Word: crediteer
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Dates: during 1930-1939
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...mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure and abdicated. Practices of the unscrupulous money changers stand indicted. True, they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit, they have proposed only the lending of more money...
Although almost all the merchants in Harvard Square are advertising today that they will extend credit and honor checks when presented with Bursar's card, the bootleggers in the vicinity demand honest-to-goodness money. The H.A.A. has announced that they will take checks for tickets for the hockey game with Yale tonight, but seven out of ten "importers and exporters" refused to supply beverages for checks. They seemed to oppose it on the grounds that it was not straightforward business. Three local dispensers were even willing to have charge accounts opened, although insisting on a personal interview first...
...appears advisable, therefore, that an organization of Harvard Square business men meet with the Student Council or a committee thereof, and arrange that a system of credit be extended to the students of the University. Since the bursar's card is evidence of the deposit of a five hundred dollar bond at Lehman Hall, there should be no serious objections to Harvard Square merchants extending at least a partial credit to students presenting their bursar's cards. Such a system being effected, business on the Square might proceed unhampered, and students would be relieved of the inconvenience brought upon them...
There rested, over the weekend, the issue of banking morality and responsibility. With one other angle: bankers high & low throughout the land, while not condoning the acts of 1929, loudly proclaimed that last week the greater villains were U. S. Senators who would risk the credit of the U. S. by putting scandal into the headlines when Confidence had already received body-blows at St. Louis (TIME, Jan. 23), New Orleans (TIME, Feb. 13), Michigan (TIME, Feb. 20) and in many another state...
After his Manhattan silk house went to the wall in the panic of 1837, Lewis Tappan, casting around for a new deal, hit on the idea of selling his knowledge of other people's businesses. His Mercantile Agency grew into the largest credit rating firm in the world. Before the Civil War it was acquired by R. G. Dun who changed the official name to R. G. Dun & Co., The Mercantile Agency. He developed the art of dispassionate snooping & prying during the next 40 years until today R. G. Dara & Co. has nearly 200 offices...