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In a quote by President Hoover referring to a vetoa quote by President Hoover referring to a veto, he stated:

With the utmost seriousness I urge the Congress to enact a relief measure, but I can not approve the measure before me, fraught as it is with possibilities of misfeasance and special privileges, so impracticable of administration, so dangerous to public credit, and so damaging to our whole conception of governmental relations to the people as to bring far more distress than it will cure.

What does he mean by public credit here?

In a quote by President Hoover referring to a veto, he stated:

With the utmost seriousness I urge the Congress to enact a relief measure, but I can not approve the measure before me, fraught as it is with possibilities of misfeasance and special privileges, so impracticable of administration, so dangerous to public credit, and so damaging to our whole conception of governmental relations to the people as to bring far more distress than it will cure.

What does he mean by public credit here?

In a quote by President Hoover referring to a veto, he stated:

With the utmost seriousness I urge the Congress to enact a relief measure, but I can not approve the measure before me, fraught as it is with possibilities of misfeasance and special privileges, so impracticable of administration, so dangerous to public credit, and so damaging to our whole conception of governmental relations to the people as to bring far more distress than it will cure.

What does he mean by public credit here?

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What is public credit?

In a quote by President Hoover referring to a veto, he stated:

With the utmost seriousness I urge the Congress to enact a relief measure, but I can not approve the measure before me, fraught as it is with possibilities of misfeasance and special privileges, so impracticable of administration, so dangerous to public credit, and so damaging to our whole conception of governmental relations to the people as to bring far more distress than it will cure.

What does he mean by public credit here?