Webster's Revised Unabridged Dictionary · 1913

Direct management of public finance or public works by agents of the government for government account; -- opposed to the contract system.

The system of collecting taxes by officials who have either no interest or a very small interest in the proceeds, as distinguished from the ancient system of farming them out.

Any kind of government monopoly (tobacco, salt, etc.) used chiefly as a means of taxation. Such monopolies are largely employed in Austria, Italy, France, and Spain.