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Rh would prevent wasteful employment of land and the tyranny of local magnates. Much that appears as the power of capital is really the power of the landowner—for example, the power of railway companies and mine-owners. The evil and injustice of the present system are glaring, but men's patience of preventable evils to which they are accustomed is so great that it is impossible to guess when they will put an end to this strange absurdity.

Inheritance, which is the source of the greater part of the unearned income in the world, is regarded by most men as a natural right. Sometimes, as in England, the right is inherent in the owner of property, who may dispose of it in any way that seems good to him. Sometimes, as in France, his right is limited by the right of his family to inherit at least a portion of what he has to leave. But neither the right to dispose of property by will nor the right of children to inherit from parents has any basis outside the instincts of possession and family pride.

There may be reasons for allowing a man whose work is exceptionally fruitful—for instance, an inventor—to enjoy a larger income than is enjoyed by the average citizen, but there