"Credit system" Quotes from Famous Books
 ... the National Assembly, to explain the advantages of this new currency, issued an address to the French people. In this address it spoke of the nation as "delivered by this grand means from all uncertainty and from all ruinous results of the credit system." It foretold that this issue "would bring back into the public treasury, into commerce and into all branches of industry strength, ...
— Fiat Money Inflation in France - How It Came, What It Brought, and How It Ended • Andrew Dickson White
... Philadelphia. But the hostility of the Indians reduced the number of purchasers. Prior to 1800, only a million acres had been disposed of in this manner. A law of that year provided a system of registers and receivers, to be stationed at land offices scattered through the North-west Territory. A credit system was also established, whereby so small a portion as a half-section could be purchased on instalment payments, with interest at six per cent. This law made the lands very attractive, as credit propositions ...
— The United States of America Part I • Ediwn Erle Sparks
... In the North the farmer raises his crop on his own capital, and turns it over unencumbered to the merchant for the public. The credit system prevails in the agriculture of the South, and brings another precarious element into the already hazardous occupation of cotton-growing. A new party appears in the cotton-merchant. He is not merely the broker, yielding the proceeds, less a commission, ...
— Lippincott's Magazine of Popular Literature and Science, Vol. 11, - No. 22, January, 1873 • Various
... brother, he explained, who had a small factory. Jonah looked longingly, and confessed that he wanted to stock his shop, but had no money to buy. Then the traveller smiled, and explained to Jonah, alert and attentive, the credit system by which his firm would deliver fifty pounds' worth of boots at three months. Jonah was quick ...
— Jonah • Louis Stone
... squeeze the merchants, to the last drop of blood; and the merchants perish in the process, carrying with them hosts of mechanics, farmers, and professional men.—Not so, bellows a fourth philosopher, perhaps a little more seedy than the rest; it is all the work of "the infernal credit system,"—of the practice of making money out of that which is only a promise to pay money,—out of that which purports to have a real equivalent in some vault, when no such equivalent exists, and is, therefore, a fraud ...
— The Atlantic Monthly, Vol. I, No. 1, Nov. 1857 • Various |
