“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?”
Quote by Walter Bagehot
Work
Lombard Street: A Description of the Money Market
This book offers an in-depth analysis of the London money market, examining its structure, functions, and impact on the global financial system. It delves into the practices and mechanisms of the money market, providing historical context and insights into the role of Lombard Street as a financial hub. more
Author
Walter Bagehot
Walter Bagehot was an English journalist and social philosopher, best known for his editorial role at The Economist. His writings on economics, finance, and political institutions have had a profound impact on the field. more
You May Also Like
“The purse strings tie us to our kind.”
Source: Estimates of Some Englishmen and Scotchmen
Source: The collected works of Walter Bagehot
Source: Physics and Politics: Or, Thoughts on the Application of the Principles of
“The student is to collect and evaluate facts. The facts are locked up in the patient.”
Source: Medical Education in the United States and Canada: A Report to the Carnegie Foundation for the Advancement of Teaching
“But maybe half a lie is worse than a real lie.”
Source: Six Plays
“It doesn't pay well to fight for what we believe in.”
Source: Four Plays
“Like all former thinkers, I'm writing a book.”
Source: The collected plays