Cicero on Faith & Credit
on Monday, February 18, 2013Cicero Money Quotation saying honest credit and trusted debt are essential in order to make debtors pay their bills for credit owed. Cicero said:
“Nothing so cements and holds together all the parts of a society as faith or credit, which can never be kept up unless men are under some force or necessity of honestly paying what they owe to one another” — Cicero
Cicero is saying that trust and integrity in financial obligations are crucial for binding together all aspects of a cohesive society. The best interpretation is that when people feel they can rely on others honoring their debts and commitments through honest repayment, it creates faith and confidence that enables cooperation, trade and mutual prosperity among members of that society.
However, for such faith or credit to be maintained over the long run, there must be some compelling force or necessity ensuring that individuals actually fulfill their financial duties to one another in good faith. In other words, a well-functioning society depends on members upholding their end of economic agreements, and there needs to be real accountability for reneging on debts and obligations people owe each other.
Birthday: January 3, 106 BC – Death: 7, December 43 BC