Credit means that a certain confidence is given, and a…

Credit means that a certain confidence is given, and a certain trust reposed. Is that trust justified? and is that confidence wise? These are the cardinal questions. To put it more simply credit is a set of promises to pay; will those promises be kept?

Sourced, Lombard Street: A Description of the Money Market
(1873)

Ch. II, A General View of Lombard Street

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