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 in- 
come, and the freedom of his estate from the incum- 
brances 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 char- 
acter, manifested by his voluntary discharge of debts, 
which he could not have been legally compelled to 
pay. The circumstances which give credit to an n- 
dividual, ought to have, and will have their weight 
upon the lenders of money to public bodies or nations. 
109