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Show Credit Is Based on Confidence and Confidence Is Based on Character By DAVID R. FORGAN, Chicago Banker. Credit, not gold, is the life blood of business. Something like 05 per cent of all business transactions in a well-organized community involve in-volve credit in some way or another. Credit starts enterprises, mills, railways, wages wars, makes civilization. civiliza-tion. It is a kind of element closely akin to water. In the sea of credit there are already afloat innumerable credit vessels. All stocks and bonds, all national and international debts, all accounts receivable or payable on all the ledgers in the world, and nearly all of what is called money may be considered various credit vessels afloat in this great sea. Credit unites all civilized countries by unseen but very real cords of interest and mutual confidence. Every transaction of credit involves confidence con-fidence of one man or set of men in other men or sets of men. This confidence confi-dence is based on character and no modern business can be permanently successful that is not built on a foundation of character. |