http://www.heritage.org/constitution/#!/articles/1/essays/72/obligation-of-contract
Mr. KING moved to add, in the words used in the Ordinance of
Congs. establishing new States, a prohibition on the States to interfere
in private contracts.
Mr. Govr. MORRIS. This would be going too far. There are a thousand laws, relating to bringing actions-limitations of actions & [FN14]
which affect contracts. The Judicial power of the U. S. will be a
protection in cases within their jurisdiction; and within the State
itself a majority must rule, whatever may be the mischief done among
themselves.
Mr. SHERMAN. Why then prohibit bills of credit?
Mr. WILSON was in favor of Mr. King's motion.
http://avalon.law.yale.edu/18th_century/debates_828.asp
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