finance

finance

finance, theory and practice of conducting large public and private dealings in money. Important institutions of private finance include those that deal with insurance, banking, stocks (see stock), bonds, and other securities. With the development of the national state, public finance—the management of the revenues, expenditures, and debts of the state—has been of great political, as well as economic, importance. The most important source of government revenue is taxes, but sale of public properties and franchises, as well as the sale of interest-bearing bonds, also contribute. Since the Korean War, a large part of governmental expenditures has gone for various military and defense needs. Other important areas of governmental expenditure are health, education, and welfare (the Social Security, Medicare, and Medicaid programs); interest on the national debt; and public works. Important institutions of international finance are the International Bank for Reconstruction and Development and the International Monetary Fund.

Bibliography

See D. Allen, Finance (1983); D. Swain, Managing Public Money (1987); L. Harris et al., ed., New Perspectives on the Financial System (1988); N. Gianaris, Contemporary Public Finance (1989).

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Finance

See also Money.

Bourse

the Paris stock exchange. [Fr. Commerce: Misc.]

Dow Jones

the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202]

Lombard Street

London bankers’ row; named for 13th-century Italian moneylenders. [Br. Hist.: Plumb, 15]

Old Lady of Threadneedle Street

nickname for the Bank of England. [Br. Culture: Misc.]

Praxidice

goddess of commerce. [Gk. Myth.: Kravitz, 88]

Rockefeller, John

D(avison) (1839–1937) multimillionaire oil tycoon and financier, [Am. Hist.: EB, VIII: 623]

Throgmorton Street

location of Stock Exchange; by extension, financial world. [Br. Hist.: Brewer Dictionary, 1079]

Wall Street N.Y.C.

financial district. [Am. Hist.: Jameson, 530]

Allusions—Cultural, Literary, Biblical, and Historical: A Thematic Dictionary. Copyright 2008 The Gale Group, Inc. All rights reserved.

finance

1. funds or the provision of funds

2. funds; financial condition

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