Page:Indian Journal of Economics Volume 2.djvu/247

 PRINCIPLES OF FINNOE goal. Money is the mechanism whereby the labor and property of persons may be directed towards the atainmen of any object. The sate no longer, except in war time, forces the labor of its snbjects and requisi- tions their property. Instead, it forces them to provide i with money by taxes; and thus arises the business of the financier, who'is snpposed to discover the least onerous and the least costly method of raising the necessary funds, and to make the dispositions required by the policy of the state. for their expenditure. It is the aim of satecrMt or the art of politics to indicate the political in power for the objects or leaders, or the time goals of public activities; and members of being, are decide on a certain policy. make all the necessary realising the projects the government the persons who The financier has then to monetary or policy arrangements for adopted. He is supposed to be able with the greatest security. is to secure the objective by the transactions. On the other to say the best way of doing so The true aim of finance greatest proper efficiency in disposition of reaching the the monetary hand, whilst the methods of finance need to be subordinated to the objects of policy, it is yet true that the financier in business nust be con- cerned with nanagement, and in policy, to the extent that financial government with considerations of he must know enough of business or politics respectively to see that no injury is done to the firm or to the population by the financial measures he proposes for providing ways and means for the expenditure decided to be necessary to reach the end in view. It will be perceived from the foregoing description of the scope and aims of finance that the practical ways and means may properly veto or linit particular proposals for action, at-least temporarily; and further