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but a shameful necessity."

Presently I said: "When you have satisfied your curiosity as to these papers I suppose we might as well make a bonfire of them, for they seem to have no more value now than a collection of heathen fetiches after the former worshipers have embraced Christianity."

"Well, and has not such a collection a value to the student of history?" said the doctor. "Of course, these documents are scarcely now valuable in the sense they were, but in another they have much value. I see among them several varieties which are quite scarce in the historical collections, and if you feel disposed to present the whole lot to our museum I am sure the gift will be much appreciated. The fact is, the great bonfire our grandfathers made, while a very natural and excusable expression of jubilation over broken bondage, is much to be regretted from an archaeological point of view."

"What do you mean by the great bonfire?" I inquired.

"It was a rather dramatic incident at the close of the great Revolution. When the long struggle was ended and economic equality, guaranteed by the public administration of capital, had been established, the people got together from all parts of the land enormous collections of what you used to call the evidences of value, which, while purporting to be certificates of property in things, had been really certificates of the ownership of men, deriving, as we have seen, their whole value from the serfs attached to the things by the constraint of bodily necessities. These it pleased the people--exalted, as you may well imagine, by the afflatus of liberty--to collect in a vast mass on the site of the New York Stock Exchange, the great altar of Plutus, whereon millions of human beings had been sacrificed to him, and there to make a bonfire of them. A great pillar stands on the spot to-day, and from its summit a mighty torch of electric flame is always streaming, in commemoration of that event and as a testimony forever to the ending of the parchment bondage that was heavier than the scepters of kings. It is estimated that certificates of ownership in human beings, or, as you called them, titles to property, to the value of forty billion dollars, together with hundreds of millions of paper money, went up in that great blaze, which we devoutly consider must have been, of all the innumerable burnt sacrifices which have been offered up to God from the beginning, the one that pleased him best.

"Now, if I had been there, I can easily imagine that I should have rejoiced over that conflagration as much as did the most exultant of those who danced about it; but from the calmer point of view of the present I regret the destruction of a mass of historic material. So you see that your bonds and deeds and mortgages and shares of stock are really valuable still."


CHAPTER XV.


WHAT WE WERE COMING TO BUT FOR THE REVOLUTION.



"We read in the histories," said Edith's mother, "much about the amazing extent to which particular individuals and families succeeded in concentrating in their own hands the natural resources, industrial machinery, and products of the several countries. Julian had only a million dollars, but many individuals or families had, we are told, wealth amounting to fifty, a hundred, and even two or three hundred millions. We read of infants who in the cradle were heirs of hundreds of millions. Now, something I never saw mentioned in the books was the limit, for there must have been some limit fixed, to which one individual might appropriate the earth's surface and resources, the means of production, and the products of labor."

"There was no limit," I replied.

"Do you mean," exclaimed Edith, "that if a man were only clever and unscrupulous enough he might appropriate, say, the entire territory of a country and leave the people actually nothing to stand on unless by his consent?"

"Certainly," I replied. "In fact, in many countries of the Old World individuals owned whole provinces, and in the United States even vaster tracts had passed and were passing into private and corporate hands. There was no limit whatever to the extent of land which one person might own, and of course this ownership implied the right to evict every human being from the territory unless the owner chose to let individuals remain on payment of tribute."

"And how about other things besides land?" asked Edith.

"It was the same," I said. "There was no limit to the extent to which an individual might acquire the exclusive ownership of all the factories, shops, mines, and means of industry, and commerce of every sort, so that no person could find an opportunity to earn a living except as the servant of the owner and on his terms."

"If we are correctly informed," said the doctor, "the concentration of the ownership of the machinery of production and distribution, trade and industry, had already, before you fell asleep, been carried to a point in the United States through trusts and syndicates which excited general alarm."

"Certainly," I replied. "It was then already in the power of a score of men in New York city to stop at will every car-wheel in the United States, and the combined action of a few other groups of capitalists would have sufficed practically to arrest the industries and commerce of the entire country, forbid employment to everybody, and starve the entire population. The self-interest of these capitalists in keeping business going on was the only ground of assurance the rest of the people had for their livelihood from day to day. Indeed, when the capitalists desired to compel the people to vote as they wished, it was their regular custom to threaten to stop the industries of the country and produce a business crisis if the election did not go to suit them."

"Suppose, Julian, an individual or family or group of capitalists, having become sole owners of all the land and machinery of one nation, should wish to go on and acquire the sole ownership of all the land and economic means and machinery of the whole earth, would that have been inconsistent with your law of property?"

"Not at all. If one individual, as you suggest, through the effect of cunning and skill combined with inheritances, should obtain a legal title to the whole globe, it would be his to do what he pleased with as absolutely as if it were a garden patch, according to our law of property. Nor is your supposition about one person or family becoming owner of the whole earth a wholly fanciful one. There was, when I fell asleep, one family of European bankers whose world-wide power and resources were so vast and increasing at such a prodigious and accelerating rate that they had already an influence over the destinies of nations wider than perhaps any monarch ever exercised."

"And if I understand your system, if they had gone on and attained the ownership of the globe to the lowest inch of standing room at low tide, it would have been the legal right of that family or single individual, in the name of the sacred right of property, to give the people of the human race legal notice to move off the earth, and in case of their failure to comply with the requirement of the notice, to call upon them in the name of the law to form themselves into sheriffs' _posses_ and evict themselves from the earth's surface?"

"Unquestionably."

"O father," exclaimed Edith, "you and Julian are trying to make fun of us. You must think we will believe anything if you only keep straight faces. But you are going too far."

"I do not wonder you think so," said the doctor. "But you can easily satisfy yourself from the books that we have in no way exaggerated the possibilities of the old system of property. What was called under that system the right of property meant the unlimited right of anybody who was clever enough to deprive everybody else of any property whatever."

"It would seem, then," said Edith, "that the dream of world conquest by an individual, if ever realized, was more likely under the old _regime _ to be realized by economic than by military means."

"Very true," said the doctor. "Alexander and Napoleon mistook their trade; they should have been bankers, not soldiers. But, indeed, the time was not in their day ripe for a world-wide money dynasty, such as we have been speaking of. Kings had a rude way of interfering with the so-called rights of property when they conflicted with royal prestige or produced dangerous popular discontent. Tyrants themselves, they did not willingly brook rival tyrants in their dominions. It was not till the kings had been shorn of power and the interregnum of sham democracy had set in, leaving no virile force in the state or the world to resist the money power, that the opportunity for a world-wide plutocratic despotism arrived. Then, in the latter part of the nineteenth century, when international trade and financial relations had broken down national barriers and the world had become one field of economic enterprise, did the idea of a universally dominant and centralized money power become not only possible, but, as Julian has said, had already so far materialized itself as to cast its shadow before. If the Revolution had not come when it did, we can not doubt that something like this universal plutocratic dynasty or some highly centered oligarchy, based upon the complete monopoly of all property by a small body, would long before this time have become the government of the world. But of course the Revolution must have come when it did, so we need not talk of what would have happened if it had not come."


CHAPTER XVI.


AN EXCUSE THAT CONDEMNED.



"I have read," said Edith, "that there never was a system of oppression so bad that those who benefited by it did not recognize the moral sense so far as to make some excuse for themselves. Was the old system of property distribution, by which the few held the many in servitude through fear of starvation, an exception to this rule? Surely the rich could not have looked the poor in the face unless they had some excuse to offer, some color of reason to give for the cruel contrast between their conditions."

"Thanks for reminding us of that point," said the doctor. "As you say, there never was a system so bad that it did not make an excuse for itself. It would not be strictly fair to the old system to dismiss it without considering the excuse made for it, although, on the other hand, it would really be kinder not to mention it, for it was an excuse that, far from excusing, furnished an additional ground of condemnation for the system which it undertook to justify."

"What was the excuse?" asked Edith.

"It was the claim that, as a matter of justice, every one is entitled to the effect of his qualities--that is to say, the result of his abilities, the fruit of his efforts. The qualities, abilities, and efforts of different persons being different, they would naturally acquire advantages over others in wealth seeking as in other ways; but as this was according to Nature, it was urged that it must be right, and nobody had any business to complain, unless of the Creator.

"Now, in the first place, the theory that a person has a right in dealing with his fellows to take advantage of his superior abilities is nothing other than a slightly more

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