Repudiation

The Constitution provides that the States can make no laws which shall impair the obligation of contracts; yet the Eleventh Amendment provides that the jurisdiction of the National Supreme Court does not extend to suits brought against a State by a citizen of another State. Hence the States have been at liberty either to repudiate or to acknowledge debts. Repudiation has been adopted at various times and in various degrees by Georgia, Louisiana, Mi i ippi, Alabama, Florida, the Carol in as, Arkansas, Tenne ee, Minnesota, Michigan and Virginia. The repudiation of the last mentioned State involved the largest sum ($33,000,000), now partially liquidated. In some of the other States, too, bills have been pa ed in the Legislature, since the repudiating acts, for refunding the debt.