The reasons why love to God is so great, and high, and necessary a thing, and so much esteemed above other graces, are: 1.
A book in which a summary of accounts is laid up or preserved; the final book of record in business transactions, in which all debits and credits from the journal, etc.
If, however, this should not be so, there is a foreign demand for the best of our bituminous coals, which at present we are altogether unable to meet for lack of credits on the part of those who wish the coal, and lack of ships to carry it.
What is the legitimate function of the Government in connection with reclamation districts to be financed entirely upon their own credits without the aid of national appropriations?
To German customers and those Italians who imported German goods, the Banca Commerciale allowed long credits and easy means of payment.
In a village or small town where everyone knows everyone, long creditsare possible with barter.
Every king and princelet in Europe was building his own Versailles as much beyond his means as his subjects and credits would permit.
And throughout the business cycle the amount of confidence, expressed in such ways as the readiness to grant credits and in the easy extension of the time of collection, is constantly changing.
When large sales have been made to Europe and credits are accumulating in New York and the importation of gold is imminent or already begun, the claims are bought by bankers in New York at less than par.
This simple offsetting and cancelation of debits and credits would greatly limit the amount of gold that would have to be shipped.
As a rule then, accumulating creditshere mean a low rate of exchange, accumulating debits a high rate of exchange from this to the foreign country.
Footnote 15: Since this was written the Federal Rural Credits Act has been passed, embodying the main idea here described.
For example, when a bank discounts a thousand dollar note for three months and credits its customer with the proceeds, its deposits are at that moment increased (let us say) $985.
This, quite apart from the note issues, gives a power to the banks collectively, under the general supervision and control of the board, to expand credits indefinitely at any time for real business purposes.
The proposition might better be expressed: the total credits of a nation (including money actually sent abroad) must just equal its total debits (including money imported).
In effect, all the debits and credits between the two countries are merged into one big ledger balance, and the international shipment of gold bullion finally made is just the amount needed to balance the accounts payable at the time.
The opposite effect is produced on exports, and thus in a short time the national credits and debits are again brought into equilibrium.
These creditsor paper were worth, in the market, nine per cent.
The curious epitaph on her tomb praises her learning, judgment, candor, penetration, and love of truth, and credits her with being a devoted and intelligent mother.
Quebec credits it to the same source, in their third series (1871).
Photius praises the style of Hesychius, and credits him with being a veracious historian.
Max Muller credits him with having anticipated Humboldt, and with making "one of the most brilliant discoveries in the history of the science of language" by establishing the relation between the Malay and Polynesian family of speech.
The action of the Federal Farm Board in granting credits to farm cooperatives saved many of them from bankruptcy and increased their purpose and strength.
Upon our further initiative an agreement was made by Germany's private creditors providing for an extension of such credits until the German people can develop more permanent and definite forms of relief.
The resolutions of the commission on international creditsare therefore based on the resolutions of the other commissions.
In other words, we cannot raise wages, railway rates, expand our credits and currency, and hope to maintain the same level of prices of foods.
The other will hold the rise of prices as due to shortage in production, either at home or abroad, and that rise in price necessitates an increase in credits and money to carry on commerce.
They can also point out that our Treasury and banks deliberately inflated bank credits in order to place war loans and that if this form of credits was removed our expansion would be nothing like its present volume.
The storm is that they have mostly exhausted their credits and they have not recovered production so as to offer commodities to us in exchange for ours.
This was an invention of necessity on which the whole system of credits was based, and on which such a structure of extortion and other evils was reared.
Powers in respect of which the Commission may decide thatcredits should be given to Germany, plus the amount of the Belgian debt to the Allies, the amounts of these deductions and additions to be determined later by the Commission.
Under the Spa Agreement, therefore, sums received from Germany in cash, and credits in respect of deliveries in kind were to be applied to the discharge of her obligations in the following order: 1.
Credits placed at her disposal in Berlin, equivalent in value to 300 million gold marks, to be available, as required, over a period of five years, might be enough.
Under steam alone the log credits the ship with a speed of 6 knots; Marestier estimated her speed at 5-1/4 knots in smooth water.
Morrison[11] credits the building of the Savannah to Francis Fickett and says she was intended for the Havre packet run.
The business institution which deals especially with credits is the bank.
As fast as these footings are completed, they are sent to the proof clerk, who puts them in the debit column opposite the credits of the banks, respectively.
OOF transactions include official export credits (such as Ex-Im Bank credits), official equity and portfolio investment, and debt reorganization by the official sector that does not meet concessional terms.
In mid-1994, the Belarusian government embarked on an austerity program with IMF support to slash state credits and consumer subsidies in order to bring down the budget deficit and reduce inflation.
Each of these institutions acts for its individual interest alone, independently of the others, and the prevailing tendency of each at all times is to expand its credits to the limit permitted by law.
These credits are of two kinds, documentary and clean.
In practice, however, most credits withdrawn by notes have been established by the deposit of checks which have been collected by this bank in gold or lawful money through the clearing house.
London in the form of sterling credits; that is to say, credits available by drafts drawn in pounds sterling on London.
