The Online Library of Liberty

A project of Liberty Fund, Inc.

• Preface to the Third Edition
• From Preface to the Second Edition
• From Preface to the First Edition
• General Introduction
• Chapter I
• Chapter Ii
• Book I: Public Expenditure
• Chapter I: State Economy. General Considerations
• Chapter II: The Cost of Defence
• Chapter III: Justice and Security
• Chapter IV: Administrative Supervision. Poor-relief
• Chapter V: Education. Religion
• Chapter VI: Expenditure On Industry and Commerce. Constitutional and Diplomatic Expenditure
• Chapter VII: Central and Local Expenditure
• Chapter VIII: Some General Questions of Expenditure
• Appendix.: On the Classification and Guiding Maxims of Public Expenditure.
• Book II: Public Revenue the Economic Or Quasi-private Receipts
• Chapter I: The Forms and Classification of Public Revenue
• Chapter II: The State Domain. Lands and Forests
• Chapter III: The Industrial Domain
• Chapter IV: The State As Capitalist. Administrative Revenue
• Chapter V: State Property.—general Considerations On Quasi-private Revenue
• Book III: Public Revenue (continued) the Principles of Taxation
• Chapter I: Definition and Classification of Taxation
• Chapter II: The General Features of Taxation
• Chapter III: The Distribution of Taxation
• Chapter IV: The Tax System: Its Forms
• Chapter V: The Shifting and Incidence of Taxation1
• Chapter VI: The Principles of Local Taxation
• Chapter VII: The Canons of Taxation
• Book IV: Public Revenue—concluded - the Several Kinds of Taxes
• Chapter I: Taxes On Land
• Chapter II: Taxes On Capital and Business
• Chapter III: Personal and Wages Taxes
• Chapter IV: Taxes On Property and Income
• Chapter V: Taxes On Consumption: Their Classification: Direct Consumption Taxes
• Chapter VI: Internal Taxes On Commodities
• Chapter VII: Customs Duties
• Chapter VIII: Taxes On Communications and Acts
• Chapter IX: Taxes On Successions1
• Book V: The Relation of Expenditure and Receipts
• Chapter I: Introductory—state Treasures
• Chapter II: Public Indebtedness, Its Modern Development
• Chapter III: The History of the English Debt
• Chapter IV: History of the French Debt, Indebtedness In Other Countries
• Chapter V: The Theory of Public Credit and Public Debts
• Chapter VI: The Forms of Public Debts
• Chapter VII: The Redemption and Conversion of Debt
• Chapter VIII: Local Indebtedness
• Book VI: Financial Administration and Control
• Chapter I: Introductory—historical Development
• Chapter II: The Budget—its Preparation—the Collection of Revenue
• Chapter III: The Vote of the Budget—control and Audit
• Chapter IV: Administration and Control In Local Finance

FROM PREFACE TO THE FIRST EDITION

The subject of Public Finance, as distinct from that of Political Economy, has not of late years attracted much attention in Great Britain. The very excellence of English financial institutions and management has contributed to this result by making the need of theoretic study as a basis for practical reforms less pressing. Though our financial literature is not quite so poor as some critics imagine, it must be allowed to be deficient in works dealing with the subject as a whole. Since the well-known book of McCulloch—first published in 1845 and now out of print—there has been no manual available for the student.

Such a want is specially felt in the work of teaching. A lecturer who desires to deal with financial questions has no text-book—like those at the service of his French, German, and Italian colleagues—to use as the groundwork of his instruction, and is therefore compelled to make constant reference to foreign treatises not readily accessible to, or easily read by, his class.

In the present work I have sought to temporarily supply this need by going over the whole field of Public Finance and presenting the results in a systematic form, so that a student may at least obtain a general knowledge of the leading facts and present position of this branch of political science. The selection of topics and the space assigned to each have been determined under the influence of this guiding idea.

In dealing with financial statistics—which have been kept within the narrowest possible limits—I have in most cases rounded the figures in order to fasten attention on the really important facts expressed by them. For the same reason in the conversion of foreign money into English I have been satisfied with the approximate equation of £1 = $5 = 25 francs or lire = 20 marks. The fluctuations of the rupee, the Austrian florin, and the rouble have generally made their conversion undesirable, but I have sometimes taken them at their exchange value. Finally, I should explain that the references are, unless where otherwise stated, to the volume and page of the particular author.

C. F. BASTABLE.