William O. Douglas

“ Respondent therefore has no claim to the water-power value which the law can recognize, if the policy of the Federal Power Act is to be respected. When respondent's claim is recognized, the effect is to make petitioner pay a private claimant for a privilege which only the United States can grant. ”

“ That Act specifies how one may acquire a license to exploit it, § 23 (b) , and the conditions under which the licensee must operate. See First Iowa Hydro-Electric Co-op. v. Federal Power Comm., 328 U.S. 152, 66 S.Ct. 906, 90 L.Ed. 1143.
Petitioner has such a license. Respondent has none and, for reasons unnecessary to relate here, concededly cannot obtain one. ”