There
is a complete and perfect grant to them of all the power of
superintendence, visitation, and government. Is not this a contract? If
lands or money had been granted to him and his associates, for the same
purposes, such grant could not be rescinded. And is there any
difference, in legal contemplation, between a grant of corporate
franchises and a grant of tangible property? No such difference is
recognized in any decided case, nor does it exist in the common
apprehension of mankind.
It is therefore contended, that this case falls within the true meaning
of this provision of the Constitution, as expounded in the decisions of
this court; that the charter of 1769 is a contract, a stipulation or
agreement, mutual in its considerations, express and formal in its
terms, and of a most binding and solemn nature. That the acts in
question impair this contract, has already been sufficiently shown. They
repeal and abrogate its most essential parts.
A single observation may not be improper on the opinion of the court of
New Hampshire, which has been published. The learned judges who
delivered that opinion have viewed this question in a very different
light from that in which the plaintiffs have endeavored to exhibit it.
After some general remarks, they assume that this college is a public
corporation; and on this basis their judgment rests. Whether all
colleges are not regarded as private and eleemosynary corporations, by
all law writers and all judicial decisions; whether this college was not
founded by Dr.
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