nd so we have the beginnings of national bankruptcy which was stated by the Constitution of the United States of America, which had assumed the liabilities of the thirteen original colonies.  The Constitution merely "re-published" the public debt. The First National Bank of 1792 facilitated the transactions.  The security for the debt was Washington City in the District of Columbia and other facilities owned/controlled by the Republic.   The thirteen colonies were parties to the Constitution/bankruptcy as were any “public” entities.   “Public” entities were
typified as “debtors”.

     The national bankruptcy is for a period of seventy years.  At that time if the debt can be redeemed then the surety is released, and all liens and encumbrances go away.  In this particular instance the debt was not paid and so another national bankruptcy was entered into and another surety was proposed.  The original thirteen parties to the original bankruptcy had increased to many and so a new institution to deal with this situation was formed.  An American Civil War was entered into to provide the conquest of the Southern States, and to guarantee that
unencumbered free-hold as a surety.  The ‘bastard’ Congress that resulted from that conflict never allowed representation to the inhabitants of the Southern States, and so the claims of the Southern free-holders went unheeded.  It was a matter of conquest.  The new apparatus to facilitate the second bankruptcy was known as the United States of America with its corporate headquarters at Washington, D.C.  It was eventually registered as a corporation in London, England.  This new public entity circumvented the Constitution of the united States via several amendments (in particular the 14th Amendment), and so the new corporation became a de facto
government for all intents and purposes, and operated under color of law.

      The second attempt at bankruptcy fared no better than the first.  After seventy years of reorganization there was still no resolution to the problem, and so there was a third bankruptcy entered into.  This time the surety took on a new face.