Online Encyclopedia

CREDIT (Lat. credere, to believe)

Online Encyclopedia
Originally appearing in Volume V07, Page 390 of the 1911 Encyclopedia Britannica.
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CREDIT (
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Lat. credere, to believe)  , in a
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general sense, belief or
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trust . The word is used also to
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express the repute which a
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person has, or the estimation in which he is held . In a commercial sense
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credit is the promise to pay at a future
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time for valuable
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consideration in the
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present: hence, a reputation of solvency and ability to make such payments is also termed credit . In
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book-keeping credit is the
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side of the
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account on which payments are entered; hence, sometimes, the payments themselves . The
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part which credit plays in the
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production and
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exchange of
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wealth is discussed in all economic
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text-books, but
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special reference may be made to K . Knies, Geld and Kredit (1873-1879), and H . D .
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Macleod, Theory of Credit (1889-1891) . See also
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Hartley Withers, The Meaning of
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Money (1909) .

End of Article: CREDIT (Lat. credere, to believe)
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LORENZO DI CREDI (1459-1537) 		[next]
CREDIT FONCIER

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