Why was buying things on credit not common in 1917

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asked Mar 17, 2020 88.3k views

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Evelin Ponce · Answer 1 · 2020-03-21T02:02:32+0000

In 1917 and prior, there was no official credit industry, however there were illegal ‘loan sharks’ illegally loaning money charging an interest rate. Another reason is people were more ashamed to have to borrow money on credit.

Why was buying things on credit not common in 1917

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