Evening star., 1927-08-29
EVERYMAN'S CREDIT
BY LEWIS SINCLAIR GRIGSBY
Assistant Secretary. Associated Retail
Credit Men of Washington.
No. 1-What Is Credit?

The word credit is derived from the
Latin "creditum-credo-be and
is defined as the belief in the truth
of statement or in the sincerity Of a
person. 1t is, in short, confidence in
your fulfillment of promise to pay.
Credit is one element of human So
ciety that is given to each and every
one to make the best Of. We all start
from scrat tch, and at the end each
must reckon the result from his own
attitude toward this overwhelming
item of existence.
While we consider credit briefly as
a matter of personal use, realize the
national and international aspect of
this worldwide activity that causes
nations to treat with one another on
mere promise. At first hand we
are greeted with the paper currency
of the United States, simply a direct
obligation OF the Government, yet ac-
cepted throughout the country as le-
gal tender.
To the individual credit constitutes
ofttimes the difference between a mere
existence and a living Of comfort and
happiness. We must necessarily use
this element in our daily existence
whether we believe in the cash.and-
house was bought on credit to a GER
tain extent. Certainly your electricity
and gas is bought on that basis. Your
doctor or dentist never asks for cash
in advance. Sometimes you arrive in
this world Is the result of credit eX-
tension and leave in the same way.
The relation between cash and credit
is the problem of the individual. One
may exert more power than the other.
1t is your decision. You may main
tain checking accounts at various
banking institutions, buy on credit in
business and patronize stores in per-
sonal way, or, If you prefer, the cash
may be carried around on your person
and expended as you see fit. The ac-
ceptance of your personal check with
out certiflcation is an example of
credit. The purchase and delivery OF
merchandise simply upon the ex-
change of slip of paper Is certainly
the personification Of belief in the sin
cerity Of 4 person.
The use of credit enables yourself
or wife to purchase items Of comfort
and sometimes necessity without eX-
peuditure Of cash on hand. II you
have felt the temporary pinch of ad-
versity and the approach Of cold
weather. no doubt you appreciate very
much the benefaction from an institu-
ton that enables you to purchase
wearing apparel. heat and light on
your mere promise to settle later on.
Credit has gradually graduated from
the old fashioned buy On tick" or
book method, until today every large
establishment maintains department
to properly care for it's credit Gus
toners.
Do you enjoy the use Of credit In its
simple phases? Is it your pleasure to
secure accommodation from banker,
merchant or friend without collateral
or Endorsement? II not. why not? A
proper appreciation of the response
bility assumed at the time OF the
obligation is a great factor in estab-
fishing your reputation in the COM
munity as one whose word is a bond
| for the fulfllment of a promise.
Examine your daily life. treat your
self fairly. Determine now that
| credit shall be a part of your regular
routine. and if you are a confirmed
addict Of this system, pledge yourself
to fairer attitude toward the same.
In effect, the whole substance of the
daily use Of credit may be summed up
in the immortal words of the Golden
Rule, do unto others as ye would be
done ,Intn