Page:Indian Journal of Economics Volume 2.djvu/246

 284 H. STANLEY JEVONS tion that the owners of the funds in the weight or different principles in setting ciples of adoption difference of concerned incidence finance. some be definitions of forth here finance will of the the legal status of the introduces differences to be giveh to the One of my purposes of the fnndamental prin- served even by the mere of the art and science which I have already stated; because the recognition of the applicability of the of finance to transactions same underlying principles both public and private leads immediately to the important idea that a change financial agent, limited company, is of far less in the to a State, supposed. appears to as or from a significance from a private individnal company to the than is nsually One peculiar merit of company management be that it forces the persons in control to learn the elementary principles of finance. If these be systematized they will be / able to persons controlling of ownership. the nore readily avail,- funds nnder other forms 2. Aims ad importance of Fi. ance---It is clear that finance itself h_as nothing to do with determining or even studying the is made or proposed.. concern it is a management, as objects for which expenditure In the conduct of any business serious error to confuse finance with may happen, for example, when the accountant or financial director o[ a company prepares budgets of expenditure rather than the manager. In pnblic affairs it is eqnally serions to confnse finance with the determination of policy. It is almost as dangerou. s for control of the state to be vested actnally or virtnally in a umn who is by training primarily a financier as in a soldier. It may be said that the aim down the easiest path by which of finance is to lay to reach a certain