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The substantive terms of the New York statute were not at issue in this appeal, with the Court noting that since Blaisdell, "there are left hardly any open spaces of controversy concerning the constitutional restrictions of the Contact Clause upon moratory legislation referable to the depression.
Hynning, Constitutionality of Moratory Legislation, 12 Chi.
Before the re-privatization, Mexican laws on bankruptcy and debt moratory dated back to 1943.