Page:Indian Journal of Economics Volume 2.djvu/244

 282 S TA NLE Y. JE VONS importance for sttccessfal finance than on the one hand a clear and successful determination o[ the aim in view, and on the other hand a fall consideration of the relevant economic laws and facts. At the outset it is necessary tO understand clearly in whatb sense the word finance is here used. My intention is to use it in a wide sense which corres- ponds as nearly as possible with scientific acceptation o[ the term, the ordinary and whilst giving it perhaps a.somewha[ clearer and more precise meaning. There is both an arand a science o[ finance; and the most convenient nomenclature is to use the word finance by itself to mean the art, and to say specially sc&n. ce of fi,tance when coraingly finance nay be regttlafiug he ransafions porae body expendittre the science is meant. Ac- defined as the art of of any individual or cor- connected with the aquisition, care and o[ money so as to achieve a certain aim or end, or set o[ aims. This is the meaning o[ the word when used in the combination public fiaa,ce; and in colloquial language "high finance" means the art or business .o[ carrying on big transactions by bankers, underwriters and issuers o[ stock exchange as in London and other great monetary person who practises the securities, centres. A financier is the art or business of finance. When we turn to the find, however, that the used in the sense o[ a the study of all acquisition, care o[ten extended to operations, prices, a literature o[ word .fi,a,.ce is science o[ finance transactions connected economics we generally to denote with the and expenditure o[ money, and is include the statistics o[ banking and so [orth. It would seem to be desirable, however, precise to have and extensive definition of the science o! corresponding in scope with that usually