James Clark McReynolds

“ Certainly there is ground for a plausible, if not conclusive, argument that, so far as it relates to the leasing of oil lands, it goes no further than to empower the Secretary to execute leases which, exercising a reasonable discretion, he may think would promote the public welfare. ”

“ It was passed when according to a widely accepted view decline of petroleum production in the United States was imminent. In fact, there has been an enormous increase and a consequent troublesome surplus. ”

“ That upon establishing to the satisfaction of the Secretary of the Interior that valuable deposits of oil or gas have been discovered within the limits of the land embracd in any permit, the permittee shall be entitled to a lease for one-fourth of the land embraced in the prospecting permit. ”