A Culture of Credit

A Culture of Credit

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In the growing and dynamic economy of nineteenth-century America, businesses sold vast quantities of goods to one another, mostly on credit. This book explains how business people solved the problem of whom to trust--how they determined who was deserving of credit, and for how much. Rowena Olegario traces the way resistance, mutual suspicion, skepticism, and legal challenges were overcome in the relentless quest to make information on business borrowers more accurate and available.Because reliable payment information was nearly impossible to obtain, the new credit-reporting agencies focused on the financial ... Cultural norms, moreover, held that being asked to provide a written statement of onea#39;s financial situation was a slight to onea#39;s honor. ... 5 Business manuals, periodicals, and lecturers exhorted traders to meet their payments on time, to be energetic but careful, to be thrifty, anbsp;...

Title:A Culture of Credit
Author:Rowena OLEGARIO, Rowena Olegario
Publisher:Harvard University Press - 2009-06-30


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