On this day, Charles H. Dow of the Wall Street Journal, said the following:
“The true currency of commerce is credit. A part of this credit is represented by cash, but the larger part is represented by book entries on the ledgers of banks and merchants, representing the intangible credit of the borrower.”
-George W. Bishop. Charles H. Dow: Economist. Dow Jones Books. 1967.
Posted in Charles H. Dow, credit, On This Day, WSJ
On this date in 1900, Charles H. Dow, in the Wall Street Journal, said the following:
“The iron trade, while improving from one point of view, is in a position where the surface is unfavorable. When it is decided to reach bedrock prices by allowing everybody to make prices to suit himself, it means the survival of the fittest. The process of crushing out the least fit will be unpleasant for the victims and will make the situation appear worse than the facts really are.”
-Laura Sether. Dow Theory Unplugged. W&A Publishing. 2009.
Posted in Charles H. Dow, On This Day, WSJ