Quotes about creditor

A collection of quotes on the topic of creditor, debtor, money, debt.

Quotes about creditor

William Wilberforce photo
Benjamin Franklin photo

“Remember that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle, one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent, rather thrown away, five shillings, besides.
“Remember, that credit is money. If a man lets his money lie in my hands after it is due, he gives me interest, or so much as I can make of it during that time. This amounts to a considerable sum where a man has good and large credit, and makes good use of it.
“Remember, that money is of the prolific, generating nature. Money can beget money, and its offspring can beget more, and so on. Five shillings turned is six, turned again it is seven and three pence, and so on, till it becomes a hundred pounds. The more there is of it, the more it produces every turning, so that the profits rise quicker and quicker. He that kills a breeding sow, destroys all her offspring to the thousandth generation. He that murders a crown, destroys all that it might have produced, even scores of pounds.”
“Remember this saying, The good paymaster is lord of another man’s purse. He that is known to pay punctually and exactly to the time he promises, may at any time, and on any occasion, raise all the money his friends can spare. This is sometimes of great use. After industry and frugality, nothing contributes more to the raising of a young man in the world than punctuality and justice in all his dealings; therefore never keep borrowed money an hour beyond the time you promised, lest a disappointment shut up your friend’s purse for ever.
“The most trifling actions that affect a man’s credit are to be regarded. The sound of your hammer at five in the morning, or eight at night, heard by a creditor, makes him easy six months longer; but if he sees you at a billiard table, or hears your voice at a tavern, when you should be at work, he sends for his money the next day; demands it, before he can receive it, in a lump. ‘It shows, besides, that you are mindful of what you owe; it makes you appear a careful as well as an honest man, and that still increases your credit.’
“Beware of thinking all your own that you possess, and of living accordingly. It is a mistake that many people who have credit fall into. To prevent this, keep an exact account for some time both of your expenses and your income. If you take the pains at first to mention particulars, it will have this good effect: you will discover how wonderfully small, trifling expenses mount up to large sums, and will discern what might have been, and may for the future be saved, without occasioning any great inconvenience.
“For six pounds a year you may have the use of one hundred pounds, provided you are a man of known prudence and honesty.
“He that spends a groat a day idly, spends idly above six pounds a year, which is the price for the use of one hundred pounds.
“He that wastes idly a groat’s worth of his time per day, one day with another, wastes the privilege of using one hundred pounds each day.
“He that idly loses five shillings’ worth of time, loses five shillings, and might as prudently throw five shillings into the sea.
“He that loses five shillings, not only loses that sum, but all the advantage that might be made by turning it in dealing, which by the time that a young man becomes old, will amount to a considerable sum of money.””

Benjamin Franklin (1706–1790) American author, printer, political theorist, politician, postmaster, scientist, inventor, civic activist, …
Oscar Wilde photo
Abraham Lincoln photo
Stefan Zweig photo
Abraham Lincoln photo
Antonin Scalia photo
Hammurabi photo

“If any one owe a debt for a loan, and a storm prostrates the grain, or the harvest fail, or the grain does not grow for lack of water; in that year he need not give his creditor any grain, he washes his debt-tablet in water and pays no rent for this year.”

Hammurabi (-1810–-1750 BC) sixth king of Babylon

Section 48 of the Code of Hammurabi (translated by Leonard William King, 1910).
Alternately translated as: If a man owe a debt and Adad inundate his field and carry away the produce, or, though lack of water, grain have not grown in the field, in that year he shall not make any return of grain to the creditor, he shall alter his contract-tablet and he shall not pay the interest for that year.

P.G. Wodehouse photo
Johann Wolfgang von Goethe photo
Austen Chamberlain photo
Eric Maskin photo
David Graeber photo

“Indeed, India has become notorious as a country in which a very large part of the working population is laboring in effective debt peonage to a landlord or other creditor.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter Ten, "The Middle Ages", p. 256

David Lloyd George photo
John Vanbrugh photo
Christian Dior photo

“We went from losses to goods seized by creditors, while continuing to organize surrealist or abstract exhibitions…”

Christian Dior (1905–1957) French fashion designer

In September 1932 when there was world wide economic crisis
Source: Marie France Pochna, "Christian Dior: The Man who Made the World Look New", p. 53

Hunter S. Thompson photo

“Ah, fortune and fame shall follow me…and I shall dwell in the world of the chosen for a few moments of fleeting ecstasy; ere the seven burly lads turn into creditors and hustle me off to debtors' prison at last.”

Hunter S. Thompson (1937–2005) American journalist and author

Letter to Porter Bibb III (6 February 1957), p. 44
1990s, The Proud Highway : The Fear and Loathing Letters Volume I (1997)

Albrecht Thaer photo
Gustav Stresemann photo

“International indebtedness involves not only the usual slavery of debt, but the interest of the creditor nations in the debtor country.”

Gustav Stresemann (1878–1929) German politician, statesman, and Nobel Peace Prize laureate

Article for Zeit (20 April 1924), quoted in W. M. Knight-Patterson, Germany. From Defeat to Conquest 1913-1933 (London: George Allen and Unwin, 1945), p. 348
1920s

Yanis Varoufakis photo
Robert T. Kiyosaki photo

“So I pay myself first, invest the money, and let the creditors yell.”

Robert T. Kiyosaki (1947) American finance author , investor

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and the Middle Class Do Not!

Nico Perrone photo
Erik Naggum photo
Mel Brooks photo
Edward Jenks photo

“The messages of the prophets are essentially indictments of Israel for breach of covenant. They preserved some memory of the old traditions, but were not so naive as to think that the literal demands of the old law would be adequate in their own times. There is no condemnation of the stratification of society as such, rather a condemnation of the injustice and extortion which was done by the powerful. To take a specific example, the old law knew as security for a loan only the pledge (Exod. 22:26). In a simple economy, loans were evidently of an amount which would usually be adequately secured by giving to the creditor some property to hold until the loan was repaid. In case of default, the debtor's property simply reverted to the creditor. No other form of security is presupposed in the Covenant Code, and it is specifically forbidden that an Israelite be a "creditor" to one of his fellows. Already in the reign of Saul the situation had changed, Those who gathered about David as outlaws included those who had "creditors" (I Sam. 22:2), and who therefore had to flee. Under the old pledge system of security there would be no possible occasion for flight from the community in case of default. A totally different legal doctrine had come into practice whereby the person of the debtor was security for a loan. Upon default the creditor could seize him (or his family) as a slave, possibly without any legal action at all. The only alternative to slavery would have been flight. This doctrine is identical to that of Babylonian law, and no doubt of the Canaanites as well. It is in the law of the monarchy that Canaanite influence is doubtless to be posited, but it is a legal tradition in total contradiction to the customs and morality of early Israel. Amos protested violently against the way the legal doctrine was practiced, as did most of the prophets (Am. 2:6; Hos. 12:8-9; Mic. 2:1-2). The later lawcodes illustrate beautifully the way in which the early traditions, and the needs of business were brought into harmony. The older pledge system was simply inadequate for a commercial economy; and if the person of the debtor was to be protected, so also must the rights of the creditor to some security for his loan to be guaranteed. Therefore, Deuteronomy and the Holiness Code (Lv. 17-26) accept the doctrine of bodily liability, but place restrictions upon the powers of the creditor over the defaulting debtor. In the Holiness Code he is not to be treated as a slave, nor given the legal status of a slave, but rather to be as a hired laborer.”

George E. Mendenhall (1916–2016) American academic

Law and Convenant in Israel and the Ancient Near East (1954)

Robert G. Ingersoll photo
Theodor Mommsen photo
Michel Chossudovsky photo

“Macro-economic reform undermined the legal economy, reinforced illicit trade and contributed to the recycling of "dirty money" towards Peru's official and commercial creditors.”

Michel Chossudovsky (1946) Canadian economist

Source: The Globalization of Poverty and the New World Order - Second Edition - (2003), Chapter 14, IMF Shock Treatment in Peru, p. 225

Nico Perrone photo
Ignatius Sancho photo
Theodor Mommsen photo

“Caesar did not confine himself to helping the debtor for the moment; he did what as legislator he could, permanently to keep down the fearful omnipotence of capital. First of all the great legal maxim was proclaimed, that freedom is not a possession commensurable with property, but an eternal right of man, of which the state is entitled judicially to deprive the criminal alone, not the debtor. It was Caesar, who, perhaps stimulated in this case also by the more humane Egyptian and Greek legislation, especially that of Solon,(68) introduced this principle--diametrically opposed to the maxims of the earlier ordinances as to bankruptcy-- into the common law, where it has since retained its place undisputed. According to Roman law the debtor unable to pay became the serf of his creditor.(69) The Poetelian law no doubt had allowed a debtor, who had become unable to pay only through temporary embarrassments, not through genuine insolvency, to save his personal freedom by the cession of his property;(70) nevertheless for the really insolvent that principle of law, though doubtless modified in secondary points, had been in substance retained unaltered for five hundred years; a direct recourse to the debtor's estate only occurred exceptionally, when the debtor had died or had forfeited his burgess-rights or could not be found. It was Caesar who first gave an insolvent the right--on which our modern bankruptcy regulations are based-- of formally ceding his estate to his creditors, whether it might suffice to satisfy them or not, so as to save at all events his personal freedom although with diminished honorary and political rights, and to begin a new financial existence, in which he could only be sued on account of claims proceeding from the earlier period and not protected in the liquidation, if he could pay them without renewed financial ruin.”

Theodor Mommsen (1817–1903) German classical scholar, historian, jurist, journalist, politician, archaeologist and writer

Restriction on 'usury' or restrictions on the laws in relation to the collection of interest
Vol. 4, pt. 2, translated by W.P. Dickson.
The History of Rome - Volume 4: Part 2

Robert Hayne photo
William Jennings Bryan photo
Benjamin Franklin photo

“Creditors have better memories than debtors. ”

Benjamin Franklin (1706–1790) American author, printer, political theorist, politician, postmaster, scientist, inventor, civic activist, …
Benjamin Creme photo
Michael Hudson (economist) photo