came from Egypt, and did not allow anyone else to purchase even so much as a bushel; and in this manner, he taxed the loaves and put upon them what price he pleased.

By this means he amassed an enormous fortune, and was likewise careful to satisfy the greed of the Emperor.

So great was the terror inspired by Hephaestus, that the people of Alexandria endured their ill-treatment in silence; and the Emperor, out of gratitude for the money which flowed into his exchequer from that quarter, conceived a great affection for Hephaestus.