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Encyclopedia Britannica



SUBSIDY (through Fr. from Lat. subsidium, reserve troops, aid, assistance, from subsidere, literally " to sit or remain behind or in reserve,")

This article appears in Volume V26, Page 2 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: STE-SUS
SUBSIDY (through Fr. from Lat. subsidium, reserve troops, aid, assistance, from subsidere, literally " to sit or remain behind or in reserve,") , an aid, subvention, assistance granted especially in money. The word has a particular use in economic histpry and practice. In
English
  history it is the general
term
  for a tax granted to the king by
parliament
 , and so distinguished from those dues, such as the customs dues, which were raised by the royal
prerogative
 ; of these subsidies there were many varieties; such was the subsidy in excess of the customs on wool,
leather
 , wine or
cloth
  exported or imported by aliens, later extended to other articles and to native exporters and importers (see TONNAGE AND POUNDAGE); there was also the subsidy which in the 14th
century
  took the place of the old feudal levies. Apart from this application the
term
 , in
modern
  times, is particularly applied to the pecuniary assistance by means of bounties, &c., given by the state to industrial undertakings (see
BOUNTY
 ). Subsidies granted by the state to literary, dramatic or other artistic institutions,
societies
 , &c., are generally styled " subventions
(Lat. subvenire, to come to the aid of).


End of Article: SUBSIDY (through Fr. from Lat. subsidium, reserve troops, aid, assistance, from subsidere, literally " to sit or remain behind or in reserve,")


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