n, within the meaning of this
prohibition in the Bill of Rights. It is said that it is a public
corporation and public property; that the trustees have no greater
interest in it than any other individuals; that it is not private
property, which they can sell or transmit to their heirs, and that
therefore they have no interest in it; that their office is a public
trust, like that of the Governor or a judge, and that they have no more
concern in the property of the college than the Governor in the property
of the State, or than the judges in the fines which they impose on the
culprits at their bar; that it is nothing to them whether their powers
shall be extended or lessened, any more than it is to their honors
whether their jurisdiction shall be enlarged or diminished. It is
necessary, therefore, to inquire into the true nature and character of
the corporation which was created by the charter of 1769.

There are divers sorts of corporations; and it may be safely admitted
that the legislature has more power over some than others.[9] Some
corporations are for government and political arrangement; such, for
example, as cities, counties, and towns in New England. These may be
changed and modified as public convenience may require, due regard being
always had to the rights of property. Of such corporations, all who live
within the limits are of course obliged to be members, and to submit to
the duties which the law imposes on them as such. Other civil
corporations are for the advancement of trade and business, such as
banks, insurance companies, and the like. These are created, not by
general law, but usually by grant. Their constitution is special. It is
such as the legislature sees fit to give, and the grantees to accept.

The corporation in question is not a civil, although it is a lay
corporation. It is an eleemosynary corporation. It is a private charity,
originally founded and endowed by an individual, with a charter obtained
for it at his request, for the better administration of his charity.
"The eleemosynary sort of corporations are such as are constituted for
the perpetual distributions of the free alms or bounty of the founder of
them, to such persons as he has directed. Of this are all hospitals for
the maintenance of the poor, sick, and impotent; and all colleges both
in our universities and out of them."[10] Eleemosynary corporations are
for the management of private property, according to the will of the
donor