"But was there, then, absolutely no class under your system," said Edith's mother, "which even by the standards of your time could claim an ethical as well as a legal title to their possessions?"
"Oh, yes," I replied, "we have been speaking of the rich. You may set it down as a rule that the rich, the possessors of great wealth, had no moral right to it as based upon desert, for either their fortunes belonged to the class of inherited wealth, or else, when accumulated in a lifetime, necessarily represented chiefly the product of others, more or less forcibly or fraudulently obtained. There were, however, a great number of modest competencies, which were recognized by public opinion as being no more than a fair measure of the service rendered by their possessors to the community. Below these there was the vast mass of well-nigh wholly penniless toilers, the real people. Here there was indeed abundance of ethical title to property, for these were the producers of all; but beyond the shabby clothing they wore, they had little or no property."
"It would seem," said Edith, "that, speaking generally, the class which chiefly had the property had little or no right to it, even according to the ideas of your day, while the masses which had the right had little or no property."
"Substantially that was the case," I replied. "That is to say, if you took the aggregate of property held by the merely legal title of inheritance, and added to it all that had been obtained by means which public opinion held to be speculative, extortionate, fraudulent, or representing results in excess of services rendered, there would be little property left, and certainly none at all in considerable amounts."
"From the preaching of the clergy in Julian's time," said the doctor, "you would have thought the corner stone of Christianity was the right of property, and the supreme crime was the wrongful appropriation of property. But if stealing meant only taking that from another to which he had a sound ethical title, it must have been one of the most difficult of all crimes to commit for lack of the requisite material. When one took away the possessions of the poor it was reasonably certain that he was stealing, but then they had nothing to take away."
"The thing that seems to me the most utterly incredible about all this terrible story," said Edith, "is that a system which was such a disastrous failure in its effects on the general welfare, which, by disinheriting the great mass of the people, had made them its bitter foes, and which finally even people like Julian, who were its beneficiaries, did not attempt to defend as having any ground of fairness, could have maintained itself a day."
"No wonder it seems incomprehensible to you, as now, indeed, it seems to me as I look back," I replied. "But you can not possibly imagine, as I myself am fast losing the power to do, in my new environment, how benumbing to the mind was the prestige belonging to the immemorial antiquity of the property system as we knew it and of the rule of the rich based on it. No other institution, no other fabric of power ever known to man, could be compared with it as to duration. No different economic order could really be said ever to have been known. There had been changes and fashions in all other human institutions, but no radical change in the system of property. The procession of political, social, and religious systems, the royal, imperial, priestly, democratic epochs, and all other great phases of human affairs, had been as passing cloud shadows, mere fashions of a day, compared with the hoary antiquity of the rule of the rich. Consider how profound and how widely ramified a root in human prejudices such a system must have had, how overwhelming the presumption must have been with the mass of minds against the possibility of making an end of an order that had never been known to have a beginning! What need for excuses or defenders had a system so deeply based in usage and antiquity as this? It is not too much to say that to the mass of mankind in my day the division of the race into rich and poor, and the subjection of the latter to the former, seemed almost as much a law of Nature as the succession of the seasons--something that might not be agreeable, but was certainly unchangeable. And just here, I can well understand, must have come the hardest as well as, necessarily, the first task of the revolutionary leaders--that is, of overcoming the enormous dead weight of immemorial inherited prejudice against the possibility of getting rid of abuses which had lasted so long, and opening people's eyes to the fact that the system of wealth distribution was merely a human institution like others, and that if there is any truth in human progress, the longer an institution had endured unchanged, the more completely it was likely to have become out of joint with the world's progress, and the more radical the change must be which, should bring it into correspondence with other lines of social evolution."
"That is quite the modern view of the subject," said the doctor. "I shall be understood in talking with a representative of the century which invented poker if I say that when the revolutionists attacked the fundamental justice of the old property system, its defenders were able on account of its antiquity to meet them with a tremendous bluff--one which it is no wonder should have been for a time almost paralyzing. But behind the bluff there was absolutely nothing. The moment public opinion could be nerved up to the point of calling it, the game was up. The principle of inheritance, the backbone of the whole property system, at the first challenge of serious criticism abandoned all ethical defense and shriveled into a mere convention established by law, and as rightfully to be disestablished by it in the name of anything fairer. As for the buccaneers, the great money-getters, when the light was once turned on their methods, the question was not so much of saving their booty as their bacon.
"There is historically a marked difference," the doctor went on, "between the decline and fall of the systems of royal and priestly power and the passing of the rule of the rich. The former systems were rooted deeply in sentiment and romance, and for ages after their overthrow retained a strong hold on the hearts and imaginations of men. Our generous race has remembered without rancor all the oppressions it has endured save only the rule of the rich. The dominion of the money power had always been devoid of moral basis or dignity, and from the moment its material supports were destroyed, it not only perished, but seemed to sink away at once into a state of putrescence that made the world hurry to bury it forever out of sight and memory."
Chapter XVII.
The revolution saves private property from monopoly
Table of Contents
"Really," said her mother, "Edith touched the match to quite a large discussion when she suggested that you should open the safe for us."
To which I added that I had learned more that morning about the moral basis of economic equality and the grounds for the abolition of private property than in my entire previous experience as a citizen of the twentieth century.
"The abolition of private property!" exclaimed the doctor. "What is that you say?"
"Of course," I said, "I am quite ready to admit that you have something--very much better in its place, but private property you have certainly abolished--have you not? Is not that what we have been talking about?"
The doctor turned as if for sympathy to the ladies. "And this young man," he said, "who thinks that we have abolished private property has at this moment in his pocket a card of credit representing a private annual income, for strictly personal use, of four thousand dollars, based upon a share of stock in the wealthiest and soundest corporation in the world, the value of his share, calculating the income on a four-per-cent basis, coming to one hundred thousand dollars."
I felt a little silly at being convicted so palpably of making a thoughtless observation, but the doctor hastened to say that he understood perfectly what had been in my mind. I had, no doubt, heard it a hundred times asserted by the wise men of my day that the equalization of human conditions as to wealth would necessitate destroying the institution of private property, and, without having given special thought to the subject, had naturally assumed that the equalization of wealth having been effected, private property must have been abolished, according to the prediction.
"Thanks," I said; "that is it exactly."
> "The Revolution," said the doctor, "abolished private capitalism--that is to say, it put an end to the direction of the industries and commerce of the people by irresponsible persons for their own benefit and transferred that function to the people collectively to be carried on by responsible agents for the common benefit. The change created an entirely new system of property holding, but did not either directly or indirectly involve any denial of the right of private property. Quite on the contrary, the change in system placed the private and personal property rights of every citizen upon a basis incomparably more solid and secure and extensive than they ever before had or could have had while private capitalism lasted. Let us analyze the effects of the change of systems and see if it was not so."
"Suppose you and a number of other men of your time, all having separate claims in a mining region, formed a corporation to carry on as one mine your consolidated properties, would you have any less private property than you had when you owned your claims separately? You would have changed the mode and tenure of your property, but if the arrangement were a wise one that would be wholly to your advantage, would it not?"
"No doubt."
"Of course, you could no longer exercise the personal and complete control over the consolidated mine which you exercised over your separate claim. You would have, with your fellow-corporators, to intrust the management of the combined property to a board of directors chosen by yourselves, but you would not think that meant a sacrifice of your private property, would you?"
"Certainly not. That was the form under which a very large part, if not the largest part, of private property in my day was invested and controlled."
"It appears, then," said the doctor, "that it is not necessary to the full possession and enjoyment of private property that it should be in a separate parcel or that the owner should exercise a direct and personal control over it. Now, let us further suppose that instead of intrusting the management of your consolidated property to private directors more or less rascally, who would be constantly trying to cheat the stockholders, the nation undertook to manage the business for you by agents chosen by and responsible to you; would that be an attack on your property interests?"
"On the contrary, it would greatly enhance the value of the property. It would be as if a government guarantee were obtained for private bonds."
"Well, that is what the people in the Revolution did with private property. They simply consolidated the property in the country previously held in separate parcels and put the management of the business into the hands of a national agency charged with paying over the dividends to the stockholders for their individual use. So far, surely, it must be admitted the Revolution did not involve any abolition of private property."
"That is true," said I, "except in one particular. It is or used to be a usual incident to the ownership of property that it may be disposed of at will by the owner. The owner of stock in a mine or mill could not indeed sell a piece of the mine or mill, but he could sell his stock in it; but the citizen now can not dispose of his share in the national concern. He can only dispose of the dividend."
"Certainly," replied the doctor; "but while the power of alienating the principal of one's property was a usual incident of ownership in your time, it was very far from being a necessary incident or one which was beneficial to the owner, for the right of disposing of property involved the risk of being dispossessed of it by others. I think there were few property owners in your day who would not very gladly have relinquished the right to alienate their property if they could have had it guaranteed indefeasibly to them and their children. So to tie up property by trusts that the beneficiary could not touch the principal was the study of rich people who desired best to protect their heirs. Take the case of entailed estates as another illustration of this idea. Under that mode of holding property the possessor could not sell it, yet it was considered the most desirable sort of property on account of that very fact. The fact you refer to--that the citizen can not alienate his share in the national corporation which forms the basis of his income--tends in the same way to make it a more and not a less valuable sort of property. Certainly its quality as a strictly personal and private sort of property is intensified by the very indefeasibleness with which it is attached to the individual. It might be said that the reorganization of the property system which we are speaking of amounted to making the United States an entailed estate for the equal benefit of the citizens thereof and their descendants forever."
"You have not yet mentioned" I said, "the most drastic measure of all by which the Revolution affected private property, namely, the absolute equalizing of the amount of property to be held by each. Here was not perhaps any denial of the principle itself of private property, but it was certainly a prodigious interference with property holders."
"The distinction is well made. It is of vital importance to a correct apprehension of this subject. History has been full of just such wholesale readjustments of property interests by spoliation, conquest, or confiscation. They have been more or less justifiable, but when least so they were never thought to involve any denial of the idea of private property in itself, for they went right on to reassert it under a different form. Less than any previous readjustment of property relations could the general equalizing of property in the Revolution be called a denial of the right of property. On the precise contrary it was an assertion and vindication of that right on a scale never before dreamed of. Before the Revolution very few of the people had any property at all and no economic provision save from day to day. By the new system all were assured of a large, equal, and fixed share in the total national principal and income. Before the Revolution even those who had secured a property were likely to have it taken from them or to slip from them by a thousand accidents. Even the millionaire had no assurance that his grandson might not become a homeless vagabond or his granddaughter be forced to a life of shame. Under the new system the title of every citizen to his individual fortune became indefeasible, and he could lose it only when the nation became bankrupt. The Revolution, that is to say, instead of denying or abolishing the institution of private property, affirmed it in an incomparably more positive, beneficial, permanent, and general form than had ever been known before.
"Of course, Julian, it was in the way of human nature quite a matter of course that your contemporaries should have cried out against the idea of a universal right of property as an attack on the principle of property. There was never a prophet or reformer who raised his voice for a purer, more spiritual, and perfect idea of religion whom his contemporaries did not accuse of seeking to abolish religion; nor ever in political affairs did any party proclaim a juster, larger, wiser ideal of government without being accused of seeking to abolish government. So it was quite according to precedent that those who taught the right of all to property should be accused of attacking the right of property. But who, think you, were the true friends and champions of private property? those who advocated a system under which one man if clever enough could monopolize the earth--and a very small number were fast monopolizing it--turning the rest of the race into proletarians, or, on the other hand, those who demanded a system by which all should become property holders on equal terms?"
"It strikes me," I said, "that as soon as the revolutionary leaders succeeded in opening the eyes of the people to this view of the matter, my old friends the capitalists must have found their cry about 'the sacred right of property' turned into a most dangerous sort of boomerang."
"So they did. Nothing could have better served the ends of the Revolution, as we have seen, than to raise the issue of the right of property. Nothing was so desirable as that the people at large should be led to give a little serious consideration on rational and moral grounds to what that right was as compared with what it ought to be. It was very soon, then, that the cry of 'the sacred right of property,' first raised by the rich in the name of the few, was re-echoed with overwhelming effect by the disinherited millions in the name of all."
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br /> Chapter XVIII.
An echo of the past
Table of Contents
"Ah!" exclaimed Edith, who with her mother had been rummaging the drawers of the safe as the doctor and I talked, "here are some letters, if I am not mistaken. It seems, then, you used safes for something besides money."
It was, in fact, as I noted with quite indescribable emotion, a packet of letters and notes from Edith Bartlett, written on various occasions during our relation as lovers, that Edith, her great-granddaughter, held in her hand. I took them from her, and opening one, found it to be a note dated May 30, 1887, the very day on which I parted with her forever. In it she asked me to join her family in their Decoration-day visit to the grave at Mount Auburn where her brother lay, who had fallen in the civil war.
"I do not expect, Julian," she had written, "that you will adopt all my relations as your own because you marry me--that would be too much--but my hero brother I want you to take for yours, and that is why I would like you to go with us to-day."
The gold and parchments, once so priceless, now carelessly scattered about the chamber, had lost their value, but these tokens of love had not parted with their potency through lapse of time. As by a magic power they called up in a moment a mist of memories which shut me up in a world of my own--a world in which the present had no part. I do not know for how long I sat thus tranced and oblivious of the silent, sympathizing group around me. It was by a deep involuntary sigh from my own lips that I was at last roused from my abstraction, and returned from the dream world of the past to a consciousness of my present environment and its conditions.
"These are letters," I said, "from the other Edith--Edith Bartlett, your great-grandmother. Perhaps you would be interested in looking them over. I don't know who has a nearer or better claim to them after myself than you and your mother."
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