CH. XVI.]
POWERS OF CONGRESS—BANKRUPTCY.
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to controversy, as any one, which has ever given rise to judicial argumentation. But upon all such subjects it seems desirable to adopt the sound practical maxim, Interest reipublicæ, ut finis sit litium.
§ 1110. It is, however, to be understood, that although the states still retain the power to pass insolvent and bankrupt laws, that power is not unlimited, as it was before the constitution. It does not, as will be presently seen, extend to the passing of insolvent or bankrupt acts, which shall discharge the obligation of antecedent contracts. It can discharge such contracts only, as are made subsequently to the passing of such acts, and such, as are made within the state between citizens of the same state. It does not extend to contracts made with a citizen of another state within the state, nor to any contracts made in other states.[1]- ↑ Ogden v. Saunders, 12 Wheat. R. 122, 369; Boyle v. Zacharie, 6 Peters's R. 348; 2 Kent. Comm. Lect. 37, p. 323, 324; Sergeant on Const. Law, ch. 28, p. 309, [ch. 30, p. 322;] Rawle on the Constitution, ch. 9, p. 101, 102.
