This circumstance has given rise to the charge that the Constitution was framed and adopted by men who were interested in the protection of property, in the maintenance of the value of government securities, and in the payment of debts which had been incurred by the individual States in the course of the Revolution.
Property holders were unquestionably assisted by the mere establishment of a strong government.

The creditor class seemed to require some special provision and, when the powers of Congress were under consideration in the Federal Convention, several of the members argued strongly for a positive injunction on Congress to assume obligations of the States.

The chief objection to this procedure seemed to be based upon the fear of benefiting speculators rather than the legitimate creditors, and the matter was finally compromised by providing that all debts should be "as valid against the United States under this Constitution asunder the Confederation." The charge that the Constitution was framed and its adoption obtained by men of property and wealth is undoubtedly true, but it is a mistake to attribute unworthy motives to them.

The upper classes in the United States were generally people of wealth and so would be the natural holders of government securities.

They were undoubtedly acting in self-protection, but the responsibility rested upon them to take the lead.