cash 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.
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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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Cash \Cash\ (k[a^]sh), n. [F. caisse case, box, cash box, cash.
   See {Case} a box.]
   A place where money is kept, or where it is deposited and
   paid out; a money box. [Obs.]
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         This bank is properly a general cash, where every man
         lodges his money.                        --Sir W.
                                                  Temple.
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         [pounds]20,000 are known to be in her cash. --Sir R.
                                                  Winwood.
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   2. (Com.)
      (a) Ready money; especially, coin or specie; but also
          applied to bank notes, drafts, bonds, or any paper
          easily convertible into money.
      (b) Immediate or prompt payment in current funds; as, to
          sell goods for cash; to make a reduction in price for
          cash.
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   {Cash account} (Bookkeeping), an account of money received,
      disbursed, and on hand.

   {Cash boy}, in large retail stores, a messenger who carries
      the money received by the salesman from customers to a
      cashier, and returns the proper change. [Colloq.]

   {Cash credit}, an account with a bank by which a person or
      house, having given security for repayment, draws at
      pleasure upon the bank to the extent of an amount agreed
      upon; -- called also {bank credit} and {cash account}.

   {Cash sales}, sales made for ready, money, in distinction
      from those on which credit is given; stocks sold, to be
      delivered on the day of transaction.

   Syn: Money; coin; specie; currency; capital.
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