Show credit means A correspondent asks the tile meaning indof of the tile words credit Mo bilier we wt pre presume sum lie lle wishes to bo informed concerning the derivation and use of the terni term we will ennevor to explain it the tile credit fon cler cier has hag long been the general title in france for associations that advance money on handed landed or immovable securities the credit bobi lier was the tho namo name given to a powerful corporation organized in france in for advancing money oil on movable property tile tho name nante was adopted evidently forthe for tilo purpose o of aubr ding 1 ready definition of the tile object of t the association the tile So cleto cieto general do credit Mo bilier bliler became a great arld and prof bitable enterprise It assIsted materially in tae the construction of railways 11 and the promotion of or mining minn schemes among other otiler enterprises in which etwas it was notably interested were the government loan oil on account of the russian R war the grand grind central railway company and the general omnibus company of pari parl at one time it advanced francs and at another time francs to tiie tile french government its business was FO fco great reat that in 1855 it declared a dividend 5 of 40 per cent oil on its capital while it was manifestly tile the means of doing much good in france it eventually failed the tiie introduction of tilo tile terms credit fancier Fon cier and arid credit Mo INlo bilier biller into america are duoto due to mr george francis train ho he established a credit Fon Folle cier eier lee ice with omalia lands which lie ho hawked about tile the country some bome years a ho he gave the name of rp dit mo bilier biller of america to a corporation corporate corpor ati oil with universal sal sai privileges which was organized in ln pennsylvania it was appropriated by oakes ames durant co to serve as the party of the tile third part in id the famous I 1 triplicate agreement by which the managers of the vill union on pacific ra railroad Bail rall road let out the contract for building 1 the thi road fo to thenis themselves elyes in payment baynie leit for which the tho they fook took the road itself all the united states bonds hii all ali the first mortgage bonds all the united states lands etc at the rate of low lom 1000 per cent on an entirely fictitious capital that thit is what credit Mo biller bliler means in the modem amerl ameri american ca 1 I 1 and congressional use of the tile word the tile title is nob not bot appropriate the transaction was literally a credit on movables Mova bleg bles the ilie united states government furnish the credit and the money and oakes ames ams co taking the movables mova bles that is the securities and the tile profits chicago tribune |