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Updated: June 11, 2025
It is a power "complete in itself," exercisable "at its utmost extent," and without limitations "other than are prescribed by the Constitution.... If, as has always been understood, the sovereignty of Congress, though limited to specified objects, is plenary as to those objects, the power over commerce with foreign nations and among the several States is vested in Congress as absolutely as it would be in a single government having in its constitution the same restrictions on the exercise of power as are found in the Constitution of the United States."
"The power given to the Supreme Court," he says, "to construe the Constitution, to enforce its provisions, to preserve its limitations, and guard its prohibitions, is not political power, but is judicial power alone because it is power exercisable by that court only in the discharge of the judicial function of hearing and deciding causes in their nature cognizable by courts of law and equity."
The best manner of dealing with these monopolies, after they have been created and recognized, is not settled by any means to the same extent; but the principle of restricting the franchises under which they operate to a limited term of years is well established, and the tendency is towards a constant reduction of the length of such leases and towards the retention of a right of purchase, exercisable at all or at certain stated times.
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