Vita. The author of this study, a Maratha Hindu belonging to the Somvanshiya Mahar community, was born at Mhow in India on the 14th April 1892. His early education took place in Dapoli and Satara. Prepared partly at the Satara and partly at the Elphinstone High Schools and matriculated at Bombay University in 1907. Passed B. A. of the Bombay University in 1912 as an undergraduate student from the Elphinstone College, Bombay. Obtained in 1913 Baroda State Scholarship to join the Political Science Department of the Columbia University as a Post Graduate Student where he worked under Professors Selingman, Clark, Seager, Moore, Mitchell, Chadwick, Simkovitch, Giddings, Dewey and Goldenwfser. After finishing the residential and study requirements for the Ph. D. at the Columbia University, left New York in May 1916 for London where he studied Economics at the University of London and also law at the Inns of Court, having become a member of the Honourable Society of Grays Inn. Returned to India in 1918 and was appointed Professor of Political Economy at the Sydenham College of Commerce and Economics at Bombay. Went back to London in 1920, was called to the Bar in 1922. Returned to India in 1923. Is practising as a Barrister at the High Court of Judicature at Bombay. Degree of Doctor of Science in Economics & Commerce was conferred upon him by the University of London in 1924 in consideration of his work "The Problem of the Rupee" PROVINCIAL FINANCE A STUDY IN THE PROVINCIAL DECENTRALIZATION OF IMPERIAL FINANCE himras BY B. R. AMBEDKAR Sometime Professor of Political Economy at the Syden- WITH A FOREWORD BY EDWIN R. A. SELIGMAN Professor of Economics, Columbia University, New York Submitted in partial fulfilment of the requirements of the degree LONDON P. S. KING & SON, LTD. ORCHARD HOUSE, 2 & 4 GREAT SMITH STREET HJ 1312 •A62 Dedicated to HIS HIGHNESS SHRI SAYAJIRAO GAIKAWAD MAHARAJA OF BARODA AS A TOKEN OF MY GRATITUDE FOR HIS HELP IN THE Printed in Great Britain. PREFACE FOR a long time to come students will be saved the conventional humiliation of making an apology for presenting a study of Indian Finance or Economics. But it will, on the other hand, be necessary, I fear, for an equally long period, for them to tender an apology for the shortcomings of their respective investigations. Even when the treatment of a subject is analytical, a good analytical study often requires an historical setting. Unfortunately no spade-work has been done in the field of Indian Finance. Consequently the difficulties which beset a pioneer in that field are immense. There is occasionally the difficulty owing to the antecedents of some point not having been quite completely elucidated. Often there is the apprehension of some error having crept in, and, when there is hardly anyone to save the student from it, there is nothing but to smart under a sense of irritating affliction. Not very seldom does it happen that a pioneer student is jubilant over his find of material bearing on his subject, but it is not without a long and wearisome search that he is able to sift the grain from the chaff. Again, sources sometimes prove false guides, so that a perusal of them only ends in a considerable waste of time and energy. Precisely these have been the difficulties besetting the present task. There are no books to prepare |