[1724] 290 U.S. 398 (1934).
[1725] Ibid. 442, 444. See also Veix v. Sixth Ward Building and Loan Assn. of Newark, 310 U.S. 32 (1940) in which was sustained a New Jersey statute, amending, in view of the Depression, the law governing building and loan associations. The authority of the State to safeguard the vital interests of the people, said Justice Reed, "is not limited to health, morals and safety. It extends to economic needs as well." Ibid. 38-39.
[1726] See especially Edwards v. Kearzey, 96 U.S. 595 (1878); and Barnitz v. Beverly, 163 U.S. 118 (1896).
[1727] 290 U.S. 398 (1934). As to conditions surrounding the enactment of moratorium statutes in 1933, see New York Times of January 22, 1933, sec. II, pp. 1-2.
[1728] Worthen Co. v. Thomas, 292 U.S. 426 (1934); Worthen Co. v. Kavanaugh, 295 U.S. 56 (1935).
[1729] 295 U.S. at 62.
[1730] East New York Savings Bank v. Hahn, 326 U.S. 230, 235 (1945).
[1731] Honeyman v. Jacobs, 306 U.S. 539 (1939). See also Gelfert v. National City Bank, 313 U.S. 221 (1941).
[1732] 313 U.S. at 233-234.
[1733] One reason for this is indicated in the following passage from Justice Field's opinion for the Court in Paul v. Virginia, decided in 1869: "At the present day corporations are multiplied to an almost indefinite extent. There is scarcely a business pursued requiring the expenditure of large capital, or the union of large numbers, that is not carried on by corporations. It is not too much to say that the wealth and business of the country are to a great extent controlled by them." 8 Wall. 168, 181-182.