402 NEW ENGLAND FISHERIES 



uncontrolled judgment of the grantor, either upon the 

 grantor's consideration as to what would be a reasonable 

 exercise of its sovereignty over the British Empire, or 

 upon the grantor's consideration of what would be a rea- 

 sonable exercise thereof towards the grantee. 



But this contention is founded on assumptions, which this 

 Tribunal cannot accept for the following reasons in addi- 

 tion to those already set forth: 



(a) Because the line by which the respective rights of 

 both Parties accruing out of the Treaty are to be circum- 

 scribed, can refer only to the right granted by the Treaty ; 

 that is to say to the liberty of taking, drying and curing 

 fish by American inhabitants in certain British waters 

 in common with British subjects, and not to the exercise 

 of rights of legislation by Great Britain not referred to in 

 the Treaty; 



(6) Because a line which would limit the exercise of 

 sovereignty of a State within the limits of its own territory 

 can be drawn only on the ground of express stipulation, 

 and not by implication from stipulations concerning a dif- 

 ferent subject-matter; 



(c) Because the line in question is drawn according to 

 the principle of international law that treaty obligations 

 are to be executed in perfect good faith, therefore exclud- 

 ing the right to legislate at will concerning the subject- 

 matter of the Treaty, and limiting the exercise of sover- 

 eignty of the States bound by a treaty with respect to that 

 subject-matter to such acts as are consistent with the 

 treaty ; 



(d) Because on a true construction of the Treaty the 

 question does not arise whether the United States agreed 

 that Great Britain should retain the right to legislate with 

 regard to the fisheries in her own territory; but whether 

 the Treaty contains an abdication by Great Britain of 

 the right which Great Britain, as the sovereign power, 



