Credit (kr&ebreve_;d&ibreve_;t), n. [F. crédit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See Creed.] 1. Reliance on the truth of something said or done; belief; faith; trust; confidence.
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When Jonathan and the people heard these words they gave no credit unto them, nor received them. 1 Macc. x. 46.
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2. Reputation derived from the confidence of others; esteem; honor; good name; estimation.
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John Gilpin was a citizen
Of credit and renown. Cowper.
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3. A ground of, or title to, belief or confidence; authority derived from character or reputation.
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The things which we properly believe, be only such as are received on the credit of divine testimony. Hooker.
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4. That which tends to procure, or add to, reputation or esteem; an honor.
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I published, because I was told I might please such as it was a credit to please. Pope.
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5. Influence derived from the good opinion, confidence, or favor of others; interest.
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Having credit enough with his master to provide for his own interest. Clarendon.
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6. (Com.) Trust given or received; expectation of future playment for property transferred, or of fulfillment or promises given; mercantile reputation entitling one to be trusted; -- applied to individuals, corporations, communities, or nations; as, to buy goods on credit.
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Credit is nothing but the expectation of money, within some limited time. Locke.
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7. The time given for payment for lands or goods sold on trust; as, a long credit or a short credit.
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8. (Bookkeeping) The side of an account on which are entered all items reckoned as values received from the party or the category named at the head of the account; also, any one, or the sum, of these items; -- the opposite of debit; as, this sum is carried to one's credit, and that to his debit; A has several credits on the books of B.
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Bank credit, or Cash credit. See under Cash. -- Bill of credit. See under Bill. -- Letter of credit, a letter or notification addressed by a banker to his correspondent, informing him that the person named therein is entitled to draw a certain sum of money; when addressed to several different correspondents, or when the money can be drawn in fractional sums in several different places, it is called a circular letter of credit. -- Public credit. (a) The reputation of, or general confidence in, the ability or readiness of a government to fulfill its pecuniary engagements. (b) The ability and fidelity of merchants or others who owe largely in a community.
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He touched the dead corpse of Public Credit, and it sprung upon its feet. D. Webster.
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