is
approval. The company, on the selection of the lands, may acquire
immediate possession by permanently marking their boundaries and
publishing description thereof in any two newspapers of general
circulation in the Territory of Montana. Patents are to be issued on
the performance, within two years, of the following conditions:

First. The lands to be surveyed at the expense of the company, and each
tract to be "as nearly in a square form as may be practicable."

Second. The company to furnish evidence satisfactory to the Secretary of
the Interior that they have erected and have in operation in one or more
places on said lands iron works capable of manufacturing at least 1,500
tons of iron per annum.

Third. The company to have paid for said lands the minimum price of
$1.25 per acre.

It is also provided that the "patents shall convey no title to any
mineral lands except iron and coal, or to any lands held by right of
possession, or by any other title, _except Indian title_, valid at
the time of the selection of the said lands." The company are to have
the privileges of _ordinary preemptors_ and be subject to the same
restrictions as such preemptors with reference to wood and timber on the
lands, with the exception of so much as may be necessarily used in the
erection of buildings and in the legitimate business of manufacturing
iron.

The parties upon whom these privileges are conferred are designated in
the bill as "The New York and Montana Iron Mining and Manufacturing
Company." Their names and residence not being disclosed, it must be
inferred that this company is a corporation, which, under color of
corporate powers derived from some State or Territorial legislative
authority, proposes to carry on the business of mining and manufacturing
iron, and to accomplish these ends seeks this grant of public land in
Montana. Two questions thus arise, viz, whether the privileges the bill
would confer should be granted to any person or persons, and, secondly,
whether, if unobjectionable in other respects, they should be conferred
upon a corporation.

The public domain is a national trust, set apart and held for the
general welfare upon principles of equal justice, and not to be bestowed
as a special privilege upon a favored class. The proper rules for the
disposal of public land have from the earliest period been the subject
of earnest inquiry, grave discussion, and deliberate judgment. The
purpose of _direct_ revenue