Posted by Ryan on Tuesday, December 15, 2009 at 9:46am.
The US will pay its debts with these exceptions:
"...neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave;..."
So ... what will the fed and state governments pay for? What will they NOT be allowed to pay for?
I'm still confused.
Example: Southerners who had owned slaves would not be reimbursed by the government when all slaves were emancipated. (Do a little research and find out what Southerners paid for slaves on average, and then think about that amount times the number of slaves on a plantation or farm.) How much money a Southerner lost depended on how many slaves he had owned and how much he had paid for each. But once all slavery was declared illegal (emancipation of slaves), any Southerner's claim for reimbursement (when he "lost" all his slaves at once) was considered an illegal claim and would not be paid.
What's another example from the statement you posted above? What other kinds of claims would not be paid by either the federal or state governments?
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