XX
COMPARISON OF GREAT BRITAIN AND THE UNITED
STATES IN REGARD TO THE BASIS OF CREDIT IN THE
TWO COUNTRIES
In borrowing money, a man’s credit depends on
some, or all, of the following particulars.
First. His known conduct respecting former
loans, and his punctuality in discharging them.
Secondly. His industry.
Thirdly. His frugality.
Fourthly. The amount and certainty of his income,
 and the freedom of his estate from the incumbrances
 of prior debts.
Fifthly. His well-founded prospects of greater
future ability, by the improvement of his estate in
value, and by aids from others.
Sixthly. His known prudence in managing his
general affairs, and the advantage they will probably
receive from the loan which he desires.
Seventhly. His known probity and honest character,
 manifested by his voluntary discharge of debts,
which he could not have been legally compelled to
pay. The circumstances which give credit to an ndividual,
 ought to have, and will have their weight
upon the lenders of money to public bodies or nations.

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