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.
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            To the public good
            Private respects must yield.          --Milton.
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            He [Alexander Hamilton] touched the dead corpse of
            the public credit, and it sprung upon its feet. --D.
                                                  Webster.
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   2. Open to the knowledge or view of all; general; common;
      notorious; as, public report; public scandal.
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            Joseph, . . . not willing to make her a public
            example, was minded to put her away privily. --Matt.
                                                  i. 19.
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   3. Open to common or general use; as, a public road; a public
      house. "The public street." --Shak.
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   {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}.
      (a) See {International law}, under {International}.
      (b) 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.
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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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