all depts contracted before the adoption of the constitution are valid against the united states under the constitution :)
The inability of the united states to repay its debts
All debts contracted and engagements entered into, before the adoption of this constitution, shall be as valid against the United States under this constitution, as under the confederation. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts; pass any bill of attainder, expostfacto law, or law impairing the obligation of contracts, or grant any title of nobility.
All debts and treaties entered into prior to the adoption of the Constitution shall be considered valid and will be honored by the United States of America.
In Article VI section 2 the Constitution states that all debts that are owed by the US before the Constitution is enacted are also owed by the US. Meaning that the US isn't going to blow off their old debts because of the beginning of a new nation.
The inability of the united states to repay its debts
Acticle VI, Section 2, which is known as the Supremacy Clause.Article VIAll debts contracted and engagements entered into, before the adoption of this Constitution, shall be as valid against the United States under this Constitution, as under the Confederation.This Constitution, and the laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land; and the judges in every state shall be bound thereby, anything in the Constitution or laws of any State to the contrary notwithstanding.The Senators and Representatives before mentioned, and the members of the several state legislatures, and all executive and judicial officers, both of the United States and of the several states, shall be bound by oath or affirmation, to support this Constitution; but no religious test shall ever be required as a qualification to any office or public trust under the United States.
"All debts contracted and engagements entered into, before the adoption of this Constitution, shall be as valid against the United States under this Constitution, as under the Confederation. This Constitution, and the laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land; and the judges in every state shall be bound thereby, anything in the Constitution or laws of any State to the contrary notwithstanding. The Senators and Representatives before mentioned, and the members of the several state legislatures, and all executive and judicial officers, both of the United States and of the several states, shall be bound by oath or affirmation, to support this Constitution; but no religious test shall ever be required as a qualification to any office or public trust under the United States." http://www.law.cornell.edu/constitution/articlevi
it states that the constitution shall be the supreme law of the landU.S. Const., Art. VI:"All Debts contracted and Engagements entered into, before the Adoption of this Constitution, shall be as valid against the United States under this Constitution, as under the Confederation. This Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding."Perhaps it says these four things:1. That the United States as constituted by and under the United States Constitution undertakes to repay the previous Confederation's debts, subject to the provisions of the Constitution;2. That the United States as constituted by and under the United States Constitution undertakes to honor the obligations of the previous Confederation, subject to the provisions of the Constitution;3. That the United States Constitution is supreme law of the land, including international Treaties lawfully and constitutionally entered into;4. That U.S. State court judges are specifically subject to the supremacy of the U.S. Constitution--even where State Constitutions are contrary.
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Article 6
Article V (5) of the US Constitution talks about the constitutional amendment process. The legal status of the Constitution is addressed in Article VI (6), Clause 2, (The Supremacy Clause), which essentially states that the Constitution and any federal laws and US Treaties made in compliance with the Constitution "shall be the supreme law of the land."Article VIAll debts contracted and engagements entered into, before the adoption of this Constitution, shall be as valid against the United States under this Constitution, as under the Confederation.This Constitution, and the laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land; and the judges in every state shall be bound thereby, anything in the Constitution or laws of any State to the contrary notwithstanding.The Senators and Representatives before mentioned, and the members of the several state legislatures, and all executive and judicial officers, both of the United States and of the several states, shall be bound by oath or affirmation, to support this Constitution; but no religious test shall ever be required as a qualification to any office or public trust under the United States.
Hamilton's financial plan consisted of the federal government assume payment of the debts contracted by the states. This was during the Revolution.