He had that clause successfully planted in the Constitution. Not that any attention is paid to it.
L
It was a complicated business. A lot of founders got burned, not only with the inflationary paper Continental Currency, but some kind of switcharoo went on, lenders could at their option demand payment in gold, which was in short supply. Mortgage laws were different too, they were generally something like 7 years max, calleable at any time.
So if someone wanted your house or ranch, they’d go to the bank and pay off the note, and then demand payment in full right now.
They also had Debtor’s prisons, a couple different kinds, both bad, one type for people who owed what we would call unsecured debt today. It was on the prisoner to arrange for things like food and clothing.
And unlike today, when someone passed, the heir to the estate was also liable for the estates debts. These did not “die” with the decedent. How would you like to be responsible for your parents credit card debt upon their demise? Maybe they were frugal and invested well, though what if they weren’t, think how you’d feel anout that, and then you got thrown in prison for being unable to pay?
So “funny money” was definitely distrusted, on top of all the other BS.
Which clause?