In the following pages I have put together the results of my studies during a pretty lengthy period of my journalistic career. Since I gave up my connection with the Hinds, I have been able to make a special study of Indian financial and economic questions, and my impression has been strengthened that the time has come when our public men should distinguish between the different branches of politics and devote themselves to their study with a due sense of proportion as to their relative importance. The great bulk of the Indian press mainly concerns itself with what may be called administrative politics. But it must be admitted that, while this branch has its own importance, what may be called fiscal and Industrial politics, as involving the wider and the in or permanent interests of the country, demand a closer and a more regular study. Questions of the latter character are no doubt taken up by the indian press and public bodies as they arise from time to time and are disposed of from the Indian point of view, which is not always the point of view of the Government. When new taxes are imposed or new proposals concerning the public revenues of the country are made, public opinion no doubt declares itself either for or against them. Similarly, in regard to industries of the country, there has been a general and vague complaint that the policy of British rule has been destructive in its effect in the past, and is unsympathetic in its attitude at presont. But neither the fiscal nor the economic questions of India have been systematically studied in view to a consideration of the applicability to Indian conditions of the theories and conclusions of the economists of the Western countries, of those of Englatıd more especially. I do not forget that there are worthy exceptions to the generality of our public men, like Mr. Dadabhai Naoroji, who for a long time stood alone among educated Indians as a student and expounder of Indian economics. The late Mr. M. G. Ranade has also left valuable records of his views on the same. And latterly Mr. R. C. Dutt, by his 'Economic History of India' and other writings, has placed the Indian people under obligation. I may mention Mr. D. E. Wacha, and the Hon: Mr. G. K. Gokhale among other Indians who have thrown light on economic and fiscal questions by their various public utterances and writings. Still, in my humble opinion, these questions should be more generally studied by our politicians and journalists than is the case at present; and their views should be more largely diffused among the classes that take an interest in public affairs. In the following pages 1 endeavour to make a small contribution towards this end.
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