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Quotation from Munn v. Illinois by Supreme Court of the United States
“When, therefore, one devotes his property to a use in which the public has an interest, he, in effect, grants to the public an interest in that use, and must submit to be controlled by the public for the common good, to the extent of the interest he has thus created.”
Munn v. Illinois, Opinion of the Court (Chief Justice Waite) (U.S. Reports text (Legal Information Institute))
Waite explains why an owner of property affected with a public interest may be subjected to regulation.
Citation: "When, therefore, one devotes his property to a use in which the public has an interest, he, in effect, grants to the public an interest in that use, and must submit to be controlled by the public for the common good, to the extent of the interest he has thus created." — Supreme Court of the United States, Munn v. Illinois, Opinion of the Court (Chief Justice Waite) (U.S. Reports text (Legal Information Institute)). (id munn-v-illinois-q2)
Portrait: Chief Justice Morrison Waite, Mathew Benjamin Brady, Public domain.
