The only road, the sure road to unquestioned credit and a sound financial condition is the exact and punctual fulfilment of every pecuniary obligation, public and private, according to its letter and spirit.
About this quote
- What does it mean?
- Hayes states that financial credibility comes from always paying debts on time and in full, both publicly and privately.
- In plain terms
- To have good credit, pay every bill on time and exactly as agreed.
- What can you take from it?
- Maintain financial soundness by fulfilling all monetary obligations promptly.
Where it applies
Putting it to work
Questions to consider
- How do you define a sound financial condition?
- Is punctuality the only path to credit?
Another view
Strict adherence to letter and spirit may not account for unforeseen hardships.
More from Rutherford B. Hayes
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