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The Collaborative International Dictionary
Public credit

Public \Pub"lic\, a. [L. publicus, poblicus, fr. populus people: cf. F. public. See People.]

  1. Of or pertaining to the people; belonging to the people; relating to, or affecting, a nation, state, or community; -- opposed to private; as, the public treasury.

    To the public good Private respects must yield.

    He [Alexander Hamilton] touched the dead corpse of the public credit, and it sprung upon its feet.
    --D. Webster.

  2. Open to the knowledge or view of all; general; common; notorious; as, public report; public scandal.

    Joseph, . . . not willing to make her a public example, was minded to put her away privily.
    --Matt. i. 19.

  3. Open to common or general use; as, a public road; a public house. ``The public street.'' --Shak. public act or public statute (Law), an act or statute affecting matters of public concern. Of such statutes the courts take judicial notice. Public credit. See under Credit. Public funds. See Fund, 3. Public house, an inn, or house of entertainment. Public law.

    1. See International law, under International.

    2. A public act or statute.

      Public nuisance. (Law) See under Nuisance.

      Public orator. (Eng. Universities) See Orator, 3.

      Public stores, military and naval stores, equipments, etc.

      Public works, all fixed works built by civil engineers for public use, as railways, docks, canals, etc.; but strictly, military and civil engineering works constructed at the public cost.

Public credit

Credit \Cred"it\ (kr[e^]d"[i^]t), n. [F. cr['e]dit (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.

    When Jonathan and the people heard these words they gave no credit unto them, nor received them.
    --1 Macc. x. 46.

  2. Reputation derived from the confidence of others; esteem; honor; good name; estimation.

    John Gilpin was a citizen Of credit and renown.

  3. A ground of, or title to, belief or confidence; authority derived from character or reputation.

    The things which we properly believe, be only such as are received on the credit of divine testimony.

  4. That which tends to procure, or add to, reputation or esteem; an honor.

    I published, because I was told I might please such as it was a credit to please.

  5. Influence derived from the good opinion, confidence, or favor of others; interest.

    Having credit enough with his master to provide for his own interest.

  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.

    Credit is nothing but the expectation of money, within some limited time.

  7. The time given for payment for lands or goods sold on trust; as, a long credit or a short credit.

  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. 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.

    1. The reputation of, or general confidence in, the ability or readiness of a government to fulfill its pecuniary engagements.

    2. The ability and fidelity of merchants or others who owe largely in a community.

      He touched the dead corpse of Public Credit, and it sprung upon its feet.
      --D. Webster.

Usage examples of "public credit".

It was filled with crisp Re-public credit standards in thousand-denomination notes.

This measure had the effect of raising for a short time the value of the Louisiana and other shares of the company, but it failed in placing public credit on any permanent basis.

Hamilton's assumption plan had first been laid before Congress the previous January, 1790, as part of a large report in which he argued that a sound public credit was essential to economic growth and national unity.

In fact, I want him to have all public credit for this peace mission .

Books were opened at the Bank for a subscription of three millions for the support of public credit, on the usual terms of 15 pounds per cent.

It attracted great attention at the time, and was particularly pleasing to the enemies of the United States, as it showed Lincoln as the Phoenix arising from the ashes of the Federal Constitution, the Public Credit, the Freedom of the Press, State Rights and the Commerce of the North American Republic.

The sense of the necessity of public credit is so universal and so deeply rooted, that no other necessity will prevail against it.

There the credit of the individual has still all the weight of public credit.